Zacks Investment Research Downgrades American Assets Trust (AAT) to Hold

American Assets Trust (NYSE:AAT) was downgraded by Zacks Investment Research from a “buy” 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. “

Other equities analysts have also recently issued research reports about the stock. ValuEngine raised shares of American Assets Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. Mizuho reissued a “buy” rating and issued a $43.00 price target on shares of American Assets Trust in a research report on Wednesday, November 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. American Assets Trust presently has an average rating of “Hold” and a consensus target price of $41.40.

NYSE:AAT opened at $39.55 on Wednesday. The company has a debt-to-equity ratio of 1.57, a current ratio of 2.10 and a quick ratio of 2.10. American Assets Trust has a fifty-two week low of $30.62 and a fifty-two week high of $40.47. The company has a market cap of $1.87 billion, a P/E ratio of 20.60, a P/E/G ratio of 3.56 and a beta of 0.19.

American Assets Trust (NYSE:AAT) last issued its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.28). American Assets Trust had a net margin of 6.09% and a return on equity of 2.43%. The business had revenue of $82.51 million during the quarter, compared to analysts’ expectations of $79.33 million. As a group, equities analysts forecast that American Assets Trust will post 2.1 EPS for the current year.

In other news, CEO Ernest S. Rady acquired 13,002 shares of the firm’s stock in a transaction dated Friday, November 9th. The stock was acquired at an average cost of $39.08 per share, with a total value of $508,118.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ernest S. Rady acquired 33,967 shares of the firm’s stock in a transaction dated Thursday, November 15th. The shares were purchased at an average cost of $38.95 per share, with a total value of $1,323,014.65. The disclosure for this purchase can be found here. Insiders acquired a total of 75,202 shares of company stock valued at $2,944,078 in the last three months. 34.15% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of American Assets Trust by 5.8% during the 2nd quarter. BlackRock Inc. now owns 6,654,405 shares of the real estate investment trust’s stock worth $254,797,000 after purchasing an additional 365,588 shares during the last quarter. AEW Capital Management L P lifted its position in shares of American Assets Trust by 2.3% during the 2nd quarter. AEW Capital Management L P now owns 2,124,559 shares of the real estate investment trust’s stock worth $81,349,000 after purchasing an additional 47,700 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of American Assets Trust by 2.0% during the 3rd quarter. Victory Capital Management Inc. now owns 1,798,381 shares of the real estate investment trust’s stock worth $67,062,000 after purchasing an additional 35,460 shares during the last quarter. American Assets Investment Management LLC lifted its position in shares of American Assets Trust by 76.5% during the 2nd quarter. American Assets Investment Management LLC now owns 1,455,336 shares of the real estate investment trust’s stock worth $55,739,000 after purchasing an additional 630,764 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of American Assets Trust by 8.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 940,822 shares of the real estate investment trust’s stock worth $35,083,000 after purchasing an additional 76,419 shares during the last quarter. 93.69% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

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