American Assets Trust Inc. (AAT) Sets New 1-Year High at $45.21
American Assets Trust Inc. (NYSE:AAT) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $45.21 and last traded at $45.12, with a volume of 142,493 shares. The stock had previously closed at $44.71.
Several research analysts have recently commented on the company. Zacks Investment Research downgraded American Assets Trust from a “hold” rating to a “sell” rating in a report on Monday, July 18th. Mizuho downgraded American Assets Trust from a “buy” rating to a “neutral” rating and set a $46.00 price objective on the stock. in a report on Monday, July 18th. Bank of America Corp. reiterated a “buy” rating on shares of American Assets Trust in a report on Thursday, July 7th. Royal Bank Of Canada lifted their price objective 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 reiterated 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, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $47.25.
The stock’s 50-day moving average price is $42.39 and its 200 day moving average price is $39.35. The firm has a market cap of $2.06 billion and a P/E ratio of 53.62.
American Assets Trust (NYSE:AAT) last issued its quarterly earnings results on Tuesday, April 26th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.01. Analysts forecast that American Assets Trust Inc. will post $1.87 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 24th. Shareholders of record on Friday, June 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, June 8th. This represents a $1.00 dividend on an annualized basis and a yield of 2.21%.
In other American Assets Trust news, Director Duane Nelles purchased 7,000 shares of the business’s stock in a transaction on Thursday, May 26th. The stock was acquired at an average price of $39.76 per share, for a total transaction of $278,320.00. Following the purchase, the director now owns 1,678 shares of the company’s stock, valued at approximately $66,717.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Other hedge funds and institutional investors recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position 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. Comerica Bank increased its position 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 valued at $1,533,000 after buying an additional 869 shares during the period. First Trust Advisors LP increased its position 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 valued at $1,676,000 after buying an additional 29,421 shares during the period. Rhumbline Advisers increased its position 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. Finally, Bank of Montreal Can increased its position 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 valued at $3,344,000 after buying an additional 54,726 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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