Mitsubishi Estate (OTCMKTS:MITEY) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

Mitsubishi Estate Co., Ltd. (OTCMKTS:MITEY) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $16.76 and traded as low as $15.76. Mitsubishi Estate shares last traded at $15.77, with a volume of 65,186 shares changing hands.

Analysts Set New Price Targets

Separately, Citigroup upgraded Mitsubishi Estate to a “strong-buy” rating in a research report on Friday, August 16th.

Mitsubishi Estate Trading Down 0.8 %

The stock has a 50 day simple moving average of $16.24 and a 200-day simple moving average of $16.74. The firm has a market cap of $19.88 billion, a P/E ratio of 17.38 and a beta of 0.47.

Mitsubishi Estate (OTCMKTS:MITEY) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter. The firm had revenue of $2.11 billion for the quarter. Mitsubishi Estate had a return on equity of 5.47% and a net margin of 11.38%.

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.