The DividendRank methodology at Dividend Channel ranks a multitude of dividend stocks based on a special formula designed to pinpoint those stocks combining robust fundamentals and a seemingly low valuation. Currently, Healthcare Realty Trust Incorporated (Symbol: HR) holds an outstanding rank, placing it among the top 10% of the coverage universe. This suggests that it is one of the most “interesting” ideas deserving further research by investors.
What makes Healthcare Realty Trust Incorporated even more compelling and timely for investors is the recent occurrence of shares of HR plummeting into oversold territory during Tuesday’s trading, reaching as low as $13.93 per share. The oversold status is determined using the Relative Strength Index (RSI), a technical analysis indicator assessing momentum on a scale from zero to 100. A stock is deemed oversold when its RSI reading falls below 30.
Healthcare Realty Trust Incorporated’s RSI reading has dived to 29.6. In comparison, the average RSI of the dividend stock universe covered by Dividend Channel presently stands at 52.3. A declining stock price, assuming all other factors remain constant, presents a prime opportunity for dividend investors to achieve a higher yield. In fact, HR’s most recent annualized dividend of $1.24/share (paid quarterly) equates to an annual yield of 8.64% based on the recent $14.36 share price.
For a bullish investor, the current RSI reading of 29.6 may indicate that the recent heavy selling is nearing exhaustion, signaling potential entry points on the buy side. One of the essential fundamental data points for dividend investors to scrutinize when deciding on HR is its dividend history.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
