American Assets Trust Inc. (AAT) Cut to “Hold” at Zacks Investment Research
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 analysts have also recently issued reports on AAT. Mizuho cut American Assets Trust from a buy rating to a neutral rating and set a $46.00 target price for the company. in a research report on Monday, July 18th. RBC Capital Markets reissued an outperform rating and issued a $53.00 target price (up from $49.00) on shares of American Assets Trust in a research report on Monday, August 1st. Royal Bank Of Canada upped 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. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $48.83.
Shares of American Assets Trust (NYSE:AAT) opened at 40.87 on Monday. The stock has a 50 day moving average price of $43.69 and a 200-day moving average price of $42.01. The stock has a market capitalization of $1.86 billion, a PE ratio of 50.09 and a beta of 0.62. American Assets Trust has a 52-week low of $34.07 and a 52-week high of $46.38.
American Assets Trust (NYSE:AAT) last announced its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by $0.01. American Assets Trust had a net margin of 12.97% and a return on equity of 4.50%. On average, equities research analysts anticipate that American Assets Trust will post $1.86 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, September 13th. This represents a $1.00 dividend on an annualized basis and a yield of 2.45%. American Assets Trust’s payout ratio is 121.95%.
In related news, CEO Ernest S. Rady acquired 65,000 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was bought at an average cost of $43.06 per share, with a total value of $2,798,900.00. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 34.09% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Aew Capital Management L P increased its position 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 worth $100,831,000 after buying an additional 385,300 shares during the period. Boston Partners increased its position 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 worth $85,443,000 after buying an additional 214,510 shares during the period. Vanguard Group Inc. increased its position in shares of 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 period. Bank of Montreal Can acquired a new position in shares of American Assets Trust during the second quarter worth about $4,383,000. Finally, JPMorgan Chase & Co. increased its position in shares of American Assets Trust by 25.2% in the second quarter. JPMorgan Chase & Co. now owns 434,679 shares of the real estate investment trust’s stock worth $18,448,000 after buying an additional 87,550 shares during the period. 98.56% of the stock is owned by institutional investors.
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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