Mitsubishi Estate Co., Ltd. (OTCMKTS:MITEY) Short Interest Down 52.3% in March

Mitsubishi Estate Co., Ltd. (OTCMKTS: MITEYGet a rating) benefited from a sharp drop in short-term interest rates during the month of March. As of March 31, there was short interest totaling 46,300 shares, down 52.3% from the March 15 total of 97,100 shares. Based on an average daily trading volume of 118,900 shares, the days-to-cover ratio is currently 0.4 days.

Shares of OTCMKTS MITEY opened at $14.58 on Thursday. The company has a current ratio of 1.78, a quick ratio of 1.25 and a debt ratio of 1.28. Mitsubishi Estate has a 12 month minimum of $13.34 and a 12 month maximum of $18.50. The company has a 50-day simple moving average of $14.85 and a two-hundred-day simple moving average of $14.65. The stock has a market capitalization of $20.29 billion, a price-earnings ratio of 14.88 and a beta of 0.54.

MITEY has been the subject of several research analyst reports. Zacks Investment Research upgraded Mitsubishi Estate from a “hold” rating to a “buy” rating and set a target price of $17.00 on the stock in a research note on Saturday April 2. CLSA downgraded Mitsubishi Estate from a “buy” rating to an “underperform” rating in a research report on Tuesday.

About Mitsubishi Estate (Get a rating)

Mitsubishi Estate Co, Ltd. conducts real estate business in Japan and overseas. The Company is involved in the development, leasing, property management and sale of office buildings; planning, development and tenant leasing of retail facilities/outlets; investment, development, operational management and asset management of logistics facilities; operation of 16 hotels under the Royal Park Hotels brand in Japan and the Marunouchi Hotel in the Marunouchi area; and operation of Takamatsu Airport, Miyako Shimojishima Airport Terminal, Mt.

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