Gazit-Globe Ltd. (GZT) Downgraded to “Strong Sell” at BidaskClub
BidaskClub cut shares of Gazit-Globe Ltd. (NYSE:GZT) (TSE:GZT) from a sell rating to a strong sell rating in a research report sent to investors on Thursday.
A number of other research firms have also weighed in on GZT. TD Securities reiterated a buy rating on shares of Gazit-Globe in a research report on Thursday, May 25th. Citigroup Inc. upgraded Gazit-Globe from a neutral rating to a buy rating and increased their price target for the company from $9.20 to $11.00 in a research report on Wednesday, July 12th. Finally, Zacks Investment Research upgraded Gazit-Globe from a sell rating to a buy rating and set a $11.00 price target for the company in a research report on Tuesday, May 30th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $12.17.
Gazit-Globe (NYSE GZT) opened at 9.41 on Thursday. Gazit-Globe has a 12-month low of $8.32 and a 12-month high of $10.97. The firm has a 50-day moving average of $9.63 and a 200-day moving average of $9.97. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 8.52 and a beta of 1.12.
Gazit-Globe (NYSE:GZT) (TSE:GZT) last released its quarterly earnings results on Tuesday, May 23rd. The real estate investment trust reported $0.54 earnings per share for the quarter. The company had revenue of $186.92 million during the quarter.
Several institutional investors have recently added to or reduced their stakes in GZT. Mawer Investment Management Ltd. raised its stake in shares of Gazit-Globe by 1.7% in the second quarter. Mawer Investment Management Ltd. now owns 10,075,524 shares of the real estate investment trust’s stock worth $97,343,000 after buying an additional 171,525 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Gazit-Globe by 4.4% in the second quarter. Vanguard Group Inc. now owns 2,300,944 shares of the real estate investment trust’s stock worth $22,503,000 after buying an additional 96,678 shares during the last quarter. Norges Bank acquired a new stake in shares of Gazit-Globe during the fourth quarter worth approximately $12,824,000. Sentry Investments Corp. acquired a new stake in shares of Gazit-Globe during the first quarter worth approximately $33,525,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Gazit-Globe by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 453,747 shares of the real estate investment trust’s stock worth $4,750,000 after buying an additional 11,064 shares during the last quarter. Institutional investors and hedge funds own 8.68% of the company’s stock.
Gazit-Globe Ltd. is a real estate company specialized in retail premises. The Company is engaged in the acquisition, development and management of properties. Its segments include Finland, Norway, Sweden, and Estonia and Denmark. It focuses on supermarket-anchored shopping centers in urban growth markets.
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