American Assets Trust Inc. (AAT) Shares Down 0.8%
American Assets Trust Inc. (NYSE:AAT)’s share price fell 0.8% during trading on Monday . The company traded as low as $45.01 and last traded at $45.05, with a volume of 59,504 shares traded. The stock had previously closed at $45.41.
A number of research firms recently commented on AAT. Canaccord Genuity reiterated a “buy” rating on shares of American Assets Trust in a report on Wednesday, April 27th. Royal Bank Of Canada lifted their price target on American Assets Trust from $48.00 to $49.00 and gave the stock an “outperform” rating in a report on Monday, May 2nd. Mizuho cut American Assets Trust from a “buy” rating to a “neutral” rating and set a $46.00 price target for the company. in a report on Monday, July 18th. Bank of America Corp. restated a “buy” rating on shares of American Assets Trust in a research report on Thursday, July 7th. Finally, Zacks Investment Research downgraded shares of American Assets Trust from a “hold” rating to a “sell” rating in a research report on Monday, July 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $49.20.
The firm has a market capitalization of $2.04 billion and a P/E ratio of 54.95. The firm’s 50 day moving average price is $44.38 and its 200-day moving average price is $40.30.
American Assets Trust (NYSE:AAT) last posted its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.01. Analysts predict that American Assets Trust Inc. will post $1.86 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.23%.
In other American Assets Trust news, Director Duane Nelles bought 7,000 shares of the stock in a transaction that occurred on Thursday, May 26th. The shares were bought at an average price of $39.76 per share, for a total transaction of $278,320.00. Following the acquisition, the director now directly owns 1,678 shares of the company’s stock, valued at approximately $66,717.28. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Other large investors have bought and sold shares of the company. First Trust Advisors LP raised its stake in American Assets Trust by 206.2% in the fourth quarter. First Trust Advisors LP now owns 43,690 shares of the real estate investment trust’s stock worth $1,676,000 after buying an additional 29,421 shares in the last quarter. Comerica Bank raised its stake in American Assets Trust by 2.2% in the fourth quarter. Comerica Bank now owns 40,810 shares of the real estate investment trust’s stock worth $1,533,000 after buying an additional 869 shares in the last quarter. Bank of Montreal Can raised its stake in American Assets Trust by 168.5% in the fourth quarter. Bank of Montreal Can now owns 87,209 shares of the real estate investment trust’s stock worth $3,344,000 after buying an additional 54,726 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in American Assets Trust by 1.9% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 525,000 shares of the real estate investment trust’s stock worth $20,134,000 after buying an additional 10,000 shares in the last quarter.
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 attractive, high-barrier-to-entry markets in Southern California, Northern California, Oregon, Washington, Texas and Hawaii.
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