American Assets Trust (NYSE:AAT) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of American Assets Trust (NYSE:AAT) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

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. “

AAT has been the subject of several other research reports. ValuEngine lowered shares of American Assets Trust from a buy rating to a hold rating in a research note on Thursday, August 1st. Morgan Stanley set a $51.00 target price on shares of American Assets Trust and gave the stock a buy rating in a research note on Wednesday, June 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $50.00.

NYSE AAT opened at $46.77 on Tuesday. American Assets Trust has a 1 year low of $35.37 and a 1 year high of $48.30. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 3.34 and a beta of 0.36. The company has a fifty day moving average price of $46.83 and a 200-day moving average price of $46.45.

American Assets Trust (NYSE:AAT) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.34). American Assets Trust had a return on equity of 3.99% and a net margin of 11.08%. The firm had revenue of $84.11 million during the quarter, compared to the consensus estimate of $80.72 million. On average, research analysts anticipate that American Assets Trust will post 2.22 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were given a dividend of $0.28 per share. The ex-dividend date was Wednesday, September 11th. This represents a $1.12 annualized dividend and a yield of 2.39%. American Assets Trust’s payout ratio is currently 53.59%.

A number of institutional investors and hedge funds have recently bought and sold shares of AAT. Vanguard Group Inc. grew its position in American Assets Trust by 39.8% during the second quarter. Vanguard Group Inc. now owns 7,716,337 shares of the real estate investment trust’s stock valued at $363,594,000 after buying an additional 2,198,588 shares during the period. BlackRock Inc. grew its position in American Assets Trust by 17.5% during the second quarter. BlackRock Inc. now owns 7,750,256 shares of the real estate investment trust’s stock valued at $365,190,000 after buying an additional 1,153,452 shares during the period. Nuveen Asset Management LLC bought a new position in American Assets Trust during the second quarter valued at about $51,314,000. Northern Trust Corp grew its position in American Assets Trust by 105.2% during the second quarter. Northern Trust Corp now owns 1,659,490 shares of the real estate investment trust’s stock valued at $78,195,000 after buying an additional 850,678 shares during the period. Finally, Invesco Ltd. grew its position in American Assets Trust by 61.6% during the second quarter. Invesco Ltd. now owns 1,902,572 shares of the real estate investment trust’s stock valued at $89,649,000 after buying an additional 725,298 shares during the period. Institutional investors own 96.09% of the company’s stock.

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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