Mitsubishi Estate (OTCMKTS:MITEY) Shares Gap Up – Time to Buy?

Mitsubishi Estate Co. (OTCMKTS:MITEY)’s stock price gapped up before the market opened on Friday. The stock had previously closed at $23.01, but opened at $23.98. Mitsubishi Estate shares last traded at $23.14, with a volume of 87 shares traded.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group lowered 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, According to MarketBeat, Mitsubishi Estate currently has an average rating of “Hold”.

Mitsubishi Estate Stock Up 0.9%

The stock has a 50-day moving average of $23.79 and a 200 day moving average of $25.94. The company has a quick ratio of 1.35, a current ratio of 1.89 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $28.12 billion, a PE ratio of 15.37 and a beta of 0.12.

About Mitsubishi Estate

Mitsubishi Estate Co, Ltd. is a Japanese real estate company and a core member of the Mitsubishi Group. Founded in 1937, the company develops, owns, leases and manages office buildings, commercial properties, residential communities, hotels, logistics facilities and other real estate assets.

The company is particularly known for its long-term development of the Marunouchi district near Tokyo Station, one of Japan’s leading business and commercial areas. Its services also include property management, real estate brokerage, investment management and urban redevelopment.

Mitsubishi Estate primarily serves customers in Japan while also pursuing real estate development and investment activities in selected international markets, including the United States, the United Kingdom and parts of Asia.