American Assets Trust (NYSE:AAT) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of American Assets Trust (NYSE:AAT) from a hold rating to a buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Several other research analysts have also weighed in on AAT. Morgan Stanley increased their target price on shares of American Assets Trust from $18.00 to $24.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of American Assets Trust in a research report on Tuesday, August 18th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $21.50.

American Assets Trust Trading Up 1.1%

Shares of American Assets Trust stock traded up $0.23 during trading hours on Friday, hitting $21.73. The company’s stock had a trading volume of 240,208 shares, compared to its average volume of 391,955. American Assets Trust has a twelve month low of $17.72 and a twelve month high of $25.97. The firm has a fifty day moving average of $21.55 and a 200-day moving average of $21.59. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 62.09 and a beta of 0.96. The company has a debt-to-equity ratio of 1.64, a quick ratio of 2.56 and a current ratio of 2.56.

American Assets Trust (NYSE:AAT) last released its quarterly earnings results on Tuesday, October 27th. The real estate investment trust reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. The business had revenue of $114.28 million during the quarter, compared to analysts’ expectations of $111.87 million. American Assets Trust had a return on equity of 1.99% and a net margin of 4.77%. Research analysts forecast that American Assets Trust will post 2.05 EPS for the current year.

American Assets Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 10th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Thursday, December 10th. American Assets Trust’s dividend payout ratio is 388.57%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of American Assets Trust in the 2nd quarter valued at $226,220,000. American Assets Inc. lifted its stake in American Assets Trust by 2.7% during the 3rd quarter. American Assets Inc. now owns 7,571,235 shares of the real estate investment trust’s stock worth $160,964,000 after acquiring an additional 196,636 shares in the last quarter. Senvest Management LLC boosted its holdings in American Assets Trust by 22.1% during the 1st quarter. Senvest Management LLC now owns 3,577,054 shares of the real estate investment trust’s stock valued at $65,854,000 after acquiring an additional 647,618 shares during the period. Bank of New York Mellon Corp purchased a new position in American Assets Trust during the 2nd quarter valued at about $11,162,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in American Assets Trust by 9,416.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 313,371 shares of the real estate investment trust’s stock valued at $7,737,000 after acquiring an additional 310,078 shares during the period. 90.41% of the stock is currently owned by hedge funds and other institutional investors.

About American Assets Trust

American Assets Trust, Inc. is a real estate investment trust that owns, operates and develops a portfolio of retail, office, multifamily and mixed-use properties. Its properties include shopping centers, office buildings, apartment communities and mixed-use developments. The company’s portfolio is concentrated in coastal markets, including Southern and Northern California, Hawaii, Oregon and Washington. American Assets Trust became a publicly traded company in 2011, building on a real estate business with roots dating to 1967.