American Assets Trust, Inc. (AAT) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of American Assets Trust, Inc. (NYSE:AAT) from a hold rating to a buy rating in a research note issued to investors on Thursday morning. They currently have $45.00 target price on the real estate investment trust’s stock.
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 also recently commented on the company. BidaskClub raised American Assets Trust from a strong sell rating to a sell rating in a research note on Saturday, August 26th. TheStreet downgraded American Assets Trust from a b- rating to a c+ rating in a research note on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $46.33.
American Assets Trust (NYSE AAT) opened at 40.75 on Thursday. American Assets Trust has a 52 week low of $37.54 and a 52 week high of $45.50. The firm has a market cap of $1.92 billion, a P/E ratio of 61.93 and a beta of 0.51. The firm’s 50-day moving average price is $40.28 and its 200 day moving average price is $41.07.
American Assets Trust (NYSE:AAT) last issued its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.49 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.01. The business had revenue of $77.11 million for the quarter. American Assets Trust had a return on equity of 3.94% and a net margin of 10.93%. Equities analysts forecast that American Assets Trust will post $0.63 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Wednesday, September 13th. American Assets Trust’s dividend payout ratio is currently 157.58%.
In other news, CEO Ernest S. Rady acquired 37,738 shares of the stock in a transaction dated Wednesday, June 14th. The stock was bought at an average price of $40.84 per share, with a total value of $1,541,219.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ernest S. Rady acquired 42,950 shares of the stock in a transaction dated Friday, June 9th. The stock was purchased at an average cost of $40.25 per share, with a total value of $1,728,737.50. The disclosure for this purchase can be found here. Insiders bought 526,460 shares of company stock valued at $21,188,845 in the last ninety days. 34.15% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in AAT. Macquarie Group Ltd. acquired a new position in shares of American Assets Trust in the fourth quarter valued at approximately $595,000. Louisiana State Employees Retirement System increased its stake 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 valued at $695,000 after buying an additional 500 shares during the period. Russell Investments Group Ltd. increased its stake in shares of American Assets Trust by 30.9% in the first quarter. Russell Investments Group Ltd. now owns 28,491 shares of the real estate investment trust’s stock valued at $1,192,000 after buying an additional 6,728 shares during the period. Wells Fargo & Company MN increased its stake in shares of American Assets Trust by 15.2% in the first quarter. Wells Fargo & Company MN now owns 283,393 shares of the real estate investment trust’s stock valued at $11,858,000 after buying an additional 37,482 shares during the period. Finally, Bowling Portfolio Management LLC increased its stake 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 valued at $410,000 after buying an additional 1,053 shares during the period. 97.83% of the stock is 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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