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21000.0 | 2020-10-28 00:00:00 UTC | American Assets Trust Inc (AAT) Q3 2020 Earnings Call Transcript | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-q3-2020-earnings-call-transcript-2020-10-28 | nan | nan | Image source: The Motley Fool.
American Assets Trust Inc (NYSE: AAT)
Q3 2020 Earnings Call
Oct 28, 2020, 11:00 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Ladies and gentlemen, thank you for standing by and welcome to the Third Quarter 2020 American Assets Trust Inc Earnings Conference Call. [Operator Instructions] After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] I would now like to hand the conference over to your speaker today, Adam Wyll, Executive Vice President and Chief Operating Officer.
Please go ahead, sir.
Adam Wyll -- Executive Vice President and Chief Operating Officer
Thank you, good morning everyone. Welcome to American Asset Trust third quarter 2020earnings call Yesterday afternoon our earnings release and supplemental information were furnished to the SEC on Form 8-K. Both are now available on the Investors section of our website americanassetstrust.com. A telephonic replay and on-demand webcast will also be available for this call over the next week.
During this call, we will discuss non-GAAP financial measures, which are reconciled to our GAAP financial results in our earnings release and supplemental information. We will also be making forward-looking statements based on our current expectations. These statements are subject to risks and uncertainties discussed in our SEC filings. You are cautioned not to place undue reliance on these forward-looking statements. Actual events could cause our results to differ materially from these forward-looking statements for a number of reasons, including uncertainty related to the scope, severity and duration of the COVID-19 pandemic, the actions taken to contain the pandemic or mitigate its impact, and the direct and indirect economic impact -- effect of the pandemic and containment measures on us and on our tenants.
And with that, I'll turn the call over to Ernest Rady, our Chairman and CEO, to begin the discussion of our third quarter 2020 results. Ernest?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Thank you Adam. Good job. First and foremost, I would like to wish all of our stakeholders and their loved ones continued health and safety during these truly unprecedented times. We remain optimistic that a vaccine will be forthcoming over the next six to nine months and trust me, I'm going to be one of the first in line. But nevertheless, we are prepared to endure a prolonged pandemic with our solid balance sheet world-class properties and tenants, and incredibly dedicated and competent employees. Fortunately now, the second and third quarters are behind us and I can tell you that our operations and financial results were nowhere near as catastrophic as my worst case projections that we modeled in April 2020.
As most of you know, for many years -- for many years many outsiders believed our asset diversification was perceived negatively relative to any of our best-in-class peers. However, we now know that our ownership of a combination of irreplaceable office, multifamily, retail and mixed-use properties as opposed to a single asset class provided us with much needed stability and protection from the risks associated with the changes in economic conditions of a particular market, industry or even economy, such as those changes created by COVID-19.
We have constantly defended our asset class, diversity to stockholders and naysayers, but not anymore, and thanks in large to our asset diversification I wanted to mention that the Board of Directors has approved a quarterly dividend of $0.25 for the third quarter, which is supported by our rent collections in that third quarter. Would we have declared a larger dividend? Yes, probably and I would have benefited more than anywhere, but as fiduciary store stockholders and its staunch defenders of our balance sheet, we felt it's most prudent to remain conservative on our dividend until there is more visibility into a vaccine and an economic recovery.
In any case, a year or so from now, once there is a vaccine, we expect to look back and hope that this will be nothing but a bad memory. Adam, Bob and Steve will go into more detail on our various asset segments and financial results, and I will be available for any questions you may have at the conclusion of the prepared remarks.
I'm now going to turn this call back over to Adam Wyll.
Adam Wyll -- Executive Vice President and Chief Operating Officer
Thanks Ernest. One of our primary focuses over the past quarter has been collections in our retail segment. We are pleased to have made meaningful progress on that front where we began the pandemic initially collecting approximately 40% of retail rents in April to collecting approximately 80% retail rents in the third, quarter a number that we expect to get better. No doubt this was in large part due to the tireless work of our in-house collection team comprised of our property managers, lease administrators, legal staff and direct engagement by our executives with retailers. And though we remain sensitive and at times accommodating to the financial challenges of certain impact to tenants, we have certainly taken a more aggressive position with better capitalized tenants knowing the high quality of our underlying real estate and the clear rights we have embedded in our leases.
We expect those tenants to adhere to their contractual obligations and we continue to refuse to agree to deals that are not in the best interest of our company and our shareholders. As such, we expect our third quarter collections to improve further as we continue our efforts, and in fact we know more significant checks and wires are currently in transit from tenants on account of third quarter collections. Our most notable collection challenges in the retail segment remain with our movie theaters, gyms and apparel stores as well as many of our retailers at Waikiki Beach Walk which until mid-October, had no incoming tourism to sustain meaningful revenue for our tenants.
It is likely going to take several more months or quarters for us to have better visibility -- recovery by these more challenged tenants. That said, our focus continues to prioritize long-term strategic growth over the short term. So, we've entered into lease modifications that have provided certain tenants relief during the pandemic by way of deferrals or other monetary concessions where necessary, provided we obtain something in return whether by lease extensions, waiver, a certain tenant-friendly lease rights or incremental percentage rent. Otherwise, we intend to pursue all means to enforce our rights under leases, including litigation as necessary, particularly for those unilaterally withholding rents when we believe they have the funds to pay.
Additionally, we are pleased to report that 100% of our properties continue to remain open and accessible by our tenants in each of our markets and anecdotally the majority of our employees are voluntarily working in person at our properties or at our corporate offices each week while taking absolutely all prudent safety precautions, despite having the flexibility to work from home. We continue to firmly believe that post pandemic, being together in person will promote much better productivity, collaboration and innovation and we expect and I've heard similar sentiment from the majority of our office tenants.
Finally, on the election front, we are closely following two propositions on the California ballot that take direct aim at commercial real estate. Of course, we are firmly against Prop 15 which would eliminate Prop 13 Taxpayer Protection. If it passes, we would not expect it to create an immediate, meaningful impact to our company but rather would place a significant pass through financial burden on our tenants at a time when they are already struggling, not to mention the likely negative impact of those property taxes on future rent growth. And also, we are against Prop 21 which we believe is a flawed measure that would implement a significant amendment to existing rent control laws on the multifamily side, limiting landlords' rights and likely making the housing crisis in California even worse.
We are contributing, our resources to impose those propositions. While the challenges we face today are complex, whether relating to the pandemic, racial, [Indecipherable] technology or legislative matters to name a few, we do believe that we are well positioned to navigate through and manage these challenges with, as Ernest mentioned our best-in-class assets, our 200 talented and dedicated employees and the strength of our balance sheet. With that, I will turn the call over to Bob to discuss Q3 results in more detail.
Robert Barton -- Executive Vice President and Chief Financial Officer
Good morning and thank you Ernest and Adam. Last night we reported third quarter 2020 FFO of $0.44 per share and net income attributable to common stockholders of $0.08 per share for the third quarter. Let me begin with my perspective that I am optimistic with the overall performance of this portfolio, even in light of the pandemic we are all going through. We too are feeling the bumps along the road like everyone else in our sectors. What makes me optimistic about our portfolio and its future are the following. Number one, our collections of monthly recurring billings continue to improve in Q3 over Q2 with total collections of approximately 89% in Q3 versus 80% in Q2. Number two, we believe we have ample liquidity to weather the storm that we are going through.
We prepared for the worst-case scenario by modeling a $50 million quarterly burn rate at the beginning of this pandemic, not knowing what we were going into and in Q2, our actual burn rate was approximately $6 million. In Q3, we ended up with a cash surplus of approximately $9 million and this is after the operating capital expenditures and the dividend. We started Q3 with approximately $146 million of cash on the balance sheet and ended Q3 with approximately $155 million of cash on the balance sheet, primarily as a result of increased cash NOI, quarter-over-quarter due to our successful collection efforts outlined earlier by Adam.
Number three, we have additional liquidity of $250 million available on our line of credit, combined with an entire portfolio of unencumbered properties with the exception of our only mortgage which is on City Center Bellevue. Number four, we believe we have embedded growth in cash flow in our office portfolio with approximately $30 million plus of growth in the office cash NOI between now and the end of 2022 as Steve will discuss later. And lastly, once we get a vaccine, we believe our high quality West Coast portfolio will rebound. We believe our Embassy Suites which is currently at approximately a break-even cash NOI will rebound based on its location and tourism. On October 15, Hawaii allowed tourists to come back to the island as they can demonstrate that they have had a negative COVID tests within the last 72 hours.
On the first day, there were approximately 10,000 tourists that landed in Hawaii, we expect that tourism inflow to continue to increase each week and to start benefiting our Hawaiian properties over the coming quarters. Let's take a moment to look at the results of the third quarter for each property segment. Our office property segment continues to perform well, as expected during these uncertain times. Office properties excluding One Beach Street in San Francisco, which is under redevelopment were at 96% occupancy at the end of the third quarter, an increase of approximately 2% from the prior year.
More importantly, same-store cash NOI increased 13% in Q3 over the prior year, primarily from increases in base rent at La Jolla Commons, Torrey Reserve campus, City Center Bellevue and the Lloyd District portfolio. Our retail properties continue to be significantly impacted by the pandemic, although the occupancy at our retail properties remain stable for the third quarter at 95% occupancy which was a decrease of approximately 3% from the prior year our retail collections have been challenging during the pandemic, as reflected in our negative same store cash NOI.
Our multifamily properties experienced a challenging quarter, as same-store cash NOI decreased approximately 5.4% due primarily from the increase in average occupancy -- or I'm sorry, due primarily from the decrease in average occupancy at Hassalo in Portland, offset by favorable master lease signed with a private university in San Diego area at the beginning of the quarter. On a segment basis, occupancy was at 87.5% at the end of the third quarter, a decrease of approximately 3% from the prior year. We expect our occupancy to return to normal, stabilized levels at Hassalo as we have recently adjusted pricing and concessions.
With these adjustments, in the last 10 days we have already seen leasing traffic increase from a weekly average of four to six tour's per week, to 10 to 12 tours per week. We have captured a total of 11 new leases in just the last week. Our mixed use property consisting of the Embassy Suites Hotel and the Waikiki Beach Walk Retail is located on the Island of Oahu. The State of Hawaii remained in a self-quarantine throughout most of the third quarter, significantly impacted the operating results for the third quarter of 2020.
The Embassy Suites' average occupancy for the third quarter of 2020 was 66% compared with the average occupancy in the second quarter of 2020 of 17%. The average daily rate for the third quarter of 2020 was $209, which is approximately 40% of the prior year's ADR. Waikiki Beach Walk Retail suffered considerably with virtually no tourists on the island until recently. We are working daily with our tenants at Waikiki Beach Walk to formalize a recovery plan that benefits both our tenants and the company utilizing all resources necessary, including state and city grant programs and lobbying efforts. Let's talk about bad debt expense reserves in the third quarter; as noted in our earnings release in the third quarter, we collected approximately 89% of what was billed in Q3 to our tenants.
We had COVID-19 adjustments amounting to 2% of what was billed in Q3 to our tenants and the balance of approximately 9% is the amount outstanding of what was billed in Q3. This is compared to the second quarter collections of 81%, COVID-19 adjustments of 5% and Q2 amounts that were billed and still outstanding of 14%. Also as noted in our earnings release in the third quarter, we incurred an additional bad debt expense of accounts receivable of approximately 21% of the outstanding uncollected amounts at the end of Q3, and we incurred an additional bad debt expense of straight-line rent receivables of approximately 11%. This is compared to a bad debt expense accounts receivable of approximately 14% of the outstanding uncollected amounts at the end of Q2 and bad debt expense of straight-line rent receivables of approximately 7% at the end of Q2.
It's easy to get confused on all these percentages. However, from a big picture perspective, at the end of the third quarter, our total allowance for doubtful accounts, which reflects the cumulative bad debt expense charges recorded totals approximately 39% of our gross accounts receivable and approximately 3% of our straight-line rent receivables. Let's talk about liquidity; as we look at our balance sheet and liquidity at the end of the third quarter, we had approximately $405 million in liquidity, comprised of $155 million of cash and cash equivalents and $250 million of availability on our line of credit, and only one of our properties is encumbered by mortgage. Our leverage, which we measure in terms of net debt to EBITDA was 6.7 times on a quarterly, annualized basis.
On a trailing 12 month basis, our EBITDA would be approximately 6.0 times. Our focus is to maintain our net debt-to-EBITDA at 5.5 times or below. Our interest coverage and fixed charge coverage ratio ended the quarter at 3.6 times on a quarterly annualized basis and 3.9 times on a trailing 12 month basis. As it relates to guidance, as previously disclosed, we withdrew our 2020 guidance on April 3 due to the uncertainty that the pandemic would have on our existing guidance, particularly in our hotel and retail sectors.
Until we have a clear view of the economic impact of the pandemic or more certainty as to when a vaccine becomes available, we will refrain from issuing further guidance. I'll now turn the call over to Steve Center, Vice President of Office Properties for a brief update on our office segment. Steve?
Steve Center -- Vice President of Office Properties
Thanks Bob. As Bob said earlier, at the end of the third quarter, net of One Beach, which is under redevelopment our office portfolio stood at over 96% leased with just under 6% expiring through the end of 2021. Given the quality of our assets and the strength of the markets in which they are located with technology and life science as key market drivers, we continue to execute new and renewal leases at favorable rental rates delivering continued NOI growth in our office segment. The weighted average base rent increase for our nine renewals completed during the quarter was 6.7% and it's also as Bob pointed out earlier, with leases already signed, we have locked in approximately $30 million of NOI growth in our office segment priced at approximately [Indecipherable] in 2020, $14 million in $2021 and $10 million in 2022.
We anticipate significant additional NOI growth in 2022 and 2023 through the redevelopment of leasing of 102,000 square feet at One Beach Street in San Francisco and 33,000 rentable square feet at 710 Oregon Square in the Lloyd submarket in Portland. In addition, we have the ability to organically grow our office portfolio by up to an additional 768,000 square feet or 22% on sites we already own by building Tower 3 at La Jolla Commons, a 213,000 square foot tower that's currently into the city for permits and Blocks 90 and 103 at Oregon Square with two configuration options, one at 392,000 square feet and the other at 555,000 square feet, which we recently received the entitlements on from the Portland Design Review Commission.
We continue evaluating market conditions, prospective tenant interest and hopefully decreasing construction costs on these development opportunities. In summary, we have a stable office portfolio, little near term rollover, significant build in NOI growth and additional upside through repositioning and redevelopment within our existing portfolio plus substantial new development on sites we already are on. Operator, I'll now turn the call over to you for questions.
Questions and Answers:
Operator
Thank you. [Operator Instructions] Our first question comes from Richard Hill with Morgan Stanley. You may proceed with your question.
Ronald Kamdem -- Morgan Stanley -- Analyst
Hey good morning. You got Ron Kamdem on for Richard Hill. Couple of quick ones from me. The first is just on the bad debt, I just would like to dig into that one a little bit more. I think I heard correctly that bad debt is at 39% of accounts receivables and 3% of straight-line rent receivables. So, I guess the question number one is, has that been increasing from 2Q to 3Q? It sounds like it has, but I just want to confirm that and maybe a little bit more color on what's driving that and how are you guys thinking about it and maybe are you being too conservative and so forth. Thanks.
Robert Barton -- Executive Vice President and Chief Financial Officer
Good morning Ron. Hey, thanks for the question. Yeah, so what we said in the script was, it is 39% of total accounts receivable the bad debt, and that's on our allowance for doubtful accounts. So, from a dollar standpoint, that's about $7 million we had about another $2.5 million in straight-line rent receivables or a bad debt reserve against straight-line rent. So, the total of the two of those is about $10 million, just slightly under that. When we look at where we were at the end of Q2 that amount was approximately $3.3 million. So on the bad debt reserve -- bad debt expense for accounts receivable that increased from $3.3 million to approximately $7.7 million.
And the reason why is that each quarter that -- until we get this vaccine in, it's difficult on the retail tenants. And so, in each quarter what we do is we go through and we evaluate whether, what is the likelihood that we will receive, what's billed -- we'll take a look at -- if we can receive what's been deferred and we'll make a decision at that point in time as to whether it's probable that whether it's probable that we'll receive 95% of the remaining cash flows.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Thanks Bob. And Ron this is Ernest. As a matter of policy and strategy, we'd much sooner be on the conservative side than the optimistic side. So, Bob has made as accurate assessment as possible, but our strategy has always been -- if we're going to err on the conservative side, and thanks for the question.
Ronald Kamdem -- Morgan Stanley -- Analyst
Got it. That's helpful. My other question, I guess it's sort of tied in to the bad debt was just on the guidance, I think historically you've either -- the team has provided sort of guidance for next year at this time. And obviously, I can appreciate there is a lot of moving pieces, but just what was the thought behind, even giving us some broad strokes for the retail portfolio, the office portfolio. It feels like you have pretty good visibility on the office portfolio with the presentation you've put out. So, just curious why not sort of put a guidance number out there and help sort of the Street get some broad signpost?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Ron, we'd love to give the guidance that you're asking for. There is just so much uncertainty out there from economic point of view, and a health point of view that we thought that we have very little to gain and a lot to lose by saying something that doesn't turn out to be true. So, we just as soon remain silent until we know exactly how this is all going to play out, but I understand your concern and our concern too, I mean we're monitoring where we are and where we're going and we're doing the best we can. But, I don't want to -- I wouldn't want to mislead anybody including ourselves.
Robert Barton -- Executive Vice President and Chief Financial Officer
And Ron from time-to-time in our investor presentations, we'll include some foresight as to what we know at that point in time, but we're not issuing guide as Ernest said.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
And I think on the office side, we've given some indication of where our sentiment is and that's because of the high quality of the assets and the high quality of the tenants. There is some -- we have some assurance to what we say will turn out to be true. In the rest of the portfolio, it's so COVID affected, we're just not certain.
Ronald Kamdem -- Morgan Stanley -- Analyst
Got it. And then my last one, if I may. I think interesting your opening comments about Prop 15 and Prop 21 and I know the Governor of California came out in opposition of Props 21. Just in your mind, obviously, the goal is for none of them to pass, but is one more likely or you're more concerned of than the other? So, if you're thinking out loud is Prop 15 maybe a bigger risk of passing than Prop 21 or you guys just sort of see the same across the board? Thanks.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
I think Prop 15 is a threat to the entire state, not just to us. As Adam pointed out in his presentation that those are going to be short term discomfort for us, but long-term pain for the businesses that are involved and for the -- of residents of California. I saw a survey recently that Prop 15 was going to pass and now they think it's unlikely to pass -- somewhat unlikely to pass. So, God only knows what's going to happen, but I hope for the sake of California -- Californians and us as long-term residents that it fails to pass.
Robert Barton -- Executive Vice President and Chief Financial Officer
Yeah. Prop 15 our assessment is that, it's not going to have a huge impact to us initially, but rather to the customers as a pass-through, and then in turn potentially on rent growth in California looking forward. So, we're definitely opposing Prop 15.
Ronald Kamdem -- Morgan Stanley -- Analyst
Great, thanks for the time. I appreciate all the color.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Hey Ron, make sure and say it'll be Rich for us, eh.
Ronald Kamdem -- Morgan Stanley -- Analyst
Sure thing.
Robert Barton -- Executive Vice President and Chief Financial Officer
Thank you.
Operator
Thank you. Our next question comes from Craig Schimdt with Bank of America. You may proceed with your question.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Good morning Craig.
Craig Schimdt -- Bank of America -- Analyst
Good morning. Thank you. In terms of the reserve for bad debt, primarily being at the foot of a couple of properties. I think I understand Waikiki and Del Monte and I'm guessing Alamo Quarry, if some are to Regal Centers, but why was Carmel Mountain Plaza pushing that bad debt number?
Robert Barton -- Executive Vice President and Chief Financial Officer
Well, I think a lot of it that you're seeing at Del Monte, Alamo Quarry and Carmel Mountain Plaza, that's where the three theaters are located, so we've gone through and we've put a reserve on those particular ones, and then we've just had a lot of in the apparel industry. Adam, maybe you want to talk to some of the -- not the negotiations specifically, but in general.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Some of the collection efforts that Houston is spearheading.
Adam Wyll -- Executive Vice President and Chief Operating Officer
Yeah. Sure, just based on our challenges with a lot of these retailers, not just the mom and pop, but some of the national guys, I mean I think we're -- like Ernest and Bob have said, taking a more conservative view of our probability of collections on those guys. So, we're still all over these guys, and working with them as much as possible, but you want to be more conservative in our presentation and hope to surprise the upside on these guys?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Would it be safe to say Adam that everybody is trying everybody on for size to see if there is an opportunity and we are just going to have to speak up on our own behalf, and so far we're being successful.
Adam Wyll -- Executive Vice President and Chief Operating Officer
Yes. That's right. I mean all these guys are operating, as if, if you don't ask, you don't get it, so virtually everyone is asking for some form of relief from us maybe we've given relief to 20% to 30% of these guys so far, only when needed. But, we're just trying to be smart about it and take our time and not rush into it, but like we also said, those that are unilaterally withholding rents that have the money, those are the ones we're going after. We're not necessarily having to take reserves against those guys, it's the folks that are more challenged financially.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
I think our stakeholders can be assured that we're doing everything we can on behalf of our stockholders to collect every rent -- dollar of rent that we're entitled and if we don't collect it, as Adam said in his presentation, we're going to try and get something for what we have to give up and it's a negotiation with a committee that looks at every opportunity to come up with a [Indecipherable] that is the best for the company.
Craig Schimdt -- Bank of America -- Analyst
Okay, thank you for that. And then, I see a somewhat lower rent collection in October versus September for retail. I think, it goes from 82.6% to 77.3%, is that just a matter of timing?
Robert Barton -- Executive Vice President and Chief Financial Officer
It's probably just a matter of timing because that's only as of -- I think it's like October 16 -- October -- at a certain point during October. So, a lot of it comes in at the end of the month because it's negotiating and some are slow-paying, but we're getting it.
Adam Wyll -- Executive Vice President and Chief Operating Officer
Yeah, even those with recurring payments that are making them are starting to pay later in the cycle. So, we do expect that number to increase -- those are our expectation now anyway.
Craig Schimdt -- Bank of America -- Analyst
Great. And then just finally, it looks like you had 71,000 square feet of renewals. Could you categorize those if you'd rank it, what type of tenants they were?
Steve Center -- Vice President of Office Properties
On the renewals that would be in the back of the supplemental. I don't have the details on that in front of me Craig. [Multiple Speakers]
Craig Schimdt -- Bank of America -- Analyst
No, I was talking, sorry -- talking retail. But, OK, let me relook at the supplemental. [Multiple Speakers]
Steve Center -- Vice President of Office Properties
Yes. It's 71,000, I don't have the sheet in front of me.
Adam Wyll -- Executive Vice President and Chief Operating Officer
Yeah, it's just a mix of different tenants that have come through the system.
Steve Center -- Vice President of Office Properties
Yeah, I don't have a break-out on it, it's just going be a mix of tenants that have come through.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
That's a good question though Craig. Thanks for asking.
Craig Schimdt -- Bank of America -- Analyst
Okay, thanks for that.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Thank you sir.
Adam Wyll -- Executive Vice President and Chief Operating Officer
Thank you Craig.
Operator
Thank you. [Operator Instructions] Our next question comes from Todd Thomas with KeyBanc. You may proceed with your question.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Morning Todd.
Todd Thomas -- KeyBanc -- Analyst
Hi thanks, good morning. Just a couple of questions on the office segment. Curious for an update, I think last quarter there were no changes to the build-out and floor plans for Google at Landmark. Just curious if you can provide an update there, if anything has changed and then whether there are any other tenants in the portfolio that might be looking to either reconfigure or maybe shed some space?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Jerry has told me that Google is continuing as per their original plans, and Steve are you aware of anything that we should Todd -- known to Todd?
Steve Center -- Vice President of Office Properties
I will add to Google that Autodesk is reconfiguring and investing more in their space. So, we're fortunate in that regard. Our bigger tenants are moving forward with plans past this pandemic smoothly.
Todd Thomas -- KeyBanc -- Analyst
Okay. Is there any sublease space in the office segment of the portfolio at all today?
Steve Center -- Vice President of Office Properties
So, it's market by market. So, I'll say starting in San Diego sublease is really muted. Del Mar Heights is 0.6% vacancy for sublease space, UTC is 0.7% those are our two main markets. San Francisco, there is a lot of sublease space right now. There's been a big uptick there fortunately, Autodesk and Google occupy the entire Landmark building and One Beach is under redevelopment, we won't deliver that until 2022. So, hopefully we're through the worst of this at that time. Portland again, sublease space is muted -- the total sublease vacancy in Portland right now is 1.5%. Bellevue has significant sublease space, but it's really kind of not an indicator there and that just -- it's currently on the East side market, in Bellevue -- part of the East side market, it's a 37 million square foot market, there is 4.3 million square feet of office space under construction on the East side and it's 96% pre-leased, so that's a big block market. Amazon, Google Facebook obviously Microsoft and T-Mobile has affirmed its commitment to that marketplace on the East side.
So, it's just very, very strong. We've got one floor available for sublease that Cisco has up and we just got an RFP yesterday for 52,000 feet with an engineering firm, it's being displaced from a building that's being torn down to build a new building for Amazon. So, Bellevue is just extremely robust, strong and the sublease space is really isn't a big factor there, so hopefully that answers your question.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Fortunately, being in Bellevue, is being in the right place at the right time, and I don't know that we're that smart but we're certainly that lucky. So, we're glad to be there. Thanks for the question Todd.
Todd Thomas -- KeyBanc -- Analyst
Great. Yeah. That's helpful. Do you have a sense for what employee occupancy looks like in your assets across the office portfolio?
Steve Center -- Vice President of Office Properties
It's low. It's probably sub 20% in most.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
It's about 20% to 25%. But as I look at that circumstance, the associates want to come back to work and we want them to come back to work. This working from home is not the fun that everybody says. There will be some work from home going forward, but from an operational point of view and a mental health point of view and a company point of view and an individual point of view back to the office is the way to go with my view, and it will transpire to that -- or transform to that at some point over the future depending on what happens to COVID-19.
Steve Center -- Vice President of Office Properties
To add to that, I've had conversations with tenant rep brokers that represent some of the biggest companies out there, and they said behind the scene CEOs are saying, get the heck back to work.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
That's what I see.
Steve Center -- Vice President of Office Properties
And we feel the same way. So, it's not a matter of -- it's a matter of when and Google again is a good example that they did not modify their plans with COVID in terms of configuration, so we will get there.
Todd Thomas -- KeyBanc -- Analyst
Okay and then in terms of the Embassy Suites Bob, I was wondering if you had any visibility there on occupancy and ADR heading into the fourth quarter and maybe also an update on bookings, as we think about 2021?
Robert Barton -- Executive Vice President and Chief Financial Officer
Yeah, we ended at 66% occupancy on a weighted average basis for the quarter. We've seen -- during the third quarter, we've seen it tick up to like 75% and we've been trending in the last probably months somewhere between 52% to 65%. As we go into the fourth quarter, we'll probably keep it in that range, somewhere between 50% to 65% and right now, we do have bookings and we're looking forward, but they have the ability to counsel them depending on the -- if the quarantine -- openness of the quarantine in Hawaii remains open, then we'll see a difference.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Bob, is it safe to say that the ADR is affected by the nature of our tenants now who are mostly government employees and not tourists and that tourists will, once this thing returns to normal our ADR will return to normal?
Robert Barton -- Executive Vice President and Chief Financial Officer
Yeah. I think that's been very helpful. We can always lean on the DoD -- the DoD has been about 80% of our occupancy and then the local Hawaiians have been the other 20% and as a result, both of those are at a much lower ADR. The ADR is probably somewhere between 205 and 225 compared to, I think, we hit 360 last year if not higher, on an average basis. Obviously some rooms went much higher, and some were a little bit lower. But we're -- as I understand it, we are one of two hotels that are open on Waikiki and we expect more to open as the tourism comes back, but having that open and being able to have a break-even has like been a win for us during this pandemic whereas I think the other eight hotels in Waikiki has been completely closed.
Todd Thomas -- KeyBanc -- Analyst
Great.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Not that I can guarantee you, but I think once people can travel they're coming back to Hawaii. They're coming back to Waikiki. That's a great piece of property and we've used this time to upgrade the property by painting, fixing the spalling, the salt air damage, upgrading the room furniture. So, we're ready to go and this economy -- people will be anxious to travel once this damn thing is over.
Todd Thomas -- KeyBanc -- Analyst
All right, sounds good.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Thank you.
Robert Barton -- Executive Vice President and Chief Financial Officer
Thanks Todd.
Operator
Thank you. And I'm not showing any further questions at this time, I would now like to turn the call back over to Ernest Rady for any further remarks.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
I want to thank you all for your patience during this difficult time. I can assure you that everybody at American Assets Trust is working hard to ensure that when things return to normal the results that we present will be more than adequate, and during this time we're doing the best we can. And it's not easy for anybody, it's not easy for us, but we're going to get there and at some point, we'll look back on this as a terrible memory. Thank you all for attending.
Operator
[Operator Closing Remarks]
Duration: 40 minutes
Call participants:
Adam Wyll -- Executive Vice President and Chief Operating Officer
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Robert Barton -- Executive Vice President and Chief Financial Officer
Steve Center -- Vice President of Office Properties
Ronald Kamdem -- Morgan Stanley -- Analyst
Craig Schimdt -- Bank of America -- Analyst
Todd Thomas -- KeyBanc -- Analyst
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | American Assets Trust Inc (NYSE: AAT) Q3 2020 Earnings Call Oct 28, 2020, 11:00 a.m. Operator [Operator Closing Remarks] Duration: 40 minutes Call participants: Adam Wyll -- Executive Vice President and Chief Operating Officer Ernest S. Rady -- Chairman, President and Chief Executive Officer Robert Barton -- Executive Vice President and Chief Financial Officer Steve Center -- Vice President of Office Properties Ronald Kamdem -- Morgan Stanley -- Analyst Craig Schimdt -- Bank of America -- Analyst Todd Thomas -- KeyBanc -- Analyst More AAT analysis All earnings call transcripts 10 stocks we like better than American Assets Trust When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. No doubt this was in large part due to the tireless work of our in-house collection team comprised of our property managers, lease administrators, legal staff and direct engagement by our executives with retailers. | Operator [Operator Closing Remarks] Duration: 40 minutes Call participants: Adam Wyll -- Executive Vice President and Chief Operating Officer Ernest S. Rady -- Chairman, President and Chief Executive Officer Robert Barton -- Executive Vice President and Chief Financial Officer Steve Center -- Vice President of Office Properties Ronald Kamdem -- Morgan Stanley -- Analyst Craig Schimdt -- Bank of America -- Analyst Todd Thomas -- KeyBanc -- Analyst More AAT analysis All earnings call transcripts 10 stocks we like better than American Assets Trust When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. American Assets Trust Inc (NYSE: AAT) Q3 2020 Earnings Call Oct 28, 2020, 11:00 a.m. Our multifamily properties experienced a challenging quarter, as same-store cash NOI decreased approximately 5.4% due primarily from the increase in average occupancy -- or I'm sorry, due primarily from the decrease in average occupancy at Hassalo in Portland, offset by favorable master lease signed with a private university in San Diego area at the beginning of the quarter. | Operator [Operator Closing Remarks] Duration: 40 minutes Call participants: Adam Wyll -- Executive Vice President and Chief Operating Officer Ernest S. Rady -- Chairman, President and Chief Executive Officer Robert Barton -- Executive Vice President and Chief Financial Officer Steve Center -- Vice President of Office Properties Ronald Kamdem -- Morgan Stanley -- Analyst Craig Schimdt -- Bank of America -- Analyst Todd Thomas -- KeyBanc -- Analyst More AAT analysis All earnings call transcripts 10 stocks we like better than American Assets Trust When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. American Assets Trust Inc (NYSE: AAT) Q3 2020 Earnings Call Oct 28, 2020, 11:00 a.m. Ernest S. Rady -- Chairman, President and Chief Executive Officer And I think on the office side, we've given some indication of where our sentiment is and that's because of the high quality of the assets and the high quality of the tenants. | Operator [Operator Closing Remarks] Duration: 40 minutes Call participants: Adam Wyll -- Executive Vice President and Chief Operating Officer Ernest S. Rady -- Chairman, President and Chief Executive Officer Robert Barton -- Executive Vice President and Chief Financial Officer Steve Center -- Vice President of Office Properties Ronald Kamdem -- Morgan Stanley -- Analyst Craig Schimdt -- Bank of America -- Analyst Todd Thomas -- KeyBanc -- Analyst More AAT analysis All earnings call transcripts 10 stocks we like better than American Assets Trust When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. American Assets Trust Inc (NYSE: AAT) Q3 2020 Earnings Call Oct 28, 2020, 11:00 a.m. Our retail properties continue to be significantly impacted by the pandemic, although the occupancy at our retail properties remain stable for the third quarter at 95% occupancy which was a decrease of approximately 3% from the prior year our retail collections have been challenging during the pandemic, as reflected in our negative same store cash NOI. |
21001.0 | 2020-09-08 00:00:00 UTC | American Assets Trust, Inc. (AAT) Ex-Dividend Date Scheduled for September 09, 2020 | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc.-aat-ex-dividend-date-scheduled-for-september-09-2020-2020-09-08 | nan | nan | American Assets Trust, Inc. (AAT) will begin trading ex-dividend on September 09, 2020. A cash dividend payment of $0.25 per share is scheduled to be paid on September 24, 2020. Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. This represents an 25% increase over prior dividend payment. At the current stock price of $26.15, the dividend yield is 3.82%.
The previous trading day's last sale of AAT was $26.15, representing a -46.91% decrease from the 52 week high of $49.26 and a 29.78% increase over the 52 week low of $20.15.
AAT is a part of the Consumer Services sector, which includes companies such as American Tower Corporation (REIT) (AMT) and Prologis, Inc. (PLD). AAT's current earnings per share, an indicator of a company's profitability, is $.77. Zacks Investment Research reports AAT's forecasted earnings growth in 2020 as -10.15%, compared to an industry average of -17.2%.
For more information on the declaration, record and payment dates, visit the AAT Dividend History page. Our Dividend Calendar has the full list of stocks that have an ex-dividend today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AAT is a part of the Consumer Services sector, which includes companies such as American Tower Corporation (REIT) (AMT) and Prologis, Inc. (PLD). Zacks Investment Research reports AAT's forecasted earnings growth in 2020 as -10.15%, compared to an industry average of -17.2%. For more information on the declaration, record and payment dates, visit the AAT Dividend History page. | Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. AAT's current earnings per share, an indicator of a company's profitability, is $.77. American Assets Trust, Inc. (AAT) will begin trading ex-dividend on September 09, 2020. | Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. The previous trading day's last sale of AAT was $26.15, representing a -46.91% decrease from the 52 week high of $49.26 and a 29.78% increase over the 52 week low of $20.15. For more information on the declaration, record and payment dates, visit the AAT Dividend History page. | Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. American Assets Trust, Inc. (AAT) will begin trading ex-dividend on September 09, 2020. The previous trading day's last sale of AAT was $26.15, representing a -46.91% decrease from the 52 week high of $49.26 and a 29.78% increase over the 52 week low of $20.15. |
21002.0 | 2020-07-29 00:00:00 UTC | American Assets Trust Inc (AAT) Q2 2020 Earnings Call Transcript | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-q2-2020-earnings-call-transcript-2020-07-29 | nan | nan | Image source: The Motley Fool.
American Assets Trust Inc (NYSE: AAT)
Q2 2020 Earnings Call
Jul 29, 2020, 11:00 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Ladies and gentlemen, thank you for standing by, and welcome to the Q2 2020 American Assets Trust, Inc. Earnings Call. [Operator Instructions] After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]
I would now like to hand the conference call to your speaker today, Mr. Adam Wyll. You may begin, sir.
Adam Wyll -- Executive Vice President and Chief Operating Officer
Thank you. Good morning, everyone. Welcome to American Asset Trust, Inc. second quarter 2020earnings call Yesterday afternoon, our earnings release and supplemental information were furnished to the SEC on Form 8-K. Both are now available on the Investor Section of our website, americanassetstrust.com. A telephonic replay and on-demand webcast will also be available for this call over the next week.
During this call, we will discuss non-GAAP financial measures which are reconciled to our GAAP financial results in our earnings release and supplemental information. We will also be making forward-looking statements based on our current expectations. These statements are subject to risks, uncertainties discussed in our SEC filings. You are cautioned not to place undue reliance on these forward-looking statements. Actual events could cause our results to differ materially from these forward-looking statements, which we undertake no duty to update.
And with that, I'll turn the call over to Ernest Rady, our Chairman and CEO to begin the discussion of our second quarter 2020 results. Ernest?
Ernest Rady -- Chairman, President and Chief Executive Officer
Thank you, Adam. That was well done as always. These have been unprecedented times that I've never seen before in my lifetime. When COVID-19 began, I honestly didn't know how that it would be. We expect it to be catastrophic, but we just didn't know how bad it would be, now that the second quarter is behind us. I can tell you that it is not as catastrophic as our worst case projections. It's still has been no fun.
Office has performed extremely well, unless in the shining light in our portfolio, with high credit tenants in strong markets and that we would like to continue. Multifamily has also performed well better than we expected. Occupancy has been slightly lower, but collections have been strong in the mid '90s and we expect a meaningful uptick in occupancy in August 1, as a local private university takes possession of approximately 130 units and our San Diego multi-family portfolio, at good rents by a master lease that has recently been executed.
Retail as expected has been very tough. Every deal, feels like a street fight in retail. We try to balance what is best for the company and its shareholders with how to maintain the long-term [Technical Issues] of these retail tenants that are so important to our shopping centers. We know that some are not going to make it. Of course, we are hopeful that most will make it. In that factor, we're hopeful that all will make it. We have a committee comprised of myself, Chris Sullivan and Adam Wyll that review every tenant requests. If a tenant ask for deferral, we ask for something from a tenant and return as well. Each one is a negotiation and we try to make sure that we're getting something fair in return for anything less 100% on time collection of our contractual rents.
I truly believe that our management team is second to none and has done an excellent job strategically navigating through this pandemic. American Trust is reflective of the quality people that we have working as appreciative of the quality people that we have working in our company that are focused on creating value for our shareholders each and every day.
Lastly, I want to mention that our Board of Directors has approved increasing the quarterly dividend 25% over the second quarter 2020 dividend of $0.20 to $0.25 for the third quarter based on higher rent collections in the second quarter than we had expected, combined with the significant embedded growth that we continue to expect in our office portfolio and the recent master lease signed in our multifamily portfolio. A year from now, once there is a vaccine, we expect to look back and we hope this is nothing more than a bad memory. I believe that we came -- we come out of this, we will be as good a company or even better when all this started.
I'm now going to turn the call back over to Adam Wyll, our EVP and Chief Operating Officer, who will give us a quick update on our operations during this pandemic, followed by Bob Barton, our EVP and Chief Financial Officer and we will end with a quick update on the leasing success that Steve Center, our Vice President of Office Properties is seeing. Adam, please.
Adam Wyll -- Executive Vice President and Chief Operating Officer
Thanks, Ernest. From an operations perspective as coronavirus infection continue to increase in many of our markets. We remain hyper-focused on the safety and well-being of our personnel tenants and vendors, as 100% of our properties remain open and accessible by our tenants. We remain committed to ensuring full compliance with the ever-changing regulatory mandates from all levels of government, not to mention, staying in front of and working against proposed regulations that we think would do damage to our industry and economy. Like SB 939 in California, which did not pass. In the proposed repeal of Prop 13 for commercial properties in California, which we believe is essentially a targeted tax increase on business, which would ultimately be passed on to tenants and customers most of whom can absorb such increases and could lead to even more business failure.
As Ernest mentioned, we continue to work with our tenants on rent deferments and other lease modifications to assist those tenants as best we can, whose business have been significantly impacted by COVID-19. We've also renegotiated or bid out most of our vendor contracts to meaningfully reduce operating expenses, many of such reductions on a long-term basis, all the while maintaining our best-in-class properties. And we've leverage the high unemployment rates in our markets to hire top caliber associates to fill open positions at AAT.
Finally, we appreciate more than ever, the positive impact that ESG including fostering a culture of diversity and inclusion has on the strengthening of our business, our economy and our society. Particularly in light of current events, our focus on human capital and physical and mental well being both within our company and in our communities, has never been stronger and represents the foundation that our culture was built on. For more insight on our ESG efforts please take a look at our recently published 2019 sustainability report, which can be found on the sustainability page of our website.
With that, I'll turn the call over to Bob to discuss Q2 results and the impact from COVID-19. Bob?
Robert Barton -- Executive Vice President and Chief Financial Officer
Good morning, and thank you, Ernest and Adam. Last night, we reported second quarter 2020 FFO of $0.48 per share and net income attributable to common shareholders of $0.13 per share for the second quarter. Let's look at the results of the second quarter for each property segment. Our office property segment continues to perform well during these uncertain times. Office properties excluding our One Beach Street property located on the North Waterfront in San Francisco which is under redevelopment. We're at 96% occupancy at the end of the second quarter, an increase of approximately 3% from the prior year.
More importantly, same-store cash NOI increased 16% in Q2 over the prior year, primarily from City Center Bellevue in Washington, Lloyd District Campus, Office Campus in Oregon and Torrey Reserve Campus here in San Diego. Our retail properties have not fared as well during the pandemic. Retail properties were at 95% occupancy at the end of the second quarter, a decrease of approximately 2% from the prior year. However, retail collections have been difficult during the pandemic, as reflected in our negative same-store cash NOI. Additionally, due to COVID-19, we have taken reserve for bad debts against the outstanding retail accounts receivable and straight-line rents receivable at the end of the second quarter of approximately 14% and 7% respectively.
From a dollar perspective, this translates into approximately $2 million and $1.4 million respectively, for a total of $3.4 million reserve related to our retail sector, which is approximately $0.045 of FFO. We intend to continue evaluating and potentially revising these reserves each quarter as we monitor the ever-changing viability and solvency of each of our retail tenants. Our multifamily properties we're at an 85% occupancy at the end of the second quarter, a decrease of approximately 8% from the prior year as also reflected in our negative same-store cash NOI. But as Ernest mentioned, we expect this to increase back into the low to mid 90% occupancy once our master lease with a local private university commences on August 1.
Our mixed use property consisting of the Embassy Suites Hotel and the Waikiki Beach Walk Retail is located on the Island of Oahu. The State of Hawaii remains in self quarantine through the end of August, which is significantly impacted the operating results in the second quarter of 2020. The Embassy Suites average occupancy for the second quarter of 2020 was 17%, compared with the prior year's second quarter average occupancy of 92%. A good rule of thumb in our view is that a hotel without any leverage on it needs to have approximately a 50% to 60% occupancy to breakeven.
Our team in Hawaii forecasted earlier this month of 46% to 50% occupancy by year-end 2020. To our pleasant surprise, we ended June with a 29% occupancy, much higher than the average occupancy of 17% for the quarter. Additionally, in the last 15 days, we have been seeing occupancy ranging from 45% to 55% with our team in Hawaii expecting to end the month of July at 62% occupancy. Right now, it is our understanding there are only two hotels remained open in Waikiki. One of which is our Embassy Suites hotel, which has been completely renovated and it's like a brand new hotel.
