Canaccord Genuity Reaffirms “Hold” Rating for Gazit-Globe Ltd. (GZT)
Gazit-Globe Ltd. (NYSE:GZT)‘s stock had its “hold” rating reaffirmed by stock analysts at Canaccord Genuity in a research report issued on Thursday. They currently have a $14.50 price target on the real estate investment trust’s stock. Canaccord Genuity’s price target suggests a potential upside of 47.21% from the company’s current price.
Separately, Zacks Investment Research downgraded Gazit-Globe from a “hold” rating to a “sell” rating in a research note on Friday, August 26th. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The company has an average rating of “Hold” and a consensus target price of $14.50.
Shares of Gazit-Globe (NYSE:GZT) traded up 0.41% during midday trading on Thursday, hitting $9.85. The stock had a trading volume of 8,661 shares. The firm has a 50-day moving average of $10.13 and a 200 day moving average of $9.50. The firm’s market cap is $1.91 billion. Gazit-Globe has a 12-month low of $7.15 and a 12-month high of $11.24.
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Gazit-Globe (NYSE:GZT) last released its quarterly earnings results on Tuesday, August 23rd. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter. Gazit-Globe had a positive return on equity of 0.51% and a negative net margin of 1.05%.
Several hedge funds have recently added to or reduced their stakes in GZT. Boston Partners bought a new stake in Gazit-Globe during the second quarter worth about $165,000. Eqis Capital Management Inc. increased its stake in Gazit-Globe by 2.1% in the second quarter. Eqis Capital Management Inc. now owns 44,473 shares of the real estate investment trust’s stock worth $398,000 after buying an additional 894 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Gazit-Globe during the second quarter worth about $894,000. Swiss National Bank increased its stake in Gazit-Globe by 10.1% in the second quarter. Swiss National Bank now owns 159,461 shares of the real estate investment trust’s stock worth $1,424,000 after buying an additional 14,590 shares in the last quarter. Finally, Counsel Portfolio Services Inc. bought a new stake in Gazit-Globe during the second quarter worth about $3,018,000. 3.76% of the stock is currently owned by institutional investors and hedge funds.
Gazit-Globe Company Profile
Gazit-Globe Ltd. is an owner and operator of supermarket-anchored shopping centers. The Company’s segments include Shopping centers in U.S., Shopping centers in Canada, Shopping centers in North Europe, Shopping centers in Central-Eastern Europe and Other Segments. The Company acquires, develops and redevelops supermarket-anchored neighborhood and community shopping centers in urban markets.
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