Mizuho Reaffirms “Buy” Rating for American Assets Trust (AAT)
Mizuho reaffirmed their buy rating on shares of American Assets Trust (NYSE:AAT) in a research note released on Wednesday morning. Mizuho currently has a $43.00 price objective on the real estate investment trust’s stock.
A number of other equities research analysts have also issued reports on the stock. ValuEngine raised shares of American Assets Trust from a sell rating to a hold rating in a report on Tuesday, July 31st. Zacks Investment Research lowered shares of American Assets Trust from a buy rating to a hold rating in a report on Wednesday, July 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $41.00.
American Assets Trust stock traded up $0.34 during trading hours on Wednesday, reaching $39.38. The stock had a trading volume of 191,935 shares, compared to its average volume of 211,094. The firm has a market cap of $1.83 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 3.48 and a beta of 0.19. American Assets Trust has a 52 week low of $30.62 and a 52 week high of $39.99. The company has a quick ratio of 2.70, a current ratio of 2.10 and a debt-to-equity ratio of 1.57.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Stockholders of record on Thursday, December 13th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.84%. This is a boost from American Assets Trust’s previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, December 12th. American Assets Trust’s dividend payout ratio (DPR) is currently 56.25%.
Several large investors have recently bought and sold shares of AAT. Point72 Hong Kong Ltd lifted its position in shares of American Assets Trust by 277.1% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,719 shares of the real estate investment trust’s stock worth $104,000 after purchasing an additional 1,998 shares during the period. Picton Mahoney Asset Management purchased a new stake in shares of American Assets Trust in the 2nd quarter worth about $206,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of American Assets Trust in the 1st quarter worth about $212,000. Amalgamated Bank purchased a new stake in shares of American Assets Trust in the 2nd quarter worth about $216,000. Finally, United Services Automobile Association purchased a new stake in shares of American Assets Trust in the 2nd quarter worth about $227,000. 94.44% of the stock is owned by hedge funds and other institutional investors.
About American Assets Trust
American Assets Trust, Inc (the company) is a full service, vertically integrated and self-administered real estate investment trust, or REIT, headquartered in San Diego, California. The company has over 50 years of experience in acquiring, improving, developing and managing premier retail, office and residential properties throughout the United States in some of the nation's most dynamic, high-barrier-to-entry markets primarily in Southern California, Northern California, Oregon, Washington, Texas and Hawaii.
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