Zacks Investment Research lowered shares of American Assets Trust, Inc. (NYSE:AAT) from a buy rating to a hold rating in a research report released on Tuesday.

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 analysts have also recently issued reports on AAT. BidaskClub raised shares of American Assets Trust from a strong sell rating to a sell rating in a report on Thursday, June 15th. TheStreet cut shares of American Assets Trust from a b- rating to a c+ rating in a report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $46.33.

American Assets Trust (NYSE:AAT) opened at 40.31 on Tuesday. The company has a market cap of $1.90 billion, a P/E ratio of 61.26 and a beta of 0.52. American Assets Trust has a 52 week low of $37.54 and a 52 week high of $45.50. The company has a 50-day moving average of $40.04 and a 200-day moving average of $41.17.

American Assets Trust (NYSE:AAT) last posted its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by $0.01. The company had revenue of $77.11 million during the quarter. American Assets Trust had a net margin of 10.93% and a return on equity of 3.94%. On average, equities research analysts predict that American Assets Trust will post $0.63 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 14th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, September 13th. This represents a $1.04 annualized dividend and a yield of 2.58%. American Assets Trust’s dividend payout ratio is presently 157.58%.

In related news, CEO Ernest S. Rady purchased 71,110 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The shares were purchased at an average cost of $39.73 per share, with a total value of $2,825,200.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ernest S. Rady bought 42,950 shares of the company’s stock in a transaction on Friday, June 9th. The shares were acquired at an average cost of $40.25 per share, for a total transaction of $1,728,737.50. The disclosure for this purchase can be found here. Insiders purchased 438,546 shares of company stock worth $17,641,014 over the last ninety days. 34.15% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Piedmont Investment Advisors LLC acquired a new stake in shares of American Assets Trust during the second quarter worth $353,000. Cubist Systematic Strategies LLC acquired a new stake in shares of American Assets Trust during the second quarter worth $225,000. State Street Corp boosted its stake in shares of American Assets Trust by 2.6% in the second quarter. State Street Corp now owns 1,549,111 shares of the real estate investment trust’s stock worth $61,019,000 after buying an additional 38,719 shares during the period. Adelante Capital Management LLC boosted its stake in shares of American Assets Trust by 28.9% in the second quarter. Adelante Capital Management LLC now owns 377,455 shares of the real estate investment trust’s stock worth $14,868,000 after buying an additional 84,714 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of American Assets Trust by 131.4% in the second quarter. Goldman Sachs Group Inc. now owns 292,463 shares of the real estate investment trust’s stock worth $11,520,000 after buying an additional 166,072 shares during the period. 97.83% of the stock is currently owned by institutional investors.

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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