Mitsubishi Estate (OTCMKTS:MITEY) Shares Gap Up – What’s Next?

Mitsubishi Estate Co. (OTCMKTS:MITEY) shares gapped up prior to trading on Thursday. The stock had previously closed at $21.99, but opened at $22.61. Mitsubishi Estate shares last traded at $21.4955, with a volume of 5,058 shares changing hands.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group cut Mitsubishi Estate from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. One analyst has rated the stock with a Hold rating. According to MarketBeat, the company has a consensus rating of “Hold”.

Mitsubishi Estate Price Performance

The stock has a market capitalization of $26.66 billion, a price-to-earnings ratio of 14.58 and a beta of 0.14. The company has a current ratio of 1.89, a quick ratio of 1.35 and a debt-to-equity ratio of 1.19. The company’s 50 day moving average is $23.19 and its 200 day moving average is $25.37.

About Mitsubishi Estate

Mitsubishi Estate Co, Ltd. is a Japan-based real estate company engaged in the development, ownership, leasing and management of commercial, residential and mixed-use properties. Its portfolio includes office buildings, retail facilities, hotels, logistics properties and residential developments, as well as related real estate services.

The company is closely associated with the development and management of the Marunouchi and Otemachi districts in central Tokyo, where it operates a large concentration of office, retail, dining and cultural facilities.