Jonathan Yates, Emerging Money: Israel’s profitable Gazit-Globe is attractive for value investing
August 21, 2012–Israeli real estate development company Gazit-Globe Limited (GZT, quote) presents a very attractive opportunity for value investing.
Gazit-Globe’s price-to-book ratio of 0.82 and price-to-sales ratio of 0.87 make this company worth a look.
Based in Tel Aviv, Gazit-Globe has profitable operations around the world. Its home market of Israel is also healthy. The company buys, develops and manages income-producing properties in Israel, Europe, North America and Brazil.
Gazit-Globe focuses on shopping centers anchored by supermarkets. It also owns and operates medical office buildings and senior housing facilities in North America, and it develops and builds projects in Israel and Eastern Europe.
As of late May, Gazit-Globe owned and operated about 600 properties in 20 countries, with a gross leasable area of approximately 6.7 million square meters. This exposure to a range of markets diversifies the company’s holdings and creates a very wide, strong base of operations that’s attractive for value investing. In its diversification, Gazit-Globe resembles global real estate companies such as CBRE Group (CBG, quote)…Read More>>