Let's talk about billings and collections. On a companywide basis, we collected approximately 83% of the total second quarter billings, which primarily consists of base rent and cost reimbursements. We have also collected approximately 83% of July's billings as of the end of last week. We expect those percentages to increase as we continue to work hard on collection efforts. In Q2, our office rent collections were approximately 98%. Our retail rent collections excluding Waikiki Beach retail were approximately 62%. And by the way -- so far in July is about 70%, and our multifamily collections were approximately 95%. Waikiki Beach Walk Retail had an approximately 30% collection rate in Q2.
As Ernest noted earlier, the Board of Directors has decided to increase the quarterly dividend from $0.20 to $0.25 per share. The Board took into consideration, the increase in collections over what was expected during Q2, combined with the embedded growth in cash flow from the office sector over the next several years, as well as the master lease in the multifamily sector. Using the same 83% collection rate applied to our initial targeted dividend of $0.30 per quarter, it gets you to approximately $0.25 per share per quarter.
As we look at the liquidity on our balance sheet, at the end of the second quarter, we had approximately $396 million in liquidity, comprised of $146 million of cash and cash equivalents and $250 million of availability on our line of credit. And only one of our properties is encumbered by a mortgage. Our leverage which we measure in terms of net debt to EBITDA was 6.4 times on a quarterly annualized basis, resulting from the lower EBITDA from the added reserves that we took in the retail sector during Q2. On a trailing 12 month basis, our EBITDA would be approximately 5.8 times. Our focus is to maintain our net debt to EBITDA at 5.5 times or below.
Our interest coverage and fixed charge coverage ratio ended the quarter at 3.8 times on a quarterly annualized basis and at 4.1 times on a trailing 12 month basis. And finally with respect to $250 million of unsecured debt maturities that come due in 2021, we expect to extend the $100 million term loan up to 3 times with each extension for a one-year period subject to certain conditions and the remaining $150 million Series A Notes does not mature until October 31, 2021, which we would expect to refinance at lower rates.
Regarding our guidance, as we previously disclosed, we withdrew our 2020 guidance on April 3 due to the uncertainty that the pandemic would have on our existing guidance, particularly in our hotel or retail sector. Unfortunately, the economy continues to change day by day and the current outcome remains uncertain as to impact in duration, which is why we will continue to a draw our 2020 guidance.
I'll now turn the call over to Steve Center, Vice President of Office Properties for a brief update on our successes and opportunities in our Office segment. Steve?
Steve Center -- Vice President of Office Properties
Thank you, Bob. At the end of the second quarter, net of One Beach, which is under redevelopments. Our office portfolio stood at approximately 96% leased, with approximately 6% expiring through the end of 2021. We were fortunate to renew the IRS and veterans benefits administration leases early in 2020, the First & Main in Portland in a total of 131,000 feet at start rates nearly 20% above the rates of exploration. Given the quality of our assets and the strength of the markets in which they are located with technology and life science as key market drivers.
We continue to execute new and renewal leases at favorable run rates delivering continued NOI growth. With leases already signed, we have locked in approximately $29.6 million of NOI growth comprised of $6 million in 2020, $14 million in 2021 and $9.6 million in 2022 in our office segment. We anticipate significant additional NOI growth in 2022 through the redevelopment and leasing of One Beach Street in San Francisco and 710 Oregon Square in the Lloyd submarket Portland, along with the repositioning of two buildings at Torrey Reserve in the Del Mar Heights submarket of San Diego.
In addition, we can grow our Office portfolio by up to 768,000 rentable square feet or 22% on sites we already owned by building Tower 3 at La Jolla Commons, which is 213,000 feet and Blocks 90 and 103 at Oregon Square totaling up to 555,000 square feet. Tower 3 at La Jolla Commons is into the city of San Diego for permits and we continue evaluating market condition, prospective tenant interest and hopefully decrease in construction costs, leading to are upcoming commencing construction.
Next, schematic design has completed for Blocks 90 and 103 at Oregon Square with design development of 50% complete. We are scheduled for our first hearing with the design review committee in Portland on August 20. We currently have two active request for proposals from prospective tenants for Blocks 90 and 103 totaling 422,000 square feet, but again we will be evaluating market conditions, tenant interest and construction cost prior to commencing construction. We have a stable office portfolio with little near term rollover, significant built in NOI growth and additional upside through repositioning redevelopment within our existing portfolio plus substantial new development on sites we already own.
Operator, I'll now turn the call over to you for questions.
Adam Wyll -- Executive Vice President and Chief Operating Officer
Very good, Steve. Thanks.
Questions and Answers:
Operator
[Operator Instructions] Our first question comes from Richard Hill with Morgan Stanley.
Ron Kamdem -- Morgan Stanley -- Analyst
Hey. You got -- you got Ron Kamdem on the line for Richard. Just a couple --
Ernest Rady -- Chairman, President and Chief Executive Officer
We can tell Richard, we're glad to have you, Ron. So, welcome.
Ron Kamdem -- Morgan Stanley -- Analyst
That's the right. Just a couple, couple of quick ones from me. The first is, just going back to sort of the reserves taken on the uncollected rents in the retail portfolio. I guess, the question is trying to get an understanding of how much conservatism is baked into that and how confident do you feel that there is not, maybe more reserves coming down the line as sort of the pandemic unfold? So trying to get a sense of the conservatism in the numbers that you guys took.
Robert Barton -- Executive Vice President and Chief Financial Officer
Yeah, Ron. Thanks for the question. We record those reserves in accordance with generally accepted accounting principles. And under that there is a section called 842. And what it says is that we have to be 75% confident that we're going to receive 95% of the cash flows. And in layman's terms, what we look at it is, is a tenant going to survive or not survive. And so we have a group of about eight people, including Adam who is involved with the leases, Chris Sullivan, heads up our Retail, our Controller, it's a whole team effort.
And what we do is, we try to be -- we're not trying to be aggressive at all. What we're trying to do is be conservative and -- but in this pandemic, it changes daily. And what we do is, we continue to evaluate that on a month-to-month basis and as new developments happen, we'll -- with the reserves increase over time, as a pandemic continues to linger there will probably be more fallout. And as a result we'll probably have to add to reserves. But at this point in time, I feel that those reserves that we've put on the books are adequately represented on a conservative basis.
Ernest Rady -- Chairman, President and Chief Executive Officer
Our strategy has always been to try and overpromise -- underpromise our overdeliver. And there is no pressure to have those reserves less than they are to be. And so, as Bob says that committee has looked at it carefully and that's our best bet under these present circumstances, Ron, and thank you for asking.
Ron Kamdem -- Morgan Stanley -- Analyst
Got it. Just a couple more quick ones. Just on the dividend, I think you decided to raise in 3Q about $0.05. I think you cited just better, better rent collections. I'm just trying to get a little more color on what went into that decision because it feels like maybe the Board, think that the worst is behind them and you feel like you sort of have a handle on the pandemic and the fallout to be able to sort of do that. So what went into that decision? What gave you confidence to boost? And how should we think about that going forward?
Ernest Rady -- Chairman, President and Chief Executive Officer
No. As I said earlier, Ron, going into this pandemic. Frankly I was close to panic because I've never seen circumstances like this and I thought that we are in for a catastrophic situation. The situation has not been as bad as our worst case thoughts led us to. And so when we presented to the Board, a quarter ago to cut from $0.30 to $0.20 we took into account our view of the unknowns that we were facing. But as we've come face to face with those unknowns while they been very upsetting and very difficult, they haven't been as catastrophic as we expected. So we suggested to the Board that they look at this with a more balanced approach and rather the catastrophic approach that we had suggested at the last quarter. And so we would -- we paided the cutting dividend if you want to know the truth.
We would love to have maintain the dividend at the same level we have since we went public and increase it as we have over the 11 or 12 years since we've been public. That is just not in the cards given the circumstances that we're presently facing. And we'll just have to see how it unfolds. The Board will make a decision quarter-by-quarter, but I would think that based on the projections we have now and the field we have in the marketplace that the $0.25 should be able to be continued. And with any good luck hopefully, we'll get back to where we'd like to be, which is the same dividend as in prior years and even a small increase, if at all possible feasible.
Ron Kamdem -- Morgan Stanley -- Analyst
Great. And then my last one, if I may. I think one of the questions we're getting the most on the desk is just about sort of work from home and the implications, right. And when they think about your portfolio and just a great amount of demand, the tenants and I think the numbers a sort of shown that. The question is really, what's the possibility of sort of the office market turning into haves and have-nots, right? When you think about some of maybe the older stock out there compared to sort of your -- your sort of Class A stuff? Is there -- what's the possibility maybe those assets being just before so impacted from work-from-home? And what are you hearing on from tenants on the work from home front. What sort of thinking do you face? Thank you.
Ernest Rady -- Chairman, President and Chief Executive Officer
Well, I think when this started everybody said well, who needs office. But I'd tell you as somebody who is involved in business on a day-to-date basis. We miss people coming into the office and all the result -- good results that flow from that, the idea flow, the training. And so I know the theory is, you don't need office. The practice is office is a valuable a way to operate the business and I'm looking forward to people coming back. How this is all going to come about? I don't know, but I have confidence that the office portfolio we have in the high quality, high-growth markets where there is innovation and job creation. We will have a market for our office and I hopefully even a growing market. That's my best guess I mean, I don't know what the answer is, but if you probably hear from lots of people if they, If it was New York City, I would be more frightened. [Indecipherable] West Coast markets are very vibrant, and I think we have a good future with the portfolio we have.
Ron Kamdem -- Morgan Stanley -- Analyst
Thanks. Very helpful, thank you. Appreciate it.
Ernest Rady -- Chairman, President and Chief Executive Officer
Thank you, Ron.
Operator
Our next question comes from Todd Thomas with KeyBanc Capital Markets.
Todd Thomas -- KeyBanc Capital Markets -- Analyst
Hi. Thanks. Good morning. Just first question, I guess, following up on that, just wondering if you had any update specifically from Google, regarding their plan to move in and occupancy at Landmark just given their latest announcement about not bringing back employees until at least the summer of '21.
Ernest Rady -- Chairman, President and Chief Executive Officer
Jerry Gammieri is going to answer that. He is in constant contact with them and we'll update you. Yeah. And thanks for the question, Todd.
Jerry Gammieri -- Vice President of Construction and Development
Yeah. Good morning, Todd. So, at our landmark project in San Francisco in March, we basically stopped construction at that point. And at that point we had two of the seven floors completed. They have remobilized this week and they are proceeding with the work on during the break, I'll call it. There was a lot of discussion about what they would do with the space whether they would reprogram, whether they would change their layout or their floor plan. The decision has been made to proceed with the plans as originally contemplated. So they are moving ahead, full steam now starting again this week and expecting to complete somewhere around the first quarter of '21.
Todd Thomas -- KeyBanc Capital Markets -- Analyst
Okay. And then Ernest, I appreciate your perspective sort of longer term, but curious in the interim here, as you're moving forward with a number of leasing initiatives in the office segment. Are you seeing any, any changes in demand across your markets, any changes in conversations with tenants about how they're thinking about office space rents or their decision and sort of willingness to sign leases today?
Ernest Rady -- Chairman, President and Chief Executive Officer
I'll tell you, unless somebody's dead, dumb and deaf, they're thinking about the circumstances that they're operating under now, but Steve Center is in constant contact with the agents and the prospective tenants and you probably best able to handle that, Steve.
Steve Center -- Vice President of Office Properties
Yeah. We're seeing tenants proceed with their plans. One example is Smartsheet just recently signing a deal to accelerate taking two additional floors at City Center Bellevue by 14 months. As Jerry pointed out Google, they are proceeding with their plans. It's not a matter of, and they're moving back in, it's a matter of when. And what I liked about the message from Jerry is that they're going with the design that they previously come up with pre-COVID. So that's a -- it indicates me if that's a believe that we're going to return to some semblance of normal and get back to business. And so we've got two deals we're in discussions with in Portland for 2023 deliveries. And those are businesses looking through the noise and looking into the future and they've got to grow, and they need a home for all those employees. So far so good, especially with our technology and life science companies.
Todd Thomas -- KeyBanc Capital Markets -- Analyst
Okay. And then shifting over to the multifamily segment, the occupancy decline there was a little bit greater than we expected, but it seems like occupancy is going to get a boost with the master lease at Pacific Ridge. What's the term of that master lease? And is the master lease representative of market rents and then when that kicks in on August 1, where would you expect multifamily occupancy to be?
Ernest Rady -- Chairman, President and Chief Executive Officer
Well, if the master leases for two projects along as Loma Palisades and Pacific Ridge. And Abigail, why don't you take that. Abigail and Adam did a great job in negotiating this transaction.
Abigail Rex -- Director, Multifamily San Diego
Sure. Good morning. So that master lease agreement will span between Loma Palisades and Pacific Ridge and consist of about 130 units. A little bit above market rate, because it's an all-inclusive rental rate package for the university that will be for a 10-month term starting August 1 and then go through May 31 of 2021. Excuse me, and we anticipate that come August when all of the move-ins take place not only in addition to this master lease but with other renters as well. We'll probably be back to the low to mid '90s, as Bob mentioned earlier.
Ernest Rady -- Chairman, President and Chief Executive Officer
But one thing that you have to consider is that the government's now are extending the terms that tenants have to pay the rent with this lease it's collectible and that's a huge difference. So in addition to the rates being acceptable and perhaps even a bit more than acceptable. The quality of the payment is assured and that's a big deal in this crazy market.
Todd Thomas -- KeyBanc Capital Markets -- Analyst
Okay. All right. Great. Thank you.
Ernest Rady -- Chairman, President and Chief Executive Officer
Thank you, Todd. Thanks for your interest.
Operator
Our next question comes from Craig Schmidt with Bank of America.
Ernest Rady -- Chairman, President and Chief Executive Officer
Good morning, Craig.
Craig Schmidt -- Bank of America -- Analyst
Good morning to you. I was just wondering what you're seeing regarding the California efforts to roll back reopenings on the retail real estate, whether in terms of impact to traffic or possible impact on rent collection?
Ernest Rady -- Chairman, President and Chief Executive Officer
Chris, you want to handle.Yeah. I mean, this thing changes day by day. So maybe you have a view that you can to share.
Chris Sullivan -- Vice President of Retail Properties
The largest impact that came back, as you remember right after Memorial Day that restaurants were allowed to start reopening inside, That only last for a couple of weeks or so depending on what county you are in. And then when they shutdown restaurants to operate inside dining that really threw a wrench in the system. So as you drive around your own town and where you are, you can see the restaurateurs have to try sidewalk dining or patios if they had. And unfortunately, when that lowered the occupancy so much that they're all fighting just to cover their cost and keep their remaining chefs and some staff on.
So that really threw a monkey wrench into it. This is most of our shopping center guys have we might have 10% to 15% foodservice in your properties. The other piece is that really hurt was all of the salons -- nail salons and quite a bit of the service providers that were no longer able to have folks come inside, get a haircut or have their nails done. So it's the constant little chipping away that has certainly had an effect on retail, so that's the biggest piece I've seen besides all the other problems of the tourism and the rest of it, the whole country and world spacing.
Ernest Rady -- Chairman, President and Chief Executive Officer
Thanks, Chris. Thank you, Craig. Any more questions, Craig.
Craig Schmidt -- Bank of America -- Analyst
I guess, I know that in terms of university housing for the students, they're changing the densities that they are allowing, is that having any impact positive or negative on you, in terms of your multifamily leasing?
Ernest Rady -- Chairman, President and Chief Executive Officer
Yes. I think that was the genesis for the lease that we signed with the local university as they were dedensifying, if that's a word, their dorms and they needed more space. Unfortunately that lease expires just at the heavy rental season. So we'll have a better opportunity to fill those leases up. Hopefully when the market is more normal, there is a vaccine that world has returned to normal and our properties, we will have the opportunity to fill them up again. But in the meantime, it's a great stop beyond measure collectible.
Craig Schmidt -- Bank of America -- Analyst
Okay. Thank you.
Operator
Thank you. And I'm not showing any further questions at this time, I'd like to turn the call back over to Chairman, Ernest Rady for concluding remarks.
Ernest Rady -- Chairman, President and Chief Executive Officer
Again to sum it all up, this is a very difficult time. American Assets Trust has great properties, a great team and liquidity. It's certain that we will see the other side of this pandemic and we will come out of this, at least as good as we were coming into this and hopefully better with all of the opportunities that are available to us. So thank you all for your interest and we hope to talk to you 90 days from now.
Operator
[Operator Closing Remarks]
Duration: 34 minutes
Call participants:
Adam Wyll -- Executive Vice President and Chief Operating Officer
Ernest Rady -- Chairman, President and Chief Executive Officer
Robert Barton -- Executive Vice President and Chief Financial Officer
Steve Center -- Vice President of Office Properties
Jerry Gammieri -- Vice President of Construction and Development
Abigail Rex -- Director, Multifamily San Diego
Chris Sullivan -- Vice President of Retail Properties
Ron Kamdem -- Morgan Stanley -- Analyst
Todd Thomas -- KeyBanc Capital Markets -- Analyst
Craig Schmidt -- Bank of America -- Analyst
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | American Assets Trust Inc (NYSE: AAT) Q2 2020 Earnings Call Jul 29, 2020, 11:00 a.m. And we've leverage the high unemployment rates in our markets to hire top caliber associates to fill open positions at AAT. Operator [Operator Closing Remarks] Duration: 34 minutes Call participants: Adam Wyll -- Executive Vice President and Chief Operating Officer Ernest Rady -- Chairman, President and Chief Executive Officer Robert Barton -- Executive Vice President and Chief Financial Officer Steve Center -- Vice President of Office Properties Jerry Gammieri -- Vice President of Construction and Development Abigail Rex -- Director, Multifamily San Diego Chris Sullivan -- Vice President of Retail Properties Ron Kamdem -- Morgan Stanley -- Analyst Todd Thomas -- KeyBanc Capital Markets -- Analyst Craig Schmidt -- Bank of America -- Analyst More AAT analysis All earnings call transcripts {%sfr%} 10 stocks we like better than American Assets Trust When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. | Operator [Operator Closing Remarks] Duration: 34 minutes Call participants: Adam Wyll -- Executive Vice President and Chief Operating Officer Ernest Rady -- Chairman, President and Chief Executive Officer Robert Barton -- Executive Vice President and Chief Financial Officer Steve Center -- Vice President of Office Properties Jerry Gammieri -- Vice President of Construction and Development Abigail Rex -- Director, Multifamily San Diego Chris Sullivan -- Vice President of Retail Properties Ron Kamdem -- Morgan Stanley -- Analyst Todd Thomas -- KeyBanc Capital Markets -- Analyst Craig Schmidt -- Bank of America -- Analyst More AAT analysis All earnings call transcripts {%sfr%} 10 stocks we like better than American Assets Trust When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. American Assets Trust Inc (NYSE: AAT) Q2 2020 Earnings Call Jul 29, 2020, 11:00 a.m. And we've leverage the high unemployment rates in our markets to hire top caliber associates to fill open positions at AAT. | Operator [Operator Closing Remarks] Duration: 34 minutes Call participants: Adam Wyll -- Executive Vice President and Chief Operating Officer Ernest Rady -- Chairman, President and Chief Executive Officer Robert Barton -- Executive Vice President and Chief Financial Officer Steve Center -- Vice President of Office Properties Jerry Gammieri -- Vice President of Construction and Development Abigail Rex -- Director, Multifamily San Diego Chris Sullivan -- Vice President of Retail Properties Ron Kamdem -- Morgan Stanley -- Analyst Todd Thomas -- KeyBanc Capital Markets -- Analyst Craig Schmidt -- Bank of America -- Analyst More AAT analysis All earnings call transcripts {%sfr%} 10 stocks we like better than American Assets Trust When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. American Assets Trust Inc (NYSE: AAT) Q2 2020 Earnings Call Jul 29, 2020, 11:00 a.m. And we've leverage the high unemployment rates in our markets to hire top caliber associates to fill open positions at AAT. | Operator [Operator Closing Remarks] Duration: 34 minutes Call participants: Adam Wyll -- Executive Vice President and Chief Operating Officer Ernest Rady -- Chairman, President and Chief Executive Officer Robert Barton -- Executive Vice President and Chief Financial Officer Steve Center -- Vice President of Office Properties Jerry Gammieri -- Vice President of Construction and Development Abigail Rex -- Director, Multifamily San Diego Chris Sullivan -- Vice President of Retail Properties Ron Kamdem -- Morgan Stanley -- Analyst Todd Thomas -- KeyBanc Capital Markets -- Analyst Craig Schmidt -- Bank of America -- Analyst More AAT analysis All earnings call transcripts {%sfr%} 10 stocks we like better than American Assets Trust When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. American Assets Trust Inc (NYSE: AAT) Q2 2020 Earnings Call Jul 29, 2020, 11:00 a.m. And we've leverage the high unemployment rates in our markets to hire top caliber associates to fill open positions at AAT. |
21003.0 | 2020-06-08 00:00:00 UTC | Ex-Dividend Reminder: American Assets Trust, NIC and Perspecta | AAT | https://www.nasdaq.com/articles/ex-dividend-reminder%3A-american-assets-trust-nic-and-perspecta-2020-06-08 | nan | nan | Looking at the universe of stocks we cover at Dividend Channel, on 6/10/20, American Assets Trust Inc (Symbol: AAT), NIC Inc. (Symbol: EGOV), and Perspecta Inc (Symbol: PRSP) will all trade ex-dividend for their respective upcoming dividends. American Assets Trust Inc will pay its quarterly dividend of $0.20 on 6/25/20, NIC Inc. will pay its quarterly dividend of $0.09 on 6/25/20, and Perspecta Inc will pay its quarterly dividend of $0.07 on 7/15/20. As a percentage of AAT's recent stock price of $33.81, this dividend works out to approximately 0.59%, so look for shares of American Assets Trust Inc to trade 0.59% lower — all else being equal — when AAT shares open for trading on 6/10/20. Similarly, investors should look for EGOV to open 0.35% lower in price and for PRSP to open 0.29% lower, all else being equal.
Below are dividend history charts for AAT, EGOV, and PRSP, showing historical dividends prior to the most recent ones declared.
American Assets Trust Inc (Symbol: AAT):
NIC Inc. (Symbol: EGOV):
Perspecta Inc (Symbol: PRSP):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 2.37% for American Assets Trust Inc, 1.40% for NIC Inc., and 1.15% for Perspecta Inc.
In Monday trading, American Assets Trust Inc shares are currently up about 3%, NIC Inc. shares are up about 0.3%, and Perspecta Inc shares are up about 0.3% on the day.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | As a percentage of AAT's recent stock price of $33.81, this dividend works out to approximately 0.59%, so look for shares of American Assets Trust Inc to trade 0.59% lower — all else being equal — when AAT shares open for trading on 6/10/20. Looking at the universe of stocks we cover at Dividend Channel, on 6/10/20, American Assets Trust Inc (Symbol: AAT), NIC Inc. (Symbol: EGOV), and Perspecta Inc (Symbol: PRSP) will all trade ex-dividend for their respective upcoming dividends. Below are dividend history charts for AAT, EGOV, and PRSP, showing historical dividends prior to the most recent ones declared. | Looking at the universe of stocks we cover at Dividend Channel, on 6/10/20, American Assets Trust Inc (Symbol: AAT), NIC Inc. (Symbol: EGOV), and Perspecta Inc (Symbol: PRSP) will all trade ex-dividend for their respective upcoming dividends. American Assets Trust Inc (Symbol: AAT): NIC Inc. (Symbol: EGOV): Perspecta Inc (Symbol: PRSP): In general, dividends are not always predictable, following the ups and downs of company profits over time. As a percentage of AAT's recent stock price of $33.81, this dividend works out to approximately 0.59%, so look for shares of American Assets Trust Inc to trade 0.59% lower — all else being equal — when AAT shares open for trading on 6/10/20. | Looking at the universe of stocks we cover at Dividend Channel, on 6/10/20, American Assets Trust Inc (Symbol: AAT), NIC Inc. (Symbol: EGOV), and Perspecta Inc (Symbol: PRSP) will all trade ex-dividend for their respective upcoming dividends. American Assets Trust Inc (Symbol: AAT): NIC Inc. (Symbol: EGOV): Perspecta Inc (Symbol: PRSP): In general, dividends are not always predictable, following the ups and downs of company profits over time. As a percentage of AAT's recent stock price of $33.81, this dividend works out to approximately 0.59%, so look for shares of American Assets Trust Inc to trade 0.59% lower — all else being equal — when AAT shares open for trading on 6/10/20. | As a percentage of AAT's recent stock price of $33.81, this dividend works out to approximately 0.59%, so look for shares of American Assets Trust Inc to trade 0.59% lower — all else being equal — when AAT shares open for trading on 6/10/20. Looking at the universe of stocks we cover at Dividend Channel, on 6/10/20, American Assets Trust Inc (Symbol: AAT), NIC Inc. (Symbol: EGOV), and Perspecta Inc (Symbol: PRSP) will all trade ex-dividend for their respective upcoming dividends. Below are dividend history charts for AAT, EGOV, and PRSP, showing historical dividends prior to the most recent ones declared. |
21004.0 | 2020-04-29 00:00:00 UTC | American Assets Trust Inc (AAT) Q1 2020 Earnings Call Transcript | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-q1-2020-earnings-call-transcript-2020-04-30 | nan | nan | Image source: The Motley Fool.
American Assets Trust Inc (NYSE: AAT)
Q1 2020 Earnings Call
Apr 29, 2020, 11:00 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Ladies and gentlemen, thank you for standing by, and welcome to the Q1 2020 American Assets Trust, Inc. Earnings Conference Call. [Operator Instructions]
I would now like to hand the conference over to your speaker today, Adam Wyll, EVP and COO. Thank you. Please go ahead, sir.
Adam Wyll -- Executive Vice President and Chief Operating Officer
Thank you. Good morning, everyone. Welcome to American Asset Trusts First Quarter 2020 Earnings Call. Yesterday afternoon, our earnings release and supplemental information were furnished to the Securities and Exchange Commission on Form 8-K. Both are now available on the Investors section of our website, americanassetstrust.com.
A telephonic replay and on-demand webcast will also be available for this call over the next week. During this call, we will discuss non-GAAP financial measures which are reconciled to our GAAP financial results in our earnings release and supplemental information. We will also be making forward-looking statements based on current expectations. These statements are subject to risks, uncertainties discussed in our SEC filings. You are cautioned not to place undue reliance on these forward-looking statements. Actual events could cause our results to differ materially from these forward-looking statements, which we undertake no duty to update.
And with that, I'll turn the call over to Ernest Rady, our Chairman and CEO; and to begin the discussion of our first quarter 2020 results. Thank you.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Thank you, Adam. That was especially eloquent, and good morning to everybody. We recently released our 2019 annual report that we prepared during the first quarter of 2020 prior to the COVID-19 pandemic. The theme of our annual report was being grateful. During these unprecedented times, we are even more grateful, great for our colleagues, investors, banking relationships, research analysts and our families and our great portfolio. We are grateful for the first responders and healthcare workers on the front lines and the research taking place to find a grateful find a vaccine. We are grateful for all the little things in life that we have often taken for granted. One thing is certain that together, we will get through this period of history. This question is how we will be impacted and what we will look like on the other side, we are not immune from the pandemic. We too feel the bumps and bruises along the way, which Bob will talk about in more detail. But overall, our expectations and confidence is that our high-quality portfolio in Coastal West Coast markets, combined with a low leverage balance sheet, will pull us through this period in history and come out better on the other side.
As we mentioned on our earnings release, the Board of Directors reduced the dividend from $0.30 per share to $0.20 per share for the second quarter. Reducing the dividend is heart breaking for me. It's not the track record that we wanted. And we've done it with regret and humility. But in the absence of caution during these periods of times, the Board thought it was the thing to do. We will ask the Board of Directors to reconsider making up the shortfall in subsequent quarters as soon as we can see the retail sector starting to rebound.
I'm going to turn the call back over to Adam Wyll, our EVP and Chief Operating Officer, who will give us a quick update on our operations during this pandemic. Following Bob Barton, our EVP and Chief Financial Officer, and will end with a quick update on the office leasing success that Steve Center, our Vice President of Office Properties is seeing. Adam? Thank you, sir.
Adam Wyll -- Executive Vice President and Chief Operating Officer
Thanks, Ernest. From an operations perspective, in early March, we quickly mobilized to implement our business continuity and crisis management plans to help protect the health and safety of our employees, tenants and vendors and to maintain consistent open communications, both internally and to our stakeholders. Our entire employee base continues to either work remotely or on-site at one or more of our properties.
Employees are generally only on site, if necessary, to either maintain critical building systems, ensure any essential businesses that are properties are properly accommodated and to provide resident services at our multifamily properties with skeleton rotating crews when feasible. Each of our properties remain open and operating, while following all local, state and federal directives and mandates.
Across the board, we have increased security and implemented additional health and safety protocols at our properties. However, we have scaled back other property management services to be more in balance with the current needs of those essential tenants that are opening, which we expect will help reduce property operating expenses.
Additionally, we have determined to delay most nonessential building improvement in common area projects, except for work already under contract. As expected, we have received a myriad of rent relief request. The vast majority from our retail tenants, many of which we believe to be opportunistic in nature. The majority of such requests are from restaurants, salons, fitness centers, gyms and apparel stores. Not all tenant requests will ultimately result in rent modification agreements nor are we foregoing our contractual rights under our lease agreements. However, for those tenants that we agree to modifications or concessions, we may support them during the short term, in ways that we believe will benefit us over the longer term. We are also asking for some cash or other consideration from our tenants as part of the modifications or concessions.
Finally, we have begun preparing our return to office plans in each of our office markets so that we can quickly disseminate such information to our employees and tenants once regulatory authorities begin to lift or relax, stay at home orders and implement market-specific restrictions.
With that, I'll turn the call over to Bob to discuss Q1 results and the impact from COVID-19.
Robert Barton -- Executive Vice President and Chief Financial Officer
Good morning, and thank you, Adam. Last night, we reported first quarter 2020 FFO of $0 56 per share and net income attributable to common stockholders of $0.20 per share for the first quarter. As previously disclosed, we withdrew our 2020 guidance on April three due to the uncertainty that the pandemic would have on our existing guidance. At the time we withdrew our 2020 guidance, we believe that we are on track, approximately a $7.6 million reduction in our dividend distribution from Q1.
The Board decided to do this out of an abundance of caution due to the uncertainty during this pandemic, even though we believe our balance sheet and current liquidity remains strong. There is actually some science or math that supports the reduction that was made in the dividend. What we did was to multiply each sector's cash net operating income by the percentage of cash collected on April rents billed through April 15. Office is 49% of our cash NOI, and we had collected approximately 90% of April billings. Retail is 31% of our cash NOI, and we had collected 43% of our April billings. Multifamily is 12% of our cash NOI. And and we had collected 92% of our April billings.
We have won 369 room hotel in our portfolio, which has been the number one performing Embassy Suites hotel in the world since we opened the doors in December 2006. It is known as the Embassy Suites Waikiki that sits on a retail podium referred to as Waikiki Beach Walk. The Embassy Suites Waikiki is 5% of our cash NOI, which is currently running on a skeleton crew with a minimal occupancy ranging from 5% to 15% based on Hawaii shelter in place order that has been issued through May 31.
Accordingly, we are not expecting any increased occupancy until this order has been lifted. When you add these percentages up, it is approximately 68% of cash NOI and applied to a $0.30 dividend, it supports a revised dividend of approximately $0.20 per share. We also believe that from a risk perspective, diversification is a plus and lessens the impact from uncertain times like this. It is also worth noting that since our board determined our dividend in April, we have seen an uptick in April rent collections. Such that we have now collected approximately 94% of office rents, 47% of retail rents, including the retail component of Waikiki Beach Walk and 94% of multifamily rents that were due in April 2020.
Other than our One Embassy Suites hotel that represents approximately 5% of our NOI, our retail sector, which represents approximately 31% of our NOI is obviously feeling the most impact with approximately 47% of April billings collected. Approximately 24% of our retail tenants are considered to provide essential services and remain open during this period of time, and the balance of tenants are considered to provide nonessential services, which we are working with to create a positive outcome for both parties. We expect the second quarter will be the most difficult, but we believe that we are well prepared with a strong balance sheet and strong.
As we look at our balance sheet and liquidity at the end of the first quarter, we had approximately $402 million in liquidity comprised of $52 million of cash and cash equivalents and $350 million of availability on our line of credit, and only one of our properties is encumbered by our mortgage. Our leverage, which we measure in terms of net debt-to-EBITDA was 5.6 times at the end of Q1. Our focus is to maintain our net debt-to-EBITDA at 5.5 times or below.
Our interest coverage and fixed charge coverage ratio ended the quarter at 4.3 times. Additionally, in early April, we drew down $100 million out of the $350 million revolving line of credit, under our line of credit for working capital and general corporate purposes and to ensure future liquidity given the COVID-19 pandemic.
And finally, with respect to the $250 million of unsecured debt maturities that come due in 2021, we have options to extend the $100 million term loan up to 3 times with each such extension for one year period, subject to certain conditions. And the remaining $150 million unsecured Series A notes do not mature until October 31, 2021.
I'll now turn the call over to Steve Center, our Vice President of Office Properties. Steve?
Steve Center -- Vice President of Office Properties
Good morning. Thank you, Bob. We have continued to drive brands and further stabilize our office portfolio. We ended the quarter at over 94% leased with only 9% of the office portfolio expiring through the end of 2021. City Center Bellevue remains 99% leased, but we continue to expand and extend our existing customers at much higher rates. We completed a full floor renewal with a major financial firm at a starting rate that is approximately 66% above the ending rate.
Portland has also remained very strong for us. Our Lloyd District office buildings remain 100% leased. We recently completed a full floor lease with an energy-related company with a start rate approximately 28% above the ending rate of the prior customer. Similar to the 830 building at Oregon Square, we are currently redeveloping the 710 building, a 33,276 square-foot building that we hope to deliver in early 2021.
In addition, due to the increased demand from our existing customers, as well as other tenants in the market, we are in the early stages of design development of two new office buildings on the two remaining blocks at Oregon Square, which we will continue to evaluate pending market conditions. At First & Main, we succeeded in Gate Bridge. The fully renovated approximately 102,000 square-foot building will provide an 85,000 square foot contiguous opportunity to hopefully be delivered in mid-2021.
Finally, our San Diego portfolio stands at approximately 92% leased versus the overall Class A market at 89% leased. two of the 14 buildings at Torrey reserve represents 65% of our San Diego vacancy. Both have renovations and design development, and we are aggregating spaces into larger blocks, which are scarce in UTC and Del Mar Height. Solana crossing now stands at over 95% leased. And Torrey point is on track to be 97% leased with a recent expansion of one customer, a pending expansion of another and AAT's move later this year.
The two existing towers of La Jolla Commons stay 99% leased. Additionally, we hope to have a building permit in the next few months for building three, and we will evaluate commencing construction as market conditions continue to evolve. That said, we remain bullish long-term on the UTC market. Direct vacancy in Class A buildings in UTC is just 3.3%, with only 0.5% of sublease space vacant, and we expect continued significant new demand driven by both life science and technology users.
Operator, I'll now turn the call over to you for questions.
Questions and Answers:
Operator
[Operator Instructions] Actually, our first question comes from Craig Schmidt from Bank of America. Please go ahead.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
We have a cautious group here. Before we assembled to make this call, we took each other's temperature. Have you had your temperature taken yet, Craig?
Craig Richard Schmidt -- BofA Merrill Lynch -- Analyst
I do have a thermometer, but I haven't taken it this morning.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Okay. We don't know if we can trust you in the meeting, but go ahead.
Craig Richard Schmidt -- BofA Merrill Lynch -- Analyst
Okay. I was wondering, given that it's a couple of days away, what are you expecting on May collectibles for retail?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
You know, I don't know. I've never seen this circumstance before. We have identified the fact that our tenants are anxious to reopen. Some of them have limited financial capacity. They all have great desire. We don't know what our center in California is going to do as far as opening up the economy again. I think when they open up, some of them will struggle and some of them will prosper. So that was one of the reasons we the board took this conservative stance to make sure that when the opportunity does present itself, we're there to avail ourselves of it. So I just don't know. Is that a fair question. Sully, you've got a different opinion? Chris Sullivan runs our retail.
Chris Sullivan -- Vice President of Retail Properties
Craig, as Bob pointed out, the percentages of our collection. I imagine we'll probably be potentially somewhere near those collections or a little bit less, but it's going to be a challenge for May when you consider that the majority of the tenants in the country have more or less closed for six weeks.
Craig Richard Schmidt -- BofA Merrill Lynch -- Analyst
Got you. And then on on the rent negotiations, are you looking to get greater control or extend the term of the lease when you're giving deferrals?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Absolutely. If we give something, we try and get something. And as you pointed out, those are the opportunities, greater control of the property, extension of the lease, them putting up some money in addition. If they just throw up their hands, why do we want to work with them. So we've got to get something for giving something. Is that a fair statement, Sully.
Chris Sullivan -- Vice President of Retail Properties
So yes, that's a very fair statement. Many as you know, Craig, in many of the big national tenants, you're going to have cotenancies and sales terminations, exclusive for inhibited use is just numerous and commences on those pieces. So that's a time for us to come back through those and see what we can do to improve our position. So that, as Ernest said, we've got more control over the property going forward.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
We have a committee to approve these deferrals of Adam, myself and Chris, and nothing happens without the three of us approving those terms. So we're careful to make sure that we don't do something without merit.
Craig Richard Schmidt -- BofA Merrill Lynch -- Analyst
Ok. Thank you.
Operator
I show our next question comes from Rich Hill from Morgan Stanley. Please go ahead.
Richard Hill -- Morgan Stanley -- Analyst
Hey good morning guys. I guess I have several questions. First of all, on 1Q, I was hoping you could provide a little bit more detail on the same-store NOI performance of the multifamily portfolio. I remember that prior quarter, you said that it was going to be a slight dip and maybe come a little bit better later in the year. Unless you want to give guidance, which I'm having to take. I'm not asking about the rest of the year. But I am curious about 1Q because it was maybe worse than what we were expecting based upon your prior commentary. So if you can give us some thoughts about what drove maybe the further weakness in the apartment portfolio, that would be helpful.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Bob has been waiting for that question. Thank you for asking it.
Robert Barton -- Executive Vice President and Chief Financial Officer
Yes, Rick. It's similar to Q4, but the let's say, the majority of the dip in the same-store for the multifamily is really relates to, again, Hassalo and Pacific Ridge. So we have lower revenue at Hassalo, and then higher operating expenses at both. The operating expenses were spread throughout, not only higher compensation for the people working at the sites, high utilities, so that's primarily what is comprised of the that's like 70% of the dip in the same-store NOI for multifamily.
Richard Hill -- Morgan Stanley -- Analyst
Okay. So if I'm inferring there correctly, it's sort of the same story as 4Q where maybe supply was a little bit of pressure, and you had to focus a little bit more, driving operating expenses higher. Is that fair, Bob?
Robert Barton -- Executive Vice President and Chief Financial Officer
Yes, that's fair. I mean, our occupancy is still high, but we're just giving a little bit less on the revenue in the marketplace and giving some more abatements.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Abi, would you want to cover the occupancy of our San Diego portfolio?
Abigail Rex -- Director, Multifamily, San Diego
Sure. I think with the occupancy given present date today, the San Diego portfolio is bringing in pretty high right now. We're currently just about 96% occupied. We've got a little bit under 3.5% availability to rent. And we've got our renters who are paying their rents. So I think we're doing as good as we can get given the current nature of the circumstances.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
And did we have some good fortune with a neighbor at Pacific Ridge that you want to discuss?
Abigail Rex -- Director, Multifamily, San Diego
We did kind of the highlight of Q1, really the tail end for us over at Pacific Ridge was our continued engagement in partnership with USD. We continue to fortify and strengthen that partnership with them. And as a result of COVID came across furthering our partnership with them and entered into a master lease agreement, whereby USD had to move some of the units out of their dorms or the residents out of their dorms. And we were able to secure a good number of units at Pacific Ridge and over at our neighboring community at Loma Palisades. So we entered into a very short-term agreement with them from March 23 through May 31, and it gained a significant amount of money for that very short-term partnership and that we will see further into Q2 for multifamily.
Robert Barton -- Executive Vice President and Chief Financial Officer
I'd like to point out that's USD, not USC.
Richard Hill -- Morgan Stanley -- Analyst
Got it. Helpful color. Bob, maybe just on count of housekeeping. When you think about the deferrals you mentioned in your press release, if you give a deferral in 2Q or maybe beyond, how are you going to account for that? Are you going to book it as a straight-line revenue thereby maybe top line earnings won't be impacted as much, even though free cash flow will be?
Robert Barton -- Executive Vice President and Chief Financial Officer
Yes. What we're going to do is under the accounting, generally accepted accounting principles, they refer to as 842. What we're going to do on a deferment is we're just going to readjust the straight-line rent. It's going to be treated as a lease modification.
And by the way, I'm impressed with your accounting knowledge in your recent publication.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
You have no idea how Bob is for you asking that question.
Richard Hill -- Morgan Stanley -- Analyst
So Bob, I'm sorry for belaboring this point because there's two ways you can account for it. Are you going to it sounds like what you're going to do is adjust the straight-line rent as if and reduce it for variable rents. So there will be a reduction in revenue during that period of time, whereas the other thing you could have done is just kept your straight-line rent the same. And then taking a reserve against receivables. So are you going to effectively be reducing the total rent received by reducing variable rent? Is that right?
Robert Barton -- Executive Vice President and Chief Financial Officer
No, that's not right. So you have an election. And that's one of the things that the SEC came out on is that you can you can elect not to do the lease modification under 842 or you can treat it like variable rent. And if you treat it as variable rent, then you'll take the hit for it on a month-by-month or quarter-by-quarter basis. What we've chosen to do is because we think and the reason why is that we think that the collection is going to be we think that when we do these deferments, we're hopeful that we'll let's say that we'll receive at least 95% of those remaining cash flows. And as a result, we're going to straight-line that without taking any earnings hit from that methodology.
Richard Hill -- Morgan Stanley -- Analyst
Okay. That's very clear. I would just ask you to be as transparent as you possibly can be in 2Q because I think it will help eliminate and avoid some confusion. That's all I had.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
And by the way, Bob, since we went public, I can't speak about that before that because he was probably in jail or something. He has been so transparent and it's a touch point for our company is to be absolutely transparent. We'll continue that. Thanks for asking, Rich. Thanks for caring.
Richard Hill -- Morgan Stanley -- Analyst
Thank you.
Operator
Our next question comes from Haendel St. Juste from Mizuho. Please go ahead.
