Mitsubishi Estate Co. (OTCMKTS:MITEY) Sees Large Decrease in Short Interest

Mitsubishi Estate Co. (OTCMKTS:MITEY) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 3,767 shares, a drop of 92.4% from the July 15th total of 49,319 shares. Based on an average trading volume of 148,231 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the company’s shares are sold short.

Mitsubishi Estate Stock Up 0.1%

MITEY traded up $0.02 on Tuesday, hitting $23.23. The company had a trading volume of 86,820 shares, compared to its average volume of 64,786. The stock has a fifty day simple moving average of $25.17 and a 200-day simple moving average of $27.41. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.97 and a quick ratio of 1.39. The firm has a market capitalization of $28.13 billion, a P/E ratio of 15.38 and a beta of 0.13. Mitsubishi Estate has a 52-week low of $18.18 and a 52-week high of $35.17.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group downgraded shares of Mitsubishi Estate from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Mitsubishi Estate presently has a consensus rating of “Hold”.

About Mitsubishi Estate

Mitsubishi Estate Co, Ltd. (OTCMKTS: MITEY) is one of Japan’s largest real estate developers and a core company within the Mitsubishi corporate group. Headquartered in Tokyo, the firm is best known for large-scale urban development and property leasing, including landmark office districts and mixed-use complexes in central Tokyo. Its businesses span the full real estate value chain, from land acquisition and project development to leasing, sales, property and facility management, and real estate investment management.

The company’s commercial activities cover office buildings, retail and commercial facilities, residential housing, hotels and resorts, and logistics properties.