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

Shares of Mitsubishi Estate Co. (OTCMKTS:MITEY) 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.

Analyst Upgrades and Downgrades

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

Mitsubishi Estate Trading Up 5.6%

The firm has a fifty day moving average of $23.29 and a two-hundred day moving average of $26.12. The company has a market cap of $32.10 billion, a PE ratio of 17.55 and a beta of 0.16. The company has a current ratio of 1.89, a quick ratio of 1.35 and a debt-to-equity ratio of 1.19.

About Mitsubishi Estate

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.