Zacks Investment Research upgraded shares of American Assets Trust Inc. (NYSE:AAT) from a hold rating to a buy rating in a report released on Tuesday. The firm currently has $47.00 price objective on the real estate investment trust’s stock.
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. “
A number of other research firms also recently issued reports on AAT. Mizuho reaffirmed a buy rating on shares of American Assets Trust in a research note on Thursday, May 26th. RBC Capital Markets reissued an outperform rating and set a $53.00 target price (up previously from $49.00) on shares of American Assets Trust in a research report on Monday, August 1st. Royal Bank Of Canada boosted their target price 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. Finally, Bank of America Corp. reissued a buy rating on shares of American Assets Trust in a research report on Thursday, July 7th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of $48.83.
American Assets Trust (NYSE:AAT) opened at 42.31 on Tuesday. American Assets Trust has a 12-month low of $34.07 and a 12-month high of $46.38. The firm has a 50-day moving average price of $44.76 and a 200-day moving average price of $41.45. The company has a market cap of $1.92 billion, a P/E ratio of 51.85 and a beta of 0.71.
American Assets Trust (NYSE:AAT) last released its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.01. American Assets Trust had a return on equity of 4.50% and a net margin of 12.97%. On average, equities research analysts forecast that American Assets Trust will post $1.86 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Tuesday, September 13th. American Assets Trust’s payout ratio is currently 121.95%.
In other American Assets Trust news, CEO Ernest S. Rady acquired 65,000 shares of the company’s stock in a transaction that occurred on 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 legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 34.09% of the company’s stock.
A number of institutional investors have recently bought and sold shares of AAT. Vanguard Group Inc. boosted its position in American Assets Trust by 1.9% in the second quarter. Vanguard Group Inc. now owns 5,691,552 shares of the real estate investment trust’s stock worth $241,549,000 after buying an additional 104,089 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of American Assets Trust by 2.6% in the second quarter. BlackRock Fund Advisors now owns 2,469,890 shares of the real estate investment trust’s stock valued at $104,822,000 after buying an additional 62,206 shares in the last quarter. FMR LLC boosted its stake in shares of American Assets Trust by 1.2% in the second quarter. FMR LLC now owns 2,460,583 shares of the real estate investment trust’s stock valued at $104,427,000 after buying an additional 30,000 shares in the last quarter. Aew Capital Management L P boosted its stake in shares of American Assets Trust by 19.4% in the second quarter. Aew Capital Management L P now owns 2,375,859 shares of the real estate investment trust’s stock valued at $100,831,000 after buying an additional 385,300 shares in the last quarter. Finally, Boston Partners boosted its stake in shares of American Assets Trust by 11.9% in the second quarter. Boston Partners now owns 2,013,267 shares of the real estate investment trust’s stock valued at $85,443,000 after buying an additional 214,510 shares in the last quarter. Institutional investors own 98.56% of the company’s stock.
American Assets Trust Company Profile
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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