Championship rivals West Ham are understood to have had an offer, thought to total around £7million with add-ons, for the 24-year-old rejected.
The Hammers are widely reported to be ready to come back with another bid, but they could face stiff competition with Liverpool reportedly interested in the highly-rated frontman.
Hammond told the Reading Post: "We want Shane at the club, but we have had offers for him. None of those have been at a level or point where we are prepared to trade.
"With every player there comes a point, but we are nowhere near that point yet. If it got to a level that we find acceptable, then we would have to sit down and review it."