After many days of serious selling pressure, real estate investment trusts (REITs) found eager and willing buyers on Sept. 28.

Several of the major REITs gained in price by 3% or more, a significant upward move considering the recent downswings. Whether the overall trend lower remains in place is a concern for investors.

Here are four well-known REITs that rallied and rallied well:

Farmland Partners Inc. (NYSE:FPI) gained 3.26%.

After being down by more than 5% after trading opened the previous day, Farmland Partners came back strong. It climbs out of the oversold on the relative strength index (RSI) indicator below the price chart. The next bullish accomplishment would be to see a session close above the red 200-day moving average.
Host Hotels & Resorts Inc. (NYSE:HST) had a gain of 5.01%, a hefty one-day increase for any security or sector.

This gain is confirmed as real by the hefty increase in volume seen along the bottom of the price chart. Host is another REIT that is now out of the oversold RSI range, below the price chart. For bulls who own it, the next move upward needs to close above the two moving average lines.

Independence Realty Trust Inc. (NYSE:IRT) gained 3.54%.

This residential real estate investment trust, with the 3.42% dividend yield, is climbing out of the RSI oversold status. Despite this bullish action, Independence Realty Trust remains in a serious downtrend, well below both the 50-day and the 200-day moving averages, both of which turned downward weeks ago.

Park Hotels & Resorts Inc. (NYSE:PK) had a 4.89% gain.

It's the heavy buying volume (seen at the bottom of the price chart) that might confirm some type of low at this price. Buyers like this hotel and motel REIT. Note, however, that both significant moving averages continue to trend downward.

The big macroeconomic factor affecting all of these charts is rising inflation and how much more seriously the Federal Reserve regards it as fall becomes winter. It may take a change in expectations that higher interest rates are inevitable before any REIT rallies can find real footing.

Read next: This Little Known REIT Has Produced Double-Digit Annual Returns For The Past Five Years

Not investment advice. For educational purposes only.

Charts: Courtesy of StockCharts