TD Securities Keeps Their Buy Rating on Gazit-Globe Ltd

By Jason Carr

TD Securities analyst Sam Damiani reiterated a Buy rating on Gazit-Globe Ltd (NYSE: GZT) on May 23. The company’s shares closed yesterday at $9.84.

Damiani noted:

“We see Gazit as a way to own high-quality urban retail properties at a significant NAV discount that we expect to narrow as management pursues its goal of creating a more shareholder-friendly structure. As Gazit becomes more of a direct owner of property (the goal is to have under 50% of assets in publicly-traded subsidiaries within three years – we think sooner is likely), we expect the NAV discount to narrow. We also see upside potential through NAV growth, based on our view of the high quality and strong locations of the underlying properties. We are reiterating our BUY recommendation and increasing our target price to ILS46.00 (C$17.50). 4,500 4,500 4,000 4,000 3,500 3,500 3,000 3,000 2,500 2,500 May-17 Mar-17 Jan-17 Nov-16 Sep-16 Jul-16 GZT-TV: Price Company Profile Gazit is one of the largest owners, developers and operators of predominantly supermarket- anchored shopping centres in major urban markets across Canada, United States, Europe, Brazil, and Israel. Gazit,owns and operates over 135 properties with a gross leasable area of ~2.6 million square meters. Gazit also owns 32.7% of First Capital Realty Inc.”

According to, Damiani is ranked #2383 out of 4567 analysts.

Gazit-Globe Ltd has an analyst consensus of Moderate Buy.

Gazit-Globe Ltd’s market cap is currently $384.8M and has a P/E ratio of 1.44. The company has a book value ratio of 0.1815.

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Gazit-Globe Ltd. engages in the acquisition, construction, development and management of commercial properties. It operates through the following segments: Shopping Centers in Canada, Shopping Centers in North Europe, Shopping Centers in Central-Eastern Europe. The company was founded by Chaim Katzman in May 1982 and is headquartered in Tel Aviv, Israel.