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

Mitsubishi Estate Co. (OTCMKTS:MITEY)’s stock price gapped up before the market opened 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.

Analysts Set New Price Targets

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

Mitsubishi Estate Stock Up 5.6%

The stock has a fifty day moving average of $23.29 and a 200 day moving average of $26.12. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.89 and a quick ratio of 1.35. The firm has a market capitalization of $32.10 billion, a P/E ratio of 17.55 and a beta of 0.16.

Mitsubishi Estate Company Profile

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.