Zacks Investment Research upgraded shares of American Assets Trust (NYSE:AAT) from a sell rating to a hold rating in a report issued on Wednesday, March 14th.
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 analysts also recently issued reports about the stock. Mizuho raised shares of American Assets Trust from a neutral rating to a buy rating and set a $44.00 price target for the company in a research note on Thursday, February 22nd. 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. Finally, Bank of America downgraded shares of American Assets Trust from a neutral rating to an underperform rating and set a $35.00 price objective for the company. in a research note on Thursday, March 1st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $42.50.
Shares of NYSE AAT traded down $0.47 during mid-day trading on Wednesday, reaching $34.43. 502,565 shares of the company were exchanged, compared to its average volume of 467,378. American Assets Trust has a 52 week low of $30.62 and a 52 week high of $44.83. The company has a debt-to-equity ratio of 1.57, a quick ratio of 3.15 and a current ratio of 3.15. The company has a market capitalization of $1,647.44, a P/E ratio of 17.93, a P/E/G ratio of 3.23 and a beta of 0.41.
American Assets Trust (NYSE:AAT) last posted its quarterly earnings data on Tuesday, February 13th. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The company had revenue of $81.75 million for the quarter. American Assets Trust had a return on equity of 3.76% and a net margin of 10.16%. analysts forecast that American Assets Trust will post 2.05 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Wednesday, March 14th. American Assets Trust’s dividend payout ratio (DPR) is presently 56.25%.
In other news, CEO Ernest S. Rady bought 105,101 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were purchased at an average price of $32.65 per share, for a total transaction of $3,431,547.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ernest S. Rady bought 36,399 shares of the company’s stock in a transaction dated Monday, March 5th. The stock was purchased at an average price of $32.17 per share, for a total transaction of $1,170,955.83. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 864,929 shares of company stock worth $28,061,530. Corporate insiders own 34.15% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Xact Kapitalforvaltning AB bought a new position in American Assets Trust during the fourth quarter valued at approximately $272,000. William Blair Investment Management LLC lifted its position in American Assets Trust by 25.8% during the fourth quarter. William Blair Investment Management LLC now owns 643,088 shares of the real estate investment trust’s stock valued at $24,592,000 after purchasing an additional 131,940 shares during the period. MetLife Investment Advisors LLC bought a new position in American Assets Trust during the fourth quarter valued at approximately $734,000. Millennium Management LLC lifted its position in American Assets Trust by 147.7% during the fourth quarter. Millennium Management LLC now owns 381,837 shares of the real estate investment trust’s stock valued at $14,601,000 after purchasing an additional 227,654 shares during the period. Finally, Meadow Creek Investment Management LLC lifted its position in American Assets Trust by 24.8% during the fourth quarter. Meadow Creek Investment Management LLC now owns 8,738 shares of the real estate investment trust’s stock valued at $334,000 after purchasing an additional 1,734 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.
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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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