Mitsubishi Estate (OTCMKTS:MITEY) Shares Cross Below 50 Day Moving Average – Here’s What Happened

Mitsubishi Estate Co., Ltd. (OTCMKTS:MITEY) shares passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $15.96 and traded as low as $14.89. Mitsubishi Estate shares last traded at $14.96, with a volume of 68,288 shares trading hands.

Analyst Upgrades and Downgrades

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

Mitsubishi Estate Price Performance

The stock has a market capitalization of $19.02 billion, a PE ratio of 16.26 and a beta of 0.48. The firm’s 50 day simple moving average is $15.96 and its 200 day simple moving average is $16.43.

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

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.