Short Interest in Keppel REIT (OTCMKTS:KREVF) Increases By 18.5%

Key Points

• Short interest in Keppel REIT climbed 18.5% to 18,494,643 shares as of April 15, representing about 0.5% of the stock and resulting in an exceptionally high days-to-cover ratio of 7,667.8 days due to very low average daily volume (2,412 shares).
• Shares opened at $0.68 (52-week range $0.50–$1.20) with 50- and 200-day moving averages near $0.72 and $0.75, and Zacks upgraded the stock to a Hold, leaving the consensus rating at Hold.

Keppel REIT (OTCMKTS:KREVF - Get Free Report) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totaling 18,494,643 shares, an increase of 18.5% from the March 31st total of 15,604,110 shares. Approximately 0.5% of the company's stock are short sold. Based on an average trading volume of 2,412 shares, the days-to-cover ratio is currently 7,667.8 days.

Keppel REIT Stock Performance

OTCMKTS KREVF opened at $0.68 on Thursday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.41. The company has a 50 day moving average price of $0.72 and a 200 day moving average price of $0.75. Keppel REIT has a 52 week low of $0.50 and a 52 week high of $1.20.

Analyst Upgrades and Downgrades

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, According to MarketBeat, the stock presently has an average rating of "Hold".

About Keppel REIT

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.

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