KeyBanc Downgrades American Assets Trust (AAT) to Hold After Target Hit
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Price: $24.35 --0%
Rating Summary:
4 Buy, 2 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 2 | Down: 5 | New: 15
Rating Summary:
4 Buy, 2 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 2 | Down: 5 | New: 15
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KeyBanc downgraded American Assets Trust (NYSE: AAT) from Buy to Hold after shares reached their $28 price target.
The firm comments, "AAT shares are up about 38% year-to-date (vs. the RMS up about 18% year-to-date), and we think cap rate compression for assets situated along the West Coast is priced into the stock at current levels, along with recent leasing in the Company’s office and retail portfolio. Management remains focused and disciplined to continue creating value over the long-run (e.g., the build-out of several phases of mixed-use development in Portland, Ore. and through the expansion of existing assets in Southern California) though we suspect shares may pause; since the start of the 3Q, AAT shares have outperformed the RMS by 1,100 basis points."
For an analyst ratings summary and ratings history on American Assets Trust click here. For more ratings news on American Assets Trust click here.
Shares of American Assets Trust closed at $27.50 yesterday.
The firm comments, "AAT shares are up about 38% year-to-date (vs. the RMS up about 18% year-to-date), and we think cap rate compression for assets situated along the West Coast is priced into the stock at current levels, along with recent leasing in the Company’s office and retail portfolio. Management remains focused and disciplined to continue creating value over the long-run (e.g., the build-out of several phases of mixed-use development in Portland, Ore. and through the expansion of existing assets in Southern California) though we suspect shares may pause; since the start of the 3Q, AAT shares have outperformed the RMS by 1,100 basis points."
For an analyst ratings summary and ratings history on American Assets Trust click here. For more ratings news on American Assets Trust click here.
Shares of American Assets Trust closed at $27.50 yesterday.
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