Haendel Emmanuel St -- Juste-Mizuho Securities -- Analyst
So I guess I had a question going back to the dividend quite first. I guess I'm curious on the decision to only trim the second quarter dividend here, implying that it's more temporary than a permanent cat how do you weigh that decision to trend just the second quarter versus perhaps suspending the dividend or maybe waiting until year-end to decide, what level you wanted to or required to pay out, especially in light of the retail uncertainty you highlighted and the expectation that this likely continues into May and maybe even June?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
At the moment, my view is that regardless of the outcome on retail, that dividend should be sustainable for the next 12 months. So what we ask the Board to consider, what we should do because we felt and they felt it would be illogical not to take into account the current environment for retail. On the other hand, it was equally illogical not to take into account the high-quality portfolio in the rest of the company. So it was a token reduction, hopefully a temporary reduction, hopefully a reduction that can be made up if this retail does they do open up and the retail does continue to function, but we have to send the message that we are not as perfect as we were before COVID-19 as we are after COVID-19. I hope that answers your question. I think that's Bob, anybody else got any view of that?
Robert Barton -- Executive Vice President and Chief Financial Officer
Yes. I think that's right, Ernest. And that was well discussed at the board meeting. I mean, if you look back to Q4 or Q3 when we raised the dividend to $0.30. That basically was based on the expectation or based on knowing that we had leases in place from all the strong office leasing that would take our cash NOI significantly higher. Our expectation is it's going to be over $280 million by the end of 2021 and even higher in that in '22. And that's based on locked in leases. So the $0.30 going into Q1, I think our payout ratio was, what, 1.22%. And by reducing this dividend by $0.10, if you applied a $0.20 dividend to Q1, let's say that we have the same results in Q2. That would be about an 80% payout ratio. So it's just a more conservative stance. It's not that we couldn't do the $0.30 because we have a very strong balance sheet. But I think it was the right outcome with an abundance of caution.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
And of course, the other side of the coin is we do conserve some firepower, as Steve went through the opportunities in office if we pay out a little less, we have a little more ability to take advantage of opportunities that may present themselves. So while it sends a negative message. I hope it also sends a positive message that if you have opportunities, we're going to be prepared to take advantage of them and not have anticipated our firepower on the distribution of cash that could have otherwise been available to take advantage of those opportunities.
Haendel Emmanuel St -- Juste-Mizuho Securities -- Analyst
Got it. And then maybe a question on the retail, the rents that weren't collected in April. And the sounds like the early read for May is probably more of the same, if not incrementally a bit lower. How do you think about or how should we think about the collectibility of that in the case of April, that other 53% that wasn't paid. What does the path to recovering that uncollected rent look like? How are you thinking about?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Yes. As we said earlier, we have a committee of Adam, myself and Chris Sullivan that reviews every deferral. We take into account whether the tenant will have the capacity to renew or likely to have the capacity renew and have they been a good in now. We also try and get some benefit out of it, either interest, if possible, or a rent an extension or some change of terms. And so I don't know what's going to happen. This thing may open up sooner, and this may have been a blip. It may open up a lot later, and it won't be a blip. So I'd like to tell you if I knew, but I honestly don't know. And that led to the action that we that the board took in seeing a more conservative viewpoint than a more optimistic viewpoint that is. Everything is just the same as it's always been. Everything is not the same as it's always been. Do you want to add something, Sully?
Chris Sullivan -- Vice President of Retail Properties
Yes. Haendel, what I'd add to that is that collection percentage there in the high 40s. As we're still working through these receivables, we're still collecting some of that stuff. I mean, it's still part of the deferment process and working it out with tenants if they hadn't paid in April. Okay, here's what your situation is, we'll be able to do x, y and z for you, but you're going to pay a chunk of that and a chunk of it later. So as I kind of use the expression around here, there's still a little more chicken on that bone to get gnawed on, so that we collect more of that April. That April 50% you're looking at is by no stretch gone. We're still working to get that as we move forward.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
And I don't think our situation is any different from any other owner of retail, except perhaps our retail is because of its position on the coastal West Coast barriers to entry, job creation, we probably have a better shot than most. And we hope that time will prove that out.
Haendel Emmanuel St -- Juste-Mizuho Securities -- Analyst
Well, and you're reporting earlier, so it gives us a chance to pepper you with questions first. So...
Ernest S. Rady -- Chairman, President and Chief Executive Officer
I'm sure all our peers are looking at us and saying what do those guys do.
Haendel Emmanuel St -- Juste-Mizuho Securities -- Analyst
A couple of quick follow-ups, if I may. Did you guys have you shared or can you share what percentage of your retail tenant ask for deferrals and what percentage of those you're granting? And then any color on concession, how meaningful they are in terms of the prevalence, any size or any parameters around what you're granting?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Sully is going to answer that. But I'll tell you, it's a war. I mean, if I was a retail tenant, I'd say, what can I get away with? And then as a landlord, we say, you can't get away with anything. And that starts the negotiations. It's war. I mean I don't know how to describe it otherwise. You want to describe it otherwise, Sully?
Chris Sullivan -- Vice President of Retail Properties
No that's about right, but you asked a handout percentage. You figure probably about 50% come asking for something, come just there's a part I call it just some counseling to see what's going on and what can I do. But again, on these deferrals, as Ernest has mentioned, every tenant's its own situation. And you get the big guys coming that have some strong financial statements. It's a much different conversation than take it down to the extreme to the nail salon who hasn't seen a customer in six weeks. So it all varies through it, and we just got to work our way through it, and we will work our way through it. I would say the majority of them will make to what I refer to tomorrow. But certainly, there's going to be some that don't get to tomorrow.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
It's been no fun. And tell you as I think about my career, I wish I could have been a stock analyst, instead of a property manager because it's been tough.
Haendel Emmanuel St -- Juste-Mizuho Securities -- Analyst
Thank you.
Chris Sullivan -- Vice President of Retail Properties
Thank you.
Operator
Our next question comes from Todd Thomas from KeyBanc Capital. Please go ahead.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
But I can tell you it's not over because there's some interference on the call. I don't know what it is. It hasn't. Oh.Todd has a bad connection. If you could hang up and redial back in.
Operator
Our next question comes from Tammi Fique from Wells Fargo Securities.
Tamara Jane Fique -- Wells Fargo Securities -- Analyst
Just wondering, just going back to the deferrals that you're granting, I guess, do you have a policy in place on payback periods for those? Is it six months, 12 months? Just curious if you have kind of a set policy on that.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
It's war. Every armistice as a truce treaty, and it's negotiated. We want the money back as quickly as we can. We have to take into account their willingness to give us it back as quickly as they can and their ability to give it back as quickly as we can. So Sully.
Chris Sullivan -- Vice President of Retail Properties
It varies on the tenant situation, the ability to pay and how that...
Ernest S. Rady -- Chairman, President and Chief Executive Officer
I think it was covered in the script that it's mostly restaurants, nail salons, who haven't seen a customer now in six weeks and then assessing what their viability is going to be when it opens up. So it's so uncertain. I've never seen anything like this.
Tamara Jane Fique -- Wells Fargo Securities -- Analyst
Okay. I guess, are you getting any indications from tenants that they will no longer occupy their spaces at this point?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
No. At this point, I haven't actually received that from one of, let's say, one of the more meaningful tenants. There's certainly some independent tenants that are on the margins of our property. That won't make it because they just didn't pay. And we'll have to take care of that when we're able to. But I haven't heard from any of the big guys that we won't be there tomorrow.
Chris Sullivan -- Vice President of Retail Properties
And even little ones. I haven't heard anybody throw in on the towel.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Not anybody is actually thrown in the towel.
Chris Sullivan -- Vice President of Retail Properties
Nobody is thrown in the towel. They're all hopeful. We're hopeful. And so that gives me some encouragement that, again, the quality of our property locations will allow our retail tenants to continue to product prosper. At least survive anyway.
Tamara Jane Fique -- Wells Fargo Securities -- Analyst
Okay. And then, I guess, based upon your more conservative stance on liquidity at this point, have you revised your capex spending plans for 2020? I think, originally, it was $80 million to $85 million of spending.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Well, we're looking at every nickel I'll tell you that. Every nickel that goes out of here. Bob groans. And but we're not deferring anything that would be reduce our productivity. So we're spending every nickel that we have to and not spending anything that we don't have to. And we're trying to do internally some of the things we would have normally hired out to do. Jerry, you want to cover that?
Jerry Gammieri -- Vice President of Construction and Development
No, that's absolutely accurate. That's where we are.
Robert Barton -- Executive Vice President and Chief Financial Officer
We're hopeful that it won't be what our original guidance was on that. It will be less than that.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
But a lot of the capex, of course, is tenant improvement allowance, and we have good tenants and tenants moved in and we're still looking on to completing those projects. On the other hand, these products are getting delayed because the permits are the municipalities are closed down. So we don't know how much we'll spend because we don't know when we'll get the go ahead.
Tamara Jane Fique -- Wells Fargo Securities -- Analyst
Very true. I guess maybe just office, wondering what your views are on that segment? And I guess, do you think this forced work-from-home trial has disrupted future office demand at all?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
There's two schools of thought. The one school thought I hear is that everybody is used to working at home now, they're not going to come to the office. The other school of thought is that when they come to the office, they're going to require more spacing. We found that not coming to the office is not productive, coming to the office is productive. We all work together. There is synergy. And again, your guess is as good as mine, but things will be different for sure. I don't know what they're going to be, but they're going to be different. I think certain types of businesses will go one way and others will go another way. I don't know.
Operator
I don't show to Todd Thomas in the queue at this time. With that, I'd like to turn the call over to Mr. Ernest Rady, Chairman, for closing remarks. Please go ahead.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Ernest Sylvan Rady, American Assets Trust, Inc.-Chairman, President & CEO 63 Okay. Again, I want to tell you how grateful we are for first of all, for the great team we have you have at AAT. Grateful for the great properties we have, great locations. They're not going to get any worse. If anything, they're going to get better. As this thing unfolds and some of our competitors are not as productive. So looking forward to the short-term with great uncertainty and a long-term with great enthusiasm. And thank you for your interest.
Operator
Ladies and gentlemen, this concludes today's conference call. Thank you for participating. You may now disconnect.
Duration: 40 minutes
Call participants:
Adam Wyll -- Executive Vice President and Chief Operating Officer
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Robert Barton -- Executive Vice President and Chief Financial Officer
Steve Center -- Vice President of Office Properties
Chris Sullivan -- Vice President of Retail Properties
Abigail Rex -- Director, Multifamily, San Diego
Jerry Gammieri -- Vice President of Construction and Development
Craig Richard Schmidt -- BofA Merrill Lynch -- Analyst
Richard Hill -- Morgan Stanley -- Analyst
Haendel Emmanuel St -- Juste-Mizuho Securities -- Analyst
Tamara Jane Fique -- Wells Fargo Securities -- Analyst
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | American Assets Trust Inc (NYSE: AAT) Q1 2020 Earnings Call Apr 29, 2020, 11:00 a.m. And Torrey point is on track to be 97% leased with a recent expansion of one customer, a pending expansion of another and AAT's move later this year. Again, I want to tell you how grateful we are for first of all, for the great team we have you have at AAT. | Duration: 40 minutes Call participants: Adam Wyll -- Executive Vice President and Chief Operating Officer Ernest S. Rady -- Chairman, President and Chief Executive Officer Robert Barton -- Executive Vice President and Chief Financial Officer Steve Center -- Vice President of Office Properties Chris Sullivan -- Vice President of Retail Properties Abigail Rex -- Director, Multifamily, San Diego Jerry Gammieri -- Vice President of Construction and Development Craig Richard Schmidt -- BofA Merrill Lynch -- Analyst Richard Hill -- Morgan Stanley -- Analyst Haendel Emmanuel St -- Juste-Mizuho Securities -- Analyst Tamara Jane Fique -- Wells Fargo Securities -- Analyst More AAT analysis All earnings call transcripts {%sfr%} 10 stocks we like better than American Assets Trust When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. American Assets Trust Inc (NYSE: AAT) Q1 2020 Earnings Call Apr 29, 2020, 11:00 a.m. And Torrey point is on track to be 97% leased with a recent expansion of one customer, a pending expansion of another and AAT's move later this year. | Duration: 40 minutes Call participants: Adam Wyll -- Executive Vice President and Chief Operating Officer Ernest S. Rady -- Chairman, President and Chief Executive Officer Robert Barton -- Executive Vice President and Chief Financial Officer Steve Center -- Vice President of Office Properties Chris Sullivan -- Vice President of Retail Properties Abigail Rex -- Director, Multifamily, San Diego Jerry Gammieri -- Vice President of Construction and Development Craig Richard Schmidt -- BofA Merrill Lynch -- Analyst Richard Hill -- Morgan Stanley -- Analyst Haendel Emmanuel St -- Juste-Mizuho Securities -- Analyst Tamara Jane Fique -- Wells Fargo Securities -- Analyst More AAT analysis All earnings call transcripts {%sfr%} 10 stocks we like better than American Assets Trust When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. American Assets Trust Inc (NYSE: AAT) Q1 2020 Earnings Call Apr 29, 2020, 11:00 a.m. And Torrey point is on track to be 97% leased with a recent expansion of one customer, a pending expansion of another and AAT's move later this year. | Duration: 40 minutes Call participants: Adam Wyll -- Executive Vice President and Chief Operating Officer Ernest S. Rady -- Chairman, President and Chief Executive Officer Robert Barton -- Executive Vice President and Chief Financial Officer Steve Center -- Vice President of Office Properties Chris Sullivan -- Vice President of Retail Properties Abigail Rex -- Director, Multifamily, San Diego Jerry Gammieri -- Vice President of Construction and Development Craig Richard Schmidt -- BofA Merrill Lynch -- Analyst Richard Hill -- Morgan Stanley -- Analyst Haendel Emmanuel St -- Juste-Mizuho Securities -- Analyst Tamara Jane Fique -- Wells Fargo Securities -- Analyst More AAT analysis All earnings call transcripts {%sfr%} 10 stocks we like better than American Assets Trust When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. American Assets Trust Inc (NYSE: AAT) Q1 2020 Earnings Call Apr 29, 2020, 11:00 a.m. And Torrey point is on track to be 97% leased with a recent expansion of one customer, a pending expansion of another and AAT's move later this year. |
21005.0 | 2020-03-09 00:00:00 UTC | Ex-Dividend Reminder: Ormat Technologies, Medical Properties Trust and American Assets Trust | AAT | https://www.nasdaq.com/articles/ex-dividend-reminder%3A-ormat-technologies-medical-properties-trust-and-american-assets | nan | nan | Looking at the universe of stocks we cover at Dividend Channel, on 3/11/20, Ormat Technologies Inc (Symbol: ORA), Medical Properties Trust Inc (Symbol: MPW), and American Assets Trust Inc (Symbol: AAT) will all trade ex-dividend for their respective upcoming dividends. Ormat Technologies Inc will pay its quarterly dividend of $0.11 on 3/26/20, Medical Properties Trust Inc will pay its quarterly dividend of $0.27 on 4/9/20, and American Assets Trust Inc will pay its quarterly dividend of $0.30 on 3/26/20. As a percentage of ORA's recent stock price of $64.71, this dividend works out to approximately 0.17%, so look for shares of Ormat Technologies Inc to trade 0.17% lower — all else being equal — when ORA shares open for trading on 3/11/20. Similarly, investors should look for MPW to open 1.26% lower in price and for AAT to open 0.76% lower, all else being equal.
Below are dividend history charts for ORA, MPW, and AAT, showing historical dividends prior to the most recent ones declared.
Ormat Technologies Inc (Symbol: ORA):
Medical Properties Trust Inc (Symbol: MPW):
American Assets Trust Inc (Symbol: AAT):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 0.68% for Ormat Technologies Inc, 5.03% for Medical Properties Trust Inc, and 3.05% for American Assets Trust Inc.
In Monday trading, Ormat Technologies Inc shares are currently off about 8.8%, Medical Properties Trust Inc shares are down about 6.7%, and American Assets Trust Inc shares are down about 4.6% on the day.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Looking at the universe of stocks we cover at Dividend Channel, on 3/11/20, Ormat Technologies Inc (Symbol: ORA), Medical Properties Trust Inc (Symbol: MPW), and American Assets Trust Inc (Symbol: AAT) will all trade ex-dividend for their respective upcoming dividends. Similarly, investors should look for MPW to open 1.26% lower in price and for AAT to open 0.76% lower, all else being equal. Below are dividend history charts for ORA, MPW, and AAT, showing historical dividends prior to the most recent ones declared. | Looking at the universe of stocks we cover at Dividend Channel, on 3/11/20, Ormat Technologies Inc (Symbol: ORA), Medical Properties Trust Inc (Symbol: MPW), and American Assets Trust Inc (Symbol: AAT) will all trade ex-dividend for their respective upcoming dividends. Ormat Technologies Inc (Symbol: ORA): Medical Properties Trust Inc (Symbol: MPW): American Assets Trust Inc (Symbol: AAT): In general, dividends are not always predictable, following the ups and downs of company profits over time. Similarly, investors should look for MPW to open 1.26% lower in price and for AAT to open 0.76% lower, all else being equal. | Looking at the universe of stocks we cover at Dividend Channel, on 3/11/20, Ormat Technologies Inc (Symbol: ORA), Medical Properties Trust Inc (Symbol: MPW), and American Assets Trust Inc (Symbol: AAT) will all trade ex-dividend for their respective upcoming dividends. Ormat Technologies Inc (Symbol: ORA): Medical Properties Trust Inc (Symbol: MPW): American Assets Trust Inc (Symbol: AAT): In general, dividends are not always predictable, following the ups and downs of company profits over time. Similarly, investors should look for MPW to open 1.26% lower in price and for AAT to open 0.76% lower, all else being equal. | Looking at the universe of stocks we cover at Dividend Channel, on 3/11/20, Ormat Technologies Inc (Symbol: ORA), Medical Properties Trust Inc (Symbol: MPW), and American Assets Trust Inc (Symbol: AAT) will all trade ex-dividend for their respective upcoming dividends. Similarly, investors should look for MPW to open 1.26% lower in price and for AAT to open 0.76% lower, all else being equal. Below are dividend history charts for ORA, MPW, and AAT, showing historical dividends prior to the most recent ones declared. |
21006.0 | 2020-02-27 00:00:00 UTC | Relative Strength Alert For American Assets Trust | AAT | https://www.nasdaq.com/articles/relative-strength-alert-for-american-assets-trust-2020-02-27 | nan | nan | The DividendRank formula at Dividend Channel ranks a coverage universe of thousands of dividend stocks, according to a proprietary formula designed to identify those stocks that combine two important characteristics — strong fundamentals and a valuation that looks inexpensive. American Assets Trust Inc (Symbol: AAT) presently has an above average rank, in the top 50% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors.
But making American Assets Trust Inc an even more interesting and timely stock to look at, is the fact that in trading on Thursday, shares of AAT entered into oversold territory, changing hands as low as $42.18 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30. In the case of American Assets Trust Inc, the RSI reading has hit 27.3 — by comparison, the universe of dividend stocks covered by Dividend Channel currently has an average RSI of 30.4. A falling stock price — all else being equal — creates a better opportunity for dividend investors to capture a higher yield. Indeed, AAT's recent annualized dividend of 1.2/share (currently paid in quarterly installments) works out to an annual yield of 2.76% based upon the recent $43.55 share price.
A bullish investor could look at AAT's 27.3 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. Among the fundamental datapoints dividend investors should investigate to decide if they are bullish on AAT is its dividend history. In general, dividends are not always predictable; but, looking at the history chart below can help in judging whether the most recent dividend is likely to continue.
Click here to find out what 9 other oversold dividend stocks you need to know about »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A bullish investor could look at AAT's 27.3 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. American Assets Trust Inc (Symbol: AAT) presently has an above average rank, in the top 50% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors. But making American Assets Trust Inc an even more interesting and timely stock to look at, is the fact that in trading on Thursday, shares of AAT entered into oversold territory, changing hands as low as $42.18 per share. | Indeed, AAT's recent annualized dividend of 1.2/share (currently paid in quarterly installments) works out to an annual yield of 2.76% based upon the recent $43.55 share price. American Assets Trust Inc (Symbol: AAT) presently has an above average rank, in the top 50% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors. But making American Assets Trust Inc an even more interesting and timely stock to look at, is the fact that in trading on Thursday, shares of AAT entered into oversold territory, changing hands as low as $42.18 per share. | Among the fundamental datapoints dividend investors should investigate to decide if they are bullish on AAT is its dividend history. American Assets Trust Inc (Symbol: AAT) presently has an above average rank, in the top 50% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors. But making American Assets Trust Inc an even more interesting and timely stock to look at, is the fact that in trading on Thursday, shares of AAT entered into oversold territory, changing hands as low as $42.18 per share. | But making American Assets Trust Inc an even more interesting and timely stock to look at, is the fact that in trading on Thursday, shares of AAT entered into oversold territory, changing hands as low as $42.18 per share. Among the fundamental datapoints dividend investors should investigate to decide if they are bullish on AAT is its dividend history. American Assets Trust Inc (Symbol: AAT) presently has an above average rank, in the top 50% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors. |
21007.0 | 2020-02-12 00:00:00 UTC | American Assets Trust Inc (AAT) Q4 2019 Earnings Call Transcript | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-q4-2019-earnings-call-transcript-2020-02-12 | nan | nan | Image source: The Motley Fool.
American Assets Trust Inc (NYSE: AAT)
Q4 2019 Earnings Call
Feb 12, 2020, 11:00 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Ladies and gentlemen, thank you for standing by, and welcome to the Fourth Quarter and Year End 2019 American Assets Trust, Inc. Earnings Conference Call. At this time, all participant lines are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]
I would now like to hand the conference over to your speaker today, Adam Wyll, EVP, COO. Please go ahead.
Adam Wyll -- Executive Vice President and Chief Operating Officer
Thank you, operator. Good morning, everyone. Welcome to American Assets Trust fourth quarter and year-end 2019earnings call Yesterday afternoon, our earnings release and supplemental information were furnished to the Securities and Exchange Commission on Form 8-K. Both are now available on the Investors section of our website, americanassetstrust.com. A telephonic replay and on-demand webcast will also be available for this call over the next week.
During this call, we will discuss non-GAAP financial measures, which are reconciled to our GAAP financial results in our earnings release and supplemental information. We will also be making forward-looking statements based on our current expectations. These statements are subject to risks and uncertainties discussed in our SEC filings. You are cautioned not to place undue reliance on these forward-looking statements. Actual events could cause our results to differ materially from these forward-looking statements, which we undertake no duty to update.
And with that, I'll turn the call over to Ernest Rady, our Chairman and CEO, to begin the discussion of our fourth quarter and year end 2019 results. Ernest?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Thanks, Adam, and good morning, everybody, and thanks for joining us. As I look back at the past several years and reflect on our financial and operational successes and, in particular, our performance has ranked us among the best-in-class in REITs. I take comfort knowing that maintaining our disciplined strategy was instrumental in our creating shareholder wealth. And I've asked them -- Adam Wyll, who has been with us 15 years and has done a great job and is our recently appointed and well qualified Chief Operating Officer, to provide the four primary elements that have been the key drivers to our disciplined strategy.
I believe that Adam, together with Bob and our top-notch management team, have been crucial to our execution of this strategy. I'll turn the call back over to Adam now and I'll certainly be available for question and answer at the end of our prepared remarks.
Adam, please?
Adam Wyll -- Executive Vice President and Chief Operating Officer
Thanks, Ernest. As Ernest was mentioning, we believe our results have been driven by four key elements. First, having an irreplaceable portfolio of primarily premier coastal West Coast assets and high barrier to entry in-fill markets with strong demographics, innovation, and in the path of growth. Second, having a sensible financial strategy and balance sheet strength with a well-laddered maturity schedule, ample liquidity and a target net debt-to-EBITDA ratio of 5 times or less. Third, having a best-in-class operational platform where we are vertically integrated and with expertise in all facets of real estate investment management and development. And fourth, and perhaps the single most important element of our success is our people. We are fortunate to have a cohesive seasoned executive team with an average industry tenure of almost 30 years and has been working together on average for almost 15 years. Each executive team member has a significant experience and capabilities across the real estate sector in various asset classes.
With that, we are pleased to report for the calendar year ended December 31st, 2019, we have earned approximately a 5% growth in FFO per share over the prior year. And we've impressively increased our FFO per share, dividends per share and EBITDA for our eighth consecutive year each year since we went public in 2011. We believe there is much more success an opportunity to on behalf of all of us at American Assets Trust. We thank you for your confidence in allowing us to manage our company and we look forward to your continued support.
I'll now turn it over to Bob Barton, our Executive Vice President and CFO, to discuss fourth quarter and year-end results, and then to Steve Center, our VP of Office Properties to discuss the positive momentum in our office leasing. Bob?
Robert Barton -- Executive Vice President and Chief Financial Officer
Good morning and thank you, Adam. Last night, we reported fourth quarter 2019 FFO of $0.56 per share and net income attributable to common stockholders of $0.22 per share for the fourth quarter, bringing our year-end 2019 FFO to the low end of our guidance range at $2.20 per FFO share, still a healthy 5% growth in FFO over 2018.
Let's jump right into the fourth quarter highlights. We ended up short of our guidance midpoint by approximately $0.02 of FFO, primarily due to two things: first, multifamily was down approximately $0.015 of FFO for the quarter; and secondly, we had a bad debt expense of approximately $0.005% of FFO per share related to a retail tenant in our household multifamily project, which we were required to reserve two new accounting rules.
Let me give you a little bit more color on the multi-family. We were on track and on budget through Q3 of 2019. Late in Q4 2019, we saw that both our San Diego and Portland multi-family were not performing up to our internal projections. For San Diego, approximately $0.005 of FFO related to lower-than-expected revenues resulting from a lower average occupancy percentage and higher rents rent incentives and approximately another $0.005 related to higher operating expenses.
For Hassalo on Eighth apartments in Portland, Oregon, approximately $0.005 related to lower base rents and higher lease incentives to maintain a consistent occupancy. We took a close look at the fourth quarter multi-family results and depth and tightened our corporate operating model even more conservatively for 2020. And we still believe that we are comfortably within our published 2020 guidance range of $2.38 to $2.46 per FFO share, a 10% growth in FFO at the midpoint.
Turning to our fourth quarter results, FFO decreased approximately $0.01 to $0.56 per FFO per share compared to the third quarter. The fourth quarter results include the following activity. First, La Jolla Commons rental payments received in the fourth quarter increased FFO per share by approximately $0.01 of FFO. Secondly, San Diego and Portland multifamily properties, combination of a decrease in base rent and increase in operating real estate tax expenses, decreased FFO per share by approximately $0.015 of FFO. Thirdly, Hassalo retail tenant write-off, as previously mentioned, decreased FFO per share by approximately $0.005. Fourth, the seasonality of operations at Embassy Suites coupled with the ongoing renovation work decreased FFO per share by approximately $0.01 in the fourth quarter. And finally, interest income earned on excess cash-on-hand and a reduction of the income tax expense increased FFO per share by approximately $0.01 per FFO share.
Now, as we look at our balance sheet and liquidity at the end of the fourth quarter, we had approximately $449 million in liquidity, comprised of approximately $99 million of cash and cash equivalents and $350 million of availability on our line of credit. Our leverage, which we measure in terms of net debt-to-EBITDA, was 5.6 times. Our focus is to maintain our net debt-to-EBITDA at 5.5 times or below.
Lastly, as previously mentioned, we are maintaining our 2020 guidance range of $2.38 to $2.46 per share with a midpoint of $2.42 per FFO share. We're estimating our Q1 2020 FFO per share to be $0.58 per FFO share. Our estimate appears to be $0.01 lower than the curve Bloomberg consensus of $0.59 per FFO share. This is due to a more conservative view in our corporate operating model of the multifamily in Q1 2020 based on Q4 2019 multifamily operating results. But we are still well within our guidance range for 2020. In fact, as Steve will comment on shortly, we have had good leasing successes in our office portfolio in Q4 2019 and into Q1 2020, including the Lloyd District and Portland Oregon and Torrey Reserve Campus and Solana Beach Corporate Center in San Diego, which further strengthens our guidance range.
I will now turn the call over to Steve Center, our Vice President of Office Properties. Steve?
Steve Center -- Vice President of Office Properties
Good morning, and thank you, Bob. We've experienced stronger absorption of rent growth coupled with significant stabilizations through key renewals. Our office portfolio ended the quarter at approximately 95% leased with only 10% of the office portfolio expiring through the end of 2021. On a comparative basis, we increased occupancy by 594 basis points year-over-year. City Center Bellevue is 99% leased, but we continue to expand and extend our existing customers at much higher rates. We've seen rents climb by over 45% in the last two years. Portland has also been very strong for us.
Our Lloyd District office buildings are now 100% leased. We've seen rents increase nearly 20% in the last two years and, similar to the 830 building, we are currently redeveloping the 710 building at Oregon Square, a 33,000 square foot building that will be delivered in early 2021.
In addition, due to increased demand from our existing customers and other tenants that are in the market, we are evaluating additional office buildings on the two remaining blocks at Oregon Square. At first in Maine, we have succeeded in renewing the IRS lease for 64,000 square feet with a rent increase of approximately 20%. We also expect to renew the Veterans Benefits Administration lease for 68,000 feet with a rent increase of approximately 19% by the end of this month. In San Francisco, Landmark is 100% leased to Google on Autodesk. Both customers are making significant investments in their spaces. The market remains very strong, especially for larger blocks of space.
At One Beach, we have intentionally left lower rent leases expire and we are in the process of redeveloping the building, which includes the addition of a 4,000 square foot elevator-served rooftop deck with panoramic views of Alcatraz and the Golden Gate Bridge. The fully renovated approximately 102,000 square foot building will provide an 85,000 square foot contiguous block of space to be delivered in early 2021. We expect net rent increases of approximately 50% once completed. And Bob reminds me that we are still expecting approximately 10% growth in our overall FFO in 2020 despite this building being empty during the renovation period.
Finally, we've made great progress in our San Diego portfolio, which now stands at approximately 92% leased and climbing versus the overall Class A market at 89% leased. Our newest acquisition of La Jolla Commons has been a tremendous success. It was 88% leased on acquisition, 95% leased less than two weeks later with an internally sourced tenant and, as of year-end, it was 99% leased at rates over 10% above our initial underwriting.
Additionally, we expect to break ground on Building 3 in the third or fourth quarter of this year, if not sooner, as we respond to and are optimistic about large block of -- large block RFPs currently in the UTC market. Direct vacancy in Class A buildings in UTC is just 2.9% with significant new demand driven by both life science and technology users. This bodes well not only for our Building 3 at Lloyd Commons but for our 3.3 reserved buildings just north in Del Mar Heights.
We recently signed a 33,000 square foot lease with the publicly traded life science company Torrey Plaza for most of the floor space that AAT occupies. So we will be relocating to Torrey Point later this year. That move coupled with pending tenant expansions will take Torrey Point to approximately 94% leased. At Solana Crossing, our Spec Suite [Phonetic] program has been a great success. The property now stands at 95% leased and should approach 98% if two pending leases are signed.
Operator, I'll now turn the call over to you for questions.
Questions and Answers:
Operator
Thank you. [Operator Instructions] Our first question comes from the line of Craig Schmidt with Bank of America. Your line is now open.
Craig Schmidt -- Bank of America -- Analyst
Thank you. Good morning.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Great. Good morning, Craig.
Craig Schmidt -- Bank of America -- Analyst
Yeah. I wanted to see the -- here a little more about Torrey Point, by year-end 2020, what do you think the lease rate is and what do you think the occupancy is?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
We'll be at 94% as I just said in our comments, and the deals we're doing right now are north of $5 a foot. So we're hitting our targets.
Craig Schmidt -- Bank of America -- Analyst
Okay. But I mean will -- will they be occupying the space or has they just been leased? They will be occupy, OK.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
They'll be occupied, yes.
Craig Schmidt -- Bank of America -- Analyst
Okay. Thank you very much. And then, secondly, do you have a rough estimate or indication on the development redevelopment yields for the retail pipeline?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Craig, we've done some preliminary back of the napkin numbers that we don't -- we're not ready to publish those. I can tell you that they exceed our weighted the average cost of capital and we're pleasantly -- we're -- the numbers that we've seen thus far, we're impressed with, we're just waiting for Jerry Gammieri who heads our construction, and he's going throughout the buyout now. So, we want to get some hard numbers before we publish any firm numbers.
Craig Schmidt -- Bank of America -- Analyst
Okay. Thank you.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Thanks, Craig.
Operator
Thank you. Our next question comes from the line of Haendel St. Juste with Mizuho. Your line is now open.
Haendel St. Juste -- Mizuho -- Analyst
Hey, good morning up there.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Good morning, Haendel.
Robert Barton -- Executive Vice President and Chief Financial Officer
Good morning.
Haendel St. Juste -- Mizuho -- Analyst
So, Ernest, maybe for you. I'm curious on your thoughts with the portfolio here near-term. You previously mentioned growth getting larger as a key initiative. And early last year, you seemed to be inclined to add more multifamily, more recently it's been a lot more enthusiasm in office. But I guess, I'm curious today given the opportunities in front of you, what you're seeing, what you're most excited about, what's perhaps more likely in terms of expanding the portfolio? And then, how would you fund and then start with the multi-part question, but would you be inclined to acquire assets at lower yields, even incurs them upfront dilution, if there was a strong growth story of potentially a strong IRR?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Are you sure you've got the whole question out there Haendel?
Haendel St. Juste -- Mizuho -- Analyst
Covered all the base.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Okay. That's a great question. Awesome. You should have been an attorney. First of all, as far as retail goes, retail doesn't have the same glow that it's had in prior years. We're doing extremely well in retail and we're very happy with the retail we have, but the prices of the retail that are of the quality that we would like have not come to a range that entices us.
As far as office goes and also as far as residential goes, residential is priced for perfection. And we have some issues, as recounted earlier by Bob, in our own portfolio. Number one, Portland is not as strong as we'd like, and we've got some repositioning to do in our San Diego portfolio, which we are working on and which is affecting our results. But we think these results will eventually be satisfactory, if not more than satisfactory. We've had very good fortune, thanks to Steve and his team, in acquiring office that has been either under managed and/or is in the position -- in the path of growth. And so, we continue to look at those opportunities, and we've made several bids in that regard, and we've been out there.
And then, how we would finance it? I'll take you through when we get there, but I'll tell you one thing, Haendel, it will not be in the backs of our existing stockholders, it will be accretive or we won't consider it. No, we love our existing stockholders, some of whom are family. And we wouldn't -- we wouldn't want to hurt their wellbeing. So that's a great question. And thank God, I could remember all the questions. It was really comprehensive. Thank you, Haendel, for your interest.
Haendel St. Juste -- Mizuho -- Analyst
Thanks, Ernest. And one more, if I could. Maybe on Portland specifically, obviously the multifamily. There has been a bit challenge. I think supply continues to be part of the challenge. I'm curious if you are more inclined to maybe lighten up there. And then, maybe on the office development that you're considering starting the two that you mentioned, what type of pre-leasing levels would you require before you start and what type of yields should we be thinking about? Thank you.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
As far as the Portland Hassalo, we would not consider selling it. First of all, the placement for us is probably 25% to 35% more than our cost. Second of all, that off -- that -- those apartments have created a presence for us in that community that has resulted in our office being very successful. As our office continue to be successful, it's likely that the apartments will become more successful. So, to get off the train now would be a major mistake.
As far as preleasing goes on the two projects you've asked about, San Diego is not a preleasing market. If I was going to be a tenant in say La Jolla Commons, and we hadn't broken ground. And I had a lease with another building and I signed the lease with us, and for some reason or other, we didn't start construction. That would be something that would be difficult to explain. So, we've got to break it down and then we'll hope to be preleasing, San Diego is not a preleasing market. It's common knowledge how tight the San Francisco market is for blocks of space. We are not in a position yet to even offer an adequate rendering of what we have coming up. What we think we have coming up is going to be elegant, and we'll work on preleasing, but we won't prelease at the expense of rental rate.
Haendel St. Juste -- Mizuho -- Analyst
Got it. Got it. And can I clarify one thing.The comments earlier on Torrey Point, appreciated that, are those embedded in the current guide for 2020 or should we be thinking of that as potential upside to 2020 and maybe even 2021? Thank you.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
No, the results that Steve was talking about and where he sees it going is better than our guidance for 2020.
Haendel St. Juste -- Mizuho -- Analyst
Got it.
Steve Center -- Vice President of Office Properties
Yeah. Just as a matter of curiosity, we're moving here to Torrey Point because our space got leased here, and we're occupying less space over there. So it's an economic move for us and an economic move for the company. It will be more efficient at lower cost in less space. So it's a win-win.
Haendel St. Juste -- Mizuho -- Analyst
Okay. Thank you.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Thank you, Haendel. Very good questions. And if you need a reference to become an attorney, I'm willing to be your reference.
Haendel St. Juste -- Mizuho -- Analyst
Thank you.
Operator
Thank you. Our next question comes from the line of Michael Carroll with RBC Capital Markets. Your line is now open.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Hey, Mike.
Robert Barton -- Executive Vice President and Chief Financial Officer
Hello, Mike.
Michael Carroll -- RBC Capital Markets -- Analyst
Hey. And Bob, can you talk a little bit about your multifamily portfolio? I guess what specifically drove the weakness versus your expectations in Portland and San Diego? Was it supply or was is something else?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Maybe I'll take that.
Robert Barton -- Executive Vice President and Chief Financial Officer
You want to take that?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
This is for San Diego. In San Diego, the fourth quarter is usually a weak leasing market. And in one project in particular, we are in the process of repositioning, and it's a major repositioning, it's a great location but the buildings are old and we've got to update it. Second of all, my mistake in that management was overloaded with all the make requires we've now separated those two. And I think that going forward at least a year from now you'll be willing to be results. In the meantime we are focused on doing the best we can and I think you'll be pleased.
Robert Barton -- Executive Vice President and Chief Financial Officer
Mike, let me -- let me add to that. From two perspectives, one on a same-store basis, we were down 6% quarter -- year-over-year in the fourth quarter. That was primarily due to increase of rental expenses and increase of real estate taxes. So, the question that comes up is, what about Prop 13? Doesn't that limit to that? Well, there is a bond measure that was passed earlier this year that we got the bill with late in the fourth quarter. And so that's why we had a 10% increase in real estate taxes this year versus the cap under Prop 13 which is generally 10%.
And then, when you look at the budget versus actual, where we fell short was of approximately $0.015 in the multifamily was in San Diego. Again, the operating expenses but we also had a softening of the rent compared to our expectation in the fourth quarter. And then, in Portland, we had more lease incentives which reduced the revenue coming in and it does less, we had more lease incentives trying to maintain a consistent occupancy in Portland so that's, that's really the answer to your question.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
So, these are great properties and they can and will do better, and we are focused on it and you will be pleased, I sincerely hope.
Michael Carroll -- RBC Capital Markets -- Analyst
Okay. And then, the bonds that increase taxes, is that a reoccurring thing? Should we expect that to occur in 2022?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Yes. Yeah. That's -- yes, that was passed in, I think, late in 2019 -- mid-to-late 2019 and we're expecting that going forward. But our guidance that we issued allows for any differences like that. There's a leeway in there within that range. So we're very comfortable with the current guidance.
Michael Carroll -- RBC Capital Markets -- Analyst
Okay.
Robert Barton -- Executive Vice President and Chief Financial Officer
There's [Indecipherable] that there's no way we're going to overestimate the results. And if anything, we're going to try and under-promise and over-deliver as we have over the last six years, which have resulted in consistent growth. Is that a fair statement?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
You must be an attorney.
Michael Carroll -- RBC Capital Markets -- Analyst
Haendel and I.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Yeah. No, that's true. The last thing we want to do, our credibility is so important. And so, the last thing we want to do is over promise. And so, when we miss something like that, that really bothers us and we want to understand why, what the impact is going forward. So, we're very comfortable with the 2020 guidance where it is.
Michael Carroll -- RBC Capital Markets -- Analyst
Okay. And is there needs to make changes to the same-store guidance provided last quarter, I know the multifamily guide right now is 3.5% growth. I mean, should we expect it to be larger than that?
Robert Barton -- Executive Vice President and Chief Financial Officer
No. I think we're OK for now on that. I mean -- our -- internally the multifamily expectation was even higher than that. And in our, our guidance we brought it down to 3.5%. So, I think we refine where it is right now, we'll see a little bit of drop in Q1 and then we expect to see the pickup and for the year we should end up at 3.5%, from where I'm sitting today.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
We're going to work hard to over-deliver. And on the other hand, in one major project in San Diego, there is a major repositioning going on, which will improve the value of the property and it started with the with the sewer and the roofs and the painting and the landscaping, and that's something that we ought to do in the short run that may not -- the outcome may not be as pleasant, but in the long run the giant winner, that's fine.
Michael Carroll -- RBC Capital Markets -- Analyst
And then last one for me, can you talk about -- maybe Steve -- about the One Beach renovation. I guess what's the expected budget of that project? And is there another tenant in that building and can you commence the construction of that until that tenant moves out?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
There is a tenant on the third floor and we're going to do construction around them. So we're set up to do that. In terms of the scope, I think the budget's around.
Robert Barton -- Executive Vice President and Chief Financial Officer
I think probably [Indecipherable]
Michael Carroll -- RBC Capital Markets -- Analyst
Yeah. Okay. Fair enough.
Robert Barton -- Executive Vice President and Chief Financial Officer
...until we know. I don't -- we haven't got...
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Fully buyout, yeah.
Michael Carroll -- RBC Capital Markets -- Analyst
It isn't bought out and we don't even have a building permit.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Right.
Robert Barton -- Executive Vice President and Chief Financial Officer
Yeah. We do not have a building permit yet at this point. We're in the city for permitting and we're not even out on the street yet fully tendering cost. We've got some preliminary costs but we're not.
Steve Center -- Vice President of Office Properties
That was Jerry Gammieri, who's responsible for the construction, and as you know San Francisco may take its time deliveries for a building permit. But in the end, it'll all be worthwhile and unfortunately the market is strong enough to absorb all the difficulties that municipalities puts in our way.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Well, we -- actually -- we actually have numbers included in our operating capex for 2020. So I mean, we factored in approximately $22 million for operating CapEx for the building. On top of that you have some TIs leasing commissions, but that's all in the guidance that we provided in Q3 2019. So that is not bought out yet.
Robert Barton -- Executive Vice President and Chief Financial Officer
No, it's not.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
You have to close to your best estimate...
Robert Barton -- Executive Vice President and Chief Financial Officer
That's right.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
...and hopefully conservative.
Robert Barton -- Executive Vice President and Chief Financial Officer
That's right.
Michael Carroll -- RBC Capital Markets -- Analyst
Okay, great. Thank you.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Thanks, Mike.
Operator
Thank you. Our next question comes from the line of Rich Hill with Morgan Stanley. Your line is now open.
Richard Hill -- Morgan Stanley -- Analyst
Hey. Good morning, guys. Just want to make sure I understand your expectations for same-store NOI in 2020. I believe on the call last quarter you did provide some guidance. Are you maintaining your multifamily views or should we think about that coming down a little bit?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
No, we are currently maintaining our multifamily views as well, along with all the other sectors that we provided in our Q3 guidance.
Richard Hill -- Morgan Stanley -- Analyst
Got it.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
If that changes, we will let you know.
Steve Center -- Vice President of Office Properties
And I'd like to add, the advantage of been diversified, is there are some upside in the multifamily and there are some downside, there's also upside in retail and downside and upside and opposite downside. The portfolio as a whole, I believe, will perform as Bob has projected and we hope it to the over-deliver rather than under-promise or whatever will still be good [Phonetic].
