Top 2 Real Estate Stocks You May Want To Dump This Quarter
Portfolio Pulse from Avi Kapoor
SL Green Realty Corp and Digital Realty Trust Inc are identified as overbought stocks in the real estate sector, with RSI values above 70. SL Green reported a quarterly loss but exceeded expectations, while Digital Realty posted strong leasing results and raised its FY24 FFO guidance.
October 31, 2024 | 1:17 pm
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NEGATIVE IMPACT
Digital Realty Trust Inc reported strong third-quarter FFO results and raised its FY24 FFO guidance. The stock is overbought with an RSI of 76.86, having gained 13% over the past month.
Digital Realty Trust's stock is overbought with an RSI above 70, suggesting a potential price correction. Despite strong earnings and guidance, the high RSI and recent gains indicate possible short-term downward pressure.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
SL Green Realty Corp reported a quarterly loss but exceeded analyst expectations. The stock is considered overbought with an RSI of 70.97, having gained 12% over the past month.
SL Green Realty's stock is overbought with an RSI above 70, indicating potential for a price correction. Despite beating earnings expectations, the stock's recent gains and high RSI suggest a short-term downward pressure.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90