FY2016 Earnings Estimate for American Assets Trust Inc. Issued By KeyCorp (AAT)
American Assets Trust Inc. (NYSE:AAT) – Analysts at KeyCorp reduced their FY2016 earnings per share estimates for shares of American Assets Trust in a research report issued to clients and investors on Friday. KeyCorp analyst T. Thomas now expects that the firm will earn $1.86 per share for the year, down from their prior estimate of $1.87. KeyCorp also issued estimates for American Assets Trust’s Q4 2016 earnings at $0.48 EPS and FY2017 earnings at $2.06 EPS.
American Assets Trust (NYSE:AAT) last released its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.45 earnings per share 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%.
AAT has been the subject of a number of other research reports. Bank of America Corp. reaffirmed a “buy” rating on shares of American Assets Trust in a report on Thursday, July 7th. Zacks Investment Research raised American Assets Trust from a “sell” rating to a “hold” rating in a report on Thursday, September 1st. Mizuho lowered American Assets Trust from a “buy” rating to a “neutral” rating and set a $46.00 target price for the company. in a report on Monday, July 18th. Royal Bank Of Canada lifted their target price on American Assets Trust from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, August 1st. Finally, RBC Capital Markets reaffirmed an “outperform” rating and set a $53.00 target price (up previously from $49.00) on shares of American Assets Trust in a report on Monday, August 1st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $48.83.
Shares of American Assets Trust (NYSE:AAT) opened at 42.48 on Monday. The firm’s 50-day moving average is $43.88 and its 200-day moving average is $42.00. The firm has a market cap of $1.93 billion, a P/E ratio of 52.06 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.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Thursday, September 15th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $1.00 dividend on an annualized basis and a yield of 2.35%. American Assets Trust’s payout ratio is 121.95%.
In other news, CEO Ernest S. Rady bought 65,000 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The stock was bought at an average price of $43.06 per share, for a total transaction of $2,798,900.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 34.09% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in AAT. Capstone Asset Management Co. increased its stake in American Assets Trust by 1.1% in the second quarter. Capstone Asset Management Co. now owns 12,466 shares of the real estate investment trust’s stock worth $529,000 after buying an additional 130 shares during the last quarter. PineBridge Investments L.P. increased its stake in American Assets Trust by 3.8% in the second quarter. PineBridge Investments L.P. now owns 5,010 shares of the real estate investment trust’s stock worth $213,000 after buying an additional 183 shares during the last quarter. Arizona State Retirement System increased its stake in American Assets Trust by 1.0% in the second quarter. Arizona State Retirement System now owns 20,502 shares of the real estate investment trust’s stock worth $870,000 after buying an additional 200 shares during the last quarter. ProShare Advisors LLC increased its stake in American Assets Trust by 3.9% in the second quarter. ProShare Advisors LLC now owns 5,668 shares of the real estate investment trust’s stock worth $241,000 after buying an additional 215 shares during the last quarter. Finally, Paloma Partners Management Co increased its stake in American Assets Trust by 1.9% in the second quarter. Paloma Partners Management Co now owns 13,141 shares of the real estate investment trust’s stock worth $557,000 after buying an additional 241 shares during the last quarter. Institutional investors own 98.56% 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 high-barrier-to-entry markets in Southern California, Northern California, Oregon, Washington, Texas and Hawaii.
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