American Assets Trust (NYSE:AAT) Price Target Raised to $24.00

American Assets Trust (NYSE:AAT) had its price objective upped by Morgan Stanley from $23.00 to $24.00 in a report issued on Wednesday, Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

Separately, Mizuho raised their price objective on American Assets Trust from $22.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, August 19th.

American Assets Trust Price Performance

AAT stock opened at $26.64 on Wednesday. The company’s 50-day moving average price is $26.89 and its two-hundred day moving average price is $24.19. The firm has a market cap of $1.62 billion, a P/E ratio of 29.27 and a beta of 1.30. The company has a quick ratio of 3.03, a current ratio of 8.53 and a debt-to-equity ratio of 1.86. American Assets Trust has a 12 month low of $18.00 and a 12 month high of $28.44.

American Assets Trust (NYSE:AAT) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.20 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.33). The firm had revenue of $110.89 million for the quarter, compared to analyst estimates of $107.66 million. American Assets Trust had a net margin of 12.76% and a return on equity of 5.08%. During the same quarter in the prior year, the firm earned $0.59 earnings per share. On average, analysts anticipate that American Assets Trust will post 2.53 earnings per share for the current fiscal year.

American Assets Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.335 per share. The ex-dividend date is Thursday, December 5th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 5.03%. American Assets Trust’s payout ratio is presently 147.25%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AAT. Daiwa Securities Group Inc. raised its position in American Assets Trust by 41.0% in the first quarter. Daiwa Securities Group Inc. now owns 21,818 shares of the real estate investment trust’s stock valued at $478,000 after purchasing an additional 6,347 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in American Assets Trust by 1.6% during the 1st quarter. Texas Permanent School Fund Corp now owns 42,636 shares of the real estate investment trust’s stock worth $934,000 after acquiring an additional 689 shares during the last quarter. LSV Asset Management increased its position in American Assets Trust by 0.3% in the 1st quarter. LSV Asset Management now owns 2,087,730 shares of the real estate investment trust’s stock valued at $45,742,000 after acquiring an additional 6,061 shares during the period. SG Americas Securities LLC raised its stake in shares of American Assets Trust by 1,140.3% during the first quarter. SG Americas Securities LLC now owns 175,550 shares of the real estate investment trust’s stock valued at $3,846,000 after acquiring an additional 161,396 shares during the last quarter. Finally, Illinois Municipal Retirement Fund lifted its holdings in shares of American Assets Trust by 4.4% during the first quarter. Illinois Municipal Retirement Fund now owns 29,091 shares of the real estate investment trust’s stock worth $637,000 after purchasing an additional 1,229 shares during the period. 90.43% of the stock is currently owned by institutional investors.

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.