American Assets Trust (NYSE:AAT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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 commented on the company. Bank of America lowered American Assets Trust from a “neutral” rating to an “underperform” rating and set a $35.00 price target for the company. in a research report on Thursday, March 1st. Mizuho upgraded American Assets Trust from a “neutral” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Thursday, February 22nd. Finally, Royal Bank of Canada set a $44.00 price target on American Assets Trust and gave the stock a “buy” rating in a research report on Saturday, February 17th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $43.60.
American Assets Trust (NYSE:AAT) last issued its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.02). American Assets Trust had a return on equity of 3.76% and a net margin of 10.16%. The firm had revenue of $81.75 million during the quarter. research analysts forecast that American Assets Trust will post 2.05 EPS for the current year.
In related news, CEO Ernest S. Rady purchased 132,240 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The stock was bought at an average price of $31.71 per share, for a total transaction of $4,193,330.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ernest S. Rady purchased 67,961 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The stock was bought at an average price of $32.20 per share, with a total value of $2,188,344.20. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 605,346 shares of company stock valued at $19,508,270. 34.15% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in AAT. Victory Capital Management Inc. purchased a new position in shares of American Assets Trust during the fourth quarter valued at approximately $45,358,000. American Assets Inc. boosted its position in shares of American Assets Trust by 3.9% during the fourth quarter. American Assets Inc. now owns 6,467,587 shares of the real estate investment trust’s stock valued at $247,321,000 after buying an additional 242,325 shares during the period. Millennium Management LLC boosted its position in shares of 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 buying an additional 227,654 shares during the period. William Blair Investment Management LLC boosted its holdings in shares of American Assets Trust by 25.8% in 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. Finally, Deutsche Bank AG boosted its holdings in shares of American Assets Trust by 288.0% in the fourth quarter. Deutsche Bank AG now owns 160,283 shares of the real estate investment trust’s stock valued at $6,127,000 after purchasing an additional 118,968 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.
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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 Southern California, Northern California, Oregon, Washington, Texas and Hawaii markets.
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