Sumitomo Realty & Development Co., Ltd. (OTCMKTS:SURDF) Sees Large Growth in Short Interest

Sumitomo Realty & Development Co., Ltd. (OTCMKTS:SURDF) saw a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 1,950,571 shares, an increase of 113.6% from the July 30th total of 913,048 shares. Based on an average trading volume of 50 shares, the days-to-cover ratio is currently 39,011.4 days.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group lowered shares of Sumitomo Realty & Development from a “neutral” rating to a “sell” rating in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Sumitomo Realty & Development Price Performance

Shares of Sumitomo Realty & Development stock opened at $21.00 on Friday. The stock’s fifty day simple moving average is $22.87 and its 200 day simple moving average is $26.78. Sumitomo Realty & Development has a 12 month low of $20.68 and a 12 month high of $33.19.

About Sumitomo Realty & Development

Sumitomo Realty & Development Co, Ltd. (OTCMKTS:SURDF) is one of Japan’s foremost comprehensive real estate developers. Headquartered in Tokyo, the company engages in the development, leasing and management of a wide range of properties. Its portfolio spans office buildings, residential condominiums, retail facilities, hotels and leisure complexes, reflecting a diversified approach to land use and urban development.

In addition to its core property development activities, Sumitomo Realty provides integrated property management services, including leasing, maintenance and building operations.