American Assets Trust (NYSE:AAT) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen has downgraded American Assets Trust (NYSE:AAT) from a "buy" rating to a "hold" rating, signaling a shift in market sentiment.
• Morgan Stanley has also reduced its price target for the company from $24.00 to $20.00, maintaining an "equal weight" rating.
• Despite recent downgrades, American Assets Trust's stock reported a 1-year high of $29.15 and a reported earnings per share of $0.52, surpassing analyst expectations.

American Assets Trust (NYSE:AAT - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

Separately, Morgan Stanley cut their price target on American Assets Trust from $24.00 to $20.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th.

American Assets Trust Stock Down 1.8%

Shares of AAT traded down $0.34 during trading hours on Friday, hitting $18.70. The stock had a trading volume of 595,466 shares, compared to its average volume of 382,045. The company has a debt-to-equity ratio of 1.50, a current ratio of 3.55 and a quick ratio of 4.12. The firm has a 50 day simple moving average of $20.12 and a 200-day simple moving average of $20.56. The firm has a market capitalization of $1.14 billion, a P/E ratio of 16.12 and a beta of 1.17. American Assets Trust has a 1-year low of $16.69 and a 1-year high of $29.15.

American Assets Trust (NYSE:AAT - Get Free Report) last issued its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.52 EPS for the quarter, beating the consensus estimate of $0.49 by $0.03. The company had revenue of $107.93 million during the quarter, compared to the consensus estimate of $107.75 million. American Assets Trust had a return on equity of 6.47% and a net margin of 16.26%. Sell-side analysts predict that American Assets Trust will post 1.94 EPS for the current fiscal year.

Hedge Funds Weigh In On American Assets Trust

Hedge funds have recently modified their holdings of the company. Robeco Institutional Asset Management B.V. bought a new position in shares of American Assets Trust during the 1st quarter worth approximately $265,000. Norges Bank bought a new stake in shares of American Assets Trust in the 4th quarter worth approximately $6,010,000. Millennium Management LLC raised its holdings in shares of American Assets Trust by 22.3% in the 4th quarter. Millennium Management LLC now owns 346,167 shares of the real estate investment trust's stock worth $9,090,000 after purchasing an additional 63,023 shares during the period. GAMMA Investing LLC raised its holdings in shares of American Assets Trust by 1,438.0% in the 1st quarter. GAMMA Investing LLC now owns 18,025 shares of the real estate investment trust's stock worth $363,000 after purchasing an additional 16,853 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of American Assets Trust by 112.9% in the 4th quarter. Renaissance Technologies LLC now owns 195,200 shares of the real estate investment trust's stock worth $5,126,000 after purchasing an additional 103,500 shares during the period. Institutional investors own 90.41% of the company's stock.

American Assets Trust Company Profile

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.