American Assets Trust (NYSE:AAT) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of American Assets Trust (NYSE:AAT) from a hold rating to a buy rating in a research report released on Monday, Zacks.com reports. Zacks Investment Research currently has $53.00 price objective on the real estate investment trust’s stock.

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. “

NYSE:AAT opened at $47.51 on Monday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.90 and a current ratio of 2.90. The company has a market cap of $2.85 billion, a PE ratio of 22.73, a PEG ratio of 3.41 and a beta of 0.31. American Assets Trust has a 52-week low of $38.15 and a 52-week high of $49.26. The stock has a 50-day simple moving average of $47.28 and a 200 day simple moving average of $46.85.

American Assets Trust (NYSE:AAT) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.33). The firm had revenue of $98.36 million for the quarter, compared to the consensus estimate of $83.72 million. American Assets Trust had a return on equity of 3.77% and a net margin of 11.29%. On average, research analysts predict that American Assets Trust will post 2.23 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Thursday, December 12th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, December 11th. This is an increase from American Assets Trust’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.53%. American Assets Trust’s dividend payout ratio (DPR) is presently 53.59%.

Hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC bought a new position in American Assets Trust in the second quarter valued at approximately $25,000. Point72 Asset Management L.P. bought a new position in American Assets Trust in the second quarter valued at approximately $47,000. Marshall Wace North America L.P. grew its stake in American Assets Trust by 32.9% in the first 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 purchasing an additional 300 shares in the last quarter. First Mercantile Trust Co. bought a new position in American Assets Trust in the third quarter valued at approximately $64,000. Finally, Hillsdale Investment Management Inc. bought a new position in American Assets Trust in the second quarter valued at approximately $99,000. Hedge funds and other institutional investors own 96.39% of the company’s stock.

American Assets Trust Company Profile

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.

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