American Assets Trust (NYSE:AAT) Shares Cross Below 200-Day Moving Average - What's Next?

Key Points

• Shares slipped below their 200-day moving average, briefly reaching $21.13; they last traded at $21.513, near the $21.53 average.
• Analysts’ consensus rating is “Reduce”, with an average price target of $21.50; Morgan Stanley raised its target to $24 but kept an “underweight” rating.
• The REIT beat quarterly earnings and revenue estimates, reporting EPS of $0.13 and revenue of $114.28 million. It declared a quarterly dividend of $0.34, equivalent to a 6.3% yield.

Shares of American Assets Trust, Inc. (NYSE:AAT - Get Free Report) crossed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $21.53 and traded as low as $21.13. American Assets Trust shares last traded at $21.5130, with a volume of 230,813 shares.

Analysts Set New Price Targets

AAT has been the topic of several analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of American Assets Trust in a research note on Tuesday, August 18th. Morgan Stanley lifted their price objective on shares of American Assets Trust from $18.00 to $24.00 and gave the company an "underweight" rating in a research note on Wednesday, July 22nd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $21.50.

American Assets Trust Stock Performance

The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 1.64. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 61.47 and a beta of 0.96. The stock has a fifty day moving average price of $21.60 and a 200 day moving average price of $21.53.

American Assets Trust (NYSE:AAT - Get Free Report) last announced its earnings results on Tuesday, October 27th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.04. American Assets Trust had a return on equity of 1.99% and a net margin of 4.77%. The firm had revenue of $114.28 million during the quarter, compared to analysts' expectations of $111.87 million. As a group, analysts predict that American Assets Trust, Inc. will post 2.05 earnings per share for the current year.

American Assets Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 10th will be given a $0.34 dividend. The ex-dividend date of this dividend is Thursday, December 10th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.3%. American Assets Trust's dividend payout ratio (DPR) is currently 388.57%.

Institutional Trading of American Assets Trust

Several large investors have recently modified their holdings of the company. BlackRock Inc. bought a new position in American Assets Trust in the 2nd quarter worth $226,220,000. American Assets Inc. lifted its position in American Assets Trust by 2.7% during the 3rd quarter. American Assets Inc. now owns 7,571,235 shares of the real estate investment trust's stock worth $160,964,000 after acquiring an additional 196,636 shares during the last quarter. Senvest Management LLC boosted its holdings in American Assets Trust by 22.1% during the first quarter. Senvest Management LLC now owns 3,577,054 shares of the real estate investment trust's stock valued at $65,854,000 after acquiring an additional 647,618 shares during the period. Bank of New York Mellon Corp bought a new stake in American Assets Trust during the second quarter valued at about $11,162,000. Finally, First Trust Advisors LP boosted its holdings in American Assets Trust by 2.7% during the first quarter. First Trust Advisors LP now owns 410,598 shares of the real estate investment trust's stock valued at $7,559,000 after acquiring an additional 10,880 shares during the period. 90.41% of the stock is owned by institutional investors.

American Assets Trust Company Profile

American Assets Trust, Inc. is a real estate investment trust that owns, operates and develops a portfolio of retail, office, multifamily and mixed-use properties. Its properties include shopping centers, office buildings, apartment communities and mixed-use developments. The company's portfolio is concentrated in coastal markets, including Southern and Northern California, Hawaii, Oregon and Washington. American Assets Trust became a publicly traded company in 2011, building on a real estate business with roots dating to 1967.

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