Sumitomo Realty initiated at fair value 3,850 yen by Morningstar
Morningstar’s Xavier Lee initiated coverage on Sumitomo Realty & Development with a fair value estimate of 3,850 yen, implying a price-to-book value of 1.35X.
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…