American Assets Trust (NYSE:AAT) had its price objective lifted by Morgan Stanley from $37.00 to $40.00 in a research note issued to investors on Thursday. They currently have an overweight rating on the real estate investment trust’s stock.
A number of other brokerages have also commented on AAT. Zacks Investment Research raised American Assets Trust from a strong sell rating to a hold rating in a research report on Monday, February 19th. Bank of America lowered American Assets Trust from a neutral rating to an underperform rating and set a $35.00 target price for the company. in a research report on Thursday, March 1st. Mizuho raised American Assets Trust from a neutral rating to a buy rating and set a $44.00 price objective for the company in a report on Thursday, February 22nd. Royal Bank of Canada set a $44.00 price objective on American Assets Trust and gave the stock a buy rating in a report on Saturday, February 17th. Finally, ValuEngine lowered American Assets Trust from a hold rating to a sell rating in a report on Wednesday, May 2nd. Three 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 stock has a consensus rating of Hold and a consensus price target of $41.60.
Shares of American Assets Trust opened at $37.44 on Thursday, MarketBeat.com reports. American Assets Trust has a one year low of $30.62 and a one year high of $41.69. The stock has a market capitalization of $1.77 billion, a P/E ratio of 19.50, a PEG ratio of 3.53 and a beta of 0.43. The company has a debt-to-equity ratio of 1.55, a current ratio of 2.17 and a quick ratio of 2.17.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 28th. Shareholders of record on Thursday, June 14th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Wednesday, June 13th. American Assets Trust’s dividend payout ratio is currently 56.25%.
In related news, CEO Ernest S. Rady acquired 1,718 shares of the firm’s stock in a transaction on Monday, June 11th. The stock was purchased at an average cost of $37.26 per share, with a total value of $64,012.68. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ernest S. Rady acquired 11,718 shares of the firm’s stock in a transaction on Wednesday, June 13th. The shares were bought at an average cost of $37.12 per share, with a total value of $434,972.16. The disclosure for this purchase can be found here. Insiders have acquired a total of 187,500 shares of company stock valued at $6,577,567 over the last three months. Corporate insiders own 34.15% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Koch Industries Inc. bought a new stake in American Assets Trust during the 4th quarter worth approximately $206,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of American Assets Trust in the 1st quarter worth approximately $212,000. Landscape Capital Management L.L.C. purchased a new position in shares of American Assets Trust in the 4th quarter worth approximately $245,000. Xact Kapitalforvaltning AB purchased a new position in shares of American Assets Trust in the 4th quarter worth approximately $272,000. Finally, SG Americas Securities LLC boosted its stake in shares of American Assets Trust by 82.3% in the 1st quarter. SG Americas Securities LLC now owns 7,526 shares of the real estate investment trust’s stock worth $251,000 after buying an additional 3,397 shares during the last quarter. 94.24% of the stock is owned by hedge funds and other institutional investors.
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.
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