Mitsubishi Estate (OTCMKTS:MITEY) Shares Gap Up – Here’s Why

Mitsubishi Estate Co. (OTCMKTS:MITEY) gapped up prior to trading on Thursday. The stock had previously closed at $24.22, but opened at $27.53. Mitsubishi Estate shares last traded at $26.68, with a volume of 1,067 shares changing hands.

Wall Street Analyst Weigh In

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 investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Mitsubishi Estate Stock Performance

The company’s 50 day moving average price is $23.37 and its 200-day moving average price is $26.12. The stock has a market cap of $29.82 billion, a P/E ratio of 16.30 and a beta of 0.16. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.35 and a current ratio of 1.89.

Mitsubishi Estate Company Profile

Mitsubishi Estate Co, Ltd. is a Japanese real estate company founded in 1937 and headquartered in Tokyo. It develops, owns, leases and manages a range of properties, including office buildings, residential properties, retail facilities, hotels and logistics facilities.

The company is closely associated with the development and management of Tokyo’s Marunouchi district, near Tokyo Station. Its business also includes real estate services and asset management, serving corporate and individual customers.

In addition to its extensive operations in Japan, Mitsubishi Estate has real estate businesses in overseas markets, including the United States, the United Kingdom and parts of Asia.