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

Mitsubishi Estate Co. (OTCMKTS:MITEY)’s share price gapped up before the market opened on Friday. The stock had previously closed at $21.43, but opened at $23.19. Mitsubishi Estate shares last traded at $23.19, with a volume of 4 shares changing hands.

Analysts Set New Price Targets

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

Mitsubishi Estate Stock Performance

The stock has a market cap of $28.13 billion, a P/E ratio of 15.38 and a beta of 0.14. The firm has a 50 day moving average of $23.05 and a two-hundred day moving average of $25.19. 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 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.