Zacks Investment Research Downgrades Mitsubishi Estate Co. (MITEY) to Sell
Mitsubishi Estate Co. (OTCMKTS:MITEY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday.
According to Zacks, “Mitsubishi Estate Co., Ltd. is engaged in the development of real estate, including office buildings, residential properties and commercial properties. The Building Business segment is engaged in the development, leasing and property management of office buildings. Its Lifestyle Property segment operates the PREMIUM OUTLETS, MARK IS and other retail facilities. The Residential Business segment provides services, such as development, marketing and leasing. It is engaged in undertaking approximately 30 development projects in over 10 states, including distribution facilities and homes. Its Investment Management segment offers services for both individual and institutional investors. Its Architectural Design and Engineering segment engages in the design and administration of construction and civil engineering projects. Its Hotel Business maintains a network of over eight hotels. Its Real Estate Services segment provides a range of solutions for individuals and corporations. “
Shares of Mitsubishi Estate (MITEY) opened at 17.06 on Friday. The firm has a 50 day moving average price of $17.52 and a 200-day moving average price of $18.50. Mitsubishi Estate has a 12 month low of $16.79 and a 12 month high of $21.03. The company has a market cap of $23.68 billion, a P/E ratio of 27.65 and a beta of 0.68.
Mitsubishi Estate (OTCMKTS:MITEY) last issued its quarterly earnings data on Friday, August 4th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.11). Mitsubishi Estate had a return on equity of 5.35% and a net margin of 8.43%. The firm had revenue of $2.11 billion for the quarter. Analysts anticipate that Mitsubishi Estate will post $0.41 earnings per share for the current fiscal year.
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About Mitsubishi Estate
Mitsubishi Estate Co, Ltd. is engaged in the development of real estate, including office buildings, residential properties and commercial properties. The Building Business segment is engaged in the development, leasing and property management of office buildings. Its Lifestyle Property segment operates the PREMIUM OUTLETS, MARK IS and other retail facilities.
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