Carrico has made just three appearances for the Royals since moving to the club from Sporting Lisbon, and Hammond has admitted that the 24-year-old could make his exit from the Madejski Stadium.
The 45-year-old told the club's official website: "I feel for him, he came in January and following both his contractual situation and an injury, he wasn't up to speed at first. But he's been a great professional, he works hard and he's a good player. There is some interest but we'll see how it progresses, there are no done deals.
"It's been tough for him, he's become frustrated with the situation but I want to re-iterate that he's a good man, works every day and the level of club interested tells you what a good player he is.
"Is there a done deal? No. Is there likely to be? Possibly."
Sevilla have been linked with a move for the former Portugal Under-21 international.