American Assets Trust (NYSE:AAT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, 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 brokerages have also commented on AAT. ValuEngine lowered American Assets Trust from a “hold” rating to a “sell” rating in a report on Tuesday, August 4th. Wells Fargo & Company lifted their price target on American Assets Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $39.50.
American Assets Trust stock traded down $0.57 during midday trading on Tuesday, hitting $23.91. 9,320 shares of the company were exchanged, compared to its average volume of 379,620. The firm has a market capitalization of $1.47 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 3.73 and a beta of 0.88. American Assets Trust has a fifty-two week low of $20.15 and a fifty-two week high of $49.26. The business has a fifty day simple moving average of $25.60 and a two-hundred day simple moving average of $26.68. The company has a debt-to-equity ratio of 1.11, a quick ratio of 3.45 and a current ratio of 3.45.
American Assets Trust (NYSE:AAT) last issued its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.13 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.24). American Assets Trust had a net margin of 12.08% and a return on equity of 3.53%. The business had revenue of $82.11 million during the quarter. As a group, equities analysts expect that American Assets Trust will post 1.98 earnings per share for the current year.
In related news, CEO Ernest S. Rady acquired 20,000 shares of American Assets Trust stock in a transaction that occurred on Friday, September 11th. The shares were purchased at an average price of $24.69 per share, for a total transaction of $493,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ernest S. Rady acquired 25,412 shares of American Assets Trust stock in a transaction that occurred on Monday, September 14th. The shares were bought at an average price of $25.32 per share, for a total transaction of $643,431.84. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 56,317 shares of company stock worth $1,410,574. 32.76% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in AAT. Vanguard Group Inc. raised its position in American Assets Trust by 0.9% in the second quarter. Vanguard Group Inc. now owns 7,926,096 shares of the real estate investment trust’s stock valued at $220,664,000 after purchasing an additional 72,683 shares during the period. Invesco Ltd. raised its position in American Assets Trust by 36.2% in the first quarter. Invesco Ltd. now owns 2,732,288 shares of the real estate investment trust’s stock valued at $68,307,000 after purchasing an additional 726,740 shares during the period. State Street Corp raised its position in American Assets Trust by 6.9% in the first quarter. State Street Corp now owns 2,591,919 shares of the real estate investment trust’s stock valued at $64,798,000 after purchasing an additional 167,372 shares during the period. Principal Financial Group Inc. raised its position in American Assets Trust by 366.1% in the second quarter. Principal Financial Group Inc. now owns 1,698,504 shares of the real estate investment trust’s stock valued at $47,287,000 after purchasing an additional 1,334,111 shares during the period. Finally, Macquarie Group Ltd. raised its position in American Assets Trust by 7.6% in the second quarter. Macquarie Group Ltd. now owns 1,330,379 shares of the real estate investment trust’s stock valued at $37,038,000 after purchasing an additional 93,670 shares during the period. Hedge funds and other institutional investors own 94.34% 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.