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

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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.

 

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