American Assets Investment Management LLC grew its stake in shares of American Assets Trust, Inc (NYSE:AAT) by 76.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,455,336 shares of the real estate investment trust’s stock after purchasing an additional 630,764 shares during the quarter. American Assets Trust makes up about 9.7% of American Assets Investment Management LLC’s holdings, making the stock its largest position. American Assets Investment Management LLC’s holdings in American Assets Trust were worth $55,739,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in AAT. Dynamic Technology Lab Private Ltd acquired a new position in shares of American Assets Trust in the 1st quarter valued at about $212,000. Amalgamated Bank acquired a new position in shares of American Assets Trust in the 2nd quarter valued at about $216,000. SG Americas Securities LLC boosted its holdings in shares of American Assets Trust by 82.3% in the 1st quarter. SG Americas Securities LLC now owns 7,526 shares of the real estate investment trust’s stock valued at $251,000 after buying an additional 3,397 shares during the period. Signition LP acquired a new position in shares of American Assets Trust in the 1st quarter valued at about $253,000. Finally, Xact Kapitalforvaltning AB acquired a new position in shares of American Assets Trust in the 4th quarter valued at about $272,000. 94.14% of the stock is owned by institutional investors.
American Assets Trust stock traded up $0.73 during midday trading on Monday, reaching $37.50. 22,850 shares of the stock traded hands, compared to its average volume of 218,117. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 3.46 and a beta of 0.41. American Assets Trust, Inc has a fifty-two week low of $30.62 and a fifty-two week high of $41.69.
American Assets Trust (NYSE:AAT) last posted its earnings results on Tuesday, May 1st. The real estate investment trust reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.16). The firm had revenue of $80.73 million for the quarter. American Assets Trust had a net margin of 6.60% and a return on equity of 2.52%. research analysts expect that American Assets Trust, Inc will post 2.06 earnings per share for the current year.
In related news, CEO Ernest S. Rady purchased 11,718 shares of the company’s stock in a transaction on Wednesday, June 13th. The shares were bought at an average cost of $37.12 per share, for a total transaction of $434,972.16. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ernest S. Rady purchased 1,718 shares of the company’s stock in a transaction on Monday, June 11th. The shares were bought at an average price of $37.26 per share, for a total transaction of $64,012.68. The disclosure for this purchase can be found here. Insiders have acquired a total of 187,500 shares of company stock valued at $6,577,567 over the last three months. 37.90% of the stock is currently owned by company insiders.
AAT has been the subject of several research reports. Morgan Stanley lifted their price target on shares of American Assets Trust from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, June 14th. Zacks Investment Research raised shares of American Assets Trust from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Wednesday, July 11th. Finally, ValuEngine raised shares of American Assets Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th. Three analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $41.20.
American Assets Trust Profile
American Assets Trust, Inc is a full service, vertically integrated and self-administered real estate investment trust, or REIT, headquartered in San Diego, California. The company has over 50 years of experience in acquiring, improving, developing and managing premier retail, office 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, Oregon, Washington, Texas and Hawaii.
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