Chris Sullivan -- Vice President of Retail Properties
Got it. So, on the bad debt on the retail space, could you give us any idea just that rent is above or below market?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Chris, you want to...
Chris Sullivan -- Vice President of Retail Properties
It's Chris Sullivan. That's our grocer there, so their rent is about market, they're just going through some struggles, I think they'll through it. It kind of comes down to an issue of body counts from the Lloyd Center, weather patterns, and it's the grocery business. So it's a bit of a struggle there. But I think they'll get through it. But to answer that question, there are rents at above market. It's an important amenity for that project. And so, we're -- we would have to say nursing them along. And as that area -- as that Lloyd District becomes more mature, they will have a business. They have a business, we'll have rent. In the meantime, the important that we keep them there as an amenity for the people -- for the folks in the area.
Richard Hill -- Morgan Stanley -- Analyst
Got it. And Ernest, you've alluded to this a few different times. But look, you have a high quality portfolio, but it's small. And there is volatility from quarter-to-quarter. But as you think about speaking to investors and the sell-side analyst community, is it right just to sort of think about your company, particularly with the leasing velocity that you have going on about where this is going, not quarter-to-quarter, but maybe over the next 12 to 24 months?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
What was the question again? Over the next 24 months, if we're fortunate, we'll have another La Jolla Commons in our portfolio, and we will not be small as we are today. Hopefully we'll be able to grow and have a more diversified and growing portfolio. And that's the strategy that we're pursuing, and we hope we're successful at it, if not the existing portfolio will continue to produce results that have built wealth for the stockholders over the last eight years since we went public.
Richard Hill -- Morgan Stanley -- Analyst
Got it. Thank you, guys. That's it for me.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Thank you.
Robert Barton -- Executive Vice President and Chief Financial Officer
Thank you, Rich.
Operator
Thank you. Our next question comes from the line of Daniel Ismail with Green Street Advisors. Your line is now open.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Good morning, Danny.
Daniel Ismail -- Green Street Advisors -- Analyst
Hi, everyone. Good morning. Across your office portfolio, can you maybe discuss the trends in constructions across your markets, and expectations for the leasing economics in 2020?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
The economics continue to improve. San Francisco is very strong, we're bullish there. Bellevue is right behind it in terms of the direct growth even though we are 99% leased, we continue to find the opportunities to expand and raise rents -- expand our existing customers and raise rents. Portland has been a pleasant surprise. It's performing really well and we're out of space and we have growing customers. So, we're bullish there, and then San Diego has really turned the corner as well. Vacancy is coming in and we're seeing life science and tech users being forced out of Torrey Pines and UTC to the benefit of Del Mar Heights. And so, our Torrey Reserve and Solana Beach properties are doing really, really well. So, it's just getting better.
Daniel Ismail -- Green Street Advisors -- Analyst
And then I guess just two big picture questions. Ernest, you mentioned not wanting to do any financing on the backs of shareholders and not to be too lawyerry [Phonetic] that's the word. But I was just hoping if you can clarify whether or not you went accretive via FFO or NAV or just maybe a bit of point of clarification there?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Our focus is always on building wealth. So what we would like to do if possible is to acquire something that would be accretive. And that's what I mean by not on the backs of this. We're not going to get big by taking the value that our existing stockholders have and diluting it to make an acquisition just for the sake of being larger. We would like to be larger. We would also like to be accretive, and that's what we're shooting for over the next. Bob is chomping it a bit.
Robert Barton -- Executive Vice President and Chief Financial Officer
No. Hey, Danny. From a financial perspective, both earnings growth and NAV growth is important to us and to the shareholders. So when we -- from an acquisition standpoint, we'll look at it from an earnings growth perspective, from debt metrics to make sure we maintain a low balance sheet leverage. And then also from an NAV perspective, we look at the average of our research analysts NAV, we look at -- we also have a higher bar internally that we publish each year that we measure against. And so, from an earnings perspective, we want to make sure that FFO is delivering in excess of 6% on a cap rate basis and growing.
From an unlevered IRR basis, you want to make sure we're over 6% for the Class A plus properties that we're looking at. And when we look at development from a financial perspective, the rule of thumb has historically been obviously get as much as you can, but you take a look at your weighted average cost of capital, which ours has been, let's say, 19%, and now it's somewhere between 4.8% and 5%. And you want to add at least 200 basis points to that. So you're up about 7%.
We would hope -- we would be hopeful to get somewhere between a range of 6.5% to 8% return on cost on that development. So, we want to -- we -- the earnings growth and the wealth creation, which is represented by the NAV growth. To the extent that we dip in the NAV growth on a short-term, we want to make sure that we recoup that NAV dilution short-term within a three-year period, and then start growing and creating wealth for our shareholders.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
I'm sure that convinced you that with all the metrics we have to overcome that Bob places in our path, that whatever we acquire will be valuable to the stockholders going forward.
Daniel Ismail -- Green Street Advisors -- Analyst
No, that's helpful. Thanks. And just one last one. I know we chatted about this before, but can you give any updated thoughts on what role Proposition 13 about initiative and any potential impact to your California office portfolio?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
The answer we always say is that I think to a certain extent, and maybe to a great extent, visas protect us from the short-term aberration of Proposition 13. And if Proposition 13 were to pass, it may decrease values. And that would give us an opportunity to make some additional acquisitions. So the way I put it as if chips go in the air, our job is to catch a few [Technical Issue] on the way down.
Robert Barton -- Executive Vice President and Chief Financial Officer
We've -- Dave, we've actually gone through our portfolio and looked at the increase in our retail and in our office. And again, in the first year, we don't think there's an impact because the majority, if not all, of our leases pass that onto the tenant. I think the real issue is, is long-term in terms of what your NAV. And for that reason, what we're doing is that when we look at an acquisition because it's a 50:50 chance over the next seven years, whether or not something like that passes, we're adding on our terminal or reversionary cap rate when we underwrite, we're adding another 20 basis points to that to address that NAV or valuation issue on the front end.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
And of course, what we see in the marketplace is the properties are trading very well. The prices are frankly somewhat astonishing. So, that leads me to wonder what our properties would be worth if they were on the market, and it's certainly in my opinion not reflected in the price of the stock at current levels.
Daniel Ismail -- Green Street Advisors -- Analyst
Right. That's helpful. Thanks, everyone.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Thank you, Danny.
Operator
Thank you. Our next question comes from the line of Todd Thomas with KeyBanc Capital Markets. Your line is now open.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Hi, Todd.
Todd Thomas -- KeyBanc Capital Markets -- Analyst
Hi. Thanks. Good morning. First question, in terms of the guidance, it sounds like the office leasing is driving incremental growth beyond what you previously anticipated, and the office leasing in the quarter was strong, it was almost $0.02 a share of FFO. Can you help us understand where that leasing slots into the 2020 bridge that you previously had provided? And Bob, you talked a little bit about the move and the lease at Torrey Point. Can you quantify that upside in 2020 and 2021?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Yeah, I can't quantify that right now, I don't have the numbers in front of me. But Steve, you want to talk anymore about that?
Steve Center -- Vice President of Office Properties
In terms of the performance of Torrey Point, I'd focus on that the two expanding tenants and the leases that we've got. Aside from ours, we're doing a market deal the leases that we're expanding are actually higher than the rent that we've got projected for ourselves. So, it's a good outcome at Torrey Point. We've got great customers there, growing customers obviously and it's a really good outcome.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
It took us a while to get there, but once we got there the waiting was worthwhile and construction was worthwhile, and we're glad to have it we have, and we're going to be living there as a matter of fact. So we're looking forward to living with it.
Robert Barton -- Executive Vice President and Chief Financial Officer
Yeah, Todd, in terms of our guidance that we issued for same-store office in Q3, I think we have 14% increase in same-store office cash NOI. So, I mean, we're comfortable I don't have all the leasing success is factored into that, but we're confident of the range that we have out there.
Todd Thomas -- KeyBanc Capital Markets -- Analyst
Got it. The -- there was -- there were $0.14 of FFO growth, though attributable to four specific office assets. Again, it sounds like some of the leasing or some of the leasing that you're expecting to materialize here could push that a little bit higher. Is that fair?
Robert Barton -- Executive Vice President and Chief Financial Officer
That's fair. I'm hopeful.
Todd Thomas -- KeyBanc Capital Markets -- Analyst
Okay.
Robert Barton -- Executive Vice President and Chief Financial Officer
Please don't count on it. We've had the experience of delivering $0.02 and we don't want to make that mistake again. So please don't put that in your numbers. Let's have a pleasant surprise.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Yeah. Don't push up the Bloomberg number.
Todd Thomas -- KeyBanc Capital Markets -- Analyst
Got it. And then, back to investments. Ernest, you're talking about trying to find another La Jolla Commons, but you had previously talked about doubling the size of the portfolio over a number of years. I'm just curious if you could step back maybe and talk about some of the acquisition opportunities that you're seeing more broadly out there.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Sure. We've looked at at least two significant investment opportunities. And the metrics that Bob laid out, we couldn't meet them. So, we got outbid. And so, we have to find something that where we have the good fortune to acquire that meets the metrics Bob outlined. And there are opportunities out there, and there's lots of money out there. So, just have to keep looking, and eventually we'll find some, if not the portfolio will continue to produce returns which will I think will be more than adequate but we'd like to be quite a bit more than adequate.
Todd Thomas -- KeyBanc Capital Markets -- Analyst
And in terms of some of the markets you're in today, when you look at the geographic opportunities, I'd say, that you're sort of focused on, where do you think you're likely to see the most attractive opportunities potentially surface?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Well, we've looked at all the markets that we're in, and we've made a couple of bids in two of the markets. And so, I can't tell you what's going to happen in the future other than we do see the opportunities that come up, because we are a factor in each of those marketplaces. And we'll continue to look at the opportunities, and hopefully be fortunate to get one that makes sense for our existing stockholders.
Todd Thomas -- KeyBanc Capital Markets -- Analyst
Okay. And just last question for me. I was just curious if you could comment on bookings at the Embassy Suites Hotel. Have you seen any impact at all from travel bans or reduced tourism and travels, are anything changing there at all to Waikiki Beach Walker, anything along those lines?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
As it relates to any impact from China or the coronavirus, we haven't heard of that or seen that. We just talked with Simien, who's our general manager and does an outstanding job at the Embassy Suites for us. So, we have 40% of our customers come from Asia and the majority of that's really Japan. And I would say that less than 1% comes from China. And that's really like the one-off, it's not wholesale. But there has not been -- we have not had any visitors or customers from China recently. And it's interesting to know, Simien was sharing with me earlier this week that there are -- there are only 10 airports that have -- in the US that have this infrared or scanning device that can see your temperature and one of them is in Honolulu Airport.
And so, what they'll do is, they'll stop you quarantine if you go through that. But we haven't seen any impact from that. We are -- and the impact last year wasn't as severe as we thought on the Embassy Suite from the spalling and painting. We do have the refresh going on in April and May, I believe, and we hope to be all wrapped up with this spalling, painting and refresh project at the Embassy Suites by the end of June. That's our goal.
So, we've -- of the two towers that are there, the front one called the Hula tower which is the closest to the Ocean is completely done on the spalling and painting. That tower closest to the mountains is about three-fourths of the way completed. And so, I think we're on our way in close to that. We won't see what the impacts is till we get to April or May, but we're very hopeful on that.
Todd Thomas -- KeyBanc Capital Markets -- Analyst
Is it safe to say Bob in your opinion the worst is over, and that we're approaching the finish line and the furniture is either shipped or being shipped? And this is all completed and the refurbishing is done, and the painting is done, the spalling is done, we're going to have the number one performing Embassy Suites in the world on a continuing basis?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
I love these lawyers. Yes, that's true. I mean, these are such -- I mean, think about that, there's only two hotels in Waikiki that are on fee, and this is one of them. And it is in such a sweet spot. Anybody that's at the Hilton Hawaiian Village walks through Waikiki Beach Walk, which is where our retail is, and is the podium for the hotel. You got the Trump Tower right next door, people walk, come through that. This is main and main. It's an asset that will continue to grow and continue to enhance wealth.
Robert Barton -- Executive Vice President and Chief Financial Officer
Thanks, Todd.
Todd Thomas -- KeyBanc Capital Markets -- Analyst
Okay, great. Thank you.
Operator
Thank you. This concludes today's question-and-answer session. I would now like to turn the call over to Ernest Rady for closing remarks.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Again, we've -- a pulse of choice for the $0.02 differential, but it doesn't affect the overall value of our multi-billion-dollar property. And I hope investors look at this not in the short run and what happened over this last quarter, but the performance that we've had over the last eight years where we've earned our stockholders a return of 12% to 13%, and we hope to continue that trend and we hope to continue to earn the confidence of all our stockholders.
And again, thank you for your interest and we look forward to chatting with you next quarter.
Operator
[Operator Closing Remarks]
Duration: 46 minutes
Call participants:
Adam Wyll -- Executive Vice President and Chief Operating Officer
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Robert Barton -- Executive Vice President and Chief Financial Officer
Steve Center -- Vice President of Office Properties
Chris Sullivan -- Vice President of Retail Properties
Craig Schmidt -- Bank of America -- Analyst
Haendel St. Juste -- Mizuho -- Analyst
Michael Carroll -- RBC Capital Markets -- Analyst
Richard Hill -- Morgan Stanley -- Analyst
Daniel Ismail -- Green Street Advisors -- Analyst
Todd Thomas -- KeyBanc Capital Markets -- Analyst
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | American Assets Trust Inc (NYSE: AAT) Q4 2019 Earnings Call Feb 12, 2020, 11:00 a.m. We recently signed a 33,000 square foot lease with the publicly traded life science company Torrey Plaza for most of the floor space that AAT occupies. Operator [Operator Closing Remarks] Duration: 46 minutes Call participants: Adam Wyll -- Executive Vice President and Chief Operating Officer Ernest S. Rady -- Chairman, President and Chief Executive Officer Robert Barton -- Executive Vice President and Chief Financial Officer Steve Center -- Vice President of Office Properties Chris Sullivan -- Vice President of Retail Properties Craig Schmidt -- Bank of America -- Analyst Haendel St. Juste -- Mizuho -- Analyst Michael Carroll -- RBC Capital Markets -- Analyst Richard Hill -- Morgan Stanley -- Analyst Daniel Ismail -- Green Street Advisors -- Analyst Todd Thomas -- KeyBanc Capital Markets -- Analyst More AAT analysis All earnings call transcripts 10 stocks we like better than American Assets Trust When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. | Operator [Operator Closing Remarks] Duration: 46 minutes Call participants: Adam Wyll -- Executive Vice President and Chief Operating Officer Ernest S. Rady -- Chairman, President and Chief Executive Officer Robert Barton -- Executive Vice President and Chief Financial Officer Steve Center -- Vice President of Office Properties Chris Sullivan -- Vice President of Retail Properties Craig Schmidt -- Bank of America -- Analyst Haendel St. Juste -- Mizuho -- Analyst Michael Carroll -- RBC Capital Markets -- Analyst Richard Hill -- Morgan Stanley -- Analyst Daniel Ismail -- Green Street Advisors -- Analyst Todd Thomas -- KeyBanc Capital Markets -- Analyst More AAT analysis All earnings call transcripts 10 stocks we like better than American Assets Trust When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. American Assets Trust Inc (NYSE: AAT) Q4 2019 Earnings Call Feb 12, 2020, 11:00 a.m. We recently signed a 33,000 square foot lease with the publicly traded life science company Torrey Plaza for most of the floor space that AAT occupies. | Operator [Operator Closing Remarks] Duration: 46 minutes Call participants: Adam Wyll -- Executive Vice President and Chief Operating Officer Ernest S. Rady -- Chairman, President and Chief Executive Officer Robert Barton -- Executive Vice President and Chief Financial Officer Steve Center -- Vice President of Office Properties Chris Sullivan -- Vice President of Retail Properties Craig Schmidt -- Bank of America -- Analyst Haendel St. Juste -- Mizuho -- Analyst Michael Carroll -- RBC Capital Markets -- Analyst Richard Hill -- Morgan Stanley -- Analyst Daniel Ismail -- Green Street Advisors -- Analyst Todd Thomas -- KeyBanc Capital Markets -- Analyst More AAT analysis All earnings call transcripts 10 stocks we like better than American Assets Trust When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. American Assets Trust Inc (NYSE: AAT) Q4 2019 Earnings Call Feb 12, 2020, 11:00 a.m. We recently signed a 33,000 square foot lease with the publicly traded life science company Torrey Plaza for most of the floor space that AAT occupies. | Operator [Operator Closing Remarks] Duration: 46 minutes Call participants: Adam Wyll -- Executive Vice President and Chief Operating Officer Ernest S. Rady -- Chairman, President and Chief Executive Officer Robert Barton -- Executive Vice President and Chief Financial Officer Steve Center -- Vice President of Office Properties Chris Sullivan -- Vice President of Retail Properties Craig Schmidt -- Bank of America -- Analyst Haendel St. Juste -- Mizuho -- Analyst Michael Carroll -- RBC Capital Markets -- Analyst Richard Hill -- Morgan Stanley -- Analyst Daniel Ismail -- Green Street Advisors -- Analyst Todd Thomas -- KeyBanc Capital Markets -- Analyst More AAT analysis All earnings call transcripts 10 stocks we like better than American Assets Trust When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. American Assets Trust Inc (NYSE: AAT) Q4 2019 Earnings Call Feb 12, 2020, 11:00 a.m. We recently signed a 33,000 square foot lease with the publicly traded life science company Torrey Plaza for most of the floor space that AAT occupies. |
21008.0 | 2020-01-30 00:00:00 UTC | AAT Makes Notable Cross Below Critical Moving Average | AAT | https://www.nasdaq.com/articles/aat-makes-notable-cross-below-critical-moving-average-2020-01-30 | nan | nan | In trading on Thursday, shares of American Assets Trust Inc (Symbol: AAT) crossed below their 200 day moving average of $46.55, changing hands as low as $46.37 per share. American Assets Trust Inc shares are currently trading off about 1.1% on the day. The chart below shows the one year performance of AAT shares, versus its 200 day moving average:
Looking at the chart above, AAT's low point in its 52 week range is $41.865 per share, with $49.26 as the 52 week high point — that compares with a last trade of $46.54.
Click here to find out which 9 other dividend stocks recently crossed below their 200 day moving average »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Thursday, shares of American Assets Trust Inc (Symbol: AAT) crossed below their 200 day moving average of $46.55, changing hands as low as $46.37 per share. The chart below shows the one year performance of AAT shares, versus its 200 day moving average: Looking at the chart above, AAT's low point in its 52 week range is $41.865 per share, with $49.26 as the 52 week high point — that compares with a last trade of $46.54. Click here to find out which 9 other dividend stocks recently crossed below their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Thursday, shares of American Assets Trust Inc (Symbol: AAT) crossed below their 200 day moving average of $46.55, changing hands as low as $46.37 per share. The chart below shows the one year performance of AAT shares, versus its 200 day moving average: Looking at the chart above, AAT's low point in its 52 week range is $41.865 per share, with $49.26 as the 52 week high point — that compares with a last trade of $46.54. Click here to find out which 9 other dividend stocks recently crossed below their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Thursday, shares of American Assets Trust Inc (Symbol: AAT) crossed below their 200 day moving average of $46.55, changing hands as low as $46.37 per share. The chart below shows the one year performance of AAT shares, versus its 200 day moving average: Looking at the chart above, AAT's low point in its 52 week range is $41.865 per share, with $49.26 as the 52 week high point — that compares with a last trade of $46.54. Click here to find out which 9 other dividend stocks recently crossed below their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Thursday, shares of American Assets Trust Inc (Symbol: AAT) crossed below their 200 day moving average of $46.55, changing hands as low as $46.37 per share. The chart below shows the one year performance of AAT shares, versus its 200 day moving average: Looking at the chart above, AAT's low point in its 52 week range is $41.865 per share, with $49.26 as the 52 week high point — that compares with a last trade of $46.54. American Assets Trust Inc shares are currently trading off about 1.1% on the day. |
21009.0 | 2019-11-21 00:00:00 UTC | AAT Crosses Below Key Moving Average Level | AAT | https://www.nasdaq.com/articles/aat-crosses-below-key-moving-average-level-2019-11-21 | nan | nan | In trading on Thursday, shares of American Assets Trust Inc (Symbol: AAT) crossed below their 200 day moving average of $46.28, changing hands as low as $46.05 per share. American Assets Trust Inc shares are currently trading down about 1.3% on the day. The chart below shows the one year performance of AAT shares, versus its 200 day moving average:
Looking at the chart above, AAT's low point in its 52 week range is $38.15 per share, with $49.26 as the 52 week high point — that compares with a last trade of $46.14.
Click here to find out which 9 other dividend stocks recently crossed below their 200 day moving average »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Thursday, shares of American Assets Trust Inc (Symbol: AAT) crossed below their 200 day moving average of $46.28, changing hands as low as $46.05 per share. The chart below shows the one year performance of AAT shares, versus its 200 day moving average: Looking at the chart above, AAT's low point in its 52 week range is $38.15 per share, with $49.26 as the 52 week high point — that compares with a last trade of $46.14. Click here to find out which 9 other dividend stocks recently crossed below their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Thursday, shares of American Assets Trust Inc (Symbol: AAT) crossed below their 200 day moving average of $46.28, changing hands as low as $46.05 per share. The chart below shows the one year performance of AAT shares, versus its 200 day moving average: Looking at the chart above, AAT's low point in its 52 week range is $38.15 per share, with $49.26 as the 52 week high point — that compares with a last trade of $46.14. Click here to find out which 9 other dividend stocks recently crossed below their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Thursday, shares of American Assets Trust Inc (Symbol: AAT) crossed below their 200 day moving average of $46.28, changing hands as low as $46.05 per share. The chart below shows the one year performance of AAT shares, versus its 200 day moving average: Looking at the chart above, AAT's low point in its 52 week range is $38.15 per share, with $49.26 as the 52 week high point — that compares with a last trade of $46.14. Click here to find out which 9 other dividend stocks recently crossed below their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Thursday, shares of American Assets Trust Inc (Symbol: AAT) crossed below their 200 day moving average of $46.28, changing hands as low as $46.05 per share. The chart below shows the one year performance of AAT shares, versus its 200 day moving average: Looking at the chart above, AAT's low point in its 52 week range is $38.15 per share, with $49.26 as the 52 week high point — that compares with a last trade of $46.14. American Assets Trust Inc shares are currently trading down about 1.3% on the day. |
21010.0 | 2019-10-30 00:00:00 UTC | American Assets Trust Inc (AAT) Q3 2019 Earnings Call Transcript | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-q3-2019-earnings-call-transcript-2019-10-30 | nan | nan | Image source: The Motley Fool.
American Assets Trust Inc (NYSE: AAT)
Q3 2019 Earnings Call
Oct 30, 2019, 11:00 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Ladies and gentlemen, thank you for standing by and welcome to the Q3 2019 American Assets Trust, Inc. Earnings Conference Call. [Operator Instructions].
I would now like to hand the conference over to your speaker today, Mr Adam Wyll. Thank you. Please go ahead.
Adam Wyll -- Executive Vice President and Chief Operating Officer
Thank you. Good morning, everyone. Welcome to American Assets Trust Third Quarter 2019 Earnings Call. Yesterday afternoon. Our earnings release and supplemental information were filed on a Form 8-K with the Securities and Exchange Commission. Both are now available on the Investors section of our website, americanassetstrust.com. An audio webcast of this call will also be available for replay by phone over the next week, as well as on the Investors section of our website.
During this call, we will discuss non-GAAP financial measures, which are reconciled to our GAAP financial results in our earnings release and supplemental information. We will also be making forward-looking statements based on our current expectations. These statements are subject to risks and uncertainties discussed in our SEC filings. You are cautioned not to place undue reliance on these forward-looking statements. Actual events could cause our results to differ materially from these forward-looking statements, which we undertake no duty to update.
And with that, I'll turn the call over to Ernest Rady to begin the discussion of our third quarter results. Ernest?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Thank you. Good morning everyone and thank you all for joining American Assets Trust third quarter 2019earnings call We are making great progress on all fronts, as we continue to focus our efforts on earnings growth, combined with growth in net asset value for our shareholders. The company's Board of Directors has declared a dividend on its common stock of $0.30 per share for the quarterly period ending December 31, 2019, which is a $0.02 per share increase and an approximately 7% increase over the prior quarterly dividend. The dividend will be paid on December 26, 2019 to stockholders of record on December 12, 2019. And we are all delighted to share financially some of the success that we've enjoyed over the last years.
I am also pleased to announce that the board has named Adam Wyll as our Executive Vice President and Chief Operating Officer. Adam is and has been a valuable member of our management team, and this title better describes the breadth of responsibility he has successfully taken on, and will continue to manage since our IPO, as well as the confidence our Board has in him. And there is no change in reporting function, and he has been a very important part of our management team, and we appreciate what he has done and we look forward to working with them in the future. We are fortunate to have such a great management team and a group of employees of 80, all of whom work together as we continue as a best-in-class real estate investment trust.
I'm going to keep my introductory comments short, since Bob is going to introduce our 2020 guidance, which will focus on the growth and resilient strength of our high quality coastal West Coast high barrier to entry [Indecipherable]. Again, on behalf of all of us at American Trust, we thank you for your confidence in allowing us to manage your company, and we look forward to your continued support.
I will now turn it over to Bob Barton, our Executive Vice President and CFO. Okay Bob, take it from here.
Robert Barton -- Executive Vice President and Chief Financial Officer
Good morning and thank you, Ernest. Last night we reported third quarter 2019 FFO of $0.57 per share and net income attributable to common stockholders of $0.22 per share for the third quarter. Third quarter results are primarily comprised of the following; first, actual FFO increased in the third quarter by approximately 27% or 11.7% on an FFO per share basis to $0.57 per FFO share compared to the second quarter of 2019, primarily from the following five items.
First, the acquisition of La Jolla Commons on June 20 added approximately $0.085 of FFO per share. Second, the Embassy Suites and Waikiki Beach added approximately $0.014 of FFO per share, due to the seasonality over the summer months. Third, The Landmark at One Market in San Francisco, added approximately $0.037 of FFO per share, resulting from the lease commencement on July 1st of the remaining five of the seven floors now occupied by Google under their lease agreement that was entered into in Q4, 2018.
Fourth, an equal increase in both G&A and interest expense reduced FFO by approximately $0.015 per FFO share. And fifth, a decrease of approximately $0.06 of FFO per share, as a result of the increase in the weighted average shares, resulting from the equity raise, in connection with the acquisition of La Jolla Commons in Q2 of this year.
Secondly, as Ernest. As previously mentioned, we've increased the quarterly dividend by $0.02 per share beginning on December 26 to stockholders of record on December 12, and approximately a 7.1% increase over the prior quarterly dividend. And third, our 2020 guidance range midpoint of $2.42 is approximately a 9% increase over the revised 2019 guidance midpoint. However, excluding 2019, non-recurring termination fees of approximately $5.2 million recorded year-to-date, the majority of which was non-cash. The 2020 guidance midpoint, would be approximately 13% increase over 2019 and we believe reflects the true FFO growth in 2020.
Let's discuss these highlights in more detail. Our retail portfolio ended the quarter at 98% leased, combined with what we believe are the highest annualized base rents among our peers. During the trailing four quarters, 73 retail leases were signed representing approximately 313,000 square feet or 10% of our total retail portfolio. Of these leases signed, 61 leases consisting of approximately 180,000 square feet were for spaces previously leased. On a comparable basis, the annual cash basis rent increased 3.7% over the prior leases, and on a straight-line basis, increased 10.6% over the prior leases.
Our office portfolio ended the quarter at 94.7% leased, specifically as it relates to La Jolla Commons, we have made great progress. As of the date we acquired that asset on June 20th, it was 88% leased. 10 days later on June 30, it was 95.9% leased and as of September 30, it was 96.6% leased. We believe it continues to be in the path of future growth and in a dynamic market, where the vacancy is approximately 3%. Steve Center, our Vice President of Office Properties has done a tremendous job in overseeing this asset's leasing momentum. Setting, what we believe are new high watermarks for office rent in the UTC submarket.
It's also important to note, that we believe our in-place rents for the entire office portfolio are approximately 18% below market. During the trailing four quarters, 71 new office leases were signed, representing approximately 679,000 square feet or 20% of our total office portfolio. Of these leases signed during the year, 47 leases consisting of approximately 494,000 square feet were for spaces previously leased. On a comparable basis, the annual cash basis rent increased 45% over the prior leases, and on a straight-line basis increased 69% over the prior leases. The increase in the straight line rent in both retail and office, reflects the cash NOI growth that is locked in, and we expect to see beginning in 2020.
At first glance, overall same-store cash NOI was somewhat confusing to expectations. But with a deeper dive into the numbers, it is simply comprised of same-store retail cash NOI decreasing in the third quarter by 5%, or approximately $800,000, resulting from a decrease in retail termination fees received in 2019 over 2018 from two Aaron Brothers stores, one of which has been released in 2019. And we recorded a bad debt expense for one Forever 21 store closing we have at Del Monte Center in Q3 '19, that is the only Forever 21 store we have in the portfolio. When we acquired the Forever 21 building in Q3 of 2017 for approximately $5 million, we modeled our acquisition to reflect the natural expiration of the Forever 21 lease as of July 31, 2020. Now we have the opportunity to renovate that building much sooner and make it relevant to the current marketplace. We received their October rent and have reserved their fourth quarter rent for approximately $250,000. It is already factored into our 2020 guidance as well, which we will share with you in just a moment.
Same-store cash NOI increased tenant 10.5% in the third quarter, primarily due to additional revenue from new leases signed at City Center Bellevue and we received a termination fee of approximately 4700,000 from a tenant at City Center Bellevue for approximately 37,000 square feet, terminating in the third quarter of 2019. VMware has since entered into a lease that expands into all of this tenant's former space effective in 2020 at higher rates.
Same-store multifamily cash NOI for all multifamily properties on a combined basis decreased approximately 4.8%, primarily due to a decrease in cash NOI of approximately 8% in our San Diego multifamily portfolio, primarily due to a reduction in the occupancy percentage, combined with higher repair and maintenance expenses at Loma Palisades.
Cash NOI increased 8% at our Hassalo on Eighth multifamily property in Portland. Although the occupancy percentage for Hassalo on Eighth remained consistent at approximately 91% compared to the same property -- same period in 2018, rental expenses decreased approximately 6%, providing for the increase in cash NOI.
Moving on to our mixed use property; as previously announced, Waikiki Beach Walk, our mixed use property consisting of the Embassy Suites hotel and Waikiki Beach Walk Retail, was moved out of same-store designation beginning in Q1 '19, as the mixed-use property undergoes a significant renovation, which began at the beginning of the year, including spalling work on all outdoor balconies and exterior painting of both towers.
As an update to the renovation, work on the first tower is now complete and we are now working on the second hotel tower. The spalling work and exterior painting is estimated to be completed before the end of Q2 next year. The room refresh project is expected to begin in mid-March and be completed for both towers by the end of May 20
As the renovation work is ongoing for the third quarter of 2019, our mixed use properties reported a combined increase in cash NOI of approximately 2%. Looking at the results separately, the Embassy Suites' cash NOI remained flat, despite the ongoing renovation work. Embassy Suites saw an increase of 3% in RevPAR for the quarter, which was offset by an increase in room operating expenses, and an increase in sales and marketing expenses. At Waikiki Beach Walk Retail, cash NOI increased 4%, primarily due to increases in base rent and parking income, partially offset by an increase in real estate taxes. Tenant sales remain high at $1,060 per square foot the rolling 12 months, as our tenants continue to benefit from the excellent locations and a good economy.
Now if you look at our balance sheet and liquidity at the end of the third quarter, we had approximately $466 million in liquidity, comprised of $116 million of cash and cash equivalents and $350 million of availability on our line of credit. Our leverage, which we measure in terms of net debt-to-EBITDA was 5.5 times, and our focus is to maintain our net debt-to-EBITDA at 5.5 times or below
On July 30, we entered into a no purchase agreement for the private placement of $150 million unsecured 3.91% Senior Guaranteed Notes with an 11-year maturity. The effective interest rate, net of the settlement of a treasury rate lock contract is 3.88% for 10 years. As we approach the end of the year, we are updating our 2019 guidance by tightening the FFO per share range to $2.20 to $2.24 per FFO share from our prior guidance range of $2.18 to $2.26 per FFO share, with the same midpoint of $2,22 per FFO share.
Now let's talk about 2020 guidance. We are introducing our 2020 FFO per share guidance range of $2.38 to $2.46 per FFO share, with a midpoint of $2.42 per FFO share, which is approximately 9% increase in FFO over the revised 2019 midpoint, or an increase of approximately 13%, excluding non-recurring termination fees received year-to-date through September 2019, that totaled approximately $5.2 million or $0.07 of FFO per share.
Let's walk through what makes up the 2020 guidance. First, same-store retail cash NOI is expected to increase approximately 4% or $0.035 per FFO share. This is primarily due to increases in cash NOI at Carmel Mountain Plaza, as we received full year's rent from the at-home lease and rent continues on two new leases recently signed at Solana Beach Towne Centre.
Secondly, same-store office cash NOI is expected to increase approximately 14% or $0.14 per FFO share. The increase in same-store office cash NOI is mostly attributable to the following. First, at Torrey Reserve, we expect to receive a full year's rent from newly signed tenants that is estimated to increase cash NOI, approximately $0.04 per share of FFO. At Torrey Point, we expect to receive a full year's rent from newly signed tenants. The increase in cash NOI is estimated to be $0.02 per share of FFO.
At the Lloyd District, we expect to receive a full year's rent from newly signed tenants, including rents to be received from our newly redeveloped Oregon Square building, as well as rent increases from contractual increases specified in existing lease agreements. The increase to cash NOI is estimated to be approximately $0.07 per share of FFO.
At City Center Bellevue, we expect to receive a full year's rent from newly signed leases, as well as rent increases from contractual increases. The increase to cash NOI is estimated to be approximately $0.03 per FFO share. At First and Main, we are currently negotiating lease renewals with the GSA, which we are optimistic that it will occur. A decrease in cash NOI is anticipated, based on current negotiations, which include rent abatements and the giveback of one floor. We are estimating a decrease to cash NOI of approximately $0.02 per share.
What's interesting, is that this growth in the same-store office cash NOI is not coming from Landmark at One Market. The reason is that Google, which is a tenant at Landmark, has partial rent abatements of approximately 35% of its base rent through the second quarter of 2022. The same-store office cash NOI growth in 2020, is mostly from positive momentum at City Center Bellevue, Torrey Reserve campus and the Lloyd District portfolio. Same-store multifamily cash NOI is expected to increase approximately 3.5% or $0.01 per share of FFO.
Number four, our non-same-store guidance includes the following four properties. First, a full year of operations in 2020 at La Jolla Commons is expected to increase our cash NOI at approximately $0.18 per share of FFO. Secondly, a major tenant's lease at the One Beach Street Property in San Francisco is scheduled to expire at the end of 2019. Beginning in 2020, we will remove One Beach from the same-store metric, as we anticipate undergoing a significant redevelopment project of the interior of the building and adding a rooftop deck with elevator access and panoramic views of Alcatraz off the North Waterfront in San Francisco. The current in-place rents of the expiring tenant are approximately $39 per square foot in a dynamic market, that we believe is an excess of $70 per square foot, and justifies the reinvestment in the building. The decrease in cash NOI is estimated to be approximately $0.04 per share of FFO in 2020.
Third, Waikele Center in Hawaii was removed from same-store in 2019, with the demolition of the former Kmart building. We anticipate that Waikele Center will remain a set same as a non-same-store property, as we continue to work with prospective tenants. We do not anticipate commencing construction on a new building -- retail building space until, we have a signed lease with a lead tenant. Meanwhile, the new Safeway store at Waikele Center is scheduled to open before the end of 2019 in space formerly occupied by the Sports Authority. Lease revenue from Safeway is expected to increase cash NOI approximately $0.02 per share of FFO in 2020.
Fourth, our mixed use property consisting of the Embassy Suites and Waikiki Beach Walk Retail Properties were also taken out of the same store metrics in 2019, due to previously mentioned paintings, falling and room refresh work intended to maintain the high level customer experience that keeps our Embassy Suites the number one performing Embassy Suites in the world.
We hope to have everything completed by the end of the second quarter in 2020. We expect the results of our mixed use property will remain flat in 2020, with no change to cash NOI for 2020.
Fifth, G&A is expected to increase to approximately $26.2 million, which will decrease FFO by approximately $0.02 per share of FFO. Interest expense is expected to decrease by approximately $2 million, primarily due to the capitalization of interest costs related to the anticipated development at the La Jolla Commons property. We currently are actively planning and getting ready for the development of the 224,000 construction gross square feet Class A office tower mentioned above. However, at this time, there is no definitive date with respect to the start of construction, nor is there any assurance that the project will be developed. The reduction of interest expense related to the capitalization of interest costs is expected to increase our FFO per share by approximately $0.025.
Seven, straight line revenue combined with above and below market revenue adjustments is estimated to remain flat at approximately $20 million in 2020. The majority of which relates to Landmark, La Jolla Commons, and the Lloyd District office portfolio.
Number 8, in connection with the acquisition of La Jolla Commons, we did a follow-on equity offering in June 2019. As a result, we estimate that our outstanding weighted average shares of common stock used in the calculation of FFO per share for 2020, will increase by approximately 5.3 million shares. We have estimated that the increased number of outstanding weighted average shares of common stock will result in a dilutive effect of approximately $0.15 of FFO per share for 2020. These adjustments should approximately reconcile our revised 2019 midpoint revised guidance of $2.22 with our 2020 guidance of $2.42.
Retail same store occupancy is expected to end 2020 at approximately 95.8% and office same store occupancy is expected to end 2020 at approximately 96%. Operational CapEx in 2020 are again expected to be in the $80 million to $85 million range, which is consistent with our 2019 estimate. Our estimated operational CapEx in 2019 and 2020 are higher than our historical $30 million to $40 million per year, due to the increased leasing activity resulting in higher tenant improvement and leasing commission expenditures. As always, our guidance in these prepared remarks exclude any impact from future acquisitions, dispositions, equity issuances or repurchases, future debt refinancings or repayments, other than what we've already discussed. We will continue our best to be as transparent as possible and share with you our analysis, interpretations of our quarterly numbers.
Operator' I'll now turn the call over to you for questions.
Operator
[Operator Instructions]. Our first question comes from Haendel St Juste with Mizuho. Your line is now open.
Haendel St. Juste -- Analyst
Hey, good morning gentlemen. I was wondering if you could talk a bit more about the 2020 guidance? I appreciate the color here, but maybe a bit on some of the factors that you contemplate at the upper end, and then the lower end of the guidance range?
Robert Barton -- Executive Vice President and Chief Financial Officer
Well, in terms of in terms of the range of the guidance, Haendel, I think it's not likely we're going to hit the lower end of the range first of all. But we generally put a range out. Keep in mind, we're 15 months out by the end of 2020. So we're making our get our best estimate at this point in time. But from our vantage point today we did -- at least from my perspective is that, I don't think it's likely we're going to hit the lower end of the range, I think we're seeing positive momentum, positive leasing momentum that will give us the opportunity to accomplish the upper end of the range. But there is -- who knows what the future sees in the next 15 months. But we're very positive of the markets that we're in.
Haendel St. Juste -- Analyst
Got it, got it, thanks. Maybe a bit more clarity on, the Waikiki falling project, now because the start of the year, you've said a $0.05 of drag. So maybe you could parse out a little bit about what is, I guess the current expectation for the drag in this year, and then what's embedded in the guide for next year. And by the way, was that contemplated previously to be completed this year and is now I guess spilling over into next year, or was it always the case with respect to the mid 2020 completion?
Robert Barton -- Executive Vice President and Chief Financial Officer
It's really spilling over to next year. In Hawaii, things take longer because you have to ship everything to the island. So I would say it's -- our goal initially was to have that finished by the end of Q3 and the furniture is coming from Vietnam -- for the room refresh, there's just a whole lot of logistics and timing trying to get that done. So we are hopeful that by the end of Q2, that we will have this finished. So to answer your question, yes, it's spilling over into 2020.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
But if you compare this to comparable jobs, we think we're making very good progress in very good time.
Haendel St. Juste -- Analyst
Okay. So -- and then back to I guess the first of all, my question, the full year estimated impact of that -- drive that project this year I guess. embedded in that is, how did the hotel perform during the year versus your expectations, when you said it had a $0.05 drag outlook at the start of this year and then maybe quantifying a bit the drag that's embedded within the guidance on an FFO basis for that project next year?
Robert Barton -- Executive Vice President and Chief Financial Officer
Yeah. We've put a reserve at the beginning of the year and part of that may rollover. But what's happened is that, the Embassy Suites hotel, the sweet spot is to run that at about 88%, 87% occupancy, with a RevPAR north of $300 -- significantly north of $300. And what we've experienced is, we've had to increase the occupancy on that and try to make up for that, because the ADR has been reduced somewhat because of the spalling. Keep in mind, when we say spalling, you have scaffolding on the exterior of that building, and when you go to Hawaii, you're on vacation and you don't anticipate opening the curtains and seeing scaffolding out. You expect to see palm trees and water. So we had to adjust the rate. It hasn't been -- the impact to the NOI hasn't been as significant as we thought it was, but there was some adjustments to that.
Haendel St. Juste -- Analyst
Okay, fair enough. And then maybe some color on Loma Palisades, the weakness there? Curious if its an asset specific, sub-market specific big issue than what seemed to be an otherwise strong multifamily market in Southern California? And then expectations for that asset into next year. Thank you.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Lomas Palisades is in need of a facelift, and we are in the process of providing that. In the meantime, the market has been a bit softer than we would have liked for apartments in San Diego. And we still think it's a great piece of property right overlooking Seaworld, Mission Bay. But it was tired, and it needs some improvement and we're providing that improvement. Abigail, do you want to add something to that? [Speech Overlap]. Well, it's a great piece of property Haendel, extremely valuable, just in order to maximize the returns from it, we've got to give it a facelift. We've done the roofs. We're starting to work on the landscaping. We've done the plumbing, the sewers and that we're doing it one at a time. And it will happen, then it will be a beautiful property when it's finished. It just needs a facelift.
Haendel St. Juste -- Analyst
And just to be clear, is that within your same store multifamily for the next year, in that [Indecipherable].
Ernest S. Rady -- Chairman, President and Chief Executive Officer
I think Bob, do you want to...
Robert Barton -- Executive Vice President and Chief Financial Officer
Yeah. We have not taken that out of same store. That's still in the same store.
Haendel St. Juste -- Analyst
Got it. Okay, thank you.
Operator
Thank you. And our next question comes from Richard Hill with Morgan Stanley. Your line is now open.
Ronald Kamdem -- Analyst
Hey, you've got Ron on for Richard. The first question, just looking at the -- good morning. Just looking at the investor presentation you guys had out with the potential FFO, it looked like it was $2.45 for 2020. So I guess I'm just wondering, thinking about the guidance for next year and appreciate a lot of the color that you provided. But it feels like it's a little bit conservative, if La Jolla coming in better than expected, and you're going to have sort of a benefit from interest expense as well. Maybe, can you just talk about maybe -- ask that another way, is it possible that that high-end of the range maybe -- may even be too low?
