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Real Estate 2023-09-29: Unchanged at WEAKER strength rating (7th strongest of 9 levels), previous move was DOWN

Brian Degracia

• 3 min read
Real Estate 2023-09-29: Unchanged at WEAKER strength rating (7th strongest of 9 levels), previous move was DOWN
Real Estate Industry UNCHANGED trading week ended 2023-09-29. 0/8 sub-industries strengthened and 0/8 sub-industries weakened.

TABLE OF CONTENTS

  1. INDUSTRY OVERVIEW
    1A. Performance
    1B. Background
  2. SUB-INDUSTRIES AND STOCKS DETAIL
    2A. Sub-Industries Overview
    2B. Sub-Industries 10-Week Strengthening Analysis
    2C. Stocks 1 Week Strongest and Weakest
  3. STRENGTH BY LOOKBACK PERIOD (with Best/Worst stocks)
    3A. Lookback 6 Months
    3B. Lookback 4 weeks
    3C. Lookback 1 Week

1. INDUSTRY OVERVIEW

1A. Performance

Past 10 Weeks Strengthening/Weakening week-by-week, per the following chart:

Mixed/STRENGTHENING 1 Week vs. Mid- and Longer-Term // 1 week positive/negative stocks ratio is HIGHER than 4 weeks but LOWER than 6 Months, per the following chart:

Comments:
- 21% positive stocks this week vs. 5% last week.
- 4 weeks, 35% of stocks lost more than -10%.
- Stocks rated Weakest are 55% of total (vs. 49% last week). 2% are Strongest both weeks.
- In numbers - only 3 RE stocks rated Strongest, 104 rated Weakest.

1B. Background

Largest of 8 sub-industries (190 stocks, average 24):

  • REIT - Diversified/Industrial (51 stocks)
  • Property Management/Development (34 stocks)
  • REIT - Residential (27 stocks)
  • REIT - Retail (20 stocks)

Top 10 by Market Capitalization:
PLD/ProLogis Inc, AMT/American Tower Corp, BN/Brookfield Corporation, PSA/Public Storage , WELL/Welltower Inc, SPG/Simon Property Group, DLR/Digital Realty Trust Inc, O/Realty Income Corp, CSGP/Costar Group Inc, AVB/Avalonbay Communities

2. SUB-INDUSTRIES AND STOCKS DETAIL

2A. Sub-Industries Overview

Strengthened: 0/8 sub-industries
Weakened: 0/8 sub-industries

STRONGEST at Weak rating/6th strongest of 9 levels:

  • Mortgage Investment (15 stocks)
  • REIT - Healthcare Facilities (15 stocks)

WEAKEST at Weaker rating/7th strongest of 9 levels:

  • Property Management/Development (34 stocks)
  • REIT - Diversified/Industrial (51 stocks)
  • REIT - Hotel/Motel (13 stocks)
  • REIT - Office (15 stocks)
  • REIT - Residential (27 stocks)
  • REIT - Retail (20 stocks)

2B. Sub-Industries 10-Week Strengthening Analysis

What: recent week-by-week strength changes for the industry and each underlying sub-industry
Why: objective measurement of strengthening and weakening enabling comparison within and across industries and sub-industries

2C. Stocks 1 Week Strongest and Weakest

What: stocks currently rated Strongest/Weakest (highest/lowest of 9 strength ratings)
Why: most interesting stocks for available capital because

  • the Strongest have the least amount of overhead supply to dampen breakouts while
  • the Weakest may be prone to volatility, subject to big pops from bottom-fishing and short-covering BUT ALSO to bigger and faster falls.

(Not guaranteed and not a recommendation - weak stocks in weakening sub-industries may be better shorts than high-flyers.)

Strongest to Weakest stocks ratio is 3:104 (2% and 55% of total) 09/22/23 to 09/29/23.

3. STRENGTH BY LOOKBACK PERIOD (with Best/Worst stocks)

3A. Lookback 6 Months

3 stocks >+50% and 15 stocks <-25% (2% and 8% of total) 04/03/23 to 09/29/23.

3B. Lookback 4 weeks

1 stock >+10% and 67 stocks <-10% (1% and 35% of total) 09/01/23 to 09/29/23.

3C. Lookback 1 Week

0 stocks >+10% and 3 stocks <-10% (0% and 2% of total) 09/22/23 to 09/29/23.

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