Gazit Globe (GZT) Raised to “Buy” at Zacks Investment Research

Gazit Globe (NYSE:GZT) (TSE:GZT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday, December 4th. The brokerage presently has a $12.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 13.96% from the stock’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. “

Separately, BidaskClub lowered Gazit Globe from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $11.50.

Shares of Gazit Globe (NYSE GZT) traded down $0.08 during mid-day trading on Monday, reaching $10.53. The company had a trading volume of 737 shares, compared to its average volume of 3,993. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.41 and a current ratio of 0.41. The stock has a market capitalization of $2,052.60, a PE ratio of 18.95 and a beta of 1.14. Gazit Globe has a 52 week low of $8.52 and a 52 week high of $10.82.

A number of institutional investors have recently made changes to their positions in GZT. Comerica Bank bought a new stake in Gazit Globe in the second quarter valued at about $101,000. World Asset Management Inc bought a new stake in Gazit Globe in the second quarter valued at about $113,000. Macquarie Group Ltd. bought a new stake in Gazit Globe in the third quarter valued at about $130,000. Citigroup Inc. increased its holdings in 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 during the last quarter. Finally, Bank of America Corp DE increased its holdings in 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 during the last quarter. 8.71% of the stock is owned by hedge funds and other institutional investors.

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About Gazit Globe

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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