Robert Barton -- Executive Vice President and Chief Financial Officer
Well there, first of all, good morning, Ron. There's always that possibility, but keep in mind. So, we had that question from several investors along the way. So during 2019, we've been on the road meeting with investors, and in our presentations through August, we had the bridge, which reflected a midpoint or what we thought was realistic at that time, that we were comfortable with at $2.42. So through eight months of the year, we showed $2.42. In our September presentation, we increased that midpoint -- not midpoint, but we increased that to $2.45 and through our guidance and our budgeting process we rolled it up, and when we take a look at the ranges and the possibilities, we always like to put a range around it, that's just prudent to do when you're 15 months out from the next -- at the end of the next year. So while we are not saying that we can't achieve $2.45, it was more important to have a midpoint that reflected the midway between the rock bottom and the potential weigh up above. And I think the $2.45, we put the upper range at $2.46. I think there is -- we're very positive on the potential in this portfolio. And so it's not to say that we can achieve the $2.45. But we think the right thing to do was, to put the midpoint at $2.42 which is what we had shown throughout most of the year.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
If we had our choice of a strategy, it would be underpromise and overdeliver. In this case, it's our best guess, and we certainly hope to overdeliver. But we don't want to make promises to disappoint. Sooner make promises and at least meet them and perhaps exceed the results of that promise.
Ronald Kamdem -- Analyst
Great, that's helpful. Maybe can you give an update on what the acquisition environment is like, maybe cap rate assets that you're looking at. What property types look the most interesting to you right now? Thanks.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Ron, there is so much money around, that the value of properties that we look to acquire, has been high, and we had a run at several, mostly office properties. We have come to realize that if you own good office in the path of growth, it can be very significantly profitable. But the competition for quality properties such as ours is intense, that would lead to the conclusion, that what is the value what we have, if what we acquire is so expensive. So we are very pleased with what we have, and we continue to beat the bushes to try and find more of the same quality with this -- with upside as well.
Ronald Kamdem -- Analyst
Great. That's all from my end. Thanks, Scott.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Thanks.
Robert Barton -- Executive Vice President and Chief Financial Officer
Thank you, Ron.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Say hello to Richard.
Ronald Kamdem -- Analyst
Yeah, sure.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Thanks Ron.
Operator
Thank you. And our next question comes from Michael Carroll with RBC Capital Markets. Your line is now open.
Jason Idoine -- Analyst
Hey guys, it's Jason on for mike.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Who is on?
Jason Idoine -- Analyst
Jason on for Mike.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Okay, Jason, say hello to Michael.
Jason Idoine -- Analyst
Will do. So just wondering, given all the noise around rework, how are you guys feeling about that lease and sales are continuing to fill up the space at 8-30?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Yeah, we're watching it. I'm not concerned about it. Rework seems to have for path at least a midpoint. We do have security for the lease we have. They continue to work upgrading the building that we provide them. And so we also believe that if god forbid something happens to reworks that we have an excellent and improved property in a market that has interest in this product. And frankly, I'm not losing any sleep over it. Steve, you're losing any sleep?
Steve Center -- Vice President of Office Properties
No, I can add to that, that it's a 55,000 foot building and they are now marketing 14,000 feet for lease. So they have owned it for -- all the 14,000 foot in six small spaces. So it appears that they are doing very well, even prior to [Indecipherable].
Robert Barton -- Executive Vice President and Chief Financial Officer
And you asked about the other building, that we're also in the process of beginning to upgrade it. And should we were not to be present for some reason or other, we'll will manage that ourselves. So I don't...
Jason Idoine -- Analyst
That's a seven ton?
Robert Barton -- Executive Vice President and Chief Financial Officer
Its money well spent, in a market where the demand seems to be there for the project we are producing.
Jason Idoine -- Analyst
Got it. And then I was also wondering if you guys could just provide an update on the Torrey Point asset and what kind of leasing activity you're seeing there?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Steve, I'm going to leave that to you. We're making some progress, but certainly it has been slower than we'd wished for.
Robert Barton -- Executive Vice President and Chief Financial Officer
We recently signed a 15,000 foot lease with Neurelis. which is a life science company. They were an existing customer in 3,900 feet and they grew up to 15,000 feet and we've got proposals out for another 12,000f eet. So we're chipping away. The markets coming in our direction. UTC and Torrey Pines are virtually full. UTC is Class A, vacancy direct is 2.3% at the end of Q3. So we're seeing a lot of life science prospects, not only at Torrey Point, but also at Torrey Reserve as well. So the market is improving and we feel good about the future.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
It seems to be in the path of the growth and we are hopeful, if not optimistic.
Jason Idoine -- Analyst
Got it. Okay, thank you guys.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Thank you, Jason.
Operator
Thank you. And our next question comes from Mitch Germain with JMP Securities. Your line is now open.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Hi Mitch.
Mitchell Germain -- Analyst
Hey, good morning, how are you? So the UTC development, I'm curious where that stands from a planning/entitlement perspective, number one? And then number two, what does it take for you guys to commence it, and then I guess number three, how are you planning to fund it?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Okay. I'm going to ask Jerry Gammieri, who is in charge of that entitlement and he knows the answer, because I ask him that question almost daily.
Jerry Gammieri -- Vice President of Construction and Development
Thank you. Hey Mitch. We are in the process right now with the City of San Diego to protect our entitlements and submit under the code -- there is a code change coming in 2020. We expect to be into the city this year to basically protect ourselves for the next four years. So we have some runway in front of us, allowing us an opportunity to pre-lease the building before we go to construction. But our hope is to be permit ready by the first quarter of 2020.
Robert Barton -- Executive Vice President and Chief Financial Officer
Yeah, let me, let me just be clear to those people listening, is that the entitlement to build is protected, it's vested. But what Jerry is talking about is that, if you can get into the city of San Diego and get the permit number, then we don't have to do the upgrade in the -- from the 2016 code to the 2020.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Is it an upgrade or just a change, Jerry?
Jerry Gammieri -- Vice President of Construction and Development
It's a change in code.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Its a change. Its not necessary an upgrade.
Jerry Gammieri -- Vice President of Construction and Development
The change in code leaves more time delays.
Robert Barton -- Executive Vice President and Chief Financial Officer
But the entitlement is vested.
Jerry Gammieri -- Vice President of Construction and Development
And then whether we're going to build it, it is much more likely than not we would build, into a market with 3% vacancy. And as the financing goes, as Bob pointed out in his presentation, we have $110 million cash on the balance sheet, and as the time approaches, we will consider other methods of financing.
Robert Barton -- Executive Vice President and Chief Financial Officer
Yeah, I think, Mitch, the cost of that building, I mean we don't -- we haven't been bid it out yet. But just back of the napkin, it's probably -- It's under $200 million from my back of the napkin math. Probably $160 million to $180 million, somewhere in that range. But it's only like a -- it's less than a 4% expansion of our balance sheet. So it's the right thing, in the right market, in a very low vacancy market in UTC, and that's on the forefront of growth.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
We'd like to buy another one just like it.
Mitchell Germain -- Analyst
That sounds that sounds wonderful. So Bob, while I have you, talk to me about from 3Q to 4Q. So it looks like you have a term fee this quarter that comes out of the numbers. Obviously, Forever 21 comes out. How do I get from 3Q to 4Q in terms of the bridge to hit your guidance range?
Robert Barton -- Executive Vice President and Chief Financial Officer
[Indecipherable]. So you're looking for the bridge going forward to 2020?
Mitchell Germain -- Analyst
No, I'm just talking about just -- no, I'm talking about from 3Q to 4Q. Just I guess just a couple of negatives in the number right. There's a couple of -- how much was the charge that you took for Forever 21?
Robert Barton -- Executive Vice President and Chief Financial Officer
We took approximately $250,000, and we did -- actually we got paid for November. I just heard about that this morning. So that maybe a little bit stiff.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
I think it's lightly [Speech Overlap].
Mitchell Germain -- Analyst
Got you and then -- and then you took a -- and then you have a term fee that you received in the office sector, right?
Robert Barton -- Executive Vice President and Chief Financial Officer
Term fee, we received about $700,000 in the office sector in Q3.
Mitchell Germain -- Analyst
So netting those two, it's about $500,000 positive, right? That comes off?
Robert Barton -- Executive Vice President and Chief Financial Officer
Approximately yeah.
Mitchell Germain -- Analyst
Yeah and then, is there anything that kind of -- that we should be cognizant of in the 4Q that wasn't in 3Q?
Robert Barton -- Executive Vice President and Chief Financial Officer
No, nothing, nothing that really sticks out on that. We're on track to hit our midpoint.
Mitchell Germain -- Analyst
Great, thank you.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Thank you, Mitch.
Operator
Thank you and our next question comes from Craig Schmidt with Bank of America. Your line is now open.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Good morning Craig.
Elvis Rodriguez -- Analyst
Hey guys, this is Elvis for Craig. How are you guys doing?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Okay. Good, thanks. Say, hi to Craig for us.
Elvis Rodriguez -- Analyst
We will. And congratulations to Adam.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Yeah, he deserves it.
Elvis Rodriguez -- Analyst
Just a quick question, because there's a lot of moving pieces in and out of the same-store pool. How should we think about that cash same-store NOI, as you report it, or as you think you will report it call it in the end of 2020 for the entire portfolio?
Robert Barton -- Executive Vice President and Chief Financial Officer
Well, in the remarks Elvis, I think we said it was 4% growth in retail and -- is it 14% growth in office. And frankly, when I look at the office into the next couple of years, we're expecting in excess of 10% in the office sector on same-store. I mean, that is a strong -- strong sector for us. And then multifamily should be about 3.5%.
Elvis Rodriguez -- Analyst
So Bob, the 9% includes redevelopment or excludes redevelopment?
Robert Barton -- Executive Vice President and Chief Financial Officer
It excludes redevelopment.
Elvis Rodriguez -- Analyst
Okay. So including redevelopment, where would that be trending you think call it, through 2020?
Robert Barton -- Executive Vice President and Chief Financial Officer
Yeah, it's not going to be -- I mean, multifamily isn't impacted. Retail would be impacted slightly. If you look at it what it is today on the supplemental, excluding redevelopment and including it, it's not that -- it's not that big of -- and we break it out in there. So I'll be glad to give you more color on that after the call. But I don't think, its that big of an impact.
Elvis Rodriguez -- Analyst
All right. That'd be be helpful. And just another question, so as you commence or potentially commenced the La Jolla project, you are going to probably trend to be more than 50% office. How do you think about your diversified portfolio going forward, and will you rebalance in the future with more multifamily or retail or as office sort of the stock that you think you'll have longer term?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
We tell investors, if you guys don't pay me to come to work to build an office, a REIT, a shopping center REIT or a residential REIT, you pay me to build wealth. And if the opportunity to build wealth is in office, we're going to emphasize that. At the same time, we're going to try and build wealth in the other categories too. So we don't think of ourselves as one character only. We think of ourselves as wealth builders. Right now, the opportunity that is in office, and we are fortunate to have been in that -- to be able to take advantage of those opportunities.
Robert Barton -- Executive Vice President and Chief Financial Officer
Elvis, just to add to that. I think that's a great way that Ernest stated about creating wealth. Where we are right now, we're not looking to add retail, we're looking to add office, and multifamily to a lesser extent.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
And if you look at this strategy, since we went public over the last eight years, we've increased our dividend every year and our compound return has been , what 13% or 14% a year. We still apologize for being multi-strategy REIT. I've stopped apologizing because the statistics are, we are as good as anybody in the industry and better than the vast majority, and we hope to be able to continue that track record.
Elvis Rodriguez -- Analyst
Great. Thanks guys.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Thank you sir.
Operator
Thank you. And our next question comes from Todd Thomas with KeyBanc Capital Markets. Your line is now open.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Good morning Todd.
Todd Thomas -- Analyst
Hi good morning. So I just wanted to circle back to acquisitions. You had talked previously about doubling the size of the portfolio over what's now, I guess a four year time-frame, and you commented that its a competitive environment. But your cost of capital has also improved. So I'm just curious if your appetite has changed; and Bob I'm curious if there is anything in the 2020 guidance for investments or capital raising?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Our appetite hasn't changed. It's a question of the number of calories and the meal we'd have to consume. So we're going to continue to try and achieve those objectives. But we don't have to achieve them to produce superior results. And Bob do you want to take us through...
Robert Barton -- Executive Vice President and Chief Financial Officer
Yeah. Hey Todd In the 2020 guidance. We've not factored in any acquisitions at all. We're actively looking -- our job is to create value for our shareholders, and that's why we're out looking. We're not looking to get big for the sake of getting big. We're looking to do it accretively and then if we find something and bring it to your attention, it's going to be accretive, its going to be good for every shareholder.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
That's well put.
Todd Thomas -- Analyst
Okay. When you had discussed that plan a couple of quarters ago, what's changed since then? Is it just that there's been some cap rate compression and more capital coming into the markets that you're targeting? What's changed over the last couple of quarters, specifically?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Look nothing has changed, except that we continue to look and we make acquisitions that are significant. To make acquisitions significant is not like going to the grocery store and filling in your basket up with groceries. We've got to find something that makes sense. Bob?
Robert Barton -- Executive Vice President and Chief Financial Officer
Yeah, I think regardless of where we are in the economy, we still underwrite. We're very consistent on our underwriting. We look for unlevered IRRs greater than 6. We look -- we focused on NAV and we focus on earnings growth. Earnings growth is really important and we want to make sure its accretive. I mean you could make an acquisition and get big and you do financial engineering, you could destroy shareholder value or destroy earnings. That's not what we do. And if you look at our history, we've been pretty good at it.
The other thing too is that, our cost of capital, which I think you mentioned. We're in a -- we continue to enhance our cost to capital and not everybody is at that vantage point. So I think you know it's our job to look for those opportunities and we are actively looking.
Todd Thomas -- Analyst
Okay. And then going back to the multifamily portfolio. We saw occupancy decrease a little bit more meaningfully in the quarter across the portfolio in Portland as well, not just in San Diego. But you are projecting pretty solid recovery in 2020 and I'm just wondering if you could shed some light on what happened in the quarter, more broadly and what gives you confidence that you'll see the same-store growth materialize that you are forecasting?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Well, Portland has become more competitive than those are circumstances we don't have any control of. We have excellent product. In San Diego, we have excellent product as well, Loma Palisades needs a facelift as I said earlier, and we're working on that. Pacific Ridge is doing well, and has opportunity for upside. It's a changing [Speech Overlap]. You have anything Abigail?
Abigail Rex -- Director, Multifamily, San Diego
Yeah, just to add a little bit to that. I think you know, we've seen a softening in the county in terms of vacancy rates, and while we think about San Diego being a nice healthy place to live and -- with healthy occupancy across the board in San Diego between 3 star and 5 star communities, the average vacancy rate is about 5% to 6% and that's pretty comparative to 6% and that's pretty comparative to what we're seeing in the portfolio here in San Diego. So like Ernest said, we're trying to continue building value. We're investing capital in the communities, in hopes that it will continue to target a greater leasing and more occupancy in these communities.
Todd Thomas -- Analyst
Okay. Are you increasing your use of concessions? Should we expect to see rent start to come down? So far, they've held up pretty well across the multifamily portfolio. But should we expect to see it begin to build a little bit more occupancy in 2020?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
We'll do what we can to maximize in the coming year.
Robert Barton -- Executive Vice President and Chief Financial Officer
Todd, when I think about that, is that you think about the new product that comes online. And for a studio, what I've seen and this is I think in the recent paper, studio going for like $2,700 at which is very expensive. And I think that, the pricing of our product and the quality of our product is in a sweet spot. If you want to thee bedroom, let's say it's $4,000 to $4500 -- its $1,500 a person, which is achievable. But when you start mixing that up, it becomes more expensive, it's tough for a sustainable rent to continue at that higher rates. So I think that our product is priced right, and I think that that growth, we will see it -- continue to see it. I feel positive about our multifamily portfolio here in San Diego.
In terms of Portland, we've mentioned on other calls that there is an oversupply of product in multifamily product, in the Lloyd -- not the Lloyd District, but in Portland. That is slowly being absorbed. And I can't tell you when that's going away, hopefully within the next two years that goes away. But in the meantime, we're staying steady at about 91%.
Todd Thomas -- Analyst
Okay and then just last question. I was just wondering if -- Ernest I missed your prepared remarks at the very beginning of the call, and you're -- I came on right as you were finishing though, and I heard you commenting about, the appointment of Adam to COO. Ernest you've been in the Chairman, CEO and President seat for several years and the executive management team has been comprised entirely of you and Bob for quite some time now. So I find this announcement interesting, and I'm just curious if you could talk about what this means for AAT? What Adam will focus on with his new responsibilities here, and if there's anything we should read into that announcement?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
No. Other than it's a recognition by the Board, that Adam has made a significant contribution and that his role has been more than just Chief Legal Counsel. He has really handled a lot of the operations very well and the Board wanted to acknowledge that with the title. This has never been just Bob and I, it's been Bob and I and all the team in this room, including Adam, who has made a great contribution, is extremely capable, and he has the good fortune of being younger than me. On the other hand, I love what I do, and I'm having fun and if the Board fired me, I don't know what I'd do to have so much fun. So we're going to continue to work together. It's a great team. We're dedicated to build the wealth for all our stockholders. Stick with us Todd.
Todd Thomas -- Analyst
All right, great. Thank you.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Thank you.
Robert Barton -- Executive Vice President and Chief Financial Officer
Thanks Todd.
Operator
Thank you. And I'm currently seeing no further questions in the queue, I'd like to turn the call back to -- correction, I do see one further question in the queue. Would you like to take it?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Sure.
Operator
All right. Next question comes from Tammy Afik [Phonetic] with Wells Fargo Securities. Your line is now open.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Hi.
Tammy Afik -- Analyst
Hi, just wondering, the CapEx that you laid out for 2020, does that includes the redevelopment spending that you're planning to do?
Robert Barton -- Executive Vice President and Chief Financial Officer
The redevelopment at which property, that does not include La Jolla Commons at all.
Tammy Afik -- Analyst
Okay. But so like the Kmart space at Waikele, like I just -- I guess, I'm just curious to know what -- I'm really just looking for majority [Phonetic] of the capital spending that you expect to do in total for development, redevelopment projects in 2020?
Robert Barton -- Executive Vice President and Chief Financial Officer
Yes, we have I think about $30 million in there for Kmart redevelopment where we're hopeful that Chris gets the lease signed. And we expect to put probably about $30 million toward that. And then a lot of TIs and leasing commissions on some of the new leases.
Tammy Afik -- Analyst
Okay, so I guess just in total, what are you expecting to spend for the developments and redevelopments in 2020?
Robert Barton -- Executive Vice President and Chief Financial Officer
Tammy, I don't have that broken out in front of me. But I'd be glad to answer that offline.
Tammy Afik -- Analyst
Okay, great. And then just wondering if you could talk a little bit more about the opportunity in the Forever 21 space, you mentioned renovating that space. I'm wondering if you will replace that tenant with another apparel tenant, or is there a better use, is there expansion potential, just wondering if you could elaborate there a little bit?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Sully, who handles that is [Indecipherable] which means that he wants to answer the question. Chris, am I correct that you would like to answer that question?
Hi Tammy. So you know that Forever 21 is on a 20,000 feet of ground floor and 40,000 feet of the second, former Mervyns building in Del Monte Center. So as we look to break up that box and space, it will be probably a combination of what I would say a more typical mall tenants and also a combination of [Indecipherable] pieces there.
And we are in the process of...
Chris Sullivan -- Vice President of Retail Properties
Oh yeah, we've been working on this for about a year probably now .
Tammy Afik -- Analyst
Okay, got it. And then do you think that rents there will go up relative to what Forever 21 was spending? Yeah, I'm sorry -- the Forever 21 rent there?
Chris Sullivan -- Vice President of Retail Properties
I'm going to say. I certainly hope so, Forever 21, is on a gross lease. So I've got to compute it back to get my triple nets and the rest of it. But I hope to do better.
Tammy Afik -- Analyst
And then just last question, I mean it looks like in the most recent investor presentation, the FFO estimates for 2021 and 2022 were eliminated, and I'm just curious why you decided to take that out?
Robert Barton -- Executive Vice President and Chief Financial Officer
What we are doing is just getting ready for our guidance report on thisearnings call So what we're doing just focusing in on '19 and '20 and as we get into 2020, what we'll do is, we hope to give you more information on that. The information that we put, was not fully baked, because we only put out what we knew at that point in time. What we do know, is that there is growth. And so as we get a clearer picture, we will share it with you as we have consistently in the past.
Tammy Afik -- Analyst
Okay, great. Thank you.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Thanks, Tammy.
Operator
Thank you. And I'm showing no further questions in the queue at this time, I'd like to turn the call back to Ernest Rady for any closing remarks.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Okay, thanks all of our stockholders and the representatives for allowing us to have so much fun. It's really fun for us to create the wealth we've been able to create for our stockholders over the last eight years, and we hope, the next years are as fruitful. And thank you for your confidence .
Operator
[Operator Closing Remarks].
Questions and Answers:
Duration: 59 minutes
Call participants:
Adam Wyll -- Executive Vice President and Chief Operating Officer
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Robert Barton -- Executive Vice President and Chief Financial Officer
Steve Center -- Vice President of Office Properties
Jerry Gammieri -- Vice President of Construction and Development
Abigail Rex -- Director, Multifamily, San Diego
Chris Sullivan -- Vice President of Retail Properties
Haendel St. Juste -- Mizuho -- Analyst
Ronald Kamdem -- Morgan Stanley -- Analyst
Jason Idoine -- RBC Capital Markets -- Analyst
Mitchell Germain -- JMP Securities -- Analyst
Elvis Rodriguez -- Bank of America Merrill Lynch -- Analyst
Todd Thomas -- KeyBanc Capital Markets -- Analyst
Tammy Afik -- Wells Fargo -- Analyst
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | American Assets Trust Inc (NYSE: AAT) Q3 2019 Earnings Call Oct 30, 2019, 11:00 a.m. So I find this announcement interesting, and I'm just curious if you could talk about what this means for AAT? Questions and Answers: Duration: 59 minutes Call participants: Adam Wyll -- Executive Vice President and Chief Operating Officer Ernest S. Rady -- Chairman, President and Chief Executive Officer Robert Barton -- Executive Vice President and Chief Financial Officer Steve Center -- Vice President of Office Properties Jerry Gammieri -- Vice President of Construction and Development Abigail Rex -- Director, Multifamily, San Diego Chris Sullivan -- Vice President of Retail Properties Haendel St. Juste -- Mizuho -- Analyst Ronald Kamdem -- Morgan Stanley -- Analyst Jason Idoine -- RBC Capital Markets -- Analyst Mitchell Germain -- JMP Securities -- Analyst Elvis Rodriguez -- Bank of America Merrill Lynch -- Analyst Todd Thomas -- KeyBanc Capital Markets -- Analyst Tammy Afik -- Wells Fargo -- Analyst More AAT analysis All earnings call transcripts 10 stocks we like better than American Assets Trust When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. | Questions and Answers: Duration: 59 minutes Call participants: Adam Wyll -- Executive Vice President and Chief Operating Officer Ernest S. Rady -- Chairman, President and Chief Executive Officer Robert Barton -- Executive Vice President and Chief Financial Officer Steve Center -- Vice President of Office Properties Jerry Gammieri -- Vice President of Construction and Development Abigail Rex -- Director, Multifamily, San Diego Chris Sullivan -- Vice President of Retail Properties Haendel St. Juste -- Mizuho -- Analyst Ronald Kamdem -- Morgan Stanley -- Analyst Jason Idoine -- RBC Capital Markets -- Analyst Mitchell Germain -- JMP Securities -- Analyst Elvis Rodriguez -- Bank of America Merrill Lynch -- Analyst Todd Thomas -- KeyBanc Capital Markets -- Analyst Tammy Afik -- Wells Fargo -- Analyst More AAT analysis All earnings call transcripts 10 stocks we like better than American Assets Trust When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. American Assets Trust Inc (NYSE: AAT) Q3 2019 Earnings Call Oct 30, 2019, 11:00 a.m. So I find this announcement interesting, and I'm just curious if you could talk about what this means for AAT? | Questions and Answers: Duration: 59 minutes Call participants: Adam Wyll -- Executive Vice President and Chief Operating Officer Ernest S. Rady -- Chairman, President and Chief Executive Officer Robert Barton -- Executive Vice President and Chief Financial Officer Steve Center -- Vice President of Office Properties Jerry Gammieri -- Vice President of Construction and Development Abigail Rex -- Director, Multifamily, San Diego Chris Sullivan -- Vice President of Retail Properties Haendel St. Juste -- Mizuho -- Analyst Ronald Kamdem -- Morgan Stanley -- Analyst Jason Idoine -- RBC Capital Markets -- Analyst Mitchell Germain -- JMP Securities -- Analyst Elvis Rodriguez -- Bank of America Merrill Lynch -- Analyst Todd Thomas -- KeyBanc Capital Markets -- Analyst Tammy Afik -- Wells Fargo -- Analyst More AAT analysis All earnings call transcripts 10 stocks we like better than American Assets Trust When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. American Assets Trust Inc (NYSE: AAT) Q3 2019 Earnings Call Oct 30, 2019, 11:00 a.m. So I find this announcement interesting, and I'm just curious if you could talk about what this means for AAT? | Questions and Answers: Duration: 59 minutes Call participants: Adam Wyll -- Executive Vice President and Chief Operating Officer Ernest S. Rady -- Chairman, President and Chief Executive Officer Robert Barton -- Executive Vice President and Chief Financial Officer Steve Center -- Vice President of Office Properties Jerry Gammieri -- Vice President of Construction and Development Abigail Rex -- Director, Multifamily, San Diego Chris Sullivan -- Vice President of Retail Properties Haendel St. Juste -- Mizuho -- Analyst Ronald Kamdem -- Morgan Stanley -- Analyst Jason Idoine -- RBC Capital Markets -- Analyst Mitchell Germain -- JMP Securities -- Analyst Elvis Rodriguez -- Bank of America Merrill Lynch -- Analyst Todd Thomas -- KeyBanc Capital Markets -- Analyst Tammy Afik -- Wells Fargo -- Analyst More AAT analysis All earnings call transcripts 10 stocks we like better than American Assets Trust When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. American Assets Trust Inc (NYSE: AAT) Q3 2019 Earnings Call Oct 30, 2019, 11:00 a.m. So I find this announcement interesting, and I'm just curious if you could talk about what this means for AAT? |
21011.0 | 2019-09-09 00:00:00 UTC | Ex-Dividend Reminder: Mercury General, American Assets Trust and Retail Opportunity Investments | AAT | https://www.nasdaq.com/articles/ex-dividend-reminder%3A-mercury-general-american-assets-trust-and-retail-opportunity | nan | nan | Looking at the universe of stocks we cover at Dividend Channel, on 9/11/19, Mercury General Corp. (Symbol: MCY), American Assets Trust Inc (Symbol: AAT), and Retail Opportunity Investments Corp (Symbol: ROIC) will all trade ex-dividend for their respective upcoming dividends. Mercury General Corp. will pay its quarterly dividend of $0.6275 on 9/26/19, American Assets Trust Inc will pay its quarterly dividend of $0.28 on 9/26/19, and Retail Opportunity Investments Corp will pay its quarterly dividend of $0.197 on 9/26/19. As a percentage of MCY's recent stock price of $56.00, this dividend works out to approximately 1.12%, so look for shares of Mercury General Corp. to trade 1.12% lower — all else being equal — when MCY shares open for trading on 9/11/19. Similarly, investors should look for AAT to open 0.59% lower in price and for ROIC to open 1.10% lower, all else being equal.
Below are dividend history charts for MCY, AAT, and ROIC, showing historical dividends prior to the most recent ones declared.
Mercury General Corp. (Symbol: MCY):
American Assets Trust Inc (Symbol: AAT):
Retail Opportunity Investments Corp (Symbol: ROIC):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 4.48% for Mercury General Corp., 2.35% for American Assets Trust Inc, and 4.38% for Retail Opportunity Investments Corp.
In Monday trading, Mercury General Corp. shares are currently down about 0.5%, American Assets Trust Inc shares are off about 0.2%, and Retail Opportunity Investments Corp shares are off about 0.6% on the day.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Looking at the universe of stocks we cover at Dividend Channel, on 9/11/19, Mercury General Corp. (Symbol: MCY), American Assets Trust Inc (Symbol: AAT), and Retail Opportunity Investments Corp (Symbol: ROIC) will all trade ex-dividend for their respective upcoming dividends. Similarly, investors should look for AAT to open 0.59% lower in price and for ROIC to open 1.10% lower, all else being equal. Below are dividend history charts for MCY, AAT, and ROIC, showing historical dividends prior to the most recent ones declared. | Looking at the universe of stocks we cover at Dividend Channel, on 9/11/19, Mercury General Corp. (Symbol: MCY), American Assets Trust Inc (Symbol: AAT), and Retail Opportunity Investments Corp (Symbol: ROIC) will all trade ex-dividend for their respective upcoming dividends. Mercury General Corp. (Symbol: MCY): American Assets Trust Inc (Symbol: AAT): Retail Opportunity Investments Corp (Symbol: ROIC): In general, dividends are not always predictable, following the ups and downs of company profits over time. Similarly, investors should look for AAT to open 0.59% lower in price and for ROIC to open 1.10% lower, all else being equal. | Looking at the universe of stocks we cover at Dividend Channel, on 9/11/19, Mercury General Corp. (Symbol: MCY), American Assets Trust Inc (Symbol: AAT), and Retail Opportunity Investments Corp (Symbol: ROIC) will all trade ex-dividend for their respective upcoming dividends. Mercury General Corp. (Symbol: MCY): American Assets Trust Inc (Symbol: AAT): Retail Opportunity Investments Corp (Symbol: ROIC): In general, dividends are not always predictable, following the ups and downs of company profits over time. Similarly, investors should look for AAT to open 0.59% lower in price and for ROIC to open 1.10% lower, all else being equal. | Looking at the universe of stocks we cover at Dividend Channel, on 9/11/19, Mercury General Corp. (Symbol: MCY), American Assets Trust Inc (Symbol: AAT), and Retail Opportunity Investments Corp (Symbol: ROIC) will all trade ex-dividend for their respective upcoming dividends. Similarly, investors should look for AAT to open 0.59% lower in price and for ROIC to open 1.10% lower, all else being equal. Below are dividend history charts for MCY, AAT, and ROIC, showing historical dividends prior to the most recent ones declared. |
21012.0 | 2019-07-31 00:00:00 UTC | American Assets Trust Inc (AAT) Q2 2019 Earnings Call Transcript | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-q2-2019-earnings-call-transcript-2019-08-01 | nan | nan | Image source: The Motley Fool.
American Assets Trust Inc (NYSE: AAT)
Q2 2019 Earnings Call
Jul 31, 2019, 11:00 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Good day, ladies and gentlemen, and welcome to the Q2 2019 American Assets Trust, Inc. Earnings Conference Call. [Operator Instructions].
It is now my pleasure to introduce Senior Vice President, General Counsel, Adam Wyll.
Adam Wyll -- Senior Vice President, General Counsel and Secretary
Good morning. I'd like to thank everyone for joining us today for American Assets Trust 2019 Second Quarter Earnings Conference Call. Joining me on the call are Ernest Rady and Bob Barton. These and other members of our management team are available to take your questions at the conclusion of our prepared remarks. Our 2019 second quarter supplemental disclosure package provides a significant amount of valuable information with respect to the company's operating and financial performance.
The document is currently available on website. Certain matters discussed on this call may be deemed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include any annualized or projected information as well as statements referring to expected or anticipated events or results. Although we believe the expectations reflected in such forward-looking statements are based on reasonable assumptions, our future operations and our actual performance may differ materially from the information contained in our forward-looking statements, and we can give no assurance that these expectations will be attained.
Risks inherent in these assumptions include, but are not limited to, future economic conditions, including interest rates, real estate conditions and the risks and costs of construction. The earnings release and supplemental reporting package that we issued yesterday and our annual report filed on Form 10-K and our other financial disclosure documents provide a more in-depth discussion of risk factors that may affect our financial conditions and results of operations. Additionally, this call will contain non-GAAP financial information, including funds from operations, or FFO; earnings before interest, taxes, depreciation and amortization, or EBITDA; and net operating income, or NOI.
American Assets is providing this information as a supplement to information prepared in accordance with generally accepted accounting principles. Explanations of such non-GAAP items and reconciliations to net income are contained in the company's supplemental operating and financial data for the second quarter of 2019 furnished to the Securities and Exchange Commission, and this information is available on the company's website at www.americanassetstrust.com.
I'll now turn the call over to our Chairman, President and CEO, Ernest Rady, to begin our discussion of second quarter results. Ernest?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Thank you, Adam. That was very eloquent. And good morning, everyone. Thank you for joining American Assets Trust second quarter 2019earnings call We continue to make good progress on all fronts as we continue to focus our efforts on earnings growth, combined with growth and asset value for our shareholders. We saw a lot of positive developments during the second quarter '19, and we remain very optimistic going forward.
First of all, I want to welcome all of our new stockholders, and we sincerely appreciate your confidence and support. The whole transaction turned out well for everyone. The existing stockholders got enhanced marketability and another investment property for growth. Our new stockholders got immediate appreciation. So far, we've had better-than-expected leasing success with our recent acquisition of La Jolla Commons as we were very fortunate to be able to source and sign a new 73,000 square-foot lease within 2 weeks of closing. Bob will talk more about the details of the acquisition and impact of the recent lease that was signed.
Secondly, at Oregon Square, we have completed the modern renovation of the 830 building and increased the square footage from 33,000 square feet to 55,000 square feet. The 830 building is now a 100% leased to WeWork at current market rates, slightly above our initial estimates. We are now pursuing to do a similar modern renovation on the adjacent 710 building at Oregon Square and prospective tenants of ours began indicating interest.
Also, during the second quarter, our sustainability achievements include Hassalo on Eighth in Portland being designated as the first in the world to receive neighborhood LEED green certification, the Landmark at One Market being designated as the first BREEAM USA certification in San Francisco. BREEAM is B-R-E-E-A-M. We filed our first comprehensive sustainability report with GRESB. We posted our net asset value internal estimate of $51.50 a share on our website, and Bob will discuss that in more detailed later. In our view, the office markets in both San Francisco and Bellevue, Washington remain strong.
The Safeway store at Waikele Center remains on track to open in the fourth quarter of '19. We continue to reinvest and improve our existing assets and remain optimistic about the future of this portfolio and our ability to narrow the price-to-net asset value gap. On behalf of all of us at American Assets Trust, we thank you for your confidence and allowing us to manage your company, and we look forward to your continued support.
I'll now turn it over to Bob Barton, our Executive Vice President and CFO. Bob, please.
Robert Barton -- Executive Vice President and Chief Financial Officer
Good morning, and thank you, Ernest. Last night, we reported second quarter 2019 FFO of $0.51 per share and net income attributable to common stockholders of $0.18 per share for the second quarter. Second quarter results are primarily comprised of the following 4 highlights. First, on June 20, we acquired the La Jolla Commons office campus in San Diego comprised of 2 Class A+ office towers in University Town Center, also known as UTC, one of the most desirable submarkets in the city of San Diego, which we believe is on the forefront of significant and prolonged growth.
The acquisition also includes a fully entitled development parcel for an approximately 224,000 square-foot Class A office tower. La Jolla Commons I was built in 2008 and consists of approximately 303,000 square feet that was approximately 72% leased at the time of acquisition to a diversified credit tenant base. La Jolla Commons II was built in 2014 and is 100% leased to LPL Financial that as of today has a market cap of approximately $7 billion and a weighted average lease term remaining at La Jolla Commons of 9.9 years. As of the date of the acquisition, the combined project was approximately 88% leased in a submarket with approximately 97% occupancy.
Our underwriting assumed a lease-up of approximate -- to approximately 96% leased by the beginning of the third quarter of 2020. We saw the scarcity of large contiguous spaces in the UTC submarket and were able to sign a new lease with Alumina less than 2 weeks after our closing at rates that were approximately 10% higher than what we modeled in our underwriting. This also confirms that our in-place rents are approximately 10% or more below market. Note that as of today, Alumina has a market cap of approximately $44 billion.
With the signing of this Alumina lease less than 2 weeks after we closed the acquisition, La Jolla Commons combined lease percentage is now 96% leased, a year sooner than we expected. The net purchase price of approximately $514 million was payed with approximately $472 million of net proceeds received from the secondary offering, with the balance coming from our existing credit facility. The NOI yield that we modeled in our due diligence was approximately 5.4% on in-place NOI and 5.6% at year-end 2019 and a stabilized yield of 6% in 2020, factoring in a 7% vacancy factor.
With the signing of Alumina, our stabilized NOI yield for year-end 2019 is approximately 6.3%, and year-end 2020 is also expected to be approximately 6.3% due to the midyear start date in 2020 of this new lease. The average NOI yield of the property over the term of the next 10 years is to -- is estimated to be approximately 7%. Our unlevered IRR expectation on this transaction with the signing of the Alumina lease is expected to increase to approximately 8.25%. In structuring this acquisition, our focus was to protect and enhance our existing FFO earnings growth estimates that we have previously shared and continue to reduce our net debt to EBITDA to 5.5x or less, while factoring in the short-term NAV dilution for consistent long-term earnings growth that we believe will produce long-term NAV accretion.
Secondly, in connection with the acquisition of La Jolla Commons, we did a 1-day marketed follow-on equity market, the first since our IPO in January 2011, and we issued 10,925,000 shares of common stock at $44.75 per share. The shares issued were approximately a 17% expansion of our existing common stock shares outstanding. The offering was oversubscribed, and we believe the shares were well received and have traded well since the offering. Also, we believe the expansion of shares has significantly increased the average daily flow, which was also one of our objectives, combined with our focus on earnings growth and balance sheet debt metrics.
Third, yesterday, July 30, we entered into a no-purchase agreement for the private placement of $150 million unsecured 3.91% senior guaranteed notes with an 11-year maturity. A month earlier, we entered into a treasury rate lock to manage the risk of the interest rate volatility. Factoring in the treasury rate lock, the effective weighted average interest rate will be approximately 3.88% for the 11 years. Proceeds from the private placement offering will be used to repay the outstanding balance on our existing credit facility and leave approximately $60 million of cash on the balance sheet.
After the private placement offering, our pro forma net debt to EBITDA is estimated to be 5.5x at year-end 2019 and 4.8x at year-end 2020 and 4.6x at year-end 2020 based on our current operating model. Fourth, we posted our annual net asset value internal estimate on our website based on our forward NOI estimates in the first quarter. Our NAV process takes about 8 weeks to complete, and we incorporate input from respected brokers in our various markets as well as our own internal knowledge of our markets and recent transactions.
Among other data points, we focus on cap rates, supply/demand constraints in particular markets, weighed average cost of capital, dollar per square foot or dollar per unit, unlevered IRRs and certain ceilings that are perceived in each market. We look at the valuation of each asset based on metrics that we would look at when making an acquisition. Our conclusion was that our 2019 NAV internal estimate is $51.50 per share, which is approximately a 3% increase over our 2118 -- over our 2018 estimate. The Google lease that was signed at Landmark at One Market in San Francisco was a big contributor.
NAV estimates are just that, an estimate at a point in time. It is not a perfect science, but we try to be as accurate as possible. And if we're going to air, we try to air on the side of being conservative. The average NAV estimate of sell-side research analysts is approximately $47.88 per share, ranging from a low of $43.74 to a high of $51.86. The reason that we post our internal NAV is to help both investors and research analysts understand how management views our diversified portfolio of high-quality office, multifamily and retail in coastal West Coast markets and to allow investors and research analysts to use the data that we post to perform their own independent NAV analysis on our portfolio.
If we were simply one asset class that is easy to understand, we would probably not go through the effort to post our NAV. Let's talk about retail. Our retail portfolio ended the quarter at 97.5% leased, combined with the highest annualized base rents among our peers. On a comparative year-over-year basis, our retail occupancy increased approximately 88 basis points over the second quarter of 2018, leaving approximately 78,000 square feet vacant in our 3-million-plus square foot retail portfolio. During the trailing 4 quarters, 67 retail leases were signed, representing approximately 401,000 square feet, or 13% of our total retail portfolio. Of these leases signed, 52 leases consisting of approximately 216,000 square feet were for spaces previously leased.
On a comparable basis, the annual cash basis rent increased 7% over the prior leases. Our office portfolio ended the quarter at approximately 93.7% leased. On a comparative basis, when you exclude La Jolla Commons from 2019 and factor in 2018 the vacancies at Torrey Point in San Diego and Oregon Square in Portland, our office occupancy experienced an increase of approximately 503 basis points on a year-over-year basis, primarily due to an increase in occupancy at Torrey Point, Oregon Square and City Center Bellevue. Office vacancy at the end of 2Q '19 is 6.3% or 216 square feet -- 216,000 square feet of our 3.4 million square foot office portfolio. It's also important to note that we believe our in-place rents for the office portfolio are approximately 19% below market. During the trailing 4 quarters, 63 new office leases were signed, representing approximately 695,000 square feet or 20% of our total office portfolio.
Of these leases signed during the year, 42 leases, consisting of approximately 518,000 square feet, were for spaces previously leased. On a comparable basis, the annual cash basis rent increased 45.3% over the prior leases. Let's talk about same-store NOI for a moment. Same-store retail cash NOI decreased in the second quarter by 3.3%, which translates into less than $0.01 of FFO. The decrease primarily relates to decreased rents at Carmel Mountain Plaza after we terminated the ground lease with the ground lessee, who owned the former Sears building in exchange for a noncash termination fee equal to the net present value of the former Sears building of approximately $4.5 million.
Within approximately 2 weeks after closing that transaction in Q1 2019, we signed a new lease with At Home for the entire 108,000 square feet, which upon opening earlier this month, reactivated the easterly end of the shopping center. We began straight-line rent in Q2 2019, and cash rents begin in August 2019. Same-store office cash NOI decreased 10% in the second quarter, primarily due to the termination fee of approximately $2.4 million received in 2Q '18 from a tenant at our Lloyd Center building. The tenant was replaced within approximately 4 weeks with Genentech, at higher rents reflecting the current market. Genentech took possession with the straight-line earnings beginning in Q2 '19 and cash rents beginning at the end of Q4 '19.
If we exclude the 2Q '18 termination fee from our calculation, same-store cash NOI related to our office segment increased 2.1%, primarily due to the rental abatements burning off on new or renewed tenants at City Center Bellevue. Same-store multifamily cash NOI increased 4.4% primarily due to increased cash NOI achieved at our Loma Palisades apartments in San Diego and Hassalo at Eighth apartments in Portland. The increase in Loma Palisades was primarily due to increased base rents of approximately 6% coupled with a reduction in rental expenses of approximately 3%.
At Hassalo at Eighth, total revenues were up slightly, while our rental expenses decreased approximately 18%, primarily due to efficiencies realized with our NORM recycled water program as well as reductions in payroll, facilities, services, and insurance expenses. As previously announced, Waikiki Beach Walk, our mixed-use property consisting of Embassy Suites hotel and Waikiki Beach Walk Retail was moved out of same-store designation beginning in Q1 '19 as the mixed-use property undergoes a significant renovation, which began at the beginning of the year, including stalling work on all outdoor balconies and exterior painting on both towers.
