American Assets Trust (NYSE:AAT) Downgraded by Zacks Investment Research

American Assets Trust (NYSE:AATGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, 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. “

A number of other research firms have also weighed in on AAT. StockNews.com began coverage on American Assets Trust in a report on Thursday, March 31st. They set a “hold” rating for the company. Mizuho decreased their price objective on American Assets Trust from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Tuesday, February 15th. TheStreet raised American Assets Trust from a “c” rating to a “b-” rating in a research report on Monday, March 21st. Finally, Morgan Stanley cut their target price on American Assets Trust from $37.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Monday, March 21st. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $37.75.

American Assets Trust stock traded up $0.35 during mid-day trading on Wednesday, reaching $33.12. 3,808 shares of the company were exchanged, compared to its average volume of 275,041. The business has a fifty day moving average of $35.59 and a 200 day moving average of $36.30. The company has a debt-to-equity ratio of 1.37, a quick ratio of 2.43 and a current ratio of 2.43. The firm has a market cap of $2.00 billion, a P/E ratio of 51.84, a PEG ratio of 2.03 and a beta of 1.13. American Assets Trust has a 12-month low of $30.97 and a 12-month high of $40.83.

American Assets Trust (NYSE:AATGet Rating) last posted its earnings results on Tuesday, April 26th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). American Assets Trust had a return on equity of 3.10% and a net margin of 9.57%. During the same period in the previous year, the business posted $0.38 EPS. Sell-side analysts predict that American Assets Trust will post 2.16 EPS for the current year.

In other American Assets Trust news, CEO Ernest S. Rady bought 9,614 shares of the company’s stock in a transaction dated Tuesday, May 3rd. The shares were purchased at an average cost of $35.37 per share, for a total transaction of $340,047.18. Following the transaction, the chief executive officer now directly owns 2,009,039 shares of the company’s stock, valued at $71,059,709.43. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Ernest S. Rady bought 10,000 shares of the company’s stock in a transaction dated Wednesday, May 18th. The shares were acquired at an average price of $33.00 per share, for a total transaction of $330,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,096,619 shares in the company, valued at $69,188,427. The disclosure for this purchase can be found here. Insiders have bought a total of 75,123 shares of company stock worth $2,556,544 over the last 90 days. Insiders own 34.38% of the company’s stock.

A number of institutional investors have recently modified their holdings of AAT. Marshall Wace North America L.P. lifted its stake in American Assets Trust by 32.9% in the 1st quarter. Marshall Wace North America L.P. now owns 1,211 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 300 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its stake in American Assets Trust by 102.6% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 37,265 shares of the real estate investment trust’s stock valued at $1,709,000 after buying an additional 18,870 shares in the last quarter. Morgan Stanley lifted its stake in American Assets Trust by 50.2% in the 2nd quarter. Morgan Stanley now owns 319,667 shares of the real estate investment trust’s stock valued at $11,920,000 after buying an additional 106,796 shares in the last quarter. Truist Financial Corp lifted its stake in American Assets Trust by 6.1% in the 3rd quarter. Truist Financial Corp now owns 8,951 shares of the real estate investment trust’s stock valued at $335,000 after buying an additional 515 shares in the last quarter. Finally, Barclays PLC lifted its stake in American Assets Trust by 87.8% in the 3rd quarter. Barclays PLC now owns 93,635 shares of the real estate investment trust’s stock valued at $3,504,000 after buying an additional 43,773 shares in the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

About American Assets Trust (Get Rating)

American Assets Trust, Inc 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 office, retail, 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.

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