Suntec Real Estate Investment Trust (OTCMKTS:SURVF) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 77,700 shares, a drop of 70.4% from the March 15th total of 262,100 shares. Based on an average trading volume of 18,300 shares, the days-to-cover ratio is presently 4.2 days.
Shares of SURVF stock remained flat at $$1.17 during trading hours on Thursday. Suntec Real Estate Investment Trust has a 12-month low of $0.89 and a 12-month high of $1.22. The firm has a 50-day moving average of $1.13 and a 200 day moving average of $1.11.
Separately, HSBC raised shares of Suntec Real Estate Investment Trust from a “hold” rating to a “buy” rating in a research report on Monday, January 11th.
Listed on 9 December 2004, Suntec REIT holds properties in Suntec City, Singapore's largest integrated commercial development (including one of Singapore's largest shopping Mall), a 66.3% interest in Suntec Singapore Convention & Exhibition Centre, a one-third interest in One Raffles Quay, a one-third interest in Marina Bay Financial Centre Towers 1 and 2 and the Marina Bay Link Mall, and a 30.0% interest in 9 Penang Road.
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