American Assets Trust Inc. (AAT) Trading 1.6% Higher
American Assets Trust Inc. (NYSE:AAT) shares traded up 1.6% during mid-day trading on Tuesday . The company traded as high as $43.26 and last traded at $43.23, with a volume of 62,957 shares trading hands. The stock had previously closed at $42.53.
AAT has been the topic of a number of research analyst reports. Mizuho reissued a “buy” rating on shares of American Assets Trust in a report on Thursday, May 26th. Royal Bank Of Canada boosted 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. Finally, Canaccord Genuity reissued a “buy” rating on shares of American Assets Trust in a report on Wednesday, April 27th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. American Assets Trust currently has a consensus rating of “Buy” and an average price target of $47.25.
The stock has a market cap of $1.95 billion and a price-to-earnings ratio of 50.82. The stock has a 50 day moving average of $40.88 and a 200 day moving average of $38.86.
American Assets Trust (NYSE:AAT) last announced its quarterly earnings data on Tuesday, April 26th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. Equities analysts predict that American Assets Trust Inc. will post $1.88 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 24th. Stockholders of record on Friday, June 10th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Wednesday, June 8th.
In other news, Director Duane Nelles acquired 7,000 shares of American Assets Trust stock in a transaction dated Thursday, May 26th. The stock was purchased at an average cost of $39.76 per share, for a total transaction of $278,320.00. Following the completion of the purchase, the director now directly owns 1,678 shares in the company, valued at approximately $66,717.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Several hedge funds and institutional investors have recently made changes to their positions in AAT. Comerica Bank boosted its position in shares of 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 valued at $1,533,000 after buying an additional 869 shares during the last quarter. Rhumbline Advisers raised its stake in American Assets Trust by 7.6% in the fourth quarter. Rhumbline Advisers now owns 54,348 shares of the real estate investment trust’s stock valued at $2,084,000 after buying an additional 3,825 shares during the period. PNC Financial Services Group Inc. raised its stake in American Assets Trust by 23.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 32,754 shares of the real estate investment trust’s stock valued at $1,257,000 after buying an additional 6,270 shares during the period. Teacher Retirement System of Texas raised its stake in American Assets Trust by 9.0% in the fourth quarter. Teacher Retirement System of Texas now owns 117,343 shares of the real estate investment trust’s stock valued at $4,500,000 after buying an additional 9,726 shares during the period. 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 valued at $20,134,000 after buying an additional 10,000 shares during the period.
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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