American Assets Trust Inc. (NYSE:AAT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.
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. “
A number of other brokerages have also weighed in on AAT. RBC Capital Markets restated an “outperform” rating and set a $53.00 price target (up previously from $49.00) on shares of American Assets Trust in a research note on Monday, August 1st. Royal Bank Of Canada boosted their price target on American Assets Trust from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, August 1st. Mizuho lowered American Assets Trust from a “buy” rating to a “neutral” rating and set a $46.00 price target on the stock. in a research note on Monday, July 18th. Finally, Bank of America Corp. restated a “buy” rating on shares of American Assets Trust in a research note on Thursday, July 7th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $48.83.
American Assets Trust (NYSE:AAT) traded down 1.94% during midday trading on Monday, reaching $42.54. 172,169 shares of the company’s stock were exchanged. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 52.13 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 firm’s 50 day moving average is $43.97 and its 200 day moving average is $41.91.
American Assets Trust (NYSE:AAT) last issued its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.01. American Assets Trust had a return on equity of 4.50% and a net margin of 12.97%. On average, equities analysts anticipate that American Assets Trust will post $1.86 earnings per share for the current year.
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 2.31%. American Assets Trust’s dividend payout ratio is currently 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 shares were purchased at an average price of $43.06 per share, for a total transaction of $2,798,900.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 34.09% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. State Street Corp raised its stake in American Assets Trust by 4.1% in the first quarter. State Street Corp now owns 813,656 shares of the real estate investment trust’s stock valued at $32,481,000 after buying an additional 32,224 shares in the last quarter. BB&T Securities LLC bought a new stake in American Assets Trust during the first quarter valued at approximately $227,000. Landscape Capital Management L.L.C. bought a new stake in American Assets Trust during the first quarter valued at approximately $823,000. JPMorgan Chase & Co. raised its stake in American Assets Trust by 10.3% in the first quarter. JPMorgan Chase & Co. now owns 347,129 shares of the real estate investment trust’s stock valued at $13,857,000 after buying an additional 32,337 shares in the last quarter. Finally, BlackRock Japan Co. Ltd raised its stake in American Assets Trust by 31.9% in the first quarter. BlackRock Japan Co. Ltd now owns 2,644 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 640 shares in the last quarter. Institutional investors and hedge funds 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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