After weeks of intense and relentless selling, have real estate investment trusts (REITs) finally bottomed?
No one can say for sure, but REITs in general had a very good day Monday with some of the best up moves in awhile.
The following five REITs easily outperformed the Standard & Poor’s 500 on Monday, and that benchmark index was up 2.65%.
Host Hotels & Resorts Inc. (NASDAQ:HST) is based in Bethesda, Maryland, and operates 78 hotels in 20 U.S. markets.
The 3.39% move up ran into sellers at the declining 50-day moving average. Note that Host’s September low remained above the early July low, a potentially positive sign.
Summit Hotel Properties Inc. (NYSE:INN) is headquartered in Austin, Texas, and runs a portfolio of 102 hotels of which it wholly owns 61.
The Monday gain of 5.32% is solid, but the REIT has a lot of work to do to be considered bullish again. A few closes above the declining 50-day moving average would be helpful.
Ryman Hospitality Properties Inc. (NYSE:RHP) is based in Tennessee and owns the Gaylord Opryland Resort & Convention Center in Nashville, among other properties around the country.
The 4.45% increase takes the price back above a declining 50-day moving average, a positive sign for the stock.
Sunstone Hotel Investors Inc. (NYSE:SHO) is headquarters in Irvine, California, and has a portfolio of lodging properties around the U.S.
The stock has a way to go before it can be called bullish again, but Monday’s 3.88% gain continues the move upward from the beginning of October.
Simon Property Group Inc. (NYSE:SPG) has corporate headquarters in Indianapolis, Indiana, and owns shopping, dining and mixed-use properties in the U.S., Europe and Asia.
The 3.43% move up found sellers at the 50-day moving average. Note that the volume gained quite a bit on Monday’s higher price, a confirming factor for bulls.
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Not investment advice. For educational purposes only.
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