American Assets Trust Inc. (AAT) Downgraded by Zacks Investment Research
American Assets Trust Inc. (NYSE:AAT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.
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 issued reports on AAT. Mizuho lowered shares of American Assets Trust from a “buy” rating to a “neutral” rating and set a $46.00 price target for the company. in a research note on Monday, July 18th. RBC Capital Markets reissued an “outperform” rating and set a $53.00 price objective (up from $49.00) on shares of American Assets Trust in a research report on Monday, August 1st. Royal Bank Of Canada increased their price objective on shares of 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 given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $48.83.
American Assets Trust (NYSE:AAT) traded down 1.94% during mid-day trading on Monday, hitting $42.54. 172,169 shares of the stock traded hands. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 52.13 and a beta of 0.62. The company’s 50 day moving average price is $43.97 and its 200-day moving average price is $41.91. American Assets Trust has a 1-year low of $34.07 and a 1-year high of $46.38.
American Assets Trust (NYSE:AAT) last issued its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by $0.01. American Assets Trust had a return on equity of 4.50% and a net margin of 12.97%. Analysts predict that American Assets Trust will post $1.86 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Tuesday, September 13th. American Assets Trust’s payout ratio is presently 121.95%.
In related news, CEO Ernest S. Rady purchased 65,000 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were purchased at an average price of $43.06 per share, with a total value of $2,798,900.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 34.09% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. State Street Corp increased its stake in shares of American Assets Trust by 4.1% in the first quarter. State Street Corp now owns 813,656 shares of the real estate investment trust’s stock worth $32,481,000 after buying an additional 32,224 shares during the last quarter. BB&T Securities LLC acquired a new position in shares of American Assets Trust during the first quarter valued at $227,000. Landscape Capital Management L.L.C. acquired a new position in shares of American Assets Trust during the first quarter valued at $823,000. JPMorgan Chase & Co. boosted its position in shares of American Assets Trust by 10.3% in the first quarter. JPMorgan Chase & Co. now owns 347,129 shares of the real estate investment trust’s stock valued at $13,857,000 after buying an additional 32,337 shares during the period. Finally, BlackRock Japan Co. Ltd boosted its position in shares of American Assets Trust by 31.9% in the first quarter. BlackRock Japan Co. Ltd now owns 2,644 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 640 shares during the period. 98.56% of the stock is currently owned by hedge funds and other 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.
Receive News & Stock Ratings for American Assets Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Assets Trust Inc. and related stocks with our FREE daily email newsletter.