As the renovation work is ongoing for the second quarter of 2019, our mixed-use properties reported a combined slight decrease in cash NOI of less than 0.5 percent. And looking at the results separately, the Embassy Suites hotel cash NOI decreased 6%, primarily due to a reduction in revenue resulting from a reduction in occupancy percentage and RevPAR and an increase in real estate taxes. At Waikiki Beach Walk Retail, cash NOI increased 6%, primarily due to increases in base rent and parking income, partially offset by an increase in real estate taxes.
Tenant sales remained high at $1,061 per square foot for the rolling 12 months, as our tenants continued to benefit from the excellent location and good economy. Turning to our second quarter results, FFO decreased approximately $0.05 to $0.51 per -- FFO per share compared to the first quarter. The second quarter results include the following activity. First, the significant leases commenced at Lloyd Center Tower and City Center Bellevue. Although the leases have commenced, cash rent won't commence until later in the fourth quarter. Accordingly, the net amount of straight-line revenues recognized have increased during the second quarter, resulting in an increase of $0.026 per FFO share compared to the first quarter.
Second, the increase in NOI related to the acquisition of La Jolla Commons on June 20 resulted in an increase of $0.014 per FFO share compared to the first quarter. Third, as previously mentioned, we received a onetime noncash termination fee of approximately $4.5 million in Q1 2019 on account of termination of the Sears ground lease, which provided approximately $0.068 of FFO per share in Q1 but no corresponding amount in Q2. Finally, the equity offering, which closed on June 14, increased our outstanding common shares by 10,950,000 shares.
The increased weighted average outstanding common shares in 2Q '19 had a dilutive impact of approximately $0.022 per FFO share compared to the first quarter. Now, as we look at our balance sheet and liquidity at the end of the second quarter, we had approximately $300 million in liquidity, comprised of $45 million of cash and cash equivalents and $255 million of availability on our line of credit. Our leverage, which we measure in terms of net debt to EBITDA, was 6.7x, as expected, at the end of the second quarter, although our continued focus is to get our net debt to EBITDA back down to 5.5x or below.
As I have previously discussed, based on our current model, our pro forma net debt to EBITDA is estimated to be approximately 5.5x at year-end 2019, 4.8x at year-end '20 and 4.6x at year-end 2021. Lastly, we are reaffirming our 2019 FFO guidance range of $2.18 to $2.26 per FFO share with a midpoint of $2.22 per FFO share. When I compare our 3Q '19 consensus of $0.569 FFO per share on my Bloomberg screen to our internal model, we are lower by approximately $0.01 of FFO share. We believe this difference is primarily related to the recently completed follow-on equity transaction and the dilution based on the weighted average shares outstanding that were issued.
As always, our guidance and these prepared remarks exclude any impact from future acquisitions, dispositions, equity issuances or repurchases, future debt refinancings or repayments other than what we have already discussed. We will continue our best to be as transparent as possible and share with you our analysis and interpretations of our quarterly numbers.
Operator, I'll now turn the call back over to you for questions.
Questions and Answers:
Operator
[Operator Instructions] And our first question comes from the line of Rich Hill with Morgan Stanley. Your line is now open.
Rich Hill -- Morgan Stanley -- Analyst
Hey good morning guys. Bob, I want to come back to La Jolla Commons. Obviously, you're ramping it up. It's going to be stabilized faster than anticipated. Don't think that really starts until 2020. But I'm thinking about sort of the ramp that you provided earlier this year to 2021 and given that it's going to be stabilized maybe a year before you anticipated, could you maybe help us quantify or maybe help us think about how incremental that a year additional stabilization will be to the bridge you previously provided?
Robert Barton -- Executive Vice President and Chief Financial Officer
Well, Rich, thanks for the question. We'll be issuing guidance on our Q3 '19 call, but from where we sit today and looking at our corporate operating model, the numbers that were in our bridge seem to be conservative.
Rich Hill -- Morgan Stanley -- Analyst
Okay, helpful. And just to reiterate, or to clarify, did I hear you correctly that in 2020 you expect around 7% NOI from La Jolla Commons?
Robert Barton -- Executive Vice President and Chief Financial Officer
That was on a average. The NOI yield over the average term over the next decade will be 7%. So it's going to ramp up from 6.3%, increasing approximately 50 -- 25 to 50 basis points a year till exceeds 8%. And if you look at the average of that NOI yield over that term, it will be approximately 7%.
Rich Hill -- Morgan Stanley -- Analyst
Okay. Thank you. That's -- that's it for me.
Robert Barton -- Executive Vice President and Chief Financial Officer
Thank you Richard.
Adam Wyll -- Senior Vice President, General Counsel and Secretary
Thanks Rick.
Operator
Thank you. [Operator Instructions] Our next question comes from the line of Craig Schmidt with Bank of America. Your line is now open.
Craig Schmidt -- Bank of America -- Analyst
Thank you. Morning. I was wondering the mix is starting to favor office. As you look forward to 2020 and beyond, what do you think the balance and the mix of your different components of -- the different mixed uses in office multifamily, retail could be going forward?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
As I've said -- this is Ernest, Craig. As I've said on our investor presentation, our job is not to be a retail or office or an apartment REIT. Our job is to create wealth for stockholders. And as we go forward, we think we have significant opportunities within our portfolio, and we continue to look at opportunities outside of our portfolio, but in the same 3 asset classes and coastal West Coast focus. So I'd like to tell you exactly what it's going to be, but we're going to be, hopefully, where the bucks are, and we're going to enhance our shareholder value.
Robert Barton -- Executive Vice President and Chief Financial Officer
Craig, its Bob. Let me just add to Ernest's comment on that. It's that I love the way he describes that we are -- we're really a wealth builder. But having said that, we understand that there is a cloud over retail, and so there is no current intention on acquiring more retail. And we think the growth in our NOI will really come from office and multifamily going forward.
Craig Schmidt -- Bank of America -- Analyst
Okay. Thank you.
Robert Barton -- Executive Vice President and Chief Financial Officer
Thank you.
Operator
Thank you. And our next question comes from the line of Mitch Germain with JMP securities. Your line is now.
Mitch Germain -- JMP securities -- Analyst
Thanks for taking my question. To that point, would you consider maybe selling one of your retail assets, maybe throwing a cap rate out there and using some of that as a means to delever?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Sure. If we saw a better opportunity to enhance shareholder wealth, that's what we get up every morning for and look forward to those opportunities. If we had an opportunity to sell a retail asset that made sense and acquire either another retail asset or another asset in the 2 types of properties we own, we'd look at it. Over the years, this portfolio got built by doing $2 billion worth of trades, and we're not out of the trade business yet.
Mitch Germain -- JMP securities -- Analyst
Great. And just on the acquisition that you guys completed this quarter. Maybe just talk about the process? Was it a fully marketed transaction? What sort of capital could you possibly have been bidding against? Maybe just maybe describe how the process played out?
Ernest S. Rady -- Chairman, President and Chief Executive Officer
I don't know that I can really do that because we weren't involved until we had the opportunity presented to us, in effect, a take it or leave basis. We acted very quickly, and I think that you'd have to talk to the brokers and find out exactly what their process was. I didn't comment on it because I wasn't involved. All we were involved is when it was presented to us, we said we love it, we'd like to do it, we moved on it and we closed it.
Robert Barton -- Executive Vice President and Chief Financial Officer
Mitch, let me just add to that, that when we heard about it, it was not on the market and it was off market. And we moved quickly once we had a handshake.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Off market, sort of a euphemism. I don't know what that was.
Mitch Germain -- JMP securities -- Analyst
Agreed. And then last question on the deleveraging. Obviously, a portion of that is the equity raise though a portion of that obviously is some of the income coming online from the leasing, right? Is that the way that we should think about how the deleveraging plays out over the course of the next 18 months?
Robert Barton -- Executive Vice President and Chief Financial Officer
Yes, yes, that deleveraging, nothing additional is needed. That's all organically going forward.
Mitch Germain -- JMP securities -- Analyst
Thank you.
Operator
Thank you. And I'm showing no further questions at this time. So with that, I'll turn the call back over to Chairman and CEO, Ernest Rady, for closing remarks.
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Thanks, again, for all our new shareholders joining us. We're extremely delighted about our position now. We think that our future over the next number of years is going to be a pleasant surprise for all of us, and we look forward to sharing that with you as it evolves. Thank you, again, for joining us.
Operator
[Operator Closing Remarks]
Duration: 31 minutes
Call participants:
Adam Wyll -- Senior Vice President, General Counsel and Secretary
Ernest S. Rady -- Chairman, President and Chief Executive Officer
Robert Barton -- Executive Vice President and Chief Financial Officer
Rich Hill -- Morgan Stanley -- Analyst
Craig Schmidt -- Bank of America -- Analyst
Mitch Germain -- JMP securities -- Analyst
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | American Assets Trust Inc (NYSE: AAT) Q2 2019 Earnings Call Jul 31, 2019, 11:00 a.m. Operator [Operator Closing Remarks] Duration: 31 minutes Call participants: Adam Wyll -- Senior Vice President, General Counsel and Secretary Ernest S. Rady -- Chairman, President and Chief Executive Officer Robert Barton -- Executive Vice President and Chief Financial Officer Rich Hill -- Morgan Stanley -- Analyst Craig Schmidt -- Bank of America -- Analyst Mitch Germain -- JMP securities -- Analyst More AAT analysis All earnings call transcripts 10 stocks we like better than American Assets Trust When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Within approximately 2 weeks after closing that transaction in Q1 2019, we signed a new lease with At Home for the entire 108,000 square feet, which upon opening earlier this month, reactivated the easterly end of the shopping center. | Operator [Operator Closing Remarks] Duration: 31 minutes Call participants: Adam Wyll -- Senior Vice President, General Counsel and Secretary Ernest S. Rady -- Chairman, President and Chief Executive Officer Robert Barton -- Executive Vice President and Chief Financial Officer Rich Hill -- Morgan Stanley -- Analyst Craig Schmidt -- Bank of America -- Analyst Mitch Germain -- JMP securities -- Analyst More AAT analysis All earnings call transcripts 10 stocks we like better than American Assets Trust When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. American Assets Trust Inc (NYSE: AAT) Q2 2019 Earnings Call Jul 31, 2019, 11:00 a.m. On a comparative basis, when you exclude La Jolla Commons from 2019 and factor in 2018 the vacancies at Torrey Point in San Diego and Oregon Square in Portland, our office occupancy experienced an increase of approximately 503 basis points on a year-over-year basis, primarily due to an increase in occupancy at Torrey Point, Oregon Square and City Center Bellevue. | Operator [Operator Closing Remarks] Duration: 31 minutes Call participants: Adam Wyll -- Senior Vice President, General Counsel and Secretary Ernest S. Rady -- Chairman, President and Chief Executive Officer Robert Barton -- Executive Vice President and Chief Financial Officer Rich Hill -- Morgan Stanley -- Analyst Craig Schmidt -- Bank of America -- Analyst Mitch Germain -- JMP securities -- Analyst More AAT analysis All earnings call transcripts 10 stocks we like better than American Assets Trust When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. American Assets Trust Inc (NYSE: AAT) Q2 2019 Earnings Call Jul 31, 2019, 11:00 a.m. On a comparative year-over-year basis, our retail occupancy increased approximately 88 basis points over the second quarter of 2018, leaving approximately 78,000 square feet vacant in our 3-million-plus square foot retail portfolio. | Operator [Operator Closing Remarks] Duration: 31 minutes Call participants: Adam Wyll -- Senior Vice President, General Counsel and Secretary Ernest S. Rady -- Chairman, President and Chief Executive Officer Robert Barton -- Executive Vice President and Chief Financial Officer Rich Hill -- Morgan Stanley -- Analyst Craig Schmidt -- Bank of America -- Analyst Mitch Germain -- JMP securities -- Analyst More AAT analysis All earnings call transcripts 10 stocks we like better than American Assets Trust When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. American Assets Trust Inc (NYSE: AAT) Q2 2019 Earnings Call Jul 31, 2019, 11:00 a.m. The shares issued were approximately a 17% expansion of our existing common stock shares outstanding. |
21013.0 | 2019-06-25 00:00:00 UTC | First Week of August 16th Options Trading For American Assets Trust (AAT) | AAT | https://www.nasdaq.com/articles/first-week-of-august-16th-options-trading-for-american-assets-trust-aat-2019-06-25 | nan | nan | Investors in American Assets Trust Inc (Symbol: AAT) saw new options begin trading this week, for the August 16th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAT options chain for the new August 16th contracts and identified one put and one call contract of particular interest.
The put contract at the $45.00 strike price has a current bid of 40 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $45.00, but will also collect the premium, putting the cost basis of the shares at $44.60 (before broker commissions). To an investor already interested in purchasing shares of AAT, that could represent an attractive alternative to paying $47.27/share today.
Because the $45.00 strike represents an approximate 5% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 76%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 0.89% return on the cash commitment, or 6.24% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for American Assets Trust Inc, and highlighting in green where the $45.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $50.00 strike price has a current bid of 25 cents. If an investor was to purchase shares of AAT stock at the current price level of $47.27/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $50.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 6.30% if the stock gets called away at the August 16th expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if AAT shares really soar, which is why looking at the trailing twelve month trading history for American Assets Trust Inc, as well as studying the business fundamentals becomes important. Below is a chart showing AAT's trailing twelve month trading history, with the $50.00 strike highlighted in red:
Considering the fact that the $50.00 strike represents an approximate 6% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 77%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 0.53% boost of extra return to the investor, or 3.71% annualized, which we refer to as the YieldBoost.
The implied volatility in the put contract example is 23%, while the implied volatility in the call contract example is 20%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 251 trading day closing values as well as today's price of $47.27) to be 19%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Of course, a lot of upside could potentially be left on the table if AAT shares really soar, which is why looking at the trailing twelve month trading history for American Assets Trust Inc, as well as studying the business fundamentals becomes important. Below is a chart showing AAT's trailing twelve month trading history, with the $50.00 strike highlighted in red: Considering the fact that the $50.00 strike represents an approximate 6% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Assets Trust Inc (Symbol: AAT) saw new options begin trading this week, for the August 16th expiration. | Below is a chart showing AAT's trailing twelve month trading history, with the $50.00 strike highlighted in red: Considering the fact that the $50.00 strike represents an approximate 6% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Assets Trust Inc (Symbol: AAT) saw new options begin trading this week, for the August 16th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAT options chain for the new August 16th contracts and identified one put and one call contract of particular interest. | Below is a chart showing AAT's trailing twelve month trading history, with the $50.00 strike highlighted in red: Considering the fact that the $50.00 strike represents an approximate 6% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Assets Trust Inc (Symbol: AAT) saw new options begin trading this week, for the August 16th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAT options chain for the new August 16th contracts and identified one put and one call contract of particular interest. | At Stock Options Channel, our YieldBoost formula has looked up and down the AAT options chain for the new August 16th contracts and identified one put and one call contract of particular interest. Below is a chart showing AAT's trailing twelve month trading history, with the $50.00 strike highlighted in red: Considering the fact that the $50.00 strike represents an approximate 6% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Assets Trust Inc (Symbol: AAT) saw new options begin trading this week, for the August 16th expiration. |
21014.0 | 2019-06-17 00:00:00 UTC | AAT Crosses Above Average Analyst Target | AAT | https://www.nasdaq.com/articles/aat-crosses-above-average-analyst-target-2019-06-17 | nan | nan | In recent trading, shares of American Assets Trust Inc (Symbol: AAT) have crossed above the average analyst 12-month target price of $46.67, changing hands for $47.25/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level. Analyst reaction may also depend on the fundamental business developments that may be responsible for driving the stock price higher — if things are looking up for the company, perhaps it is time for that target price to be raised.
There are 3 different analyst targets contributing to that average for American Assets Trust Inc, but the average is just that — a mathematical average. There are analysts with lower targets than the average, including one looking for a price of $45.00. And then on the other side of the spectrum one analyst has a target as high as $49.00. The standard deviation is $2.081.
But the whole reason to look at the average AAT price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with AAT crossing above that average target price of $46.67/share, investors in AAT have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $46.67 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? Below is a table showing the current thinking of the analysts that cover American Assets Trust Inc:
The average rating presented in the last row of the above table above is from 1 to 5 where 1 is Strong Buy and 5 is Strong Sell. This article used data provided by Zacks Investment Research via Quandl.com. Get the latest Zacks research report on AAT — FREE.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In recent trading, shares of American Assets Trust Inc (Symbol: AAT) have crossed above the average analyst 12-month target price of $46.67, changing hands for $47.25/share. But the whole reason to look at the average AAT price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with AAT crossing above that average target price of $46.67/share, investors in AAT have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $46.67 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? | In recent trading, shares of American Assets Trust Inc (Symbol: AAT) have crossed above the average analyst 12-month target price of $46.67, changing hands for $47.25/share. But the whole reason to look at the average AAT price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with AAT crossing above that average target price of $46.67/share, investors in AAT have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $46.67 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? | And so with AAT crossing above that average target price of $46.67/share, investors in AAT have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $46.67 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? In recent trading, shares of American Assets Trust Inc (Symbol: AAT) have crossed above the average analyst 12-month target price of $46.67, changing hands for $47.25/share. But the whole reason to look at the average AAT price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. | In recent trading, shares of American Assets Trust Inc (Symbol: AAT) have crossed above the average analyst 12-month target price of $46.67, changing hands for $47.25/share. But the whole reason to look at the average AAT price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with AAT crossing above that average target price of $46.67/share, investors in AAT have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $46.67 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? |
21015.0 | 2019-06-12 00:00:00 UTC | Wednesday's ETF with Unusual Volume: XSLV | AAT | https://www.nasdaq.com/articles/wednesdays-etf-unusual-volume%3A-xslv-2019-06-12 | nan | nan | The Invesco S&P SmallCap Low Volatility ETF (XSLV) is seeing unusually high volume in afternoon trading Wednesday, with over 1.9 million shares traded versus three month average volume of about 237,000. Shares of XSLV were up about 0.3% on the day.
Components of that ETF with the highest volume on Wednesday were American Assets Trust (AAT), trading down about 0.2% with over 2.7 million shares changing hands so far this session, and New York Mortgage Trust (NYMT), up about 1.2% on volume of over 1.5 million shares. South Jersey Industries (SJI) is the component faring the best Wednesday, up by about 2.1% on the day, while New Media Investment Group (NEWM) is lagging other components of the Invesco S&P SmallCap Low Volatility ETF, trading lower by about 2.2%.
VIDEO: Wednesday's ETF with Unusual Volume: XSLV
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Components of that ETF with the highest volume on Wednesday were American Assets Trust (AAT), trading down about 0.2% with over 2.7 million shares changing hands so far this session, and New York Mortgage Trust (NYMT), up about 1.2% on volume of over 1.5 million shares. The Invesco S&P SmallCap Low Volatility ETF (XSLV) is seeing unusually high volume in afternoon trading Wednesday, with over 1.9 million shares traded versus three month average volume of about 237,000. South Jersey Industries (SJI) is the component faring the best Wednesday, up by about 2.1% on the day, while New Media Investment Group (NEWM) is lagging other components of the Invesco S&P SmallCap Low Volatility ETF, trading lower by about 2.2%. | Components of that ETF with the highest volume on Wednesday were American Assets Trust (AAT), trading down about 0.2% with over 2.7 million shares changing hands so far this session, and New York Mortgage Trust (NYMT), up about 1.2% on volume of over 1.5 million shares. The Invesco S&P SmallCap Low Volatility ETF (XSLV) is seeing unusually high volume in afternoon trading Wednesday, with over 1.9 million shares traded versus three month average volume of about 237,000. South Jersey Industries (SJI) is the component faring the best Wednesday, up by about 2.1% on the day, while New Media Investment Group (NEWM) is lagging other components of the Invesco S&P SmallCap Low Volatility ETF, trading lower by about 2.2%. | Components of that ETF with the highest volume on Wednesday were American Assets Trust (AAT), trading down about 0.2% with over 2.7 million shares changing hands so far this session, and New York Mortgage Trust (NYMT), up about 1.2% on volume of over 1.5 million shares. The Invesco S&P SmallCap Low Volatility ETF (XSLV) is seeing unusually high volume in afternoon trading Wednesday, with over 1.9 million shares traded versus three month average volume of about 237,000. South Jersey Industries (SJI) is the component faring the best Wednesday, up by about 2.1% on the day, while New Media Investment Group (NEWM) is lagging other components of the Invesco S&P SmallCap Low Volatility ETF, trading lower by about 2.2%. | Components of that ETF with the highest volume on Wednesday were American Assets Trust (AAT), trading down about 0.2% with over 2.7 million shares changing hands so far this session, and New York Mortgage Trust (NYMT), up about 1.2% on volume of over 1.5 million shares. The Invesco S&P SmallCap Low Volatility ETF (XSLV) is seeing unusually high volume in afternoon trading Wednesday, with over 1.9 million shares traded versus three month average volume of about 237,000. South Jersey Industries (SJI) is the component faring the best Wednesday, up by about 2.1% on the day, while New Media Investment Group (NEWM) is lagging other components of the Invesco S&P SmallCap Low Volatility ETF, trading lower by about 2.2%. |
21016.0 | 2019-06-11 00:00:00 UTC | Financial Sector Update for 06/11/2019: AAT,WFC,BEN | AAT | https://www.nasdaq.com/articles/financial-sector-update-for-06-11-2019%3A-aatwfcben-2019-06-11 | nan | nan | Top Financial Stocks
JPM +0.46%
BAC +0.80%
WFC -0.14%
C +0.98%
USB +0.62%
Financial stocks were declining in afternoon trading, including a 0.1% slide for the NYSE Financial Index while shares of financial companies in the S&P 500 were edging almost 0.1% higher. The Philadelphia Housing Index was sinking 1.3%.
Among financial stocks moving on news:
(-) American Assets Trust (AAT) fell 4% after late Monday disclosing plans for a public offering of 9.5 million shares of its common stock. The real estate investment trust also will provide the underwriters with a 30-day option to buy up to 1.43 million additional shares to cover potential overallotments. Net proceeds will fund the company's $525 million purchase of La Jolla Commons in San Diego, also announced Monday night.
In other sector news:
(-) Wells Fargo (WFC) was fractionally lower in recent trading after the bank holding company Tuesday said it was selling a majority stake in its Eastdil Secured private real estate investment banking division for an undisclosed price. The transaction follows the recent management-led recapitalization of Eastdil in partnership with selected institutional clients and Singapore-based Temasek.
(+) Franklin Resources (BEN) was marginally higher after the investment company reported a 3.5% drop in assets under management on May 31 compared with the end of the prior month, falling to $695 billion from $720.5 billion in assets on April 30.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among financial stocks moving on news: (-) American Assets Trust (AAT) fell 4% after late Monday disclosing plans for a public offering of 9.5 million shares of its common stock. The real estate investment trust also will provide the underwriters with a 30-day option to buy up to 1.43 million additional shares to cover potential overallotments. Net proceeds will fund the company's $525 million purchase of La Jolla Commons in San Diego, also announced Monday night. | Among financial stocks moving on news: (-) American Assets Trust (AAT) fell 4% after late Monday disclosing plans for a public offering of 9.5 million shares of its common stock. Financial stocks were declining in afternoon trading, including a 0.1% slide for the NYSE Financial Index while shares of financial companies in the S&P 500 were edging almost 0.1% higher. The real estate investment trust also will provide the underwriters with a 30-day option to buy up to 1.43 million additional shares to cover potential overallotments. | Among financial stocks moving on news: (-) American Assets Trust (AAT) fell 4% after late Monday disclosing plans for a public offering of 9.5 million shares of its common stock. Financial stocks were declining in afternoon trading, including a 0.1% slide for the NYSE Financial Index while shares of financial companies in the S&P 500 were edging almost 0.1% higher. In other sector news: (-) Wells Fargo (WFC) was fractionally lower in recent trading after the bank holding company Tuesday said it was selling a majority stake in its Eastdil Secured private real estate investment banking division for an undisclosed price. | Among financial stocks moving on news: (-) American Assets Trust (AAT) fell 4% after late Monday disclosing plans for a public offering of 9.5 million shares of its common stock. The Philadelphia Housing Index was sinking 1.3%. The real estate investment trust also will provide the underwriters with a 30-day option to buy up to 1.43 million additional shares to cover potential overallotments. |
21017.0 | 2019-04-25 00:00:00 UTC | AAT Crosses Above Average Analyst Target | AAT | https://www.nasdaq.com/articles/aat-crosses-above-average-analyst-target-2019-04-25 | nan | nan | In recent trading, shares of American Assets Trust Inc (Symbol: AAT) have crossed above the average analyst 12-month target price of $45.33, changing hands for $45.95/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level. Analyst reaction may also depend on the fundamental business developments that may be responsible for driving the stock price higher — if things are looking up for the company, perhaps it is time for that target price to be raised.
There are 3 different analyst targets contributing to that average for American Assets Trust Inc, but the average is just that — a mathematical average. There are analysts with lower targets than the average, including one looking for a price of $43.00. And then on the other side of the spectrum one analyst has a target as high as $48.00. The standard deviation is $2.516.
But the whole reason to look at the average AAT price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with AAT crossing above that average target price of $45.33/share, investors in AAT have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $45.33 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? Below is a table showing the current thinking of the analysts that cover American Assets Trust Inc:
The average rating presented in the last row of the above table above is from 1 to 5 where 1 is Strong Buy and 5 is Strong Sell. This article used data provided by Zacks Investment Research via Quandl.com. Get the latest Zacks research report on AAT — FREE.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In recent trading, shares of American Assets Trust Inc (Symbol: AAT) have crossed above the average analyst 12-month target price of $45.33, changing hands for $45.95/share. But the whole reason to look at the average AAT price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with AAT crossing above that average target price of $45.33/share, investors in AAT have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $45.33 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? | In recent trading, shares of American Assets Trust Inc (Symbol: AAT) have crossed above the average analyst 12-month target price of $45.33, changing hands for $45.95/share. But the whole reason to look at the average AAT price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with AAT crossing above that average target price of $45.33/share, investors in AAT have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $45.33 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? | And so with AAT crossing above that average target price of $45.33/share, investors in AAT have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $45.33 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? In recent trading, shares of American Assets Trust Inc (Symbol: AAT) have crossed above the average analyst 12-month target price of $45.33, changing hands for $45.95/share. But the whole reason to look at the average AAT price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. | In recent trading, shares of American Assets Trust Inc (Symbol: AAT) have crossed above the average analyst 12-month target price of $45.33, changing hands for $45.95/share. But the whole reason to look at the average AAT price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with AAT crossing above that average target price of $45.33/share, investors in AAT have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $45.33 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? |
21018.0 | 2019-03-26 00:00:00 UTC | Top Ranked Momentum Stocks to Buy for March 26th | AAT | https://www.nasdaq.com/articles/top-ranked-momentum-stocks-to-buy-for-march-26th-2019-03-26 | nan | nan | Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, March 26th:
American Assets Trust, Inc. (AAT): This real estate investment trust (REIT) has a Zacks Rank #2 (Buy) and witnessed the Zacks Consensus Estimate for its current year earnings increasing 1.9% over the last 60 days.
American Assets Trust, Inc. Price and Consensus
American Assets Trust, Inc. price-consensus-chart | American Assets Trust, Inc. Quote
American Assets' shares gained 3.7% over the last one month more than S&P 500's gain of 0.2%. The company possesses a Momentum Score of B.
American Assets Trust, Inc. Price
American Assets Trust, Inc. price | American Assets Trust, Inc. Quote
Sanderson Farms, Inc . (SAFM): This integrated poultry processing company has a Zacks Rank #1 (Strong Buy) and witnessed the Zacks Consensus Estimate for its current year earnings increasing more than 100% over the last 60 days.
Sanderson Farms, Inc. Price and Consensus
Sanderson Farms, Inc. price-consensus-chart | Sanderson Farms, Inc. Quote
Sanderson Farms' shares gained 13% over the last one month. The company possesses a Momentum Score of A.
Sanderson Farms, Inc. Price
Sanderson Farms, Inc. price | Sanderson Farms, Inc. Quote
Abercrombie & Fitch Co. (ANF): This specialty retailer has a Zacks Rank #1 (Strong Buy) and witnessed the Zacks Consensus Estimate for its current year earnings increasing 41.8% over the last 60 days.
Abercrombie & Fitch Company Price and Consensus
Abercrombie & Fitch Company price-consensus-chart | Abercrombie & Fitch Company Quote
Abercrombie & Fitch's shares gained 18.5% over the last one month. The company possesses a Momentum Score of A.
Abercrombie & Fitch Company Price
Abercrombie & Fitch Company price | Abercrombie & Fitch Company Quote
See the full list of top ranked stocks here
Learn more about the Momentum score and how it is calculated here .
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, March 26th: American Assets Trust, Inc. (AAT): This real estate investment trust (REIT) has a Zacks Rank #2 (Buy) and witnessed the Zacks Consensus Estimate for its current year earnings increasing 1.9% over the last 60 days. Click to get this free report Sanderson Farms, Inc. (SAFM): Free Stock Analysis Report Abercrombie & Fitch Company (ANF): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. The company possesses a Momentum Score of A. Sanderson Farms, Inc. Price Sanderson Farms, Inc. price | Sanderson Farms, Inc. Quote Abercrombie & Fitch Co. (ANF): This specialty retailer has a Zacks Rank #1 (Strong Buy) and witnessed the Zacks Consensus Estimate for its current year earnings increasing 41.8% over the last 60 days. | Click to get this free report Sanderson Farms, Inc. (SAFM): Free Stock Analysis Report Abercrombie & Fitch Company (ANF): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, March 26th: American Assets Trust, Inc. (AAT): This real estate investment trust (REIT) has a Zacks Rank #2 (Buy) and witnessed the Zacks Consensus Estimate for its current year earnings increasing 1.9% over the last 60 days. American Assets Trust, Inc. Price and Consensus American Assets Trust, Inc. price-consensus-chart | American Assets Trust, Inc. Quote American Assets' shares gained 3.7% over the last one month more than S&P 500's gain of 0.2%. | Click to get this free report Sanderson Farms, Inc. (SAFM): Free Stock Analysis Report Abercrombie & Fitch Company (ANF): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, March 26th: American Assets Trust, Inc. (AAT): This real estate investment trust (REIT) has a Zacks Rank #2 (Buy) and witnessed the Zacks Consensus Estimate for its current year earnings increasing 1.9% over the last 60 days. The company possesses a Momentum Score of A. Sanderson Farms, Inc. Price Sanderson Farms, Inc. price | Sanderson Farms, Inc. Quote Abercrombie & Fitch Co. (ANF): This specialty retailer has a Zacks Rank #1 (Strong Buy) and witnessed the Zacks Consensus Estimate for its current year earnings increasing 41.8% over the last 60 days. | Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, March 26th: American Assets Trust, Inc. (AAT): This real estate investment trust (REIT) has a Zacks Rank #2 (Buy) and witnessed the Zacks Consensus Estimate for its current year earnings increasing 1.9% over the last 60 days. Click to get this free report Sanderson Farms, Inc. (SAFM): Free Stock Analysis Report Abercrombie & Fitch Company (ANF): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. The company possesses a Momentum Score of A. Sanderson Farms, Inc. Price Sanderson Farms, Inc. price | Sanderson Farms, Inc. Quote Abercrombie & Fitch Co. (ANF): This specialty retailer has a Zacks Rank #1 (Strong Buy) and witnessed the Zacks Consensus Estimate for its current year earnings increasing 41.8% over the last 60 days. |
21019.0 | 2019-03-22 00:00:00 UTC | Are You Looking for a High-Growth Dividend Stock? American Assets Trust (AAT) Could Be a Great Choice | AAT | https://www.nasdaq.com/articles/are-you-looking-for-a-high-growth-dividend-stock-american-assets-trust-aat-could-be-a-0 | nan | nan | Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor's dream. However, when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.
Cash flow can come from bond interest, interest from other types of investments, and of course, dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividend as a percent of the current stock price. Many academic studies show tha t dividends make up large portions of long-term returns, and in many cases, dividend contributions surpass one-third of total returns.
American Assets Trust in Focus
Based in San Diego, American Assets Trust (AAT) is in the Finance sector, and so far this year, shares have seen a price change of 13.84%. The real estate investment trust is paying out a dividend of $0.28 per share at the moment, with a dividend yield of 2.45% compared to the REIT and Equity Trust - Retail industry's yield of 5.3% and the S&P 500's yield of 1.93%.
Taking a look at the company's dividend growth, its current annualized dividend of $1.12 is up 2.8% from last year. Over the last 5 years, American Assets Trust has increased its dividend 5 times on a year-over-year basis for an average annual increase of 5.19%. Any future dividend growth will depend on both earnings growth and the company's payout ratio; a payout ratio is the proportion of a firm's annual earnings per share that it pays out as a dividend. American Assets Trust's current payout ratio is 54%, meaning it paid out 54% of its trailing 12-month EPS as dividend.
Looking at this fiscal year, AAT expects solid earnings growth. The Zacks Consensus Estimate for 2019 is $2.20 per share, which represents a year-over-year growth rate of 5.26%.
Bottom Line
Investors like dividends for a variety of different reasons, from tax advantages and decreasing overall portfolio risk to considerably improving stock investing profits. But, not every company offers a quarterly payout.
High-growth firms or tech start-ups, for example, rarely provide their shareholders a dividend, while larger, more established companies that have more secure profits are often seen as the best dividend options. Income investors have to be mindful of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. That said, they can take comfort from the fact that AAT is not only an attractive dividend play, but is also a compelling investment opportunity with a Zacks Rank of #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | That said, they can take comfort from the fact that AAT is not only an attractive dividend play, but is also a compelling investment opportunity with a Zacks Rank of #2 (Buy). American Assets Trust in Focus Based in San Diego, American Assets Trust (AAT) is in the Finance sector, and so far this year, shares have seen a price change of 13.84%. Looking at this fiscal year, AAT expects solid earnings growth. | Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. American Assets Trust in Focus Based in San Diego, American Assets Trust (AAT) is in the Finance sector, and so far this year, shares have seen a price change of 13.84%. Looking at this fiscal year, AAT expects solid earnings growth. | American Assets Trust in Focus Based in San Diego, American Assets Trust (AAT) is in the Finance sector, and so far this year, shares have seen a price change of 13.84%. Looking at this fiscal year, AAT expects solid earnings growth. That said, they can take comfort from the fact that AAT is not only an attractive dividend play, but is also a compelling investment opportunity with a Zacks Rank of #2 (Buy). | American Assets Trust in Focus Based in San Diego, American Assets Trust (AAT) is in the Finance sector, and so far this year, shares have seen a price change of 13.84%. Looking at this fiscal year, AAT expects solid earnings growth. That said, they can take comfort from the fact that AAT is not only an attractive dividend play, but is also a compelling investment opportunity with a Zacks Rank of #2 (Buy). |
21020.0 | 2019-03-22 00:00:00 UTC | 3 Reasons Why Growth Investors Shouldn't Overlook American Assets Trust (AAT) | AAT | https://www.nasdaq.com/articles/3-reasons-why-growth-investors-shouldnt-overlook-american-assets-trust-aat-2019-03-22 | nan | nan | Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. But finding a growth stock that can live up to its true potential can be a tough task.
By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss.
However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.
Our proprietary system currently recommends American Assets Trust (AAT) as one such stock. This company not only has a favorable Growth Score, but also carries a top Zacks Rank.
Research shows that stocks carrying the best growth features consistently beat the market. And for stocks that have a combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy), returns are even better.
While there are numerous reasons why the stock of this real estate investment trust is a great growth pick right now, we have highlighted three of the most important factors below:
Earnings Growth
Earnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. For growth investors, double-digi t earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration.
While the historical EPS growth rate for American Assets Trust is 6.4%, investors should actually focus on the projected growth. The company's EPS is expected to grow 5.3% this year, crushing the industry average, which calls for EPS growth of 0.6%.
Impressive Asset Utilization Ratio
Asset utilization ratio -- also known as sales-to-total-assets (S/TA) ratio -- is often overlooked by investors, but it is an important indicator in growth investing. This metric exhibits how efficiently a firm is utilizing its assets to generate sales.
Right now, American Assets Trust has an S/TA ratio of 0.15, which means that the company gets $0.15 in sales for each dollar in assets. Comparing this to the industry average of 0.13, it can be said that the company is more efficient.
While the level of efficiency in generating sales matters a lot, so does the sales growth of a company. And American Assets Trust is well positioned from a sales growth perspective too. The company's sales are expected to grow 1.5% this year versus the industry average of 0.7%.
Promising Earnings Estimate Revisions
Beyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. A positive trend is a plus here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
The current-year earnings estimates for American Assets Trust have been revising upward. The Zacks Consensus Estimate for the current year has surged 0.8% over the past month.
Bottom Line
American Assets Trust has not only earned a Growth Score of B based on a number of factors, including the ones discussed above, but it also carries a Zacks Rank #2 because of the positive earnings estimate revisions.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
This combination indicates that American Assets Trust is a potential outperformer and a solid choice for growth investors.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Our proprietary system currently recommends American Assets Trust (AAT) as one such stock. Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. Research shows that stocks carrying the best growth features consistently beat the market. | Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. Our proprietary system currently recommends American Assets Trust (AAT) as one such stock. Impressive Asset Utilization Ratio Asset utilization ratio -- also known as sales-to-total-assets (S/TA) ratio -- is often overlooked by investors, but it is an important indicator in growth investing. | Our proprietary system currently recommends American Assets Trust (AAT) as one such stock. Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects. | Our proprietary system currently recommends American Assets Trust (AAT) as one such stock. Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. And American Assets Trust is well positioned from a sales growth perspective too. |
21021.0 | 2019-03-13 00:00:00 UTC | Top Ranked Momentum Stocks to Buy for March 13th | AAT | https://www.nasdaq.com/articles/top-ranked-momentum-stocks-to-buy-for-march-13th-2019-03-13 | nan | nan | Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, March 13th:
American Assets Trust, Inc. (AAT): This real estate investment trust has a Zacks Rank #2 (Buy) and witnessed the Zacks Consensus Estimate for its current year earnings increasing 0.9% over the last 60 days.
American Assets Trust, Inc. Price and Consensus
American Assets Trust, Inc. price-consensus-chart | American Assets Trust, Inc. Quote
American Assets' shares gained 4.1% over the last one month more than S&P 500's gain of 1.4%. The company possesses a Momentum Score of B.
American Assets Trust, Inc. Price
American Assets Trust, Inc. price | American Assets Trust, Inc. Quote
Inter Parfums, Inc. (IPAR): This fragrances and fragrance related products manufacturer has a Zacks Rank #2 (Buy) and witnessed the Zacks Consensus Estimate for its current year earnings increasing 4.4% over the last 60 days.
Inter Parfums, Inc. Price and Consensus
Inter Parfums, Inc. price-consensus-chart | Inter Parfums, Inc. Quote
Inter Parfums' shares gained 9.2% over the last one month. The company possesses a Momentum Score of A.
Inter Parfums, Inc. Price
Inter Parfums, Inc. price | Inter Parfums, Inc. Quote
AAON, Inc. (AAON): This manufacturer of air conditioning and heating equipment has a Zacks Rank #2 (Buy) and witnessed the Zacks Consensus Estimate for its current year earnings increasing 2.3% over the last 60 days.
AAON, Inc. Price and Consensus
AAON, Inc. price-consensus-chart | AAON, Inc. Quote
AAON's shares gained 6.2% over the last one month. The company possesses a Momentum Score of A.
AAON, Inc. Price
AAON, Inc. price | AAON, Inc. Quote
See the full list of top ranked stocks here
Learn more about the Momentum score and how it is calculated here .
Zacks' Top 10 Stocks for 2019
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From more than 4,000 companies covered by the Zacks Rank, these 10 were picked by a process that consistently beats the market. Even during 2018 while the market dropped -5.2%, our Top 10s were up well into double-digits. And during bullish 2012 - 2017, they soared far above the market's +126.3%, reaching +181.9%.
This year, the portfolio features a player that thrives on volatility, an AI comer, and a dynamic tech company that helps doctors deliver better patient outcomes at lower costs.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, March 13th: American Assets Trust, Inc. (AAT): This real estate investment trust has a Zacks Rank #2 (Buy) and witnessed the Zacks Consensus Estimate for its current year earnings increasing 0.9% over the last 60 days. Click to get this free report Inter Parfums, Inc. (IPAR): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report AAON, Inc. (AAON): Free Stock Analysis Report To read this article on Zacks.com click here. The company possesses a Momentum Score of B. American Assets Trust, Inc. Price American Assets Trust, Inc. price | American Assets Trust, Inc. Quote Inter Parfums, Inc. (IPAR): This fragrances and fragrance related products manufacturer has a Zacks Rank #2 (Buy) and witnessed the Zacks Consensus Estimate for its current year earnings increasing 4.4% over the last 60 days. | Click to get this free report Inter Parfums, Inc. (IPAR): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report AAON, Inc. (AAON): Free Stock Analysis Report To read this article on Zacks.com click here. Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, March 13th: American Assets Trust, Inc. (AAT): This real estate investment trust has a Zacks Rank #2 (Buy) and witnessed the Zacks Consensus Estimate for its current year earnings increasing 0.9% over the last 60 days. American Assets Trust, Inc. Price and Consensus American Assets Trust, Inc. price-consensus-chart | American Assets Trust, Inc. Quote American Assets' shares gained 4.1% over the last one month more than S&P 500's gain of 1.4%. | Click to get this free report Inter Parfums, Inc. (IPAR): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report AAON, Inc. (AAON): Free Stock Analysis Report To read this article on Zacks.com click here. Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, March 13th: American Assets Trust, Inc. (AAT): This real estate investment trust has a Zacks Rank #2 (Buy) and witnessed the Zacks Consensus Estimate for its current year earnings increasing 0.9% over the last 60 days. The company possesses a Momentum Score of B. American Assets Trust, Inc. Price American Assets Trust, Inc. price | American Assets Trust, Inc. Quote Inter Parfums, Inc. (IPAR): This fragrances and fragrance related products manufacturer has a Zacks Rank #2 (Buy) and witnessed the Zacks Consensus Estimate for its current year earnings increasing 4.4% over the last 60 days. | Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, March 13th: American Assets Trust, Inc. (AAT): This real estate investment trust has a Zacks Rank #2 (Buy) and witnessed the Zacks Consensus Estimate for its current year earnings increasing 0.9% over the last 60 days. Click to get this free report Inter Parfums, Inc. (IPAR): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report AAON, Inc. (AAON): Free Stock Analysis Report To read this article on Zacks.com click here. The company possesses a Momentum Score of B. American Assets Trust, Inc. Price American Assets Trust, Inc. price | American Assets Trust, Inc. Quote Inter Parfums, Inc. (IPAR): This fragrances and fragrance related products manufacturer has a Zacks Rank #2 (Buy) and witnessed the Zacks Consensus Estimate for its current year earnings increasing 4.4% over the last 60 days. |
21022.0 | 2019-03-12 00:00:00 UTC | American Assets Trust, Inc. (AAT) Ex-Dividend Date Scheduled for March 13, 2019 | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-ex-dividend-date-scheduled-march-13-2019-2019-03-12 | nan | nan | American Assets Trust, Inc. ( AAT ) will begin trading ex-dividend on March 13, 2019. A cash dividend payment of $0.28 per share is scheduled to be paid on March 28, 2019. Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. This represents an 3.7% increase over prior dividend payment.
