American Assets Trust Inc. (AAT) Receives Average Recommendation of “Buy” from Brokerages
Shares of American Assets Trust Inc. (NYSE:AAT) have received an average rating of “Buy” from the six analysts that are currently covering the stock. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $50.67.
AAT has been the topic of a number of research reports. Bank of America Corp. reiterated a “buy” rating on shares of American Assets Trust in a research report on Thursday, July 7th. Mizuho downgraded shares of American Assets Trust from a “buy” rating to a “neutral” rating and set a $46.00 target price on the stock. in a research report on Monday, July 18th. Zacks Investment Research downgraded shares of American Assets Trust from a “hold” rating to a “sell” rating in a research report on Monday, July 18th. Royal Bank Of Canada boosted their target price on shares of American Assets Trust from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, August 1st. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $53.00 target price (up previously from $49.00) on shares of American Assets Trust in a research report on Monday, August 1st.
In other American Assets Trust news, CEO Ernest S. Rady purchased 65,000 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was acquired at an average price of $43.06 per share, for a total transaction of $2,798,900.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 34.09% of the company’s stock.
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A number of hedge funds have recently made changes to their positions in AAT. BlackRock Japan Co. Ltd raised its stake in American Assets Trust by 31.9% in the first quarter. BlackRock Japan Co. Ltd now owns 2,644 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 640 shares during the last quarter. CI Investments Inc. raised its stake in American Assets Trust by 27.3% in the second quarter. CI Investments Inc. now owns 2,800 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 600 shares during the last quarter. Amalgamated Bank purchased a new stake in American Assets Trust during the second quarter valued at about $209,000. PineBridge Investments L.P. raised its stake in American Assets Trust by 3.8% in the second quarter. PineBridge Investments L.P. now owns 5,010 shares of the real estate investment trust’s stock valued at $213,000 after buying an additional 183 shares during the last quarter. Finally, BB&T Securities LLC purchased a new stake in American Assets Trust during the first quarter valued at about $227,000. Institutional investors and hedge funds own 98.55% of the company’s stock.
Shares of American Assets Trust (NYSE:AAT) traded up 0.25% during mid-day trading on Monday, reaching $40.86. 61,696 shares of the company’s stock were exchanged. American Assets Trust has a 52-week low of $34.07 and a 52-week high of $46.38. The company’s 50-day moving average price is $42.92 and its 200 day moving average price is $42.09. The company has a market cap of $1.86 billion, a PE ratio of 50.07 and a beta of 0.62.
American Assets Trust (NYSE:AAT) last released its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.01. American Assets Trust had a net margin of 12.97% and a return on equity of 4.50%. On average, equities research analysts predict that American Assets Trust will post $1.86 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, September 13th. This represents a $1.00 dividend on an annualized basis and a yield of 2.45%. American Assets Trust’s dividend payout ratio (DPR) is presently 121.95%.
About American Assets Trust
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 high-barrier-to-entry markets in Southern California, Northern California, Oregon, Washington, Texas and Hawaii.
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