Zacks Investment Research Upgrades American Assets Trust (NYSE:AAT) to “Buy”

American Assets Trust (NYSE:AAT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, Zacks.com reports. The firm currently has a $39.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.13% from the company’s previous close.

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. “

Separately, Morgan Stanley increased their price target on American Assets Trust from $27.40 to $28.50 and gave the company an “equal weight” rating in a research note on Monday, March 1st.

Shares of American Assets Trust stock opened at $34.78 on Monday. The company has a current ratio of 3.30, a quick ratio of 3.30 and a debt-to-equity ratio of 1.12. The business’s 50 day simple moving average is $33.79 and its 200-day simple moving average is $29.69. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 55.21 and a beta of 1.20. American Assets Trust has a twelve month low of $20.73 and a twelve month high of $36.60.

American Assets Trust (NYSE:AAT) last issued its quarterly earnings data on Monday, April 26th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.07). American Assets Trust had a return on equity of 2.94% and a net margin of 10.38%. Sell-side analysts predict that American Assets Trust will post 1.93 earnings per share for the current year.

In related news, CEO Ernest S. Rady acquired 117,998 shares of American Assets Trust stock in a transaction dated Monday, February 22nd. The stock was acquired at an average cost of $29.50 per share, with a total value of $3,480,941.00. Also, CEO Ernest S. Rady bought 5,000 shares of American Assets Trust stock in a transaction dated Wednesday, March 3rd. The stock was acquired at an average price of $33.87 per share, with a total value of $169,350.00. The disclosure for this purchase can be found here. Company insiders own 32.76% of the company’s stock.

Several large investors have recently made changes to their positions in AAT. Marshall Wace North America L.P. raised its holdings in shares of American Assets Trust by 32.9% during the first quarter. Marshall Wace North America L.P. now owns 1,211 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 300 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in shares of American Assets Trust by 102.6% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 37,265 shares of the real estate investment trust’s stock worth $1,709,000 after acquiring an additional 18,870 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of American Assets Trust by 9.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 31,745 shares of the real estate investment trust’s stock worth $917,000 after acquiring an additional 2,840 shares in the last quarter. Victory Capital Management Inc. increased its position in American Assets Trust by 41.3% during the fourth quarter. Victory Capital Management Inc. now owns 40,204 shares of the real estate investment trust’s stock worth $1,161,000 after buying an additional 11,758 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in American Assets Trust by 0.8% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 451,125 shares of the real estate investment trust’s stock worth $13,029,000 after buying an additional 3,392 shares during the last quarter. Institutional investors and hedge funds own 94.06% of the company’s stock.

About American Assets Trust

American Assets Trust, Inc 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 office, retail, 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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