Wells Fargo & Company MN decreased its holdings in American Assets Trust, Inc (NYSE:AAT) by 7.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 185,895 shares of the real estate investment trust’s stock after selling 15,349 shares during the quarter. Wells Fargo & Company MN owned about 0.39% of American Assets Trust worth $8,760,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in AAT. Federated Investors Inc. PA purchased a new position in shares of American Assets Trust in the first quarter valued at $12,033,000. American Assets Inc. boosted its stake in shares of American Assets Trust by 3.3% during the second quarter. American Assets Inc. now owns 6,283,787 shares of the real estate investment trust’s stock valued at $296,092,000 after acquiring an additional 200,000 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of American Assets Trust by 26.0% during the fourth quarter. Geode Capital Management LLC now owns 539,217 shares of the real estate investment trust’s stock valued at $21,660,000 after acquiring an additional 111,339 shares during the last quarter. State of Wisconsin Investment Board boosted its stake in shares of American Assets Trust by 29.7% during the first quarter. State of Wisconsin Investment Board now owns 317,282 shares of the real estate investment trust’s stock valued at $14,551,000 after acquiring an additional 72,600 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of American Assets Trust by 22.7% during the first quarter. The Manufacturers Life Insurance Company now owns 390,977 shares of the real estate investment trust’s stock valued at $17,930,000 after acquiring an additional 72,235 shares during the last quarter. Institutional investors and hedge funds own 96.06% of the company’s stock.
A number of brokerages have issued reports on AAT. ValuEngine lowered American Assets Trust from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. JMP Securities upgraded American Assets Trust from a “market perform” rating to an “outperform” rating in a report on Thursday, May 30th. Morgan Stanley set a $51.00 price target on American Assets Trust and gave the stock a “buy” rating in a report on Wednesday, June 19th. Finally, Zacks Investment Research upgraded American Assets Trust from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. American Assets Trust currently has a consensus rating of “Buy” and a consensus price target of $50.00.
AAT stock traded up $0.36 during midday trading on Friday, hitting $47.50. 8,644 shares of the company’s stock were exchanged, compared to its average volume of 273,985. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.01. American Assets Trust, Inc has a 12-month low of $35.37 and a 12-month high of $48.30. The firm has a 50 day moving average price of $46.91 and a 200-day moving average price of $46.17. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 3.41 and a beta of 0.37.
American Assets Trust (NYSE:AAT) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.34). American Assets Trust had a net margin of 11.08% and a return on equity of 3.99%. The firm had revenue of $84.11 million during the quarter, compared to analyst estimates of $80.72 million. On average, sell-side analysts forecast that American Assets Trust, Inc will post 2.23 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be given a dividend of $0.28 per share. The ex-dividend date is Wednesday, September 11th. This represents a $1.12 annualized dividend and a yield of 2.36%. American Assets Trust’s dividend payout ratio is currently 53.59%.
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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