American Assets Trust Inc. (NYSE:AAT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “American Assets, Inc. is a real estate investment trust, or REIT, that owns, operates, acquires and develops retail and office properties primarily in Southern California, Northern California and Hawaii. The trusts assets include retail properties, office properties, Waikiki Beach Walk property and multifamily properties. American Assets, Inc. is based in San Diego, California. “
Other research analysts have also issued reports about the company. Bank of America Corp. reissued a “buy” rating on shares of American Assets Trust in a research report on Thursday, July 7th. Mizuho lowered American Assets Trust from a “buy” rating to a “neutral” rating and set a $46.00 price target on the stock. in a research report on Monday, July 18th. RBC Capital Markets reissued an “outperform” rating and set a $53.00 price target (up from $49.00) on shares of American Assets Trust in a research report on Monday, August 1st. Finally, Royal Bank Of Canada upped their price target on American Assets Trust from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, August 1st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. American Assets Trust has an average rating of “Buy” and an average target price of $48.83.
American Assets Trust (NYSE:AAT) opened at 41.72 on Monday. The company’s 50-day moving average price is $43.79 and its 200 day moving average price is $42.02. American Assets Trust has a 52-week low of $34.07 and a 52-week high of $46.38. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 51.13 and a beta of 0.62.
American Assets Trust (NYSE:AAT) last posted its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.46 by $0.01. American Assets Trust had a net margin of 12.97% and a return on equity of 4.50%. Equities research analysts predict that American Assets Trust will post $1.86 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Tuesday, September 13th. American Assets Trust’s payout ratio is currently 121.95%.
In related news, CEO Ernest S. Rady purchased 65,000 shares of the firm’s stock in a transaction dated Monday, September 12th. The stock was bought at an average price of $43.06 per share, for a total transaction of $2,798,900.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 34.09% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in AAT. Aperio Group LLC increased its stake in American Assets Trust by 57.6% in the first quarter. Aperio Group LLC now owns 11,428 shares of the real estate investment trust’s stock valued at $456,000 after buying an additional 4,175 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new stake in American Assets Trust during the first quarter valued at about $252,000. Ngam Advisors L.P. increased its stake in American Assets Trust by 14.8% in the first quarter. Ngam Advisors L.P. now owns 92,931 shares of the real estate investment trust’s stock valued at $3,710,000 after buying an additional 11,995 shares during the period. TIAA CREF Investment Management LLC increased its stake in American Assets Trust by 41.9% in the first quarter. TIAA CREF Investment Management LLC now owns 226,967 shares of the real estate investment trust’s stock valued at $9,061,000 after buying an additional 67,015 shares during the period. Finally, Teachers Advisors Inc. increased its stake in American Assets Trust by 5.6% in the first quarter. Teachers Advisors Inc. now owns 770,293 shares of the real estate investment trust’s stock valued at $30,750,000 after buying an additional 40,855 shares during the period. Institutional investors own 98.56% of the company’s stock.
About American Assets Trust
American Assets Trust, Inc is a full service, vertically integrated and self-administered real estate investment trust (REIT). The Company owns, operates, acquires and develops retail, office, multifamily and mixed-use properties in high-barrier-to-entry markets in Southern California, Northern California, Oregon, Washington, Texas and Hawaii.
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