Mitsubishi Estate Co. (OTCMKTS:MITEY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.

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) traded up 0.085% during mid-day trading on Wednesday, hitting $17.685. 217,892 shares of the company traded hands. Mitsubishi Estate has a 52-week low of $16.67 and a 52-week high of $21.03. The firm has a 50-day moving average price of $17.30 and a 200 day moving average price of $18.33. The firm has a market cap of $24.55 billion, a price-to-earnings ratio of 28.524 and a beta of 0.68.

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