American Assets Trust, Inc. (NYSE:AAT) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research cut shares of American Assets Trust, Inc. (NYSE:AAT) from a hold rating to a sell rating in a report published on Tuesday, October 31st.

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 have also recently weighed in on AAT. TheStreet cut American Assets Trust from a b- rating to a c+ rating in a research report on Wednesday, July 26th. BidaskClub upgraded American Assets Trust from a strong sell rating to a sell rating in a research report on Saturday, August 26th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $44.00.

Shares of American Assets Trust (NYSE:AAT) opened at $39.33 on Tuesday. American Assets Trust has a twelve month low of $36.79 and a twelve month high of $44.83. The stock has a market capitalization of $1,853.54, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 3.44 and a beta of 0.52. The company has a current ratio of 2.76, a quick ratio of 1.78 and a debt-to-equity ratio of 1.56.

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The business also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Thursday, December 7th will be given a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.75%. This is a boost from American Assets Trust’s previous quarterly dividend of $0.26. American Assets Trust’s dividend payout ratio (DPR) is presently 157.58%.

In other American Assets Trust news, CEO Ernest S. Rady bought 26,230 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were purchased at an average price of $38.62 per share, for a total transaction of $1,013,002.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ernest S. Rady bought 44,542 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was acquired at an average price of $40.48 per share, for a total transaction of $1,803,060.16. The disclosure for this purchase can be found here. Insiders purchased 419,039 shares of company stock worth $16,760,429 in the last 90 days. 34.15% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in AAT. Advisor Group Inc. boosted its stake in shares of 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 valued at $105,000 after purchasing an additional 439 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in shares of American Assets Trust by 83.2% during the second quarter. Riverhead Capital Management LLC now owns 3,298 shares of the real estate investment trust’s stock valued at $130,000 after purchasing an additional 1,498 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of American Assets Trust by 15.6% during the second quarter. Daiwa Securities Group Inc. now owns 3,700 shares of the real estate investment trust’s stock valued at $146,000 after purchasing an additional 500 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in shares of American Assets Trust by 55.0% during the second quarter. Perigon Wealth Management LLC now owns 3,875 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 1,375 shares in the last quarter. Finally, Schroder Investment Management Group acquired a new stake in shares of American Assets Trust during the third quarter valued at about $204,000. Hedge funds and other institutional investors own 97.95% 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 Southern California, Northern California, Oregon, Washington, Texas and Hawaii markets.

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