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

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

Sumitomo Realty & Development Stock Performance

Shares of OTCMKTS:SURDF opened at $21.00 on Monday. The company’s fifty day moving average is $22.87 and its 200 day moving average is $26.75. Sumitomo Realty & Development has a 52 week low of $20.68 and a 52 week high of $33.19.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group downgraded Sumitomo Realty & Development from a “neutral” rating to a “sell” rating in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Sumitomo Realty & Development Company Profile

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.