Mizuho Lowers American Assets Trust (NYSE:AAT) Price Target to $22.00

American Assets Trust (NYSE:AAT - Free Report) had its target price trimmed by Mizuho from $28.00 to $22.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust's stock.

Separately, Morgan Stanley upped their target price on American Assets Trust from $23.00 to $24.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th.

American Assets Trust Price Performance

AAT stock traded up $0.03 on Tuesday, reaching $22.45. 466,285 shares of the company's stock were exchanged, compared to its average volume of 311,436. The stock has a fifty day moving average of $24.08 and a 200-day moving average of $26.02. American Assets Trust has a twelve month low of $20.03 and a twelve month high of $29.15. The firm has a market cap of $1.37 billion, a PE ratio of 25.22 and a beta of 1.30. The company has a quick ratio of 8.17, a current ratio of 8.17 and a debt-to-equity ratio of 1.80.

American Assets Trust (NYSE:AAT - Get Free Report) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.41. American Assets Trust had a return on equity of 4.98% and a net margin of 12.40%. As a group, equities analysts predict that American Assets Trust will post 1.94 EPS for the current fiscal year.

Remove Ads

American Assets Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be paid a dividend of $0.34 per share. The ex-dividend date is Thursday, March 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.06%. This is a positive change from American Assets Trust's previous quarterly dividend of $0.34. American Assets Trust's dividend payout ratio (DPR) is presently 152.81%.

Insider Activity at American Assets Trust

In related news, COO Adam Wyll sold 30,238 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $28.22, for a total transaction of $853,316.36. Following the sale, the chief operating officer now owns 45,595 shares of the company's stock, valued at $1,286,690.90. This trade represents a 39.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 37.32% of the company's stock.

Institutional Trading of American Assets Trust

A number of large investors have recently made changes to their positions in AAT. Wellington Management Group LLP boosted its stake in shares of American Assets Trust by 693.7% during the fourth quarter. Wellington Management Group LLP now owns 661,763 shares of the real estate investment trust's stock valued at $17,378,000 after acquiring an additional 578,386 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in American Assets Trust by 292.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 411,809 shares of the real estate investment trust's stock worth $11,004,000 after buying an additional 306,946 shares during the period. Norges Bank purchased a new position in American Assets Trust during the fourth quarter worth about $6,010,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in American Assets Trust during the fourth quarter worth about $4,829,000. Finally, Northern Trust Corp lifted its position in American Assets Trust by 16.0% during the fourth quarter. Northern Trust Corp now owns 856,868 shares of the real estate investment trust's stock worth $22,501,000 after buying an additional 118,315 shares during the period. Institutional investors and hedge funds own 90.43% 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 ("REIT"), headquartered in San Diego, California. The company has over 55 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, Washington, Oregon, Texas and Hawaii.