Zacks Investment Research upgraded shares of American Assets Trust, Inc. (NYSE:AAT) from a hold rating to a buy rating in a report issued on Thursday. Zacks Investment Research currently has $45.00 price target on the real estate investment trust’s stock.

According to Zacks, “American Assets, Inc. is a real estate investment trust, or REIT, that owns, operates, acquires and develops retail and office properties primarily in Southern California, Northern California and Hawaii. The trusts assets include retail properties, office properties, Waikiki Beach Walk property and multifamily properties. American Assets, Inc. is based in San Diego, California. “

Several other equities research analysts have also recently weighed in on AAT. BidaskClub upgraded American Assets Trust from a strong sell rating to a sell rating in a research report on Thursday, June 15th. TheStreet cut American Assets Trust from a b- rating to a c+ rating in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $46.33.

American Assets Trust (NYSE AAT) traded up 0.12% during midday trading on Thursday, hitting $40.67. 60,435 shares of the stock were exchanged. The company’s 50 day moving average is $40.23 and its 200 day moving average is $41.09. American Assets Trust has a 1-year low of $37.54 and a 1-year high of $45.50. The company has a market capitalization of $1.92 billion, a P/E ratio of 61.81 and a beta of 0.52.

American Assets Trust (NYSE:AAT) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.01. American Assets Trust had a net margin of 10.93% and a return on equity of 3.94%. The company had revenue of $77.11 million for the quarter. Analysts predict that American Assets Trust will post $0.63 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 14th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Wednesday, September 13th. American Assets Trust’s dividend payout ratio (DPR) is 157.58%.

In related news, CEO Ernest S. Rady acquired 42,950 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were bought at an average cost of $40.25 per share, for a total transaction of $1,728,737.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ernest S. Rady acquired 3,321 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The stock was bought at an average price of $40.97 per share, for a total transaction of $136,061.37. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 512,938 shares of company stock worth $20,640,089. 34.15% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Perigon Wealth Management LLC bought a new position in American Assets Trust during the first quarter valued at $105,000. Advisor Group Inc. boosted its position in American Assets Trust by 19.7% in the second quarter. Advisor Group Inc. now owns 2,663 shares of the real estate investment trust’s stock valued at $105,000 after buying an additional 439 shares during the period. LS Investment Advisors LLC boosted its position in American Assets Trust by 75.0% in the first quarter. LS Investment Advisors LLC now owns 2,531 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 1,085 shares during the period. Elkfork Partners LLC boosted its position in American Assets Trust by 10.8% in the first quarter. Elkfork Partners LLC now owns 2,884 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 280 shares during the period. Finally, Riverhead Capital Management LLC boosted its position in American Assets Trust by 83.2% in the second quarter. Riverhead Capital Management LLC now owns 3,298 shares of the real estate investment trust’s stock valued at $130,000 after buying an additional 1,498 shares during the period. Institutional investors own 97.83% 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). The Company owns, operates, acquires and develops retail, office, multifamily and mixed-use properties in Southern California, Northern California, Oregon, Washington, Texas and Hawaii markets.

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