Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

REIT Caution Signals!

|Includes: ARE, DRE, KRC, Liberty Property Trust (LPT), UDR

Today I used Barchart to sort the S&P 400 Mid Cap Stock Index to find the stocks that had the most frequent new highs in the last month but found something very curious. Not only were they all REITS but all had lower technical buy signals due to a pull back in their prices in the last 5 days. I don't know if this signals the REIT sector is over valued and due for a pull back but this is something you should monitor.

Today's list includes Liberty Property Trust (NYSE:LPT), Duke Realty (NYSE:DRE), Alexandria Real Estate Equities (NYSE:ARE), United Dominion Realty Trust(NYSE:UDR) and Kilroy Realty (NYSE:KRC):

Liberty Property Trust (LPT)

Barchart technical indicators:

 

  • 8% Barchart technical buy signals
  • Trend Spotter hold signal
  • Below its 20 day moving average but above its 50 and 100 day moving averages
  • 16 new highs and up 5.12% in the last month
  • Relative Strength Index 53.38%
  • Barchart computes a technical support level at 39.59
  • Recently traded at 39.77 with a 50 day moving average of 37.86


Duke Realty (DRE)

Barchart technical indicators:

 

  • 16% Barchart technical buy signals
  • Trend Spotter buy signal
  • Below its 20 day moving average but above its 50 and 100 day moving averages
  • 15 new highs and up 5.68% in the last month
  • Relative Strength Index 53.23%
  • Barchart computes a technical support level at 21.42
  • Recently traded at 21.59 with a 50 day moving average of 20.50


Alexandria Real Estate Equities (ARE)

Barchart technical indicators:

 

  • 32% Barchart technical buy signals
  • Trend Spotter hold signal
  • Above its 20, 50 and 100 day moving averages
  • 15 new highs and up 6.86% in the last month
  • Relative Strength Index 55.49%
  • Barchart computes a technical support level at 96.33
  • Recently traded at 95.95 with a 50 day moving average of 90.78


United Dominion Realty Trust (UDR)

Barchart technical indicators:

 

  • 32% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 15 new highs and up 4.91% in the last month
  • Relative Strength Index 52.86%
  • Barchart computes a technical support level at 32.75
  • Recently traded at 32.88 with a 50 day moving average of 31.69


Kilroy Realty (KRC)

Barchart technical indicators:

 

  • 56% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 15 new highs and up 4.30% in the last month
  • Relative Strength Index 53.94%
  • Barchart computes a technical support level at 72.65
  • Recently traded at 73.34 with a 50 day moving average of 70.71


Follow these with caution and watch for the Relative Strength Index to fall below 50%.