StockNews.com Begins Coverage on American Assets Trust (NYSE:AAT)

Posted by Donna Armstrong on Mar 19th, 2023

StockNews.com initiated coverage on shares of American Assets Trust (NYSE:AAT – Get Rating) in a research report released on Thursday morning. The firm issued a hold rating on the real estate investment trust’s stock.

Separately, Mizuho reiterated a neutral rating and set a $30.00 price target on shares of American Assets Trust in a report on Friday, February 10th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $29.00.

American Assets Trust Stock Down 6.6 %

Shares of NYSE:AAT opened at $17.40 on Thursday. The company has a fifty day moving average of $25.63 and a 200-day moving average of $26.52. The company has a market capitalization of $1.06 billion, a PE ratio of 23.84, a price-to-earnings-growth ratio of 6.27 and a beta of 1.13. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.19 and a current ratio of 2.19. American Assets Trust has a 52-week low of $17.33 and a 52-week high of $39.10.

American Assets Trust (NYSE:AAT – Get Rating) last announced its quarterly earnings results on Wednesday, February 8th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.39). The company had revenue of $106.00 million for the quarter, compared to analyst estimates of $107.44 million. American Assets Trust had a return on equity of 3.63% and a net margin of 10.29%. During the same quarter last year, the company posted $0.54 earnings per share. On average, equities analysts predict that American Assets Trust will post 2.13 EPS for the current fiscal year.

American Assets Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Thursday, March 9th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 7.59%. This is an increase from American Assets Trust’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, March 8th. American Assets Trust’s dividend payout ratio is presently 180.82%.

Insider Activity at American Assets Trust

In related news, CEO Ernest S. Rady acquired 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The stock was acquired at an average cost of $21.98 per share, for a total transaction of $879,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 7,077,628 shares of the company’s stock, valued at approximately $155,566,263.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 34.38% of the stock is currently owned by company insiders.

Institutional Trading of American Assets Trust

A number of institutional investors and hedge funds have recently bought and sold shares of AAT. Point72 Hong Kong Ltd acquired a new stake in American Assets Trust in the second quarter valued at $42,000. Lazard Asset Management LLC boosted its position in American Assets Trust by 207.6% during the second quarter. Lazard Asset Management LLC now owns 1,452 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 980 shares during the last quarter. Wipfli Financial Advisors LLC bought a new stake in American Assets Trust during the third quarter valued at $43,000. US Asset Management LLC bought a new stake in American Assets Trust during the fourth quarter valued at $49,000. Finally, Quadrant Capital Group LLC boosted its position in American Assets Trust by 222.4% during the third quarter. Quadrant Capital Group LLC now owns 3,298 shares of the real estate investment trust’s stock valued at $85,000 after acquiring an additional 2,275 shares during the last quarter. 92.33% of the stock is currently owned by institutional investors and hedge funds.

American Assets Trust Company Profile

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American Assets Trust, Inc is a real estate investment trust. It owns, operates, acquires, and develops retail shopping centers, office properties, mixed-use properties, and multifamily properties. It operates through the following business segments: Office, Retail, Multifamily, and Mixed-Use. The Office segment includes rental of office space.