The most oversold stocks in the real estate sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
Fermi Inc (NASDAQ:FRMI)
- On Oct. 1, Fermi priced its IPO at $21 per share. The company's stock fell around 30% over the past five days and has a 52-week low of $18.70.
- RSI Value: 27.4
- FRMI Price Action: Shares of Fermi fell 0.3% to close at $19.84 on Thursday.
Apartment Investment and Management Co (NYSE:AIV)
- On Sept. 15, Apartment Investment and Management announced it closed the sale of four properties for $490 million and declared a $2.23 per share special cash dividend. Wes Powell, Aimco’s President and CEO said, “The timely execution of these asset sales and the associated distribution of proceeds to shareholders reemphasizes Aimco’s commitment to unlocking and maximizing value for stockholders. I offer my thanks to the buyer, Harbor Group International, for their professionalism and to both Morgan Stanley and Walker & Dunlop who advised Aimco on the transaction.” The company's stock fell around 26% over the past month and has a 52-week low of $5.49.
- RSI Value: 24
- AIV Price Action: Shares of Apartment Investment rose 0.4% to close at $5.69 on Thursday.
- Edge Stock Ratings: 8.93 Momentum score with Value at 25.12.
FirstService Corp (NASDAQ:FSV)
- On Oct. 23, FirstService posted mixed quarterly results. “We are pleased with the resilient growth in our consolidated third quarter results, despite weather-related and broader commercial macroeconomic headwinds which tempered the organic top-line within our Brands division,” said Scott Patterson, Chief Executive Officer of FirstService. “While we see these market challenges continuing to impact our performance in the fourth quarter, our businesses will collectively deliver a solid year of growth and profitability.” The company's stock fell around 13% over the past month and has a 52-week low of $153.13.
- RSI Value: 11.3
- FSV Price Action: Shares of FirstService fell 9.8% to close at $166.73 on Thursday.
- Benzinga Pro’s signals feature notified of a potential breakout in FSV shares.
Learn more about BZ Edge Rankings—click to see scores for other stocks in the sector and see how they compare.
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