Mitsubishi Estate (OTCMKTS:MITEY) Shares Gap Down – Time to Sell?

Mitsubishi Estate Co. (OTCMKTS:MITEY) shares gapped down prior to trading on Tuesday . The stock had previously closed at $19.09, but opened at $18.17. Mitsubishi Estate shares last traded at $18.53, with a volume of 1,840 shares.

Analysts Set New Price Targets

Separately, CLSA raised shares of Mitsubishi Estate to a “strong-buy” rating in a research report on Tuesday, May 27th.

Mitsubishi Estate Stock Performance

The stock has a market capitalization of $23.37 billion, a PE ratio of 18.87 and a beta of 0.21. The stock has a 50-day moving average price of $18.00 and a two-hundred day moving average price of $15.83.

Mitsubishi Estate (OTCMKTS:MITEY) last released its earnings results on Monday, May 12th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.10). Mitsubishi Estate had a net margin of 11.99% and a return on equity of 6.14%. The firm had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.58 billion.

Mitsubishi Estate Company Profile

Mitsubishi Estate Co, Ltd. engages in the real estate activities in Japan and internationally. The company develops, leases, manages, and sells office buildings and commercial facilities; operates rental offices, coworking space, virtual offices, hourly meeting rooms, home delivery storage service, commercial nursing homes, and building garages; offers real estate management, as well as building management services, such as security, facility management, cleaning, and planting services; and operates hotels and airports.