MITSUBISHI ESTA/ADR (OTCMKTS:MITEY) Stock Rating Upgraded by Zacks Investment Research

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MITSUBISHI ESTA/ADR (OTCMKTS:MITEY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Mitsubishi Estate Co., Ltd. is engaged in the development of real estate, including office buildings, residential properties and commercial properties. The Building Business segment is engaged in the development, leasing and property management of office buildings. Its Lifestyle Property segment operates the PREMIUM OUTLETS, MARK IS and other retail facilities. The Residential Business segment provides services, such as development, marketing and leasing. It is engaged in undertaking approximately 30 development projects in over 10 states, including distribution facilities and homes. Its Investment Management segment offers services for both individual and institutional investors. Its Architectural Design and Engineering segment engages in the design and administration of construction and civil engineering projects. Its Hotel Business maintains a network of over eight hotels. Its Real Estate Services segment provides a range of solutions for individuals and corporations. “

Other analysts have also recently issued research reports about the company. Jefferies Financial Group started coverage on MITSUBISHI ESTA/ADR in a research report on Monday, April 6th. They issued a “buy” rating for the company. Goldman Sachs Group cut MITSUBISHI ESTA/ADR from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 6th.

MITEY stock opened at $14.26 on Wednesday. The firm has a market cap of $20.13 billion, a PE ratio of 14.72 and a beta of 0.64. MITSUBISHI ESTA/ADR has a 1 year low of $11.29 and a 1 year high of $20.73. The company has a fifty day simple moving average of $15.54 and a 200 day simple moving average of $16.79.

MITSUBISHI ESTA/ADR (OTCMKTS:MITEY) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.42 earnings per share for the quarter. The company had revenue of $4.36 billion during the quarter. Sell-side analysts anticipate that MITSUBISHI ESTA/ADR will post 0.72 earnings per share for the current fiscal year.

About MITSUBISHI ESTA/ADR

Mitsubishi Estate Co, Ltd. engages in the real estate activities in Japan and internationally. The company engages in the development, leasing, property management, and sale of office buildings. It also operates outlets and other retail facilities; offers services for various needs of condominiums, custom-built housing, purchase and sales, leasing, brokerage areas, renovations, and management; and develops office building, residential, commercial facility, and other real estate properties.

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