Keppel REIT (OTCMKTS:KREVF) Sees Large Decline in Short Interest

Keppel REIT (OTCMKTS:KREVF) was the recipient of a large decrease in short interest in the month of May. As of May 29th, there was short interest totaling 10,321,770 shares, a decrease of 39.0% from the May 14th total of 16,909,682 shares. Approximately 0.3% of the company’s stock are sold short. Based on an average daily trading volume, of 9,294 shares, the days-to-cover ratio is presently 1,110.6 days.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of Keppel REIT to a “hold” rating in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Keppel REIT has an average rating of “Hold”.

Keppel REIT Stock Performance

Shares of KREVF remained flat at $0.62 during mid-day trading on Monday. 25 shares of the stock traded hands, compared to its average volume of 4,168. The firm’s fifty day simple moving average is $0.69 and its two-hundred day simple moving average is $0.72. Keppel REIT has a 52 week low of $0.50 and a 52 week high of $1.20. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.41.

Keppel REIT Company Profile

Keppel REIT (OTCMKTS:KREVF) is a Singapore-based real estate investment trust sponsored by Keppel Land, a subsidiary of Keppel Corporation. Established in 2006 and listed on the Singapore Exchange, the REIT focuses on investing in premium office properties within the Asia-Pacific region.

The portfolio comprises six Grade A office buildings in Singapore’s Central Business District, including landmark developments such as Marina Bay Financial Centre Tower 1, Maritime Square Tower 2 and Ocean Financial Centre.