Mitsubishi Estate (OTCMKTS:MITEY) Shares Gap Up – Still a Buy?

Mitsubishi Estate Co. (OTCMKTS:MITEY)’s share 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.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group cut shares of 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, According to data from MarketBeat.com, Mitsubishi Estate presently has a consensus rating of “Hold”.

Mitsubishi Estate Stock Up 0.9%

The company has a current ratio of 1.89, a quick ratio of 1.35 and a debt-to-equity ratio of 1.19. The stock’s 50-day moving average is $23.79 and its 200-day moving average is $25.94. The company has a market cap of $28.12 billion, a price-to-earnings ratio of 15.37 and a beta of 0.12.

Mitsubishi Estate Company Profile

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.