American Assets Trust (NYSE:AAT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued 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 equities research analysts have also recently commented on AAT. Royal Bank of Canada set a $44.00 target price on American Assets Trust and gave the stock a “buy” rating in a research note on Saturday, February 17th. Mizuho raised American Assets Trust from a “neutral” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Thursday, February 22nd. Finally, Bank of America cut American Assets Trust from a “neutral” rating to an “underperform” rating and set a $35.00 target price for the company. in a research note on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $43.60.
American Assets Trust (NYSE:AAT) traded up $0.17 during midday trading on Wednesday, reaching $33.04. The company had a trading volume of 541,042 shares, compared to its average volume of 282,335. American Assets Trust has a fifty-two week low of $30.62 and a fifty-two week high of $44.83. The firm has a market capitalization of $1,542.65, a PE ratio of 53.29, a P/E/G ratio of 3.02 and a beta of 0.49. The company has a quick ratio of 3.15, a current ratio of 3.15 and a debt-to-equity ratio of 1.57.
American Assets Trust (NYSE:AAT) last released its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.15 EPS for the quarter, missing the 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 business had revenue of $81.75 million for the quarter. sell-side analysts predict that American Assets Trust will post 2.05 earnings per share for the current year.
In other news, CEO Ernest S. Rady acquired 36,399 shares of American Assets Trust stock in a transaction on Monday, March 5th. The stock was purchased at an average price of $32.17 per share, with a total value of $1,170,955.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ernest S. Rady acquired 105,101 shares of American Assets Trust stock in a transaction on Friday, February 23rd. The stock was purchased at an average cost of $32.65 per share, with a total value of $3,431,547.65. The disclosure for this purchase can be found here. Insiders acquired 605,346 shares of company stock valued at $19,508,270 in the last three months. Insiders own 34.15% of the company’s stock.
A number of institutional investors have recently made changes to their positions in AAT. Victory Capital Management Inc. acquired a new stake in American Assets Trust in the fourth quarter valued at approximately $45,358,000. American Assets Inc. grew its stake in American Assets Trust by 3.9% in 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 acquiring an additional 242,325 shares during the period. Millennium Management LLC grew its stake in American Assets Trust by 147.7% in 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 acquiring an additional 227,654 shares during the period. William Blair Investment Management LLC grew its stake in 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 acquiring an additional 131,940 shares during the period. Finally, Deutsche Bank AG grew its stake in 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 acquiring an additional 118,968 shares during the period. 99.11% of the stock is owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION WARNING: This piece of content was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US & international copyright & trademark legislation. The correct version of this piece of content can be viewed at https://ledgergazette.com/2018/03/14/american-assets-trust-aat-upgraded-by-zacks-investment-research-to-hold.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for American Assets Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Assets Trust and related companies with MarketBeat.com's FREE daily email newsletter.