Top 2 Real Estate Stocks You May Want To Dump In April

As of April 18, 2024, two stocks in the real estate sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

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, according to Benzinga Pro.  

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

Apartment Income REIT Corp. AIRC

  • On April 8, Apartment Income REIT announced it will be taken private by Blackstone for roughly $10 billion. Blackstone Real Estate Partners X entered into a definitive agreement to acquire AIR Communities in an all-cash transaction valued at about $10 billion, including the assumption of debt. The company's stock gained around 4% over the past month and has a 52-week high of $38.68.
  • RSI Value: 78.85                 
  • AIRC Price Action: Shares of Apartment Income REIT rose 0.2% to trade at $38.43 on Thursday.

Comstock Holding Companies, Inc. CHCI

  • On March 21, Comstock Holding Co posted an increase in quarterly sales. “Our fiscal 2023 results underscore the strength and resiliency of the growth engine we've built at Comstock,” said Christopher Clemente, Comstock's Chairman and Chief Executive Officer. The company's stock gained around 48% over the past month and has a 52-week high of $7.05.
  • RSI Value: 89.05
  • CHCI Price Action: Shares of Comstock Holding gained 2.1% to trade at $6.91 on Thursday.

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