American Assets Trust (AAT) Downgraded to Hold at Zacks Investment Research

American Assets Trust (NYSE:AAT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday, 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. “

Several other equities analysts have also commented on AAT. TheStreet upgraded American Assets Trust from a “c” rating to a “b-” rating in a research note on Wednesday, May 1st. Wells Fargo & Co restated a “buy” rating on shares of American Assets Trust in a research note on Thursday, March 7th. Finally, Mizuho raised their price objective on American Assets Trust to $48.00 and gave the company a “buy” rating in a research report on Monday, March 4th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. American Assets Trust has an average rating of “Buy” and an average target price of $46.00.

AAT stock traded up $0.12 during midday trading on Friday, reaching $45.82. The company’s stock had a trading volume of 2,348 shares, compared to its average volume of 211,675. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 1.62. American Assets Trust has a 1 year low of $35.10 and a 1 year high of $46.86. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 3.38 and a beta of 0.37.

American Assets Trust (NYSE:AAT) last released its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.32). The business had revenue of $85.32 million during the quarter, compared to analysts’ expectations of $82.06 million. American Assets Trust had a return on equity of 3.86% and a net margin of 9.31%. Research analysts expect that American Assets Trust will post 2.23 EPS for the current year.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of American Assets Trust by 2.2% in the fourth quarter. BlackRock Inc. now owns 6,641,382 shares of the real estate investment trust’s stock worth $266,783,000 after purchasing an additional 142,551 shares during the last quarter. American Assets Inc. raised its stake in shares of American Assets Trust by 1.5% in the fourth quarter. American Assets Inc. now owns 6,085,687 shares of the real estate investment trust’s stock worth $244,462,000 after purchasing an additional 88,100 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of American Assets Trust by 0.3% in the fourth quarter. Victory Capital Management Inc. now owns 1,803,281 shares of the real estate investment trust’s stock worth $72,438,000 after purchasing an additional 4,900 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of American Assets Trust by 1.4% in the fourth quarter. Prudential Financial Inc. now owns 1,038,873 shares of the real estate investment trust’s stock worth $41,732,000 after purchasing an additional 13,978 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of American Assets Trust by 8.8% in the third quarter. JPMorgan Chase & Co. now owns 940,822 shares of the real estate investment trust’s stock worth $35,083,000 after purchasing an additional 76,419 shares during the last quarter. Hedge funds and other institutional investors own 93.00% 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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