Mitsubishi Estate Co. (OTCMKTS:MITEY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

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. “

Shares of Mitsubishi Estate (MITEY) remained flat at $17.06 during midday trading on Friday. 71,061 shares of the company were exchanged. The firm has a market cap of $23.68 billion, a PE ratio of 27.65 and a beta of 0.68. Mitsubishi Estate has a 52 week low of $16.79 and a 52 week high of $21.03. The company has a 50-day moving average price of $17.52 and a 200 day moving average price of $18.50.

Mitsubishi Estate (OTCMKTS:MITEY) last posted its quarterly earnings results on Friday, August 4th. The company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.11). Mitsubishi Estate had a return on equity of 5.35% and a net margin of 8.43%. The business had revenue of $2.11 billion during the quarter. On average, equities research analysts anticipate that Mitsubishi Estate will post $0.41 earnings per share for the current year.

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About Mitsubishi Estate

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.

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