Bank of America Corporation lowered shares of American Assets Trust, Inc. (NYSE:AAT) from a buy rating to a neutral rating in a research report report published on Thursday, November 2nd, MarketBeat reports. They currently have $41.00 price objective on the real estate investment trust’s stock.
AAT has been the subject of several other reports. Zacks Investment Research raised shares of American Assets Trust from a hold rating to a buy rating and set a $44.00 price target for the company in a research note on Friday, July 14th. BidaskClub raised shares of American Assets Trust from a strong sell rating to a sell rating in a research note on Saturday, August 26th. Finally, TheStreet downgraded shares of American Assets Trust from a b- rating to a c+ rating in a research report on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $44.00.
American Assets Trust (NYSE AAT) remained flat at $$39.30 during mid-day trading on Thursday. 360,925 shares of the company’s stock were exchanged, compared to its average volume of 246,186. American Assets Trust has a 12-month low of $36.79 and a 12-month high of $44.83. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.76 and a quick ratio of 2.76. The firm has a market cap of $1,860.00, a price-to-earnings ratio of 20.45, a price-to-earnings-growth ratio of 3.45 and a beta of 0.52.
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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Thursday, December 7th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.75%. This is an increase from American Assets Trust’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, December 6th. American Assets Trust’s dividend payout ratio is presently 155.22%.
In other news, CEO Ernest S. Rady acquired 1,010 shares of American Assets Trust stock in a transaction on Monday, September 11th. The stock was acquired at an average cost of $40.79 per share, with a total value of $41,197.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ernest S. Rady acquired 40,167 shares of American Assets Trust stock in a transaction on Tuesday, November 21st. The stock was purchased at an average cost of $39.34 per share, with a total value of $1,580,169.78. The disclosure for this purchase can be found here. Insiders acquired a total of 364,699 shares of company stock valued at $14,525,642 over the last ninety days. 34.15% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the business. Marshall Wace North America L.P. purchased a new position in American Assets Trust in the second quarter valued at about $1,305,000. BlackRock Inc. boosted its stake in American Assets Trust by 9,426.3% in the first quarter. BlackRock Inc. now owns 5,711,691 shares of the real estate investment trust’s stock valued at $238,976,000 after acquiring an additional 5,651,734 shares during the last quarter. Adelante Capital Management LLC boosted its stake in American Assets Trust by 28.9% in the second quarter. Adelante Capital Management LLC now owns 377,455 shares of the real estate investment trust’s stock valued at $14,868,000 after acquiring an additional 84,714 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in American Assets Trust by 55.6% in the first quarter. Goldman Sachs Group Inc. now owns 126,391 shares of the real estate investment trust’s stock valued at $5,288,000 after acquiring an additional 45,151 shares during the last quarter. Finally, Capital Fund Management S.A. purchased a new position in American Assets Trust in the second quarter valued at about $1,201,000. 95.20% of the stock is owned by institutional investors and hedge funds.
About American Assets Trust
American Assets Trust, Inc is a full service, vertically integrated and self-administered real estate investment trust (REIT). The Company owns, operates, acquires and develops retail, office, multifamily and mixed-use properties in Southern California, Northern California, Oregon, Washington, Texas and Hawaii markets.
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