Mizuho Securities Upgrades American Assets Trust (AAT) to Buy

November 7, 2016 7:54 AM EST
Get Alerts AAT Hot Sheet
Price: $43.30 +0.67%

Rating Summary:
    6 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 9
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Mizuho Securities upgraded American Assets Trust (NYSE: AAT) from Neutral to Buy with a price target of $43.00.

Analyst Haendel St. Juste commented, "We are upgrading AAT to Buy from Neutral with a $43 price target based on a 10% discount to our $48 NAV. We have long been ans of the AAT story – a high quality, West Coast / Hawaii owner and operator of retail, office and apartment assets trading at a discount to peers, despite a stronger n/t earnings growth profile and supported by a liquid, flexible b/s. AAT has multiple levers of growth, particularly a sizeable re/ development pipeline (~$250M total with yields ranging from 6 – 8%), which has been a key underpinning of management’s 7% cash NOI CAGR from 2011 through YE2017, which implies high single-digit / low double digit FFO/sh growth"

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 $38.41 yesterday.

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