Mitsubishi Estate (OTCMKTS:MITEY) Reaches New 1-Year High - Here's Why

Key Points

• Mitsubishi Estate Co. (OTCMKTS:MITEY) reached a new 52-week high of $21.52, with the last trading price at $20.45 and a trading volume of 974 shares.
• Analysts from CLSA have upgraded Mitsubishi Estate to a "strong-buy" rating, suggesting positive market sentiment towards the stock.
• The company reported $0.20 earnings per share for the last quarter, beating expectations, but its revenue of $2.42 billion fell short of the forecast of $2.70 billion.

Mitsubishi Estate Co. (OTCMKTS:MITEY - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $21.52 and last traded at $20.45, with a volume of 974 shares trading hands. The stock had previously closed at $20.71.

Wall Street Analyst Weigh In

Separately, CLSA raised Mitsubishi Estate to a "strong-buy" rating in a report on Tuesday, May 27th.

Mitsubishi Estate Price Performance

The firm has a market capitalization of $26.84 billion, a price-to-earnings ratio of 20.63 and a beta of 0.23. The company has a fifty day moving average price of $19.07 and a two-hundred day moving average price of $17.26. The company has a quick ratio of 1.69, a current ratio of 2.33 and a debt-to-equity ratio of 1.24.

Mitsubishi Estate (OTCMKTS:MITEY - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.02. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.70 billion. Mitsubishi Estate had a return on equity of 5.48% and a net margin of 12.09%.

About Mitsubishi Estate

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.