News Formal

This week's most overbought stocks include several real estate names and a regional bank

  • 📰 CNBC
  • ⏱ Reading Time:
  • 26 sec. here
  • 12 min. at publisher
  • 📊 Quality Score:
  • News: 49%
  • Publisher: 72%

Corning Inc News

Boston Properties Inc,Alexandria Real Estate Equities REIT,American Tower Corp

A better-than-expected consumer inflation report led investors to buy rate-sensitive stocks such as REITs and industrials.

Investors started to broaden their holdings beyond Big Tech stocks into overlooked parts of the market this week — but some of these names may soon be due for a pullback, according to a popular market metric. A better-than-expected consumer price index report for June raised hopes that the Federal Reserve might soon turn to cutting its benchmark interest rate.

The majority of analysts covering PNC rate it a buy or strong buy. But the bank is already trading within 1% of the consensus price target, implying little scope for upside. PNC YTD mountain PNC in 2024 Several real estate investment trusts, or REITs, are also at risk of a slide following this week's rally. American Tower , Alexandria Real Estate Equities and BXP are this week's three most overbought stocks. Shares of American Tower and Alexandria Real Estate Equities gained 5.9% and 6.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in AU

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Citi names one 'compelling emerging' theme to play real estate — and stocks and REITs to buyReal estate companies around the world are eyeing one area right now, in light of 'higher potential returns,' Citi says.
Source: CNBC - 🏆 12. / 72 Read more »

Stock Trader Answers Stock Market Questions From TwitterFormer Wall Street stock trader Lance Breitstein answers your most asked stock market questions from Twitter.
Source: WIRED - 🏆 555. / 51 Read more »