The most overbought stocks in the real estate sector presents an opportunity to go short on these overvalued 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 overbought when the RSI is above 70.

Here’s the latest list of major overbought players in this sector.

FLJ Group Limited (NASDAQ:FLJ)

• FLJ Group is scheduled to hold its 2023 annual general meeting on Sept. 18, 2023. The company’s stock has a 52-week high of $4.06. .
• RSI Value: 70.54
• FLJ Price Action: Shares of FLJ Group gained 12.4% to close at $0.2669 on Monday.

LuxUrban Hotels Inc. (NASDAQ:LUXH)

• LuxUrban Hotels reported better-than-expected earnings. "By continuing to employ a disciplined, asset-light growth strategy, strict underwriting criteria, and a commitment to delivering the highest-level customer experience, in Q2 2023 we delivered significant quarter-over-quarter increases in net rental revenue, EBITDA, and cash net income, strengthened our financial position, and expanded our operations portfolio to 17 properties under Master Lease Agreements and 1,625 rooms available for rent as of August 8, 2023," said Brian Ferdinand, Chairman and Chief Executive Officer of LuxUrban Hotels. The company’s stock has a 52-week high of $3.84.
• RSI Value: 77.27
• LUXH Price Action: Shares of LuxUrban Hotels rose 6.1% to close at $3.65 on Monday.

Innovative Industrial Properties, Inc. (NYSE:IIPR)

• Innovative Industrial Properties released results for the second quarter ended June 30, 2023,revealing total revenue of $76.5 million, an 8% increase compared to $70.5 million in the in the year-ago period. The company has a 52-week high of $125.38.
• RSI Value: 71.89
• IIPR Price Action: Shares of Innovative Industrial Properties gained 0.8% to close at $89.34 on Monday.

Hersha Hospitality Trust (NYSE:HT)

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