Trade Report: Today: National Bank Financial lowers the estimated FY2016 for Gazit-Globe Ltd. (GZT)

Today: National Bank Financial lowers the estimated FY2016 for Gazit-Globe Ltd. (GZT)

Gazit-Globe Ltd. (NYSE:GZT) (TSE:GZT) – Research analysts at National Bank Financial dropped their FY2016 earnings per share (EPS) estimates for Gazit-Globe in a research report issued on Wednesday. National Bank Financial analyst M. Kornack now expects that the brokerage will post earnings per share of $0.75 for the year, down from their prior forecast of $0.79. National Bank Financial also issued estimates for Gazit-Globe’s FY2017 earnings at $0.81 EPS.

Several other research analysts also recently weighed in on GZT. Zacks Investment Research downgraded shares of Gazit-Globe from a “hold” rating to a “sell” rating in a report on Friday, August 26th. Canaccord Genuity reiterated a “hold” rating and issued a $14.50 target price on shares of Gazit-Globe in a report on Thursday, October 13th. Finally, TheStreet upgraded shares of Gazit-Globe from a “sell” rating to a “hold” rating in a report on Wednesday, November 23rd. Four investment analysts have rated the stock with a hold rating, Gazit-Globe currently has an average rating of “Hold” and a consensus price target of $14.50.

Shares of Gazit-Globe (NYSE:GZT) opened at 8.72 on Monday. The company’s market cap is $1.69 billion. Gazit-Globe has a 12-month low of $7.15 and a 12-month high of $10.97. The firm has a 50-day moving average of $9.30 and a 200-day moving average of $9.51.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 13th. Stockholders of record on Tuesday, December 6th will be issued a $0.09 dividend. The ex-dividend date is Friday, December 2nd. This represents a $0.36 annualized dividend and a dividend yield of 4.13%. Gazit-Globe’s dividend payout ratio is currently 66.07%.

Hedge funds have recently made changes to their positions in the stock. 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 during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Gazit-Globe during the second quarter worth about $894,000. Bank of New York Mellon Corp increased its stake in Gazit-Globe by 33.8% in the second quarter. Bank of New York Mellon Corp now owns 451,846 shares of the real estate investment trust’s stock worth $4,040,000 after buying an additional 114,103 shares during the period. Boston Partners bought a new stake in Gazit-Globe during the second quarter worth about $165,000. Finally, Credit Suisse AG increased its stake in Gazit-Globe by 8.2% in the third quarter. Credit Suisse AG now owns 51,557 shares of the real estate investment trust’s stock worth $533,000 after buying an additional 3,907 shares during the period. Institutional investors own 13.46% of the company’s stock.

Gazit-Globe Company Profile

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