Sumitomo Realty & Development Shares Seem Fairly Valued -- Market Talk
Dow Jones2026/09/04 02:570257 GMT - Sumitomo Realty & Development's shares seem fairly valued to Morningstar's Xavier Lee, who initiates coverage on the stock at a fair value estimate of 3,850 yen. The estimate implies a price-to-book value of 1.35X, he says in a note. Sumitomo Realty is one of the top developers in the country, the analyst says, noting that its core leasing business is anchored by an extensive office portfolio in Tokyo. Sumitomo Realty has modestly higher vacancy rates, compared with its leading peers, says Lee. Sumitomo Realty's shares are flat at Y3,256. (megan.cheah@wsj.com)
(END) Dow Jones Newswires
September 03, 2026 22:57 ET (02:57 GMT)
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