American Assets Trust, Inc. (NYSE:AAT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, May 24th.

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. “

AAT has been the subject of several other research reports. Mizuho downgraded shares of American Assets Trust from a “buy” rating to a “neutral” rating and set a $44.00 price target for the company. in a research note on Wednesday, February 22nd. Canaccord Genuity raised their price target on shares of American Assets Trust from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, April 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $48.50.

Shares of American Assets Trust (NYSE:AAT) traded down 2.01% during mid-day trading on Wednesday, hitting $40.06. 380,358 shares of the company’s stock traded hands. The firm has a 50-day moving average of $40.19 and a 200 day moving average of $42.06. American Assets Trust has a 52 week low of $37.54 and a 52 week high of $46.38. The company has a market cap of $1.89 billion, a PE ratio of 56.50 and a beta of 0.55.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 29th. Investors of record on Thursday, June 15th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Tuesday, June 13th. American Assets Trust’s dividend payout ratio is presently 146.48%.

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In other news, CEO Ernest S. Rady bought 47,976 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was acquired at an average price of $38.55 per share, with a total value of $1,849,474.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ernest S. Rady bought 46,140 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were purchased at an average cost of $39.21 per share, with a total value of $1,809,149.40. The disclosure for this purchase can be found here. Insiders have purchased 537,169 shares of company stock valued at $21,234,402 in the last three months. 34.15% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the company. Bowling Portfolio Management LLC increased its position in shares of American Assets Trust by 12.0% in the first quarter. Bowling Portfolio Management LLC now owns 9,810 shares of the real estate investment trust’s stock worth $410,000 after buying an additional 1,053 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of American Assets Trust during the fourth quarter worth $924,000. Metropolitan Life Insurance Co. NY increased its position in shares of American Assets Trust by 0.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 29,978 shares of the real estate investment trust’s stock worth $1,291,000 after buying an additional 95 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of American Assets Trust by 5.5% in the third quarter. Principal Financial Group Inc. now owns 299,719 shares of the real estate investment trust’s stock worth $13,002,000 after buying an additional 15,509 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its position in shares of American Assets Trust by 3.1% in the first quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the real estate investment trust’s stock worth $695,000 after buying an additional 500 shares in the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

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 Southern California, Northern California, Oregon, Washington, Texas and Hawaii markets.

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