Gazit-Globe Ltd. (NYSE:GZT) (TSE:GZT) declared a special dividend on Tuesday, August 22nd, Wall Street Journal reports. Shareholders of record on Tuesday, September 19th will be given a dividend of 0.0966 per share by the real estate investment trust on Tuesday, October 3rd. The ex-dividend date is Tuesday, September 19th.

Gazit-Globe has raised its dividend by an average of 10.6% annually over the last three years. Gazit-Globe has a payout ratio of 150.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Gazit-Globe to earn $0.89 per share next year, which means the company may not be able to cover its $1.40 annual dividend with an expected future payout ratio of 157.3%.

Gazit-Globe (GZT) opened at 9.84 on Thursday. The firm has a 50 day moving average of $9.66 and a 200 day moving average of $9.96. The firm has a market capitalization of $1.92 billion, a P/E ratio of 7.00 and a beta of 1.12. Gazit-Globe has a 12-month low of $8.32 and a 12-month high of $10.69.

Gazit-Globe (NYSE:GZT) (TSE:GZT) last released its earnings results on Tuesday, August 22nd. The real estate investment trust reported $0.52 EPS for the quarter. The company had revenue of $191.66 million for the quarter. Gazit-Globe had a positive return on equity of 3.30% and a negative net margin of 16.74%.

In related news, Vice Chairman Chaim Katzman sold 1,055,758 shares of Gazit-Globe stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $64.30, for a total value of $67,885,239.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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A number of equities research analysts have recently commented on the company. Zacks Investment Research upgraded Gazit-Globe from a “hold” rating to a “strong-buy” rating and set a $11.00 target price on the stock in a research note on Friday, August 25th. BidaskClub upgraded Gazit-Globe from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Citigroup Inc. upgraded Gazit-Globe from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $9.20 to $11.00 in a research note on Wednesday, July 12th. Finally, TD Securities reissued a “buy” rating on shares of Gazit-Globe in a report on Thursday, May 25th. Two analysts have rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $12.17.

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.

Dividend History for Gazit-Globe (NYSE:GZT)

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