Analysts Set Gazit-Globe Ltd. (GZT) Target Price at $12.75

Gazit-Globe Ltd. (NYSE:GZT) (TSE:GZT) has been assigned an average recommendation of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat.com reports. Two investment 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 average twelve-month target price among brokerages that have covered the stock in the last year is $12.75.

GZT has been the topic of several recent research reports. Zacks Investment Research upgraded Gazit-Globe from a “sell” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Tuesday, May 30th. BidaskClub cut Gazit-Globe from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Citigroup Inc. upgraded Gazit-Globe from a “neutral” rating to a “buy” rating and raised their price target for the stock from $9.20 to $11.00 in a research report on Wednesday, July 12th. Finally, TD Securities restated a “buy” rating on shares of Gazit-Globe in a research report on Thursday, May 25th.

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A number of hedge funds have recently added to or reduced their stakes in the stock. Eqis Capital Management Inc. raised its stake in Gazit-Globe by 4.8% in the second quarter. Eqis Capital Management Inc. now owns 88,563 shares of the real estate investment trust’s stock valued at $866,000 after buying an additional 4,037 shares during the period. Swiss National Bank raised its stake in Gazit-Globe by 3.0% in the second quarter. Swiss National Bank now owns 165,465 shares of the real estate investment trust’s stock valued at $1,598,000 after buying an additional 4,788 shares during the period. Edmond DE Rothschild Holding S.A. raised its stake in Gazit-Globe by 7.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 79,240 shares of the real estate investment trust’s stock valued at $814,000 after buying an additional 5,650 shares during the period. Renaissance Technologies LLC raised its stake in Gazit-Globe by 13.4% in the fourth quarter. Renaissance Technologies LLC now owns 73,300 shares of the real estate investment trust’s stock valued at $633,000 after buying an additional 8,674 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its stake in Gazit-Globe by 3.6% in the second quarter. State of New Jersey Common Pension Fund D now owns 287,500 shares of the real estate investment trust’s stock valued at $2,809,000 after buying an additional 10,000 shares during the period. 8.81% of the stock is currently owned by institutional investors and hedge funds.

Gazit-Globe (NYSE:GZT) opened at 9.30 on Tuesday. The company’s 50-day moving average is $9.69 and its 200 day moving average is $9.97. Gazit-Globe has a 12 month low of $8.32 and a 12 month high of $10.97. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 8.35 and a beta of 1.12.

Gazit-Globe (NYSE:GZT) (TSE:GZT) last posted its quarterly earnings data on Tuesday, May 23rd. The real estate investment trust reported $0.54 earnings per share for the quarter. The firm had revenue of $186.92 million for the quarter.

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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