Gazit-Globe (GZT) Rating Increased 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. The firm presently has a $12.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s target price points to a potential upside of 13.10% 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 downgraded shares of Gazit-Globe from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th. Two 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 price target of $11.50.

Gazit-Globe (NYSE:GZT) opened at $10.61 on Monday. The company has a market cap of $2,039.06, a PE ratio of 18.82 and a beta of 1.14. Gazit-Globe has a fifty-two week low of $8.36 and a fifty-two week high of $10.82. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.37.

In other Gazit-Globe news, Vice Chairman Chaim Katzman sold 1,055,758 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $64.30, for a total value of $67,885,239.40. The sale was disclosed in a filing with the SEC, which is available through this link.

A number of hedge funds have recently modified their holdings of GZT. Comerica Bank bought a new position in Gazit-Globe in the 2nd quarter worth about $101,000. World Asset Management Inc bought a new position in Gazit-Globe in the 2nd quarter worth about $113,000. Macquarie Group Ltd. bought a new position in Gazit-Globe in the 3rd quarter worth about $130,000. Citigroup Inc. grew its stake in Gazit-Globe by 704.3% in the 2nd quarter. Citigroup Inc. now owns 35,364 shares of the real estate investment trust’s stock worth $342,000 after acquiring an additional 30,967 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Gazit-Globe by 191.0% in the 1st quarter. Bank of America Corp DE now owns 46,380 shares of the real estate investment trust’s stock worth $485,000 after acquiring an additional 30,441 shares in the last quarter. Institutional investors and hedge funds own 8.71% of the company’s stock.

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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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