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

Mitsubishi Estate Co. (OTCMKTS:MITEY) gapped down prior to trading on Friday . The stock had previously closed at $25.85, but opened at $24.16. Mitsubishi Estate shares last traded at $24.26, with a volume of 2,198 shares changing hands.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group cut 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.com, Mitsubishi Estate presently has a consensus rating of “Hold”.

Mitsubishi Estate Trading Down 6.6%

The stock has a market capitalization of $29.25 billion, a PE ratio of 20.30 and a beta of 0.11. The company’s 50 day moving average price is $25.37 and its two-hundred day moving average price is $27.49. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.97 and a quick ratio of 1.39.

About Mitsubishi Estate

Mitsubishi Estate Co, Ltd. (OTCMKTS: MITEY) is one of Japan’s largest real estate developers and a core company within the Mitsubishi corporate group. Headquartered in Tokyo, the firm is best known for large-scale urban development and property leasing, including landmark office districts and mixed-use complexes in central Tokyo. Its businesses span the full real estate value chain, from land acquisition and project development to leasing, sales, property and facility management, and real estate investment management.

The company’s commercial activities cover office buildings, retail and commercial facilities, residential housing, hotels and resorts, and logistics properties.