OTCPK:GZTG.F

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Executive Summary

Gazit Globe, Ltd, through its subsidiaries, owns, develops, and operates supermarket-anchored shopping centers and retail-based mixed-use properties in North America, Brazil, Israel, and Europe.


Snowflake Analysis

Fair value second-rate dividend payer.


Similar Companies

Share Price & News

How has Gazit Globe's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: GZTG.F's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

8.9%

GZTG.F

6.2%

US Real Estate

2.8%

US Market


1 Year Return

-20.0%

GZTG.F

-18.6%

US Real Estate

9.3%

US Market

Return vs Industry: GZTG.F underperformed the US Real Estate industry which returned -18.6% over the past year.

Return vs Market: GZTG.F underperformed the US Market which returned 9.3% over the past year.


Shareholder returns

GZTG.FIndustryMarket
7 Day8.9%6.2%2.8%
30 Day-3.0%7.9%8.9%
90 Day-38.0%-28.5%-0.5%
1 Year-16.6%-20.0%-18.0%-18.6%11.8%9.3%
3 Year-22.2%-29.6%-21.0%-22.8%31.4%22.7%
5 Year-32.5%-44.1%-26.3%-28.5%58.7%40.9%

Price Volatility Vs. Market

How volatile is Gazit Globe's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Gazit Globe undervalued compared to its fair value and its price relative to the market?

47.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: GZTG.F ($6.88) is trading below our estimate of fair value ($12.99)

Significantly Below Fair Value: GZTG.F is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: GZTG.F is unprofitable, so we can't compare its PE Ratio to the Real Estate industry average.

PE vs Market: GZTG.F is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate GZTG.F's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: GZTG.F is good value based on its PB Ratio (0.6x) compared to the US Real Estate industry average (1.1x).


Next Steps

Future Growth

How is Gazit Globe forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

19.6%

Forecasted Real Estate industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Gazit Globe has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

  • Examine whether Gazit Globe is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  • While we do not consider unaudited financials to be a reliable enough to include in our analysis, you can access them on the OTC Markets Website. If you are looking for more of a qualitative research into the company, you can access Gazit Globe's filings and announcements here.
  • Explore growth companies in the Real Estate industry.

Past Performance

How has Gazit Globe performed over the past 5 years?

37.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: GZTG.F is currently unprofitable.

Growing Profit Margin: GZTG.F is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: GZTG.F is unprofitable, but has reduced losses over the past 5 years at a rate of 37.7% per year.

Accelerating Growth: Unable to compare GZTG.F's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: GZTG.F is unprofitable, making it difficult to compare its past year earnings growth to the Real Estate industry (-6.4%).


Return on Equity

High ROE: GZTG.F has a negative Return on Equity (0.65%), as it is currently unprofitable.


Next Steps

Financial Health

How is Gazit Globe's financial position?


Financial Position Analysis

Short Term Liabilities: GZTG.F's short term assets (₪4.5B) do not cover its short term liabilities (₪4.8B).

Long Term Liabilities: GZTG.F's short term assets (₪4.5B) do not cover its long term liabilities (₪24.0B).


Debt to Equity History and Analysis

Debt Level: GZTG.F's debt to equity ratio (180.4%) is considered high.

Reducing Debt: GZTG.F's debt to equity ratio has increased from 141.3% to 180.4% over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable GZTG.F has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: GZTG.F is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by 12.7% per year.


Next Steps

Dividend

What is Gazit Globe's current dividend yield, its reliability and sustainability?

7.77%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: GZTG.F's dividend (7.77%) is higher than the bottom 25% of dividend payers in the US market (1.69%).

High Dividend: GZTG.F's dividend (7.77%) is in the top 25% of dividend payers in the US market (4.55%)


Stability and Growth of Payments

Stable Dividend: GZTG.F's dividend payments have been volatile in the past 10 years.

Growing Dividend: GZTG.F's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: GZTG.F is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.1yrs

Average management tenure


CEO

Chaim Katzman (70yo)

2.33yrs

Tenure

₪5,800,000

Compensation

Mr. Chaim K. Katzman is Founder of Gazit-Globe Limited and has been its Chief Executive Officer and Vice Chairman since February 1, 2018. Mr. Katzman is CEO of Norstar Holdings Inc. Mr. Katzman founded Nor ...


CEO Compensation Analysis

Compensation vs Market: Chaim's total compensation ($USD1.66M) is below average for companies of similar size in the US market ($USD3.20M).

Compensation vs Earnings: Chaim's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Chaim Katzman
Founder2.33yrs₪5.80m0.033% 380.1k
Adi Jemini
Executive VP & CFO4.75yrs₪5.65m0.033% 386.7k
Zvi Gordon
VP & Head of Investments3yrs₪1.61m0.0084% 97.1k
Liza Haimowitz
VP & Global General Counsel1.42yrs₪3.53m0.012% 135.2k
Rami Vaisenberger
VP & Controller9.17yrs₪2.61m0.019% 222.5k
Jeffrey Mooallem
CEO & President of Gazit Horizons3.08yrs₪5.81mno data
Mia Stark
CEO & President of Gazit Brasilno data₪7.43mno data
Doron Lavi Segelson
Senior Analyst & Head of Investor Relations3.08yrsno datano data
Shiri Barkay
Head of Economics Department15.42yrsno datano data
Nimrod Brandt
Head of Innovation2.17yrsno datano data

3.1yrs

Average Tenure

46yo

Average Age

Experienced Management: GZTG.F's management team is considered experienced (3.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Chaim Katzman
Founder2.33yrs₪5.80m0.033% 380.1k
Zehavit Cohen
Independent Director4.25yrs₪297.00k0.00041% 4.7k
Ehud Arnon
Chairman of the Board2.25yrs₪278.00k0.0015% 17.5k
Shmuel Hauser
Independent External Director1.42yrs₪271.00k0.00041% 4.7k
Douglas Sesler
Independent Director8.42yrs₪212.00k0.00041% 4.7k
Ronnie Bar-On
Independent External Director7.08yrs₪497.00k0.00041% 4.7k
Limor Guttman
Independent External Director1.42yrs₪271.00k0.00041% 4.7k

2.3yrs

Average Tenure

64yo

Average Age

Experienced Board: GZTG.F's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Gazit Globe Ltd's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Gazit Globe Ltd
  • Ticker: GZTG.F
  • Exchange: OTCPK
  • Founded: 1982
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Market Cap: ₪4.040b
  • Listing Market Cap: ₪1.156b
  • Shares outstanding: 182.49m
  • Website: https://www.gazitglobe.com

Number of Employees


Location

  • Gazit Globe Ltd
  • Nisim Aloni 10
  • Tel Aviv
  • 62919
  • Israel

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
GZTTASE (The Tel-Aviv Stock Exchange)YesOrdinary SharesILILSMay 1996
GZTG.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDMay 1996

Biography

Gazit Globe, Ltd, through its subsidiaries, owns, develops, and operates supermarket-anchored shopping centers and retail-based mixed-use properties in North America, Brazil, Israel, and Europe. It owns and operates 103 properties covering an area of approximately 2.5 million square meters. The company was incorporated in 1982 and is headquartered in Tel Aviv, Israel. Gazit Globe Ltd is a subsidiary of Norstar Holdings Inc. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/02 05:14
End of Day Share Price2020/05/27 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.