Zacks Investment Research upgraded shares of Gazit-Globe (NYSE:GZT) (TSE:GZT) from a hold rating to a buy rating in a research note published on Monday. The brokerage currently has $12.00 price target on the real estate investment trust’s stock.
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 cut Gazit-Globe from a sell rating to a strong sell rating in a research note 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. Gazit-Globe has a consensus rating of Hold and a consensus price target of $11.50.
Gazit-Globe (NYSE GZT) opened at $10.29 on Monday. Gazit-Globe has a 52 week low of $8.36 and a 52 week high of $10.82. The stock has a market capitalization of $2,051.75, a P/E ratio of 18.94 and a beta of 1.14. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 1.37.
The company also recently disclosed a special dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a $0.0992 dividend. The ex-dividend date of this dividend is Sunday, December 17th. This represents a yield of 4%. This is a boost from Gazit-Globe’s previous special dividend of $0.10.
In related news, Vice Chairman Chaim Katzman sold 1,055,758 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $64.30, for a total value of $67,885,239.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Macquarie Group Ltd. bought a new stake in Gazit-Globe during the 3rd quarter valued at $130,000. Ninepoint Partners LP bought a new stake in Gazit-Globe during the 3rd quarter valued at $496,000. Bank of New York Mellon Corp boosted its position in Gazit-Globe by 9.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 205,160 shares of the real estate investment trust’s stock valued at $1,996,000 after acquiring an additional 16,870 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its position in Gazit-Globe by 15.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 332,500 shares of the real estate investment trust’s stock valued at $3,189,000 after acquiring an additional 45,000 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Gazit-Globe by 4.4% during the 2nd quarter. Vanguard Group Inc. now owns 2,300,944 shares of the real estate investment trust’s stock valued at $22,503,000 after acquiring an additional 96,678 shares in the last quarter. 8.71% of the stock is currently owned by institutional investors and hedge funds.
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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