KeyCorp Comments on American Assets Trust, Inc.’s FY2017 Earnings (AAT)

American Assets Trust, Inc. (NYSE:AAT) – Research analysts at KeyCorp issued their FY2017 earnings estimates for shares of American Assets Trust in a report released on Thursday. KeyCorp analyst T. Thomas anticipates that the real estate investment trust will post earnings of $1.99 per share for the year. KeyCorp also issued estimates for American Assets Trust’s Q4 2017 earnings at $0.53 EPS, Q1 2018 earnings at $0.51 EPS and FY2018 earnings at $2.07 EPS.

American Assets Trust (NYSE:AAT) last posted its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.19 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.35). American Assets Trust had a net margin of 10.90% and a return on equity of 3.97%.

Other analysts have also recently issued reports about the company. Mizuho reissued a “hold” rating and issued a $40.00 price target on shares of American Assets Trust in a report on Friday, November 10th. Bank of America cut American Assets Trust from a “buy” rating to a “neutral” rating and set a $41.00 price target for the company. in a report on Thursday, November 2nd. Finally, Zacks Investment Research cut American Assets Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $44.00.

Shares of American Assets Trust (AAT) opened at $36.10 on Monday. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $1,698.48, a P/E ratio of 54.70, a PEG ratio of 3.06 and a beta of 0.52. American Assets Trust has a 1-year low of $35.82 and a 1-year high of $44.83.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 21st. Investors of record on Thursday, December 7th were paid a $0.27 dividend. This is an increase from American Assets Trust’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 2.99%. The ex-dividend date was Wednesday, December 6th. American Assets Trust’s dividend payout ratio (DPR) is presently 163.64%.

In other news, CEO Ernest S. Rady acquired 26,230 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was purchased at an average cost of $38.62 per share, with a total value of $1,013,002.60. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Ernest S. Rady acquired 5,825 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was purchased at an average cost of $39.46 per share, with a total value of $229,854.50. The disclosure for this purchase can be found here. Insiders purchased a total of 267,939 shares of company stock valued at $10,441,454 over the last ninety days. 34.15% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AMP Capital Investors Ltd increased its stake in American Assets Trust by 208.1% in the 3rd quarter. AMP Capital Investors Ltd now owns 53,740 shares of the real estate investment trust’s stock valued at $2,138,000 after purchasing an additional 36,300 shares in the last quarter. Adelante Capital Management LLC increased its stake in American Assets Trust by 28.9% in the 2nd quarter. Adelante Capital Management LLC now owns 377,455 shares of the real estate investment trust’s stock valued at $14,868,000 after purchasing an additional 84,714 shares in the last quarter. Russell Investments Group Ltd. increased its stake in American Assets Trust by 14.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 47,228 shares of the real estate investment trust’s stock valued at $1,878,000 after purchasing an additional 5,865 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in American Assets Trust in the 2nd quarter valued at approximately $353,000. Finally, New York State Common Retirement Fund increased its stake in American Assets Trust by 16.4% in the 2nd quarter. New York State Common Retirement Fund now owns 42,600 shares of the real estate investment trust’s stock valued at $1,678,000 after purchasing an additional 5,999 shares in the last quarter. 98.22% of the stock is owned by hedge funds and other institutional investors.

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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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