Zacks Investment Research Upgrades Gazit-Globe Ltd. (GZT) to Strong-Buy
Gazit-Globe Ltd. (NYSE:GZT) (TSE:GZT) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Friday. The firm currently has a $11.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 10.78% from the company’s previous close.
According to Zacks, “Gazit-Globe Ltd. is a multinational real estate company engaged in the acquisition, development and management of income-producing properties. The company focuses on necessity-driven real estate, primarily supermarket-anchored shopping centers in urban markets. In addition, the company is active in the healthcare real estate sector, owning and operating medical office buildings and senior housing businesses in North America. Gazit-Globe Ltd. is based in Tel Aviv, Israel. “
Several other analysts also recently weighed in on GZT. BidaskClub upgraded Gazit-Globe from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 5th. Citigroup Inc. upgraded Gazit-Globe from a “neutral” rating to a “buy” rating and raised their target price for the company from $9.20 to $11.00 in a research note on Wednesday, July 12th. Finally, TD Securities restated a “buy” rating on shares of Gazit-Globe in a research note on Thursday, May 25th. Two analysts have rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Gazit-Globe has an average rating of “Hold” and a consensus price target of $12.17.
Shares of Gazit-Globe (GZT) opened at 9.93 on Friday. Gazit-Globe has a one year low of $8.32 and a one year high of $10.75. The stock has a market capitalization of $1.94 billion, a PE ratio of 7.01 and a beta of 1.12. The firm has a 50 day moving average price of $9.63 and a 200 day moving average price of $9.98.
Gazit-Globe (NYSE:GZT) (TSE:GZT) last announced its quarterly earnings results on Tuesday, August 22nd. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter. Gazit-Globe had a positive return on equity of 3.30% and a negative net margin of 16.74%. The firm had revenue of $191.66 million during the quarter.
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Several hedge funds have recently made changes to their positions in GZT. Comerica Bank acquired a new stake in shares of Gazit-Globe during the second quarter valued at $101,000. World Asset Management Inc acquired a new stake in shares of Gazit-Globe during the second quarter valued at $113,000. Citigroup Inc. increased its stake in shares of Gazit-Globe by 704.3% in the second quarter. Citigroup Inc. now owns 35,364 shares of the real estate investment trust’s stock valued at $342,000 after buying an additional 30,967 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Gazit-Globe by 191.0% in the first quarter. Bank of America Corp DE now owns 46,380 shares of the real estate investment trust’s stock valued at $485,000 after buying an additional 30,441 shares in the last quarter. Finally, UBS Group AG acquired a new stake in shares of Gazit-Globe during the first quarter valued at $493,000. Institutional investors own 8.68% of the company’s stock.
Gazit-Globe Company Profile
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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