Mitsubishi Estate (8802) Trades at 60% of Adjusted NAV, a Laggard and Too Cheap.

Director, Pearl Hill Advisors

Nicholas Tanner

Director

Pearl Hill Advisors

Equity Bottom-Up

This is Japan's premier real estate company with much of its property portfolio centered around the Marunouchi district of central Tokyo. We have written on this in the past and the recent sell off prompts us once again to point out the low valuation at which this trades. It is worth noting the a number of analysts have been revising their view on this name, the most recent being Goldman Sachs with a BUY rating and a target price of Y2,500, 40% higher than the current share price. Nine month…

This is Japan's premier real estate company with much of its property portfolio centered around the Marunouchi district of central Tokyo. We have written on this in the past and the recent sell off prompts us once again to point out the low valuation at which this trades. It is worth noting the a number of analysts have been revising their view on this name, the most recent being Goldman Sachs with a BUY rating and a target price of Y2,500, 40% higher than the current share price. Nine month…

Mitsubishi Estate

Mitsubishi Estate (8802) Too Cheap BUY