American Assets Trust (AAT) Lifted to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of American Assets Trust (NYSE:AAT) from a strong sell rating to a hold rating in a research note released on Monday morning.
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. “
Several other research analysts have also recently weighed in on AAT. Bank of America cut shares of American Assets Trust from a buy rating to a neutral rating and set a $41.00 price target on the stock. in a report on Thursday, November 2nd. Mizuho restated a hold rating and set a $40.00 target price on shares of American Assets Trust in a research report on Friday, November 10th. Finally, Royal Bank of Canada set a $44.00 target price on shares of American Assets Trust and gave the stock a buy rating in a research report on Saturday, February 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $44.80.
American Assets Trust (NYSE:AAT) last released its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.02). The company had revenue of $81.75 million during the quarter. American Assets Trust had a net margin of 10.16% and a return on equity of 3.76%. equities research analysts anticipate that American Assets Trust will post 2.06 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.31%. American Assets Trust’s payout ratio is presently 174.19%.
In other American Assets Trust news, CEO Ernest S. Rady bought 10,789 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were purchased at an average price of $39.20 per share, for a total transaction of $422,928.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ernest S. Rady bought 94,155 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were acquired at an average price of $32.31 per share, for a total transaction of $3,042,148.05. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 196,045 shares of company stock worth $7,011,218. Company insiders own 34.15% of the company’s stock.
Large investors have recently made changes to their positions in the business. Advisor Group Inc. grew its position in shares of American Assets Trust by 19.7% during the 2nd quarter. Advisor Group Inc. now owns 2,663 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 439 shares in the last quarter. Schroder Investment Management Group acquired a new stake in shares of American Assets Trust during the 3rd quarter worth approximately $204,000. Koch Industries Inc. acquired a new stake in shares of American Assets Trust during the 4th quarter worth approximately $206,000. Stifel Financial Corp acquired a new stake in shares of American Assets Trust during the 3rd quarter worth approximately $222,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of American Assets Trust during the 2nd quarter worth approximately $225,000. Hedge funds and other institutional investors own 99.48% 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 Southern California, Northern California, Oregon, Washington, Texas and Hawaii markets.
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