Brokerages Expect American Assets Trust, Inc. (NYSE:AAT) to Post $0.49 Earnings Per Share
Wall Street analysts forecast that American Assets Trust, Inc. (NYSE:AAT) will report $0.49 earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have made estimates for American Assets Trust’s earnings. The lowest EPS estimate is $0.48 and the highest is $0.50. American Assets Trust posted earnings of $0.45 per share in the same quarter last year, which would suggest a positive year over year growth rate of 8.9%. The business is scheduled to announce its next quarterly earnings results on Tuesday, July 25th.
According to Zacks, analysts expect that American Assets Trust will report full-year earnings of $1.99 per share for the current financial year, with EPS estimates ranging from $1.91 to $2.02. For the next fiscal year, analysts anticipate that the firm will post earnings of $2.18 per share, with EPS estimates ranging from $2.08 to $2.23. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover American Assets Trust.
AAT has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of American Assets Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, March 21st. Canaccord Genuity upped their target price on shares of American Assets Trust from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, April 12th. Finally, BidaskClub upgraded shares of American Assets Trust from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $48.50.
In related news, CEO Ernest S. Rady bought 46,140 shares of the stock in a transaction on Friday, May 19th. The shares were bought at an average cost of $39.21 per share, for a total transaction of $1,809,149.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ernest S. Rady bought 47,976 shares of the stock in a transaction on Wednesday, May 17th. The shares were bought at an average price of $38.55 per share, for a total transaction of $1,849,474.80. The disclosure for this purchase can be found here. Insiders have acquired 537,169 shares of company stock worth $21,234,402 over the last 90 days. 34.15% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of AAT. Russell Investments Group Ltd. raised its position in shares of American Assets Trust by 30.9% in the first quarter. Russell Investments Group Ltd. now owns 28,491 shares of the real estate investment trust’s stock valued at $1,192,000 after buying an additional 6,728 shares during the last quarter. Quotient Investors LLC bought a new position in shares of American Assets Trust during the first quarter valued at $473,000. Louisiana State Employees Retirement System raised its position in shares of American Assets Trust by 3.1% in the first quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the real estate investment trust’s stock valued at $695,000 after buying an additional 500 shares during the last quarter. Macquarie Group Ltd. bought a new position in shares of American Assets Trust during the fourth quarter valued at $595,000. Finally, Norges Bank bought a new position in shares of American Assets Trust during the fourth quarter valued at $18,091,000. Institutional investors own 98.61% of the company’s stock.
American Assets Trust (AAT) traded down 0.74% during midday trading on Monday, hitting $38.97. The stock had a trading volume of 30,581 shares. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 54.96 and a beta of 0.52. American Assets Trust has a 12 month low of $37.54 and a 12 month high of $46.38. The stock has a 50 day moving average of $39.75 and a 200 day moving average of $42.00.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 29th. Shareholders of record on Thursday, June 15th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $1.04 annualized dividend and a yield of 2.65%. American Assets Trust’s payout ratio is currently 146.48%.
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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