Wall Street Zen Downgrades American Assets Trust (NYSE:AAT) to Hold

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 note issued to investors on Saturday.

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

American Assets Trust Trading Up 0.9%

NYSE AAT traded up $0.18 on Friday, reaching $18.98. 360,867 shares of the company were exchanged, compared to its average volume of 425,254. The business's fifty day moving average price is $20.12 and its 200 day moving average price is $20.49. The stock has a market capitalization of $1.16 billion, a P/E ratio of 16.34 and a beta of 1.17. The company has a current ratio of 3.55, a quick ratio of 4.12 and a debt-to-equity ratio of 1.50. American Assets Trust has a fifty-two week low of $16.69 and a fifty-two week high of $29.15.

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

Institutional Investors Weigh In On American Assets Trust

Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of American Assets Trust in the 4th quarter valued at $63,000. Federated Hermes Inc. increased its holdings in American Assets Trust by 62.7% during the 4th quarter. Federated Hermes Inc. now owns 2,827 shares of the real estate investment trust's stock worth $74,000 after purchasing an additional 1,089 shares during the period. State of Wyoming purchased a new stake in American Assets Trust during the 4th quarter worth about $101,000. CWM LLC increased its holdings in American Assets Trust by 229.6% during the 2nd quarter. CWM LLC now owns 8,382 shares of the real estate investment trust's stock worth $166,000 after purchasing an additional 5,839 shares during the period. Finally, Strs Ohio purchased a new stake in American Assets Trust during the 1st quarter worth about $175,000. Hedge funds and other 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.