Zacks Investment Research upgraded shares of American Assets Trust (NYSE:AAT) from a strong sell rating to a hold rating in a research note published on Monday morning.
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. “
Other equities research analysts have also issued reports about the stock. Royal Bank of Canada set a $44.00 price objective on shares of American Assets Trust and gave the company a buy rating in a research note on Saturday, February 17th. Mizuho reaffirmed a hold rating and issued a $40.00 price objective on shares of American Assets Trust in a research note on Friday, November 10th. Finally, Bank of America lowered shares of American Assets Trust from a buy rating to a neutral rating and set a $41.00 price objective on the stock. in a research note on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. American Assets Trust has a consensus rating of Hold and an average target price of $44.00.
Shares of American Assets Trust (NYSE:AAT) opened at $31.88 on Monday. The company has a debt-to-equity ratio of 1.57, a current ratio of 3.15 and a quick ratio of 2.76. American Assets Trust has a 12 month low of $30.93 and a 12 month high of $44.83. The company has a market cap of $1,535.56, a price-to-earnings ratio of 51.42, a PEG ratio of 2.76 and a beta of 0.40.
American Assets Trust (NYSE:AAT) last posted its quarterly earnings data on Tuesday, February 13th. The real estate investment trust reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.02). American Assets Trust had a net margin of 10.16% and a return on equity of 3.76%. The firm had revenue of $81.75 million during the quarter. sell-side analysts anticipate that American Assets Trust will post 2.06 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Wednesday, March 14th. American Assets Trust’s dividend payout ratio is currently 174.19%.
In related news, CEO Ernest S. Rady bought 8,672 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The shares were acquired at an average cost of $39.43 per share, with a total value of $341,936.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ernest S. Rady bought 94,155 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were bought at an average cost of $32.31 per share, for a total transaction of $3,042,148.05. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 204,717 shares of company stock worth $7,353,155. 34.15% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisor Group Inc. boosted its stake in American Assets Trust by 19.7% during the second quarter. Advisor Group Inc. now owns 2,663 shares of the real estate investment trust’s stock worth $105,000 after acquiring an additional 439 shares in the last quarter. Schroder Investment Management Group bought a new position in American Assets Trust during the third quarter worth $204,000. Koch Industries Inc. bought a new position in American Assets Trust during the fourth quarter worth $206,000. Stifel Financial Corp bought a new position in American Assets Trust during the third quarter worth $222,000. Finally, Cubist Systematic Strategies LLC bought a new position in American Assets Trust during the second quarter worth $225,000. 99.48% of the stock is currently owned by institutional investors and hedge funds.
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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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