The previous trading day's last sale of AAT was $45.57, representing a -0.48% decrease from the 52 week high of $45.79 and a 43.8% increase over the 52 week low of $31.69.
AAT is a part of the Consumer Services sector, which includes companies such as American Tower Corporation (REIT) ( AMT ) and Simon Property Group, Inc. ( SPG ). AAT's current earnings per share, an indicator of a company's profitability, is $.42. Zacks Investment Research reports AAT's forecasted earnings growth in 2019 as 5.9%, compared to an industry average of -3.3%.
For more information on the declaration, record and payment dates, visit the AAT Dividend History page. Our Dividend Calendar has the full list of stocks that have an ex-dividend today.
Interested in gaining exposure to AAT through an Exchange Traded Fund [ETF]?
The following ETF(s) have AAT as a top-10 holding:
USAA MSCI USA Small Cap Value Momentum Blend Index ETF ( USVM ).
The top-performing ETF of this group is USVM with an decrease of -0.04% over the last 100 days. It also has the highest percent weighting of AAT at 0.49%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. AAT is a part of the Consumer Services sector, which includes companies such as American Tower Corporation (REIT) ( AMT ) and Simon Property Group, Inc. ( SPG ). Zacks Investment Research reports AAT's forecasted earnings growth in 2019 as 5.9%, compared to an industry average of -3.3%. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. American Assets Trust, Inc. ( AAT ) will begin trading ex-dividend on March 13, 2019. Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. | Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. The previous trading day's last sale of AAT was $45.57, representing a -0.48% decrease from the 52 week high of $45.79 and a 43.8% increase over the 52 week low of $31.69. For more information on the declaration, record and payment dates, visit the AAT Dividend History page. | Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. American Assets Trust, Inc. ( AAT ) will begin trading ex-dividend on March 13, 2019. The previous trading day's last sale of AAT was $45.57, representing a -0.48% decrease from the 52 week high of $45.79 and a 43.8% increase over the 52 week low of $31.69. |
21023.0 | 2019-03-07 00:00:00 UTC | Insiders Were Right: AAT Makes New 52-Week High | AAT | https://www.nasdaq.com/articles/insiders-were-right-aat-makes-new-52-week-high-2019-03-07 | nan | nan | In trading on Thursday, shares of American Assets Trust Inc (Symbol: AAT) touched a new 52-week high of $45.38/share. That's a 43.20% rise, or $13.69 per share from the 52-week low of $31.69 set back on 03/23/2018. That means at today's intraday high, any investor who purchased AAT stock any time over the past 52 weeks has an unrealized gain, including company insiders.
Over the past six months, insiders have been scooping up shares, and those bets are now paying off handsomely. As summarized by the table below, AAT has seen 2 different instances of insiders buying over the trailing six month period.
The chart below shows where AAT has traded over the past year, with the 50-day and 200-day moving averages included.
In afternoon trading on Thursday, AAT shares are changing hands at $45.33/share, slightly below the new 52-week high.
Ten Bargains You Can Buy Cheaper Than The Insiders Did »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Thursday, shares of American Assets Trust Inc (Symbol: AAT) touched a new 52-week high of $45.38/share. That means at today's intraday high, any investor who purchased AAT stock any time over the past 52 weeks has an unrealized gain, including company insiders. In afternoon trading on Thursday, AAT shares are changing hands at $45.33/share, slightly below the new 52-week high. | In afternoon trading on Thursday, AAT shares are changing hands at $45.33/share, slightly below the new 52-week high. In trading on Thursday, shares of American Assets Trust Inc (Symbol: AAT) touched a new 52-week high of $45.38/share. That means at today's intraday high, any investor who purchased AAT stock any time over the past 52 weeks has an unrealized gain, including company insiders. | In trading on Thursday, shares of American Assets Trust Inc (Symbol: AAT) touched a new 52-week high of $45.38/share. That means at today's intraday high, any investor who purchased AAT stock any time over the past 52 weeks has an unrealized gain, including company insiders. As summarized by the table below, AAT has seen 2 different instances of insiders buying over the trailing six month period. | In trading on Thursday, shares of American Assets Trust Inc (Symbol: AAT) touched a new 52-week high of $45.38/share. That means at today's intraday high, any investor who purchased AAT stock any time over the past 52 weeks has an unrealized gain, including company insiders. As summarized by the table below, AAT has seen 2 different instances of insiders buying over the trailing six month period. |
21024.0 | 2019-03-06 00:00:00 UTC | American Assets Trust (AAT) is a Top Dividend Stock Right Now: Should You Buy? | AAT | https://www.nasdaq.com/articles/american-assets-trust-aat-is-a-top-dividend-stock-right-now%3A-should-you-buy-2019-03-06 | nan | nan | All investors love getting big returns from their portfolio, whether it's through stocks, bonds, ETFs, or other types of securities. But for income investors, generating consistent cash flow from each of your liquid investments is your primary focus.
Cash flow can come from bond interest, interest from other types of investments, and of course, dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividend as a percent of the current stock price. Many academic studies show tha t dividends account for significant portions of long-term returns, with dividend contributions exceeding one-third of total returns in many cases.
American Assets Trust in Focus
Based in San Diego, American Assets Trust (AAT) is in the Finance sector, and so far this year, shares have seen a price change of 10.01%. Currently paying a dividend of $0.28 per share, the company has a dividend yield of 2.53%. In comparison, the REIT and Equity Trust - Retail industry's yield is 5.09%, while the S&P 500's yield is 1.93%.
Looking at dividend growth, the company's current annualized dividend of $1.12 is up 2.8% from last year. American Assets Trust has increased its dividend 5 times on a year-over-year basis over the last 5 years for an average annual increase of 5.19%. Future dividend growth will depend on earnings growth as well as payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. Right now, American Assets Trust's payout ratio is 54%, which means it paid out 54% of its trailing 12-month EPS as dividend.
Looking at this fiscal year, AAT expects solid earnings growth. The Zacks Consensus Estimate for 2019 is $2.20 per share, representing a year-over-year earnings growth rate of 5.10%.
Bottom Line
From greatly improving stock investing profits and reducing overall portfolio risk to providing tax advantages, investors like dividends for a variety of different reasons. However, not all companies offer a quarterly payout.
High-growth firms or tech start-ups, for example, rarely provide their shareholders a dividend, while larger, more established companies that have more secure profits are often seen as the best dividend options. Income investors have to be mindful of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. With that in mind, AAT presents a compelling investment opportunity; it's not only an attractive dividend play, but the stock also boasts a strong Zacks Rank of #2 (Buy).
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American Assets Trust, Inc. (AAT): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | With that in mind, AAT presents a compelling investment opportunity; it's not only an attractive dividend play, but the stock also boasts a strong Zacks Rank of #2 (Buy). American Assets Trust in Focus Based in San Diego, American Assets Trust (AAT) is in the Finance sector, and so far this year, shares have seen a price change of 10.01%. Looking at this fiscal year, AAT expects solid earnings growth. | Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. American Assets Trust in Focus Based in San Diego, American Assets Trust (AAT) is in the Finance sector, and so far this year, shares have seen a price change of 10.01%. Looking at this fiscal year, AAT expects solid earnings growth. | American Assets Trust in Focus Based in San Diego, American Assets Trust (AAT) is in the Finance sector, and so far this year, shares have seen a price change of 10.01%. Looking at this fiscal year, AAT expects solid earnings growth. With that in mind, AAT presents a compelling investment opportunity; it's not only an attractive dividend play, but the stock also boasts a strong Zacks Rank of #2 (Buy). | American Assets Trust in Focus Based in San Diego, American Assets Trust (AAT) is in the Finance sector, and so far this year, shares have seen a price change of 10.01%. Looking at this fiscal year, AAT expects solid earnings growth. With that in mind, AAT presents a compelling investment opportunity; it's not only an attractive dividend play, but the stock also boasts a strong Zacks Rank of #2 (Buy). |
21025.0 | 2019-03-06 00:00:00 UTC | 3 Reasons Why Growth Investors Shouldn't Overlook American Assets Trust (AAT) | AAT | https://www.nasdaq.com/articles/3-reasons-why-growth-investors-shouldnt-overlook-american-assets-trust-aat-2019-03-06 | nan | nan | Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. But finding a great growth stock is not easy at all.
That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss.
However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.
American Assets Trust (AAT) is on the list of such stocks currently recommended by our proprietary system. In addition to a favorable Growth Score, it carries a top Zacks Rank.
Studies have shown that stocks with the best growth features consistently outperform the market. And for stocks that have a combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy), returns are even better.
While there are numerous reasons why the stock of this real estate investment trust is a great growth pick right now, we have highlighted three of the most important factors below:
Earnings Growth
Arguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. And for growth investors, double-digi t earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration.
While the historical EPS growth rate for American Assets Trust is 6.4%, investors should actually focus on the projected growth. The company's EPS is expected to grow 4.7% this year, crushing the industry average, which calls for EPS growth of 0.6%.
Impressive Asset Utilization Ratio
Growth investors often overlook asset utilization ratio, also known as sales-to-total-assets (S/TA) ratio, but it is an important feature of a real growth stock. This metric shows how efficiently a firm is utilizing its assets to generate sales.
Right now, American Assets Trust has an S/TA ratio of 0.15, which means that the company gets $0.15 in sales for each dollar in assets. Comparing this to the industry average of 0.13, it can be said that the company is more efficient.
While the level of efficiency in generating sales matters a lot, so does the sales growth of a company. And American Assets Trust looks attractive from a sales growth perspective as well. The company's sales are expected to grow 0.2% this year versus the industry average of 0.1%.
Promising Earnings Estimate Revisions
Beyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. A positive trend is a plus here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
The current-year earnings estimates for American Assets Trust have been revising upward. The Zacks Consensus Estimate for the current year has surged 0.9% over the past month.
Bottom Line
While the overall earnings estimate revisions have made American Assets Trust a Zacks Rank #2 stock, it has earned itself a Growth Score of B based on a number of factors, including the ones discussed above.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
This combination positions American Assets Trust well for outperformance, so growth investors may want to bet on it.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | American Assets Trust (AAT) is on the list of such stocks currently recommended by our proprietary system. Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss. | Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. American Assets Trust (AAT) is on the list of such stocks currently recommended by our proprietary system. Impressive Asset Utilization Ratio Growth investors often overlook asset utilization ratio, also known as sales-to-total-assets (S/TA) ratio, but it is an important feature of a real growth stock. | American Assets Trust (AAT) is on the list of such stocks currently recommended by our proprietary system. Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects. | American Assets Trust (AAT) is on the list of such stocks currently recommended by our proprietary system. Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. Promising Earnings Estimate Revisions Beyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. |
21026.0 | 2019-02-14 00:00:00 UTC | Here's Why American Assets Trust (AAT) is a Great Momentum Stock to Buy | AAT | https://www.nasdaq.com/articles/heres-why-american-assets-trust-aat-is-a-great-momentum-stock-to-buy-2019-02-14 | nan | nan | Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores , helps address this issue for us.
Below, we take a look at American Assets Trust (AAT) , a company that currently holds a Momentum Style Score of A. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. American Assets Trust currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?
Let's discuss some of the components of the Momentum Style Score for AAT that show why this real estate investment trust shows promise as a solid momentum pick.
A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.
For AAT, shares are up 3.26% over the past week while the Zacks REIT and Equity Trust - Retail industry is up 1.82% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 7.51% compares favorably with the industry's 6.89% performance as well.
While any stock can see its price increase, it takes a real winner to consistently beat the market. That is why looking at longer term price metrics -- such as performance over the past three months or year -- can be useful as well. Over the past quarter, shares of American Assets Trust have risen 11.18%, and are up 37.41% in the last year. In comparison, the S&P 500 has only moved 1.57% and 5.32%, respectively.
Investors should also pay attention to AAT's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. AAT is currently averaging 162,779 shares for the last 20 days.
Earnings Outlook
The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note tha t earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with AAT.
Over the past two months, 1 earnings estimate moved higher compared to none lower for the full year. These revisions helped boost AAT's consensus estimate, increasing from $2.16 to $2.18 in the past 60 days. Looking at the next fiscal year, 1 estimate has moved upwards while there have been no downward revisions in the same time period.
Bottom Line
Given these factors, it shouldn't be surprising that AAT is a #2 (Buy) stock and boasts a Momentum Score of A. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep American Assets Trust on your short list.
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For AAT, shares are up 3.26% over the past week while the Zacks REIT and Equity Trust - Retail industry is up 1.82% over the same time period. Below, we take a look at American Assets Trust (AAT) , a company that currently holds a Momentum Style Score of A. Let's discuss some of the components of the Momentum Style Score for AAT that show why this real estate investment trust shows promise as a solid momentum pick. | Let's discuss some of the components of the Momentum Style Score for AAT that show why this real estate investment trust shows promise as a solid momentum pick. Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. Below, we take a look at American Assets Trust (AAT) , a company that currently holds a Momentum Style Score of A. | Below, we take a look at American Assets Trust (AAT) , a company that currently holds a Momentum Style Score of A. Let's discuss some of the components of the Momentum Style Score for AAT that show why this real estate investment trust shows promise as a solid momentum pick. For AAT, shares are up 3.26% over the past week while the Zacks REIT and Equity Trust - Retail industry is up 1.82% over the same time period. | AAT is currently averaging 162,779 shares for the last 20 days. Below, we take a look at American Assets Trust (AAT) , a company that currently holds a Momentum Style Score of A. Let's discuss some of the components of the Momentum Style Score for AAT that show why this real estate investment trust shows promise as a solid momentum pick. |
21027.0 | 2019-02-13 00:00:00 UTC | American Assets Trust (AAT) is a Top Dividend Stock Right Now: Should You Buy? | AAT | https://www.nasdaq.com/articles/american-assets-trust-aat-is-a-top-dividend-stock-right-now%3A-should-you-buy-2019-02-13 | nan | nan | All investors love getting big returns from their portfolio, whether it's through stocks, bonds, ETFs, or other types of securities. But for income investors, generating consistent cash flow from each of your liquid investments is your primary focus.
While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividend as a percent of the current stock price. Many academic studies show tha t dividends account for significant portions of long-term returns, with dividend contributions exceeding one-third of total returns in many cases.
American Assets Trust in Focus
Based in San Diego, American Assets Trust (AAT) is in the Finance sector, and so far this year, shares have seen a price change of 8.49%. Currently paying a dividend of $0.28 per share, the company has a dividend yield of 2.57%. In comparison, the REIT and Equity Trust - Retail industry's yield is 5%, while the S&P 500's yield is 1.93%.
Looking at dividend growth, the company's current annualized dividend of $1.12 is up 2.8% from last year. Over the last 5 years, American Assets Trust has increased its dividend 5 times on a year-over-year basis for an average annual increase of 5.19%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. Right now, American Assets Trust's payout ratio is 52%, which means it paid out 52% of its trailing 12-month EPS as dividend.
AAT is expecting earnings to expand this fiscal year as well. The Zacks Consensus Estimate for 2019 is $2.18 per share, which represents a year-over-year growth rate of 4.31%.
Bottom Line
Investors like dividends for a variety of different reasons, from tax advantages and decreasing overall portfolio risk to considerably improving stock investing profits. But, not every company offers a quarterly payout.
For instance, it's a rare occurrence when a tech start-up or big growth business offers their shareholders a dividend. It's more common to see larger companies with more established profits give out dividends. During periods of rising interest rates, income investors must be mindful that high-yielding stocks tend to struggle. That said, they can take comfort from the fact that AAT is not only an attractive dividend play, but is also a compelling investment opportunity with a Zacks Rank of #2 (Buy).
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American Assets Trust, Inc. (AAT): Get Free Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | That said, they can take comfort from the fact that AAT is not only an attractive dividend play, but is also a compelling investment opportunity with a Zacks Rank of #2 (Buy). American Assets Trust in Focus Based in San Diego, American Assets Trust (AAT) is in the Finance sector, and so far this year, shares have seen a price change of 8.49%. AAT is expecting earnings to expand this fiscal year as well. | Click to get this free report American Assets Trust, Inc. (AAT): Get Free Report To read this article on Zacks.com click here. American Assets Trust in Focus Based in San Diego, American Assets Trust (AAT) is in the Finance sector, and so far this year, shares have seen a price change of 8.49%. AAT is expecting earnings to expand this fiscal year as well. | American Assets Trust in Focus Based in San Diego, American Assets Trust (AAT) is in the Finance sector, and so far this year, shares have seen a price change of 8.49%. AAT is expecting earnings to expand this fiscal year as well. That said, they can take comfort from the fact that AAT is not only an attractive dividend play, but is also a compelling investment opportunity with a Zacks Rank of #2 (Buy). | American Assets Trust in Focus Based in San Diego, American Assets Trust (AAT) is in the Finance sector, and so far this year, shares have seen a price change of 8.49%. AAT is expecting earnings to expand this fiscal year as well. That said, they can take comfort from the fact that AAT is not only an attractive dividend play, but is also a compelling investment opportunity with a Zacks Rank of #2 (Buy). |
21028.0 | 2019-02-13 00:00:00 UTC | American Assets Trust (AAT) Q4 2018 Earnings Conference Call Transcript | AAT | https://www.nasdaq.com/articles/american-assets-trust-aat-q4-2018-earnings-conference-call-transcript-2019-02-13 | nan | nan | American Assets Trust (NYSE: AAT)
Q4 2018 Earnings Conference Call
Feb. 13, 2019 11:00 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Good day, ladies and gentlemen, and welcome to the American Assets Trust fourth-quarter and full-year 2018 earnings call . At this time, [Operator instructions] As a reminder, today's conference may be recorded. I'd now like to introduce your host for today's conference, Mr. Adam Wyll, senior vice president and general counsel.
Sir, please go ahead.
Adam Wyll -- Senior Vice President and General Counsel
Good morning. I'd like to thank everyone for joining us today for American Assets Trust 2018 fourth-quarter and year-end earnings conference call . Joining me on the call are Ernest Rady and Bob Barton. [Inaudible] and other members of our management team are available to take your questions at the conclusion of our prepared remarks.
Our 2018 fourth-quarter and year-end supplemental disclosure package provides a significant amount of valuable information with respect to the company's operating and financial performance. The document is currently available on our website. Certain matters discussed on this call may be deemed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include any annualized or projected information as well as statements referring to expected or anticipated events or results.
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Although we believe the expectations reflected in such forward-looking statements are based on reasonable assumptions, our future operations and our actual performance may differ materially from the information contained in our forward-looking statements, and we can give no assurance that these expectations will be attained. Risks inherent in these assumptions include, but are not limited to, future economic conditions, including interest rates, real estate conditions, and the risks and cost of construction. The earnings release and supplemental reporting package that we issued yesterday and our annual report filed on Form 10-K and our other financial disclosure documents provide a more in-depth discussion of risk factors that may affect our financial condition and results of operations. Additionally, this call will contain non-GAAP financial information, including funds from operations or FFO; earnings before interest, taxes, depreciation, and amortization or EBITDA; and net operating income or NOI.
American Assets is providing this information as a supplement to information prepared in accordance with generally accepted accounting principles. Explanations of such non-GAAP items and reconciliations to net income are contained in the company's supplemental operating and financial data for the fourth-quarter and year-end 2018 furnished to the Securities and Exchange Commission, and this information is available on our website at www.americanassetstrust.com. I'll now turn the call over to our Chairman, President, and CEO Ernest Rady to begin our discussion of fourth-quarter and year-end results. Ernest?
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
Thanks, Adam, and that was really eloquent. Good morning, everyone. Thank you for joining American Assets Trust fourth-quarter and year-end 2018 earnings call. We continue to make great progress on all fronts as we continue to focus our efforts on earnings growth combined with growth in net asset value for our shareholders.
At American Assets Trust, our strategy is focused on these seven things: one, coastal West Coast markets from San Diego to Seattle and Hawaii, which have dynamic high-barrier-to-entry attributes, where the demographics [Inaudible] demand and local economies are strong and that, we believe, outperform other markets over time; two, diversification by asset class, we believe that the old system of a combination of office, retail, and multi-family properties as opposed to focusing as a single-asset class provides for superior positioning opportunities; three, consistent growth both organically and opportunistically, we believe that our NAV annualized growth over the last eight years has been approximately 12%, our annualized total shareholder return over the last years has also been approximately 12%, speaking to the quality of our portfolio; we -- four, we maintain a conservative balance sheet and debt profile; five, environmental sustainability and social responsibility, we use proven conservative methods to reduce carbon emissions, minimize our environmental impact, and preserve natural resources for future generations. Additionally, we firmly believe that our success is directly related to the success and health of our communities in which our properties are located; six, technology, we expect to bring in cutting-edge technology into our properties and our business operations attack -- attract higher credit tenants and creates material operational cost savings; seven, dedication to transparency, excellence, and success and all that we do. During the fourth quarter, we signed a significant lease with Google at our one market in San Francisco, which will contribute significantly to our earnings in 2019 and beyond. The office market in both San Francisco and Bellevue, Washington remain quite strong, and we continued our renovation of the former Kmart building at our Waikele Center in Hawaii and remain optimistic on the leasing front as we have commenced lease negotiations and begun negotiating LOIs, letters of intent, with various perspective national retailers.
The Safeway store at Waikele Center remains on track to open in the fourth-quarter '19. Our renovation of one of the existing smaller office buildings at Oregon Square in Portland is almost incomplete and we are optimistic on the leasing front as we have negotiations with LOIs with respective full-bid building users. We continue to reinvest and improve our existing assets and remain optimistic about the future of this portfolio and our ability to improve the price, NAV, GAAP. On behalf of all of us in American Trust, we thank you for your confidence.
We work hard to earn it and allow us to manage your company, and we'll look forward to your continued support. I'll now turn it over to Bob Barton, our executive vice president and CFO. Thanks. Bob, you go ahead.
Bob Barton -- Executive Vice President and Chief Financial Officer
Good morning and thank you, Ernest. Last night, we reported fourth-quarter 2018 FFO of $0.47 per share and net income attributable to common stockholders of $0.14 per share for the fourth quarter. Fourth-quarter results are primarily comprised of four highlights, which are as follows: first, FFO missed consensus by approximately $0.01 in Q4, primarily from the one-time expensing of the demolition costs related to the redevelopment of the former Kmart building at our Waikele Center. Secondly, as Ernest mentioned, at our landmark at One Market Street in San Francisco, we signed a 10-year lease with Google at prevailing market rates and terms were approximately 253,000 square feet, replacing Salesforce.com.
Google began paying rent on two floors on January 1, 2019 and will begin paying rent on three additional floors on July 1, 2019 and on the remaining two floors for a total of seven floors, on June 1, 2020 with straightline rent beginning in Q3 '19. As noted in our earnings release and supplemental, the cash basis and straightline percentage change in our comparable new and renewal office leases signed in Q4 were approximately 64% and 96%, respectively, with a large part of that driven by the Google lease. Third, the former Sears Store at Carmel Mountain Plaza shopping center in San Diego closed its stores in late November 2018 after filing for bankruptcy. This reflects the drop at our leased occupancy from 98.8% in Q3 to 77.4% at the end of Q4.
As you may recall, we owned the underlying land, which we ground-leased to a third-party ground lessee. In late December 2018, we reached a lease termination agreement with the ground lessee for it to surrender the former Sears building, which it owned in exchange for the release of its remaining obligations under the ground lease. This transaction closed in January 2019 with the recording of the grant deed, which legally transferred title of the building back to American Assets Trust resulting in a $4.5 million termination fee to be recorded in Q1 '19. That termination fee was calculated based on the discounted cash flow analysis of the then remaining ground lease rent schedule.
But wait the story doesn't end there. Less than three weeks later, we signed a 10-year lease for the entire former Sears building approximately 108,000 square feet with a national retailer in the home decor space, which we understand is making its debut entry into California. This brings our retail leasing occupancy back up approximately 98% in Q1 '19. We anticipate this retailer will be well-received in this high demographic area and will make a significant impact in Carmel Mountain Plaza by activating the eastern end of the shopping center, which has long been in need of a renovation as it was previously under control by a third-party.
Rent is expected to begin in Q4 '19 with straightline rent commencing in Q3 '19. We expect this new tenant to increase FFO on an annual basis by approximately $1.03 over what we were receiving from the former ground lessee. Tenant improvements are minimal. Number four, we increased our 2019 FFO guidance by $0.06 at the midpoint primarily as a result of the $4.5 million termination fee previously discussed to $2.22 per FFO share.
We also believe now more that anytime in the last three years, there is a clear path to organic growth over the next several years with our high-quality coastal West Coast focus. From our vantage point, we expect to see in excess of 6% organic growth in FFO in 2019 and in excess of 8% organic growth -- organic FFO growth in 2020. We expect similar organic growth in our EBITDA as Google comes online for a full year, beginning 1/1/20, which we believe will produce well in excess of 12% growth in EBITDA in 2020 compared with the year-end 2018, resulting in a net debt to EBITDA that we expect will be closer to 5.5 times strictly through organic growth. And we believe existing organic growth also allows us to grow further through smart accretive acquisitions and other opportunities that create -- that can create long-term shareholder value that we hope will close the price to NAV GAAP.
Let's take a deeper dive into the details behind these highlights. As it relates to retail, during the trailing four quarters, 78 retail leases were signed representing approximately 317,000 square feet or 10% of our total retail portfolio. Of these leases signed, 63 leases consisting of approximately 239,000 square feet were for spaces previously leased. On a comparable basis, the annual cash basis rent increased 3.6% over the prior leases.
As it relates to office or office portfolio, ended the quarter at approximately 90.9%, an increase of approximately 250 basis points on a comparative basis year over year, primarily due to an increase in occupancy at our City Center Bellevue and Torrey Reserve Campus in San Diego, leaving a vacancy of approximately 9.1% or 242,000 square feet of our 2.7 million square foot office portfolio. It is also important to note that we believe our in-place rents for the office portfolio, even after signing the Google lease, are still approximately 23% below market. Let's talk about same-store NOI for a moment. Same-store retail cash NOI increased in the fourth quarter to 3.8%.
The increase primarily relates to increased rents at our Carmel Mountain Plaza, Loma Santa Fe, and Alamo Quarry Market shopping centers combined with a decreased rental expenses at our Gateway marketplace shopping center, which was acquired in 2017. Same-store office cash NOI increased 4.9% in the fourth quarter, primarily due to rental abatements burning off on new tenants at City Center Bellevue. Same-store multifamily cash NOI increased 9.1%, primarily due to improved operating results at -- of the Pacific Ridge Apartments in San Diego. Total revenue of Pacific Ridge Apartments continues to increase again in 4Q 2018 by approximately 8%, primarily due to increased base rent.
In addition, rental expenses decreased 3% as our restructured multifamily management team continues to focus on operating expenses and efficient operating margins to drive solid results. The remainder of our multi-family portfolio performed well with an increase of cash NOI of approximately 3%, primarily attributable to an increase in base rent and other property income at [Inaudible] on Eighth in Portland combined with the decrease in rental expense. Waikiki Beach Walk, our mixed-use property consisting of the Embassy suites hotel and Waikiki Beach Walk retail reported a combined increase in same-store cash NOI excluding redevelopment of 1.8% for the fourth quarter. Broken down further, this represents an increase at the Embassy suites hotel of approximately 14%, offset by a decrease at Waikiki Beach Walk retail down approximately 8%.
The increased cash NOI at Embassy suites can be attributed to an increase in ADR year over year of approximately 5.8%. At our Waikiki Beach Walk retail center, the decrease in same-store cash NOI was primarily due to a reduction in the percentage rent as well as an increase in repair and maintenance expenses. Nevertheless, tenant sales remain high at $1,112 per square foot for the rolling 12 months as our tenants continue to benefit from the excellent location and good economy. Turning to our fourth quarter results, FFO decreased approximately $0.06 to $0.47 per FFO share compared to the third quarter.
The fourth-quarter results include the following activity: first, with respect to the signing of the Google lease, which resulted in the early termination of the salesforce lease, the useful life of assets related to salesforce lease were adjusted to reflect the remaining lease term. The acceleration of the write-off of these assets decreased FFO by approximately $0.02 per FFO share. Second, G&A expenses increased by approximately $0.02 per FFO share as a result of our achieving better-than-expected year-end performance objectives based on the positive results achieved in operations and leasing activities for the entirety of 2018. Third, Embassy suites seasonality and operations decreased fourth-quarter FFO by approximately $0.01.
And fourth, at our Waikele Center, one-time demolition expenses were incurred with respect to the building formerly occupied Kmart resulting in a $0.01 decrease in FFO per share. Now, as we look at our balance sheet liquidity at the end of the fourth quarter, we had approximately $334 million in liquidity comprised of $48 million of cash and cash equivalents and $286 million of availability on our line of credit. Our leverage, which we measure in terms of net debt to EBITDA was 7.2 times, although our continued focus is to get our net debt to EBITDA back down to 5.5 times or below. We believe that our existing organic growth in EBITDA will reflect the following approximate net debt to EBITDA ratios quarter by quarter in 2019: Q1 '19, it will drop to 6.1 times due to the termination fee related to the former Sears ground lease; Q2 '19, we expect it to go back up to approximately 7 times; Q3 '19, it will drop again to 6.6 times with a straightline revenue being recorded on the Google lease; Q4 '19, we expect it to be 6.0 times and 5.7 times by Q4 '20.
Again, all of this is through existing organic growth. And as always, our guidance in these prepared remarks exclude any impact from future acquisitions, dispositions, equity issuances or repurchases, future debt refinancings or repayments other than what we have already discussed. We will continue our best to be as transparent as possible and share with you our analysis interpretations of our quarterly numbers. Operator, I'll now turn the call over to you for questions.
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
Good job, Bob.
Questions and Answers:
Operator
[Operator instructions] Our first question comes from the line of Craig Schmidt with Bank of America. Your line is now open.
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
Morning, Craig.
Craig Schmidt -- Bank of America Merrill Lynch -- Analyst
Thank you. Good morning.
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
Good morning.
Craig Schmidt -- Bank of America Merrill Lynch -- Analyst
I thought that recognizing the $4.5 million in lease term fees and then looking at their corporate guidance page in the supplemental, net income essentially stayed the same. But you picked up around $4 million in depreciation and amortization. Could you walk me how the $4.5 million raised your guidance?
Bob Barton -- Executive Vice President and Chief Financial Officer
Craig, that's a very good question. I've had several questions on that, and the optics don't look good when you're looking at that. Let me walk you through it. So the difference between our two midpoints in FFO is $3,671,000 and the termination fees that we recorded or will record in Q1 are $4.5 million.
What we've done is we've taken the $4.5 million and reduced that by approximately $800,000 and change to reflect pushing out some of the speculative leasing that we had in our original guidance to later quarters in 2019. So that net, the $4.5 million less pushing out some of that speculative leasing gets you down to $3,671,000. The other question is that on the depreciation, the -- what we know is that the depreciation is accurate. The FFO is accurate on both the original or the prior Q3 guidance and the current -- the revised guidance.
What we -- what we're looking into is that we think that the original Q3 guidance should be increased to what we see today, $88,191, which would reduce your -- which would increase your depreciation and decrease your net income. Again, this is all just for guidance on the guidance sheet of the supplemental Page 9, and we'll run that to ground.
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
Craig, that was a great question, especially when you consider the complexity of the answer. So good for you. Thank you, Craig.
Craig Schmidt -- Bank of America Merrill Lynch -- Analyst
No, thanks. Thanks for the explanation.
Adam Wyll -- Senior Vice President and General Counsel
Our pleasure.
Operator
Our next question comes from Todd Thomas with KeyBanc Capital Markets. Your line is now open.
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
Morning, Todd.
Todd Thomas -- KeyBanc Capital Markets -- Analyst
Hi. Good morning. First question, Bob, you mentioned -- so $1.03 pickup from -- at Carmel Mountain Plaza. Is that the annualized impact or is that the impact in the second half once straightline rent commences? And then I was curious if you can talk a little bit about how the rent stacks up versus the $30 square foot average for the center.
I realize it's a big box there, but can you just describe the rent a little bit and the economics in general?
Bob Barton -- Executive Vice President and Chief Financial Officer
Yes. Your first question, the $1.03 that increased over the -- what we're receiving from the ground lessee, that's on an annualized basis. So you're not going to get that full impact in '19. In terms of where the rents are, I believe it's similar to what we received on some of the other big boxes.
But Chris, why don't you talk to that?
Chris Sullivan -- Vice President of Retail Properties
Yes. So keep in mind that Sears box is 107,000 square feet, so it's an enormous box. The other boxes in the center are in the 25,000, 30,000. I think the other large box we have out there is 40.
I don't have my sheets in front of me but I believe the rent was in the $15, $16 rent plus triple net, which is absolutely market for a box of that size. So that's why on a per square foot basis, it may look a little less compared to other boxes. And that $30 square foot number you have there also probably includes some of the shops to bring that number up.
Todd Thomas -- KeyBanc Capital Markets -- Analyst
Yes, sure. That's helpful.
Bob Barton -- Executive Vice President and Chief Financial Officer
Yes -- Todd, and I also think too that with the TIs being minimal on this, so you could you could take that box and carve it up into three or four different boxes. But the landlord cost to demise that and create those new boxes plus higher TIs would probably get you a higher rate. But on a net present value basis, you're probably better off with what we got. And I think that the type of tenant coming in there is really going to activate that center and well-received in the marketplace.
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
Plus, of course, there's no downtime.
Bob Barton -- Executive Vice President and Chief Financial Officer
Exactly.
Todd Thomas -- KeyBanc Capital Markets -- Analyst
Sure. And when did the ground lease expire? And did you previously have ground lease income factored into the 2019 guidance?
Bob Barton -- Executive Vice President and Chief Financial Officer
Yes, we did. It expired in January -- end of the year January. And we did have that in guidance but that was like slightly less than a penny.
Todd Thomas -- KeyBanc Capital Markets -- Analyst
OK. So the ground lease expired in January. Well, how do you arrive. How -- well, how did how did you arrive at the $4.5 million terminal value.
It sounded like it was sort of a discounted or a net present value of the remaining lease term.
Bob Barton -- Executive Vice President and Chief Financial Officer
Yes. There's specific guidance on how you determine what that termination fee is and really what we look at is to the discounted value of what we gave up and what we gave up was the remaining obligation under that ground lease, which their lease ended in, I believe, 2023. And what we got in exchange was 108,000 square foot building. And the best way to value that was looking at what we gave up.
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
I believe you had extensive discussions with our outside auditors to make sure that we were doing the accurate presentation.
Bob Barton -- Executive Vice President and Chief Financial Officer
Oh, yes.
Todd Thomas -- KeyBanc Capital Markets -- Analyst
Got it. So the Sears lease expired at the end of '18 the ground lease went through 2023.
Bob Barton -- Executive Vice President and Chief Financial Officer
That is correct.
Todd Thomas -- KeyBanc Capital Markets -- Analyst
OK. And then just sort of a bigger picture question for you, maybe maybe Ernest can chime in. Ehe Google lease dramatically increases your office NOI and you've talked previously about keeping office below certain thresholds. I think 40% as a percent of the company's portfolio and it seems like it will be above that 40% threshold once the Google lease kicks in.
How are you thinking about rebalancing the portfolio from here? What are your current thoughts there?
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
Our first focus is on increasing that asset value with cash flow for the stockholders. It's not as important to us that we maintain the absolute proportions that we've existed -- that have existed in the past. So we'll be looking at this from an entrepreneurial point of view to say how can we continue to increase our net asset value. We're not going to focus on a split that we had before for years.
But fortunately, the diversification has allowed us to have a significant upswing from office. And it's nothing that I say, "Gosh, I wish we didn't have all that office. I wish we had more."
Todd Thomas -- KeyBanc Capital Markets -- Analyst
OK. Got it. Thank you.
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
Thanks.
Bob Barton -- Executive Vice President and Chief Financial Officer
Thanks Doug.
Operator
Our next question comes from line of Rich Hill with Morgan Stanley. Your line is now open.
Rich Hill -- Morgan Stanley -- Analyst
Hey, good morning, guys. Good morning. Thanks for that clarification on the ground lease. I think it makes it pretty clear to me what you own at this point.
Wanted to maybe be a little bit more high level at this point talk about San Diego. Obviously, there's two big catalysts there. Earnest, in the past you've said you're very confident in that lease, of getting those leases done but maybe could you give us an update on what the San Diego office market looks like. And are you more optimistic, less optimistic than you used to be on the timing of those lease executions?
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
Well, I'm optimistic on the timing of the lease executions in San Diego. But certainly any comparison between San Francisco, even Portland, and Seattle and San Diego is purely coincidental. San Diego is much more competitive but Steve Center, who heads up our office leasing in San Diego is doing an excellent job. So I continue to be optimistic but it's not like rolling off a log.
There's a lot of competition. You want to add some to that, Steve?
Steve Center -- Vice President of Office Properties
Sure. Just to get a little more specific, Torrey Plaza -- the two needle-movers in San Diego are Torrey Plaza and Torrey Point. And Torrey Plaza, the building that we're that we renovated, we need to lease -- I'm looking at getting to stabilization of 92%. We need to do about 30,000 feet of net absorption in this building to hit 92%, and we're in active proposals of 26,000 feet of that.
So the activity is good. The reception of the renovations is very, very good. We've been proactively building spec suites and they're bearing fruit as well. So we've got good momentum and we expect to have positive things to report in future quarters.
Torrey Point, we just signed a new lease with a company called eMolecules for 73,000 feet, so that basically filled the second floor of the three-storey and we've got a couple of larger deals that we're in discussions with for other components of that project, so good momentum. We think once we get the TIs built with RSM, which is a recent deal for 13,500 feet and eMolecules, coupled with the other 10, the other building, get that activity there. And an activity begets activity and we think we're going to finish strong there.
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
You can see why I've got optimistic on San Diego. That was a good report, Steve. Thank you.
Rich Hill -- Morgan Stanley -- Analyst
Yes. No, no. It was very helpful. Steve and Earnest, that's maybe a lot more concrete detail than we've received in the past.
Is that fair?
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
Yes, I think that's fair. Don't forget and -- we've been involved in a lot of renovation and so on it's taking a little longer because I think the product we had was not consistent with what the market demanded. We have now remodeled and we have one more remodel going on and we're now providing the product that the market wants and I think we can compete more than effectively.
Rich Hill -- Morgan Stanley -- Analyst
Great. Thank you. That's all I have, guys.
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
Thank you.
Adam Wyll -- Senior Vice President and General Counsel
Thank you.
Operator
Our next question comes from line of Haendel St. Juste with Mizuho. Your line is now open.
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
Haendel , good morning.
Haendel St. Juste -- Mizuho Americas -- Analyst
Hey. Hey, man. Good morning, sir. How are you?
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
Good. Good.
Haendel St. Juste -- Mizuho Americas -- Analyst
So I got a couple of questions. I guess, how long the lease just signing with the new home furnishing store? And does it contain rent bumps? And did I hear you correctly by saying when you said that the tenant takes occupancy in the third quarter and that the actual cash flow starts in the fourth quarter?
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
Chris, why don't you handle that since you --
Chris Sullivan -- Vice President of Retail Properties
Yes. Morning, Haendel.
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
This is Chris Sullivan.
Chris Sullivan -- Vice President of Retail Properties
So I believe it's a 10-year term and you get a bump every five years [Inaudible] with big box anchors. I believe our tenants is starting to TIs --
Jerry Gammieri -- Vice President of Construction and Development
This Friday.
Chris Sullivan -- Vice President of Retail Properties
There we go. Haendel, you know Jerry. He said it's this Friday they're pulliing permits. So they'll start -- there you go.
This Friday. So a figure of about four- or five-months TI picture and then now they'll open and away they go.
Bob Barton -- Executive Vice President and Chief Financial Officer
Yes. Haendel, we're factoring in straightline rent coming in in Q3, beginning Q3 and then cash coming in in Q4.
Haendel St. Juste -- Mizuho Americas -- Analyst
Got it. OK. Thanks. Bob, I guess, and, Ernest, maybe you, as a follow-up on the decision to retenant the former Sears box with another large-box tenant.
I guess, I understand the dollars and sense of getting someone in there today at a similar rent but wouldn't the better long-term decision from an NAV perspective had been to redevelop the box into smaller spaces at higher rents, which would not only get cash flow benefits but also cap rate benefits?
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
Chris Sullivan is chomping at the bait. He wants to answer that question. I can't deny him the opportunity. Chris?
Chris Sullivan -- Vice President of Retail Properties
Well, Haendel, in theory, that sounds good but remember it's all market by market. So when you look who's in the Carmel Mountain market, you look at up across the freeway at Forest Ranch and you go up to the next intersection at 78 and down to Miramar. A lot of your boxes are already in place. So when you look at who your available prospects are and what's going to make a bang to the buck for the center, that bench started getting pretty thin.
So when you factor in leasing risk, you factor in the amount of time it takes, the costs to [Inaudible] the building and everything involved and you bring it up on a net present value, this deal made a lot of sense to take -- to do this one.
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
Did that answer your question?
Haendel St. Juste -- Mizuho Americas -- Analyst
OK. [Inaudible]
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
A redevelopment would've involved capital costs, it would regard -- taken up time, it would -- we'd have uncertainty. This way, we have no vacancy, we have no capital -- we have minimum capital costs and we have certainty, all of which adds up to, in my view, if I may describe it as a home run.
Haendel St. Juste -- Mizuho Americas -- Analyst
OK. OK. And I guess, one more for me. Curious on the current outlook for incremental lease terms.
I know they're hard to predict and that there isn't anything incremental embedded in your current FFO guide here but curious how you're feeling about engaging tenants today regarding lease -- early lease terminations. Are you still open for business for those who are willing to pay you to get out of a lease or are you more inclined to enforce the leases? I know these are all a case by case, but just maybe you could walk us through some of your thinking on potential early lease termination discussions.
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
Case by case, Haendel, I'd like to tell you that logic is the most important factor in our consideration but greed also plays a role. So if we have an opportunity, we'll do our best to take advantage of it, consistent with playing fair with all of our base of tenants.
Bob Barton -- Executive Vice President and Chief Financial Officer
One other point regarding that, Haendel, is that if you look at the termination fees we had in '18 and the termination fee we have in '19, they're about equal. So the growth, whether -- I think it's like 6% in FFO growth or 6%, 7% in FFO growth in '19 is going to be the same with or without the termination fees. So it's not like a one-time [Inaudible]
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
It's really case by case.
Haendel St. Juste -- Mizuho Americas -- Analyst
Got it. Got it. OK. Thank you, guys.
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
Good questions. Thank you, Haendel.
Operator
Our next question comes from the line of Michael Carroll with RBC Capital Markets. Your line is now open.
Michael Carroll -- RBC Capital Markets -- Analyst
Yes. Thanks. I wanted to dive into the Torrey Point and Torrey Reserve projects again real quick. I know that you were just talking about there are several large deals looking at the rest of Torrey Point.
I mean, how -- what's the size of those tenants and how many -- I guess, how many more leases do you need to sign to fill up that project? Are you holding it back for one larger user?
Steve Sullivan -- Vice President of Retail Properties
I would say it's going to be three to four. We've got 23,000 feet on the third floor of the three-storey. For the right credit, you had divided it in half, which we did on the second floor. So the RSM led the way with 13,500 feet.
We divide it down for them and then eMolecules came in for most of the remainder. So for the right credit, we break it up but I see that going full floor. Then you have a 10,000 foot increment on the graph for the three-storey and 12,000 in the two-storey plus another 4,800. So it could be three to four leases maybe five tops.
Michael Carroll -- RBC Capital Markets -- Analyst
OK. Great. And then do you think that there's enough activity to get that project stabilized by the end of the year?
Steve Center -- Vice President of Office Properties
Yes.
Michael Carroll -- RBC Capital Markets -- Analyst
OK. And then on the Torrey Reserve projects, can you remind us how much space you actually renovated there?
Steve Center -- Vice President of Office Properties
Gosh. I'd say 40,000 feet of spec or white boxing and we're still doing some more.
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
And it's not only the renovation in the tenant space. It's the renovation in the public space, and that's what's added to the appeal. We --
Michael Carroll -- RBC Capital Markets -- Analyst
OK.
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
Go ahead.
Michael Carroll -- RBC Capital Markets -- Analyst
And then what type of uplift have you been seeing in those rents, given those renovations? Is it fairly meaningful?
Steve Center -- Vice President of Office Properties
Oh, yes. Yes. We're -- we haven't gone backwards yet, so we continue to judiciously push while making deals. We're winning more than our fair share of deals versus our competition right now.
And so we want to keep that momentum going. And one way we're doing that, again, we've mentioned spec suites earlier. Having the suites built and ready to go versus someone having to contemplate a six-month process to design a permit and build a space, it makes a huge difference, especially for tenants [Inaudible] feet. Furthermore, they typically don't give themselves enough time to get all that done with their lease expiring.
So we've taken opportunities where timing is an issue and rather than treating it as a typical landlord-tenant relationship, we partnered with them, so to speak, and we figure out how to get them in on time. We just signed a lease with a group called Mariner Wealth Management that just signed last week. And part of the reason we got that done is we were able to meet their ambitious schedule because they had taken longer to get this done. So part of the success is the execution and the vertically integrated team with leasing with legal with construction in-house as well as our operations folks.
So long-winded answer there, but --
Michael Carroll -- RBC Capital Markets -- Analyst
No, it's perfect.
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
And the renovation to the common area, people walk in and say, "Wow."
Michael Carroll -- RBC Capital Markets -- Analyst
OK. And then my last question real quick is on the Embassy suite's refresh. When do you plan on breaking ground on that project? Is that still going to go on as those you previously described last quarter?
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
That's a complicated answer. And Jerry who's been responsible for it will cover it but we have three parts to it. First of all, we have to -- go ahead, Jerry. You're going to --
Jerry Gammieri -- Vice President of Construction and Development
Sure. So, Michael, we have the painting and -- project that has already commenced on the [Inaudible] tower. We expect that project to be ongoing throughout '19 and then we'll carry over to the Aloha Tower as well. We anticipate having both projects done in 2019 from a painting and [Inaudible] aspect, and we are also working on refreshing the hardwoods within the rooms and that project should start in Q3 of 2019 and that'll take us through 2020.
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
It's a sequence. We don't want to do it all at once because we'll have nothing but confusion. So first the first couple of phases that Jerry outlined and then we refresh.
Michael Carroll -- RBC Capital Markets -- Analyst
OK. Great. Thank you.
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
Thank you.
Operator
Our next question comes from line of Jeff Donnelly with Wells Fargo. Your line is now open.
Jeff Donnelly -- Wedbush Securities -- Analyst
Good morning, guys. It might be a two-parter here but, I guess,what's your reaction to the selling assets in San Diego -- in San Antonio and redeploying that into share repurchases? Because it would seem that that would sort of intensify that coastal West Coast focus that you mentioned, Ernest, and the company would be taking advantage of repurchasing its shares at a nice discount to your own opinion of NAV and taking advantage of what tends to be a very strong 2020 FFO growth. I'm just curious how you guys think about the outlook for San Antonio and maybe why that matches your outlook for the West Coast. And then maybe, Bob, I know there's a desire to deliver but, at the same time, repurchases could make sense too.
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
San Antonio is a top-notch property that compares favorably with anything that we've looked at that's available on the coastal West Coast. We've been looking for a decade to try and find a [Inaudible] that would bring the whole portfolio to the coastal West Coast and we've not found anything in coastal West Coast that is as good or as promising as what we have in San Antonio. As far as repurchasing shares, maybe we have a small guy a problem but we're kind of a mid-sized REIT on the smaller side. We'd like to be more institutional.
We'd like to get in the game that would not be involved with purchasing our shares and getting smaller. If anything, we'd like to get larger and be more a factor in the marketplace than we presently are. So repurchasing our shares is not on the agenda but that's a good suggestion and thank you.
Jeff Donnelly -- Wedbush Securities -- Analyst
We can debate that but, I guess, to switch gears, Earnest, is that how do you guys think about the potential impact of a change to Prop 13? Obviously, that's kind of getting more press out there and what's your thoughts on that? I know it's still early.
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
I can -- you want the honest truth? I don't know. What the legislature will do, I don't know. What the reaction of the marketplace will be, I don't know. But the factors that are really important is there is innovation in the coastal West Coast.
There's job creation, there is climate, and people want to live here. So this marketplace that we're in will overcome, I believe, in the midterm anything that government inflicts on us. And they will probably do their best to inflict what they can on us but good is good and we don't have [Inaudible] and that's the secret to our success.
Jeff Donnelly -- Wedbush Securities -- Analyst
I like the word inflict. And just --
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
[Inaudible]
Jeff Donnelly -- Wedbush Securities -- Analyst
Especially out there. And just one last question that, I guess, what's the status of your plans with the board? I just think -- I believe California kind of passed some rules about competition -- composition of the board, excuse me. And just wondering what changes you anticipate making in 2019 or '20 to the board?
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
We are nominating a woman to the board, who I have a long-term experience with. She was the COO of a bank that I was involved with, she's been in private equity and where -- she's certainly welcome and she's met everybody in the company and she's very interested in the company. Larry Finger, who's been on our board for many years, has agreed graciously to become a consultant instead of a board member. So we will be complying with all the laws that California -- can I use the word inflicts on us again and continue to have the benefit of all the advice we've had from the board in the past plus this young lady Joy Schaefer.
Jeff Donnelly -- Wedbush Securities -- Analyst
Great. Thanks guys.
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
Thank you.
Operator
I'm showing no further questions in queue at this time. I'd like to turn the call back to Ernest Rady for closing remarks.
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
Well, again, thank you all for your interest in the company. I think this -- our results continue to reflect the strategies that we have, which, I believe, are the best but strategies for real estate in our in our marketplace and we hope to continue to perform on all of our shareholders' behalf. Thank you for your interest and thank you for your time.
Operator
[Operator signoff]
Duration: 44 minutes
Call Participants:
Adam Wyll -- Senior Vice President and General Counsel
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
Bob Barton -- Executive Vice President and Chief Financial Officer
Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer
Craig Schmidt -- Bank of America Merrill Lynch -- Analyst
Todd Thomas -- KeyBanc Capital Markets -- Analyst
Chris Sullivan -- Vice President of Retail Properties
Rich Hill -- Morgan Stanley -- Analyst
Steve Center -- Vice President of Office Properties
Haendel St. Juste -- Mizuho Americas -- Analyst
Jerry Gammieri -- Vice President of Construction and Development
Michael Carroll -- RBC Capital Markets -- Analyst
Steve Sullivan -- Vice President of Retail Properties
Jeff Donnelly -- Wedbush Securities -- Analyst
More AAT analysis
This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see ourTerms and Conditionsfor additional details, including our Obligatory Capitalized Disclaimers of Liability.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | American Assets Trust (NYSE: AAT) Q4 2018 Earnings Conference Call Feb. 13, 2019 11:00 a.m. Operator [Operator signoff] Duration: 44 minutes Call Participants: Adam Wyll -- Senior Vice President and General Counsel Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer Bob Barton -- Executive Vice President and Chief Financial Officer Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer Craig Schmidt -- Bank of America Merrill Lynch -- Analyst Todd Thomas -- KeyBanc Capital Markets -- Analyst Chris Sullivan -- Vice President of Retail Properties Rich Hill -- Morgan Stanley -- Analyst Steve Center -- Vice President of Office Properties Haendel St. Juste -- Mizuho Americas -- Analyst Jerry Gammieri -- Vice President of Construction and Development Michael Carroll -- RBC Capital Markets -- Analyst Steve Sullivan -- Vice President of Retail Properties Jeff Donnelly -- Wedbush Securities -- Analyst More AAT analysis This article is a transcript of this conference call produced for The Motley Fool. At American Assets Trust, our strategy is focused on these seven things: one, coastal West Coast markets from San Diego to Seattle and Hawaii, which have dynamic high-barrier-to-entry attributes, where the demographics [Inaudible] demand and local economies are strong and that, we believe, outperform other markets over time; two, diversification by asset class, we believe that the old system of a combination of office, retail, and multi-family properties as opposed to focusing as a single-asset class provides for superior positioning opportunities; three, consistent growth both organically and opportunistically, we believe that our NAV annualized growth over the last eight years has been approximately 12%, our annualized total shareholder return over the last years has also been approximately 12%, speaking to the quality of our portfolio; we -- four, we maintain a conservative balance sheet and debt profile; five, environmental sustainability and social responsibility, we use proven conservative methods to reduce carbon emissions, minimize our environmental impact, and preserve natural resources for future generations. | Operator [Operator signoff] Duration: 44 minutes Call Participants: Adam Wyll -- Senior Vice President and General Counsel Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer Bob Barton -- Executive Vice President and Chief Financial Officer Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer Craig Schmidt -- Bank of America Merrill Lynch -- Analyst Todd Thomas -- KeyBanc Capital Markets -- Analyst Chris Sullivan -- Vice President of Retail Properties Rich Hill -- Morgan Stanley -- Analyst Steve Center -- Vice President of Office Properties Haendel St. Juste -- Mizuho Americas -- Analyst Jerry Gammieri -- Vice President of Construction and Development Michael Carroll -- RBC Capital Markets -- Analyst Steve Sullivan -- Vice President of Retail Properties Jeff Donnelly -- Wedbush Securities -- Analyst More AAT analysis This article is a transcript of this conference call produced for The Motley Fool. American Assets Trust (NYSE: AAT) Q4 2018 Earnings Conference Call Feb. 13, 2019 11:00 a.m. As it relates to office or office portfolio, ended the quarter at approximately 90.9%, an increase of approximately 250 basis points on a comparative basis year over year, primarily due to an increase in occupancy at our City Center Bellevue and Torrey Reserve Campus in San Diego, leaving a vacancy of approximately 9.1% or 242,000 square feet of our 2.7 million square foot office portfolio. | Operator [Operator signoff] Duration: 44 minutes Call Participants: Adam Wyll -- Senior Vice President and General Counsel Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer Bob Barton -- Executive Vice President and Chief Financial Officer Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer Craig Schmidt -- Bank of America Merrill Lynch -- Analyst Todd Thomas -- KeyBanc Capital Markets -- Analyst Chris Sullivan -- Vice President of Retail Properties Rich Hill -- Morgan Stanley -- Analyst Steve Center -- Vice President of Office Properties Haendel St. Juste -- Mizuho Americas -- Analyst Jerry Gammieri -- Vice President of Construction and Development Michael Carroll -- RBC Capital Markets -- Analyst Steve Sullivan -- Vice President of Retail Properties Jeff Donnelly -- Wedbush Securities -- Analyst More AAT analysis This article is a transcript of this conference call produced for The Motley Fool. American Assets Trust (NYSE: AAT) Q4 2018 Earnings Conference Call Feb. 13, 2019 11:00 a.m. At American Assets Trust, our strategy is focused on these seven things: one, coastal West Coast markets from San Diego to Seattle and Hawaii, which have dynamic high-barrier-to-entry attributes, where the demographics [Inaudible] demand and local economies are strong and that, we believe, outperform other markets over time; two, diversification by asset class, we believe that the old system of a combination of office, retail, and multi-family properties as opposed to focusing as a single-asset class provides for superior positioning opportunities; three, consistent growth both organically and opportunistically, we believe that our NAV annualized growth over the last eight years has been approximately 12%, our annualized total shareholder return over the last years has also been approximately 12%, speaking to the quality of our portfolio; we -- four, we maintain a conservative balance sheet and debt profile; five, environmental sustainability and social responsibility, we use proven conservative methods to reduce carbon emissions, minimize our environmental impact, and preserve natural resources for future generations. | Operator [Operator signoff] Duration: 44 minutes Call Participants: Adam Wyll -- Senior Vice President and General Counsel Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer Bob Barton -- Executive Vice President and Chief Financial Officer Ernest Rady -- Chairman of the Board of Directors, President, and Chief Executive Officer Craig Schmidt -- Bank of America Merrill Lynch -- Analyst Todd Thomas -- KeyBanc Capital Markets -- Analyst Chris Sullivan -- Vice President of Retail Properties Rich Hill -- Morgan Stanley -- Analyst Steve Center -- Vice President of Office Properties Haendel St. Juste -- Mizuho Americas -- Analyst Jerry Gammieri -- Vice President of Construction and Development Michael Carroll -- RBC Capital Markets -- Analyst Steve Sullivan -- Vice President of Retail Properties Jeff Donnelly -- Wedbush Securities -- Analyst More AAT analysis This article is a transcript of this conference call produced for The Motley Fool. American Assets Trust (NYSE: AAT) Q4 2018 Earnings Conference Call Feb. 13, 2019 11:00 a.m. Of these leases signed, 63 leases consisting of approximately 239,000 square feet were for spaces previously leased. |
21029.0 | 2019-01-23 00:00:00 UTC | American Assets Trust (AAT) Upgraded to Strong Buy: Here's What You Should Know | AAT | https://www.nasdaq.com/articles/american-assets-trust-aat-upgraded-to-strong-buy%3A-heres-what-you-should-know-2019-01-23 | nan | nan | Investors might want to bet on American Assets Trust (AAT), as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.
A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.
The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.
Therefore, the Zacks rating upgrade for American Assets Trust basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.
Most Powerful Force Impacting Stock Prices
The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.
For American Assets Trust, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.
Harnessing the Power of Earnings Estimate Revisions
As empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power o f earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .
Earnings Estimate Revisions for American Assets Trust
For the fiscal year ending December 2018, this real estate investment trust is expected to earn $2.09 per share, which is a change of 8.9% from the year-ago reported number.
Analysts have been steadily raising their estimates for American Assets Trust. Over the past three months, the Zacks Consensus Estimate for the company has increased 2.1%.
Bottom Line
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of American Assets Trust to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
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American Assets Trust, Inc. (AAT): Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Investors might want to bet on American Assets Trust (AAT), as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. Therefore, the Zacks rating upgrade for American Assets Trust basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price. | Investors might want to bet on American Assets Trust (AAT), as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. | Investors might want to bet on American Assets Trust (AAT), as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. Most Powerful Force Impacting Stock Prices The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. | Investors might want to bet on American Assets Trust (AAT), as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. Therefore, the Zacks rating upgrade for American Assets Trust basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price. |
21030.0 | 2019-01-02 00:00:00 UTC | American Assets Trust Sees Hammer Chart Pattern: Time to Buy? | AAT | https://www.nasdaq.com/articles/american-assets-trust-sees-hammer-chart-pattern%3A-time-to-buy-2019-01-02 | nan | nan | American Assets Trust, Inc.AAT has been struggling lately, but the selling pressure may be coming to an end soon. That is because AAT recently saw a Hammer Chart Pattern which can signal that the stock is nearing a bottom.
What is a Hammer Chart Pattern?
A hammer chart pattern is a popular technical indicator that is used in candlestick charting. The hammer appears when a stock tumbles during the day, but then finds strength at some point in the session to close near or above its opening price. This forms a candlestick that resembles a hammer, and it can suggest that the market has found a low point in the stock, and that better days are ahead.
Other Factors
Plus, earnings estimates have been rising for this company, even despite the sluggish trading lately. In just the past 60 days alone 2 estimates have gone higher, compared to 1 lower, while the consensus estimate has also moved in the right direction.
Estimates have actually risen so much that the stock now has a Zacks Rank #2 (Buy) suggesting this relatively unloved stock could be due for a breakout soon. This will be especially true if AAT stock can build momentum from here and find a way to continue higher of off this encouraging trading development. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | This will be especially true if AAT stock can build momentum from here and find a way to continue higher of off this encouraging trading development. American Assets Trust, Inc.AAT has been struggling lately, but the selling pressure may be coming to an end soon. That is because AAT recently saw a Hammer Chart Pattern which can signal that the stock is nearing a bottom. | Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. American Assets Trust, Inc.AAT has been struggling lately, but the selling pressure may be coming to an end soon. That is because AAT recently saw a Hammer Chart Pattern which can signal that the stock is nearing a bottom. | That is because AAT recently saw a Hammer Chart Pattern which can signal that the stock is nearing a bottom. Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. American Assets Trust, Inc.AAT has been struggling lately, but the selling pressure may be coming to an end soon. | American Assets Trust, Inc.AAT has been struggling lately, but the selling pressure may be coming to an end soon. That is because AAT recently saw a Hammer Chart Pattern which can signal that the stock is nearing a bottom. This will be especially true if AAT stock can build momentum from here and find a way to continue higher of off this encouraging trading development. |
21031.0 | 2018-12-19 00:00:00 UTC | Agree Realty Amends Unsecured Term Loans Aggerating $100M | AAT | https://www.nasdaq.com/articles/agree-realty-amends-unsecured-term-loans-aggerating-%24100m-2018-12-19 | nan | nan | Agree Realty CorporationADC has entered into a pricing amendment on Dec 17, to reduce interest burden on two unsecured term loans worth $65 million and $35 million.
Particularly, the recast offers a new pricing grid above LIBOR on the term loans maturing on Jan 15, 2024. The interest rate on the borrowings will be reduced to a fixed rate of 3.13%, from a previous rate of 3.78%. Notably, the restatement has been determined by the company's credit rating.
Further, as the company continues to assess opportunities for interest savings, on Nov 2, 2018, it entered into another pricing amendment for a $40-million unsecured term loan maturing on Jul 1, 2023. Consequently, interest rate was brought down to a fixed rate of 2.40% as compared to a previous rate of 3.05%.
Understandably, these efforts provide a cheaper line of credit to the company and help reduce annualized interest expense. It will also boost Agree Realty'scash flow and alleviate its bottom-line pressure.
Per management, the amendment will enable the company to maintain a conservative balance sheet, with long-term, fixed-rate borrowings. In fact, such moves are strategic fit in the prevailing rising interest rate scenario.
In fact, short-term interest rate hikes have occurred for three consecutive quarters in 2018, and there is a high probability of another hike in December. This is a concern for Agree Realty as it would restrict the company's ability to refinance existing debt, while the interest cost on new debt would go up. This, in turn, might adversely impact the company's financial results and dent its ability to hike dividend.
Agree Realty currently carries a Zacks Rank #3 (Hold). In the past three months, shares of the company have outperformed the industry . While the stock has gained 9.2%, the industry has incurred a loss of 7.6% during this period.
Stocks to Consider
Better-ranked stocks from the REIT space include American Asset Trust AAT , PS Business Parks, Inc. PSB and OUTFRONT Media Inc. OUT . Each of these stocks carries a Zacks Rank of 2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
American Asset Trust' funds from operations (FFO) per share estimates for 2018 has been revised marginally upward to $2.10 in the last 60 days.
PS Business Parks' Zacks Consensus Estimate for 2018 FFO per share moved 1.3% north to $6.45 in the past two months.
OUTFRONT Media's FFO per share estimates for the current year has been revised 2% upward to $2.09 in two months' time.
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American Assets Trust, Inc. (AAT): Free Stock Analysis Report
Agree Realty Corporation (ADC): Free Stock Analysis Report
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PS Business Parks, Inc. (PSB): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Stocks to Consider Better-ranked stocks from the REIT space include American Asset Trust AAT , PS Business Parks, Inc. PSB and OUTFRONT Media Inc. OUT . Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Agree Realty Corporation (ADC): Free Stock Analysis Report OUTFRONT Media Inc. (OUT): Free Stock Analysis Report PS Business Parks, Inc. (PSB): Free Stock Analysis Report To read this article on Zacks.com click here. Further, as the company continues to assess opportunities for interest savings, on Nov 2, 2018, it entered into another pricing amendment for a $40-million unsecured term loan maturing on Jul 1, 2023. | Stocks to Consider Better-ranked stocks from the REIT space include American Asset Trust AAT , PS Business Parks, Inc. PSB and OUTFRONT Media Inc. OUT . Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Agree Realty Corporation (ADC): Free Stock Analysis Report OUTFRONT Media Inc. (OUT): Free Stock Analysis Report PS Business Parks, Inc. (PSB): Free Stock Analysis Report To read this article on Zacks.com click here. Agree Realty CorporationADC has entered into a pricing amendment on Dec 17, to reduce interest burden on two unsecured term loans worth $65 million and $35 million. | Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Agree Realty Corporation (ADC): Free Stock Analysis Report OUTFRONT Media Inc. (OUT): Free Stock Analysis Report PS Business Parks, Inc. (PSB): Free Stock Analysis Report To read this article on Zacks.com click here. Stocks to Consider Better-ranked stocks from the REIT space include American Asset Trust AAT , PS Business Parks, Inc. PSB and OUTFRONT Media Inc. OUT . The interest rate on the borrowings will be reduced to a fixed rate of 3.13%, from a previous rate of 3.78%. | Stocks to Consider Better-ranked stocks from the REIT space include American Asset Trust AAT , PS Business Parks, Inc. PSB and OUTFRONT Media Inc. OUT . Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Agree Realty Corporation (ADC): Free Stock Analysis Report OUTFRONT Media Inc. (OUT): Free Stock Analysis Report PS Business Parks, Inc. (PSB): Free Stock Analysis Report To read this article on Zacks.com click here. The interest rate on the borrowings will be reduced to a fixed rate of 3.13%, from a previous rate of 3.78%. |
21032.0 | 2018-12-17 00:00:00 UTC | What Makes American Assets Trust (AAT) a Strong Momentum Stock: Buy Now? | AAT | https://www.nasdaq.com/articles/what-makes-american-assets-trust-aat-a-strong-momentum-stock%3A-buy-now-2018-12-17 | nan | nan | Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores , helps address this issue for us.
Below, we take a look at American Assets Trust (AAT) , a company that currently holds a Momentum Style Score of B. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. American Assets Trust currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?
In order to see if AAT is a promising momentum pick, let's examine some Momentum Style elements to see if this real estate investment trust holds up.
Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.
For AAT, shares are up 1.39% over the past week while the Zacks REIT and Equity Trust - Retail industry is up 0.85% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 7.61% compares favorably with the industry's 0.82% performance as well.
Considering longer term price metrics, like performance over the last three months or year, can be advantageous as well. Shares of American Assets Trust have increased 10.9% over the past quarter, and have gained 7.61% in the last year. In comparison, the S&P 500 has only moved -9.98% and -0.03%, respectively.
Investors should also pay attention to AAT's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. AAT is currently averaging 219,717 shares for the last 20 days.
Earnings Outlook
The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with AAT.
Over the past two months, 2 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost AAT's consensus estimate, increasing from $2.08 to $2.10 in the past 60 days. Looking at the next fiscal year, 3 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom Line
Taking into account all of these elements, it should come as no surprise that AAT is a #2 (Buy) stock with a Momentum Score of B. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep American Assets Trust on your short list.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Below, we take a look at American Assets Trust (AAT) , a company that currently holds a Momentum Style Score of B. In order to see if AAT is a promising momentum pick, let's examine some Momentum Style elements to see if this real estate investment trust holds up. For AAT, shares are up 1.39% over the past week while the Zacks REIT and Equity Trust - Retail industry is up 0.85% over the same time period. | Below, we take a look at American Assets Trust (AAT) , a company that currently holds a Momentum Style Score of B. Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. In order to see if AAT is a promising momentum pick, let's examine some Momentum Style elements to see if this real estate investment trust holds up. | Below, we take a look at American Assets Trust (AAT) , a company that currently holds a Momentum Style Score of B. In order to see if AAT is a promising momentum pick, let's examine some Momentum Style elements to see if this real estate investment trust holds up. For AAT, shares are up 1.39% over the past week while the Zacks REIT and Equity Trust - Retail industry is up 0.85% over the same time period. | AAT is currently averaging 219,717 shares for the last 20 days. Below, we take a look at American Assets Trust (AAT) , a company that currently holds a Momentum Style Score of B. In order to see if AAT is a promising momentum pick, let's examine some Momentum Style elements to see if this real estate investment trust holds up. |
21033.0 | 2018-12-11 00:00:00 UTC | American Assets Trust, Inc. (AAT) Ex-Dividend Date Scheduled for December 12, 2018 | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-ex-dividend-date-scheduled-december-12-2018-2018-12-11 | nan | nan | American Assets Trust, Inc. ( AAT ) will begin trading ex-dividend on December 12, 2018. A cash dividend payment of $0.28 per share is scheduled to be paid on December 27, 2018. Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. This represents an 3.7% increase over prior dividend payment. At the current stock price of $41.68, the dividend yield is 2.69%.
The previous trading day's last sale of AAT was $41.68, representing a -2.73% decrease from the 52 week high of $42.85 and a 36.12% increase over the 52 week low of $30.62.
AAT is a part of the Consumer Services sector, which includes companies such as American Tower Corporation (REIT) ( AMT ) and Simon Property Group, Inc. ( SPG ). AAT's current earnings per share, an indicator of a company's profitability, is $.43. Zacks Investment Research reports AAT's forecasted earnings growth in 2018 as 9.37%, compared to an industry average of -1.3%.
For more information on the declaration, record and payment dates, visit the AAT Dividend History page. Our Dividend Calendar has the full list of stocks that have an ex-dividend today.
Interested in gaining exposure to AAT through an Exchange Traded Fund [ETF]?
The following ETF(s) have AAT as a top-10 holding:
Direxion Daily Real Estate Bull 3x Shares ( DRN ).
The top-performing ETF of this group is DRN with an increase of 3.73% over the last 100 days.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AAT is a part of the Consumer Services sector, which includes companies such as American Tower Corporation (REIT) ( AMT ) and Simon Property Group, Inc. ( SPG ). Zacks Investment Research reports AAT's forecasted earnings growth in 2018 as 9.37%, compared to an industry average of -1.3%. The following ETF(s) have AAT as a top-10 holding: Direxion Daily Real Estate Bull 3x Shares ( DRN ). | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. American Assets Trust, Inc. ( AAT ) will begin trading ex-dividend on December 12, 2018. Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. | Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. The previous trading day's last sale of AAT was $41.68, representing a -2.73% decrease from the 52 week high of $42.85 and a 36.12% increase over the 52 week low of $30.62. For more information on the declaration, record and payment dates, visit the AAT Dividend History page. | AAT's current earnings per share, an indicator of a company's profitability, is $.43. American Assets Trust, Inc. ( AAT ) will begin trading ex-dividend on December 12, 2018. Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. |
21034.0 | 2018-12-10 00:00:00 UTC | Here's Why Arrowhead Pharmaceuticals Jumped 14.1% in November | AAT | https://www.nasdaq.com/articles/heres-why-arrowhead-pharmaceuticals-jumped-141-november-2018-12-10 | nan | nan | What happened
Shares of Arrowhead Pharmaceuticals (NASDAQ: ARWR) rose over 14% last month, according to data provided by S&P Global Market Intelligence . The stock actually had gains nearly double that on Nov. 9, when it announced two late-breaking poster presentations at the Annual Meeting of the American Association for the Study of Liver Disease (AASLD). Why is that important?
Getting into an important medical meeting after the abstract submission deadline is difficult to do, but companies with exceptional data can coax conference schedulers into letting them grab a microphone and some floor space in the poster hall. Turns out, Arrowhead Pharmaceuticals didn't disappoint with its two late-breakers.
So what
In the first poster, Arrowhead Pharmaceuticals presented data for ARO-HBV as a treatment for chronic hepatitis B virus (HBV). The third-generation RNA interference (RNAi) therapy demonstrated an average viral reduction of 98.7% with a range of 95% to 99.98%. The drug is being developed in an ongoing phase 1/2 clinical trial with Janssen, which forked over an upfront milestone payment of $175 million in October .
In the second poster, Arrowhead Pharmaceuticals presented data for ARO-AAT as a treatment for alpha-1 antitrypsin (AAT) deficiency. The second-generation RNAi therapy demonstrated promising potential to reduce levels of AAT in the blood (the disease is called AAT deficiency , but defective copies of the AAT protein can accumulate in the liver and cause scarring and liver diseases). Patients receiving a single 200 mg or 300 mg dose saw AAT levels reduced over 90% for at least six weeks. Patients receiving one injection of either dose per month for three months sustained greater than 90% reductions of AAT for 14 weeks.
Arrowhead Pharmaceuticals thinks the data for ARO-AAT suggest it may be feasible to pursue a treatment option of one 300 mg dose per quarter, or perhaps even less frequently.
Now what
A little over one year ago, Arrowhead Pharmaceuticals had a market cap of less than $120 million following some missteps in the clinic, but its new focus on next-generation RNAi therapies is certainly paying off now. The biopharma has earned a market cap of $1.2 billion today. While there's still a long way to go to wrap up the ongoing phase 1 studies and initiate a phase 2 study for each ARO-HBV and ARO-AAT, let alone gain marketing approval, existing shareholders might just have a winner on their hands. Investors looking to begin a new position might want to wait for a pullback before jumping in, although the new partnership with Janssen significantly de-risks this biopharma stock.
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Maxx Chatsko has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Arrowhead Pharmaceuticals thinks the data for ARO-AAT suggest it may be feasible to pursue a treatment option of one 300 mg dose per quarter, or perhaps even less frequently. In the second poster, Arrowhead Pharmaceuticals presented data for ARO-AAT as a treatment for alpha-1 antitrypsin (AAT) deficiency. The second-generation RNAi therapy demonstrated promising potential to reduce levels of AAT in the blood (the disease is called AAT deficiency , but defective copies of the AAT protein can accumulate in the liver and cause scarring and liver diseases). | In the second poster, Arrowhead Pharmaceuticals presented data for ARO-AAT as a treatment for alpha-1 antitrypsin (AAT) deficiency. Patients receiving a single 200 mg or 300 mg dose saw AAT levels reduced over 90% for at least six weeks. The second-generation RNAi therapy demonstrated promising potential to reduce levels of AAT in the blood (the disease is called AAT deficiency , but defective copies of the AAT protein can accumulate in the liver and cause scarring and liver diseases). | In the second poster, Arrowhead Pharmaceuticals presented data for ARO-AAT as a treatment for alpha-1 antitrypsin (AAT) deficiency. The second-generation RNAi therapy demonstrated promising potential to reduce levels of AAT in the blood (the disease is called AAT deficiency , but defective copies of the AAT protein can accumulate in the liver and cause scarring and liver diseases). Patients receiving a single 200 mg or 300 mg dose saw AAT levels reduced over 90% for at least six weeks. | In the second poster, Arrowhead Pharmaceuticals presented data for ARO-AAT as a treatment for alpha-1 antitrypsin (AAT) deficiency. The second-generation RNAi therapy demonstrated promising potential to reduce levels of AAT in the blood (the disease is called AAT deficiency , but defective copies of the AAT protein can accumulate in the liver and cause scarring and liver diseases). Patients receiving a single 200 mg or 300 mg dose saw AAT levels reduced over 90% for at least six weeks. |
21035.0 | 2018-12-06 00:00:00 UTC | Thursday 12/6 Insider Buying Report: AAT, BKI | AAT | https://www.nasdaq.com/articles/thursday-126-insider-buying-report-aat-bki-2018-12-06 | nan | nan | As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy - they expect to make money. So let's look at two noteworthy recent insider buys.
On Tuesday, American Assets Trust ( AAT )'s Director, Duane Nelles, made a $1.04M buy of AAT, purchasing 25,000 shares at a cost of $41.74 a piece. Investors have the opportunity to buy AAT even cheaper than Nelles did, with the stock changing hands as low as $41.06 in trading on Thursday which is 1.6% below Nelles's purchase price. American Assets Trust is trading off about 0.5% on the day Thursday.
And at Black Knight ( BKI ), there was insider buying on Tuesday, by Chief Executive Officer Anthony M. Jabbour who bought 22,140 shares for a cost of $45.17 each, for a total investment of $999,969. Black Knight is trading down about 0.3% on the day Thursday. Bargain hunters can snag BKI at a price even lower than Jabbour did, with shares changing hands as low as $43.05 in trading on Thursday which is 4.7% below Jabbour's purchase price.
VIDEO: Thursday 12/6 Insider Buying Report: AAT, BKI
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | VIDEO: Thursday 12/6 Insider Buying Report: AAT, BKI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. On Tuesday, American Assets Trust ( AAT )'s Director, Duane Nelles, made a $1.04M buy of AAT, purchasing 25,000 shares at a cost of $41.74 a piece. Investors have the opportunity to buy AAT even cheaper than Nelles did, with the stock changing hands as low as $41.06 in trading on Thursday which is 1.6% below Nelles's purchase price. | On Tuesday, American Assets Trust ( AAT )'s Director, Duane Nelles, made a $1.04M buy of AAT, purchasing 25,000 shares at a cost of $41.74 a piece. Investors have the opportunity to buy AAT even cheaper than Nelles did, with the stock changing hands as low as $41.06 in trading on Thursday which is 1.6% below Nelles's purchase price. VIDEO: Thursday 12/6 Insider Buying Report: AAT, BKI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Investors have the opportunity to buy AAT even cheaper than Nelles did, with the stock changing hands as low as $41.06 in trading on Thursday which is 1.6% below Nelles's purchase price. VIDEO: Thursday 12/6 Insider Buying Report: AAT, BKI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. On Tuesday, American Assets Trust ( AAT )'s Director, Duane Nelles, made a $1.04M buy of AAT, purchasing 25,000 shares at a cost of $41.74 a piece. | On Tuesday, American Assets Trust ( AAT )'s Director, Duane Nelles, made a $1.04M buy of AAT, purchasing 25,000 shares at a cost of $41.74 a piece. Investors have the opportunity to buy AAT even cheaper than Nelles did, with the stock changing hands as low as $41.06 in trading on Thursday which is 1.6% below Nelles's purchase price. VIDEO: Thursday 12/6 Insider Buying Report: AAT, BKI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
21036.0 | 2018-12-01 00:00:00 UTC | Better Buy: Vertex Pharmaceuticals vs. Regeneron Pharmaceuticals | AAT | https://www.nasdaq.com/articles/better-buy-vertex-pharmaceuticals-vs-regeneron-pharmaceuticals-2018-12-01 | nan | nan | Ascending and descending? That might be how some investors view Vertex Pharmaceuticals (NASDAQ: VRTX) and Regeneron Pharmaceuticals (NASDAQ: REGN) , respectively.
Vertex made less than half the revenue that Regeneron did over the last 12 months, but its market cap is higher than Regeneron's is. It's not surprising that Vertex stock has climbed more than 20% so far in 2018, while Regeneron's share price is in negative territory year to date.
Investors are clearly excited about Vertex's new cystic fibrosis drugs. They don't appear nearly as enthused about Regeneron's current products and pipeline, though.
But is the conventional wisdom right that Vertex is the better pick? Or could Regeneron be a sleeping giant about to awaken?
The case for Vertex
For all practical purposes, Vertex enjoys a monopoly in treating cystic fibrosis (CF). The company's three products -- Kalydeco, Orkambi, and Symdeko -- are currently the only approved therapies that address the underlying cause of the genetic disease.
There are around 75,000 CF patients in North America, Europe, and Australia. Vertex's current drugs can help many of these patients, but more than 40% of them have mutations existing therapies can't treat. And not all of the patients that could be helped by Kalydeco, Orkambi, or Symdeko currently receive treatment. That gives the biotech a big runway for growth.
Vertex appears to be in great shape to capitalize on the opportunity. The biotech recently reported great late-stage results for a triple-drug combination of VX-659, tezacaftor, and ivacaftor. Vertex also has a couple of phase 3 studies of triple-drug combos of VX-445, tezacaftor, and ivacaftor in progress. Results from those studies should be available in the first quarter of 2019.
Those VX-659 combo results were good enough to use in an FDA submission. However, Vertex is waiting to see if the VX-445 combo works even better. The bottom line is that the biotech is in a great position to file for approval of a triple-drug combo no later than mid-2019. Whichever combo wins, Vertex should be on track to treat an additional 24,000 patients in the not-too-distant future.
That leaves around 9,000 CF patients with no treatment. Vertex teamed up with CRISPR Therapeutics (NASDAQ: CRSP) to develop gene-editing therapies to help the remaining patients as well. The two companies are also working together on gene-editing therapies for blood disorders beta-thalassemia and sickle cell disease.
And Vertex is aiming to expand into other indications. The biotech expects to report results from a phase 2 clinical study of pain drug VX-150 in early 2019. It also plans to soon begin a phase 1 study evaluating a candidate in treating rare genetic disease alpha-1 antitrypsin deficiency (AAT).
The case for Regeneron
Regeneron already claims a successful blockbuster with Eylea. The drug has been approved for treating three eye diseases: age-related macular degeneration, diabetic macular edema, and retinal vein occlusion.
While Eylea continues to generate lots of cash, Regeneron also has several newer products that are generating sales growth. The most important of these is Dupixent. Regeneron and Sanofi (NYSE: SNY) co-market the drug, which is currently approved for treating atopic dermatitis (eczema) and asthma.
Sanofi also teamed up with Regeneron on several other drugs. Cholesterol drug Praluent got off to a slow start, but sales are beginning to pick up considerably. Momentum should really kick in if the FDA approves the addition of positive results from a cardiovascular outcomes study to the drug's product label. In addition, the alliance between Sanofi and Regeneron produced rheumatoid arthritis drug Kevzara and cancer drug Zaltrap.
Regeneron and Sanofi won yet another FDA approval in September 2018. Libtayo became the first -- and, for now, only -- approved drug for advanced cutaneous squamous cell carcinoma (CSCC), the second-most-common skin cancer behind melanoma.
The biotech has several late-stage clinical studies in progress in hopes of gaining additional indications for already-approved drugs, including Eylea and Dupixent. In addition, Regeneron is collaborating with Teva and Mitsubishi Tanabe Pharma on late-stage candidate evinacumab in treating rare genetic disease homozygous familial hypercholesterolemia (HoFH).
Better buy
Which of these two biotech stocks is the better choice? My colleague Todd Campbell likes Regeneron, picking it as his favorite large-cap biotech stock to buy a couple of months ago. Todd's optimism was based on FDA approvals for Dupixent in asthma and for Libtayo in CSCC (both of which subsequently happened), the potential addition of the cardiovascular outcomes data to Praluent's label (expected by April 2019), and a growing market for Eylea.
I agree with Todd that Regeneron could see some better days ahead. However, my view is that Vertex is the better alternative between these two biotech stocks.
In my opinion, Vertex is on track for much stronger growth than Regeneron is over the next several years. Even though Vertex has a forward earnings multiple of nearly 44, I continue to believe that this stock isn't nearly as expensive as it looks because of those growth prospects.
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Keith Speights owns shares of Vertex Pharmaceuticals. The Motley Fool owns shares of CRISPR Therapeutics. The Motley Fool recommends Vertex Pharmaceuticals. The Motley Fool has a disclosure policy .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | It also plans to soon begin a phase 1 study evaluating a candidate in treating rare genetic disease alpha-1 antitrypsin deficiency (AAT). The biotech has several late-stage clinical studies in progress in hopes of gaining additional indications for already-approved drugs, including Eylea and Dupixent. In addition, Regeneron is collaborating with Teva and Mitsubishi Tanabe Pharma on late-stage candidate evinacumab in treating rare genetic disease homozygous familial hypercholesterolemia (HoFH). | It also plans to soon begin a phase 1 study evaluating a candidate in treating rare genetic disease alpha-1 antitrypsin deficiency (AAT). That might be how some investors view Vertex Pharmaceuticals (NASDAQ: VRTX) and Regeneron Pharmaceuticals (NASDAQ: REGN) , respectively. Momentum should really kick in if the FDA approves the addition of positive results from a cardiovascular outcomes study to the drug's product label. | It also plans to soon begin a phase 1 study evaluating a candidate in treating rare genetic disease alpha-1 antitrypsin deficiency (AAT). That might be how some investors view Vertex Pharmaceuticals (NASDAQ: VRTX) and Regeneron Pharmaceuticals (NASDAQ: REGN) , respectively. Vertex made less than half the revenue that Regeneron did over the last 12 months, but its market cap is higher than Regeneron's is. | It also plans to soon begin a phase 1 study evaluating a candidate in treating rare genetic disease alpha-1 antitrypsin deficiency (AAT). The biotech has several late-stage clinical studies in progress in hopes of gaining additional indications for already-approved drugs, including Eylea and Dupixent. My colleague Todd Campbell likes Regeneron, picking it as his favorite large-cap biotech stock to buy a couple of months ago. |
21037.0 | 2018-10-30 00:00:00 UTC | American Assets Trust (AAT) Q3 FFO and Revenues Top Estimates | AAT | https://www.nasdaq.com/articles/american-assets-trust-aat-q3-ffo-and-revenues-top-estimates-2018-10-30 | nan | nan | American Assets Trust (AAT) came out with quarterly funds from operations (FFO) of $0.53 per share, beating the Zacks Consensus Estimate of $0.50 per share. This compares to FFO of $0.52 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an FFO surprise of 6%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.51 per share when it actually produced FFO of $0.58, delivering a surprise of 13.73%.
Over the last four quarters, the company has surpassed consensus FFO estimates three times.
American Assets Trust, which belongs to the Zacks REIT and Equity Trust - Retail industry, posted revenues of $82.51 million for the quarter ended September 2018, surpassing the Zacks Consensus Estimate by 4.01%. This compares to year-ago revenues of $82.34 million. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.
American Assets Trust shares have lost about 1% since the beginning of the year versus the S&P 500's decline of -1.2%.
What's Next for American Assets Trust?
While American Assets Trust has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions.
Ahead of this earnings release, the estimate revisions trend for American Assets Trust was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus FFO estimate is $0.50 on $80.59 million in revenues for the coming quarter and $2.09 on $327.13 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Retail is currently in the bottom 18% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | American Assets Trust (AAT) came out with quarterly funds from operations (FFO) of $0.53 per share, beating the Zacks Consensus Estimate of $0.50 per share. Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call. | Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. American Assets Trust (AAT) came out with quarterly funds from operations (FFO) of $0.53 per share, beating the Zacks Consensus Estimate of $0.50 per share. American Assets Trust, which belongs to the Zacks REIT and Equity Trust - Retail industry, posted revenues of $82.51 million for the quarter ended September 2018, surpassing the Zacks Consensus Estimate by 4.01%. | American Assets Trust (AAT) came out with quarