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

Mitsubishi Estate Co. (OTCMKTS:MITEY)’s stock price gapped up prior to trading on Friday. The stock had previously closed at $23.56, but opened at $25.10. Mitsubishi Estate shares last traded at $25.08, with a volume of 46 shares traded.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group downgraded shares of Mitsubishi Estate from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Mitsubishi Estate Stock Performance

The firm’s 50-day moving average is $23.19 and its 200 day moving average is $26.15. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.35 and a current ratio of 1.89. The stock has a market cap of $29.19 billion, a PE ratio of 15.96 and a beta of 0.14.

About Mitsubishi Estate

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

The company is closely associated with the Marunouchi district in central Tokyo, where it has played a major role in the long-term redevelopment of office, retail, cultural and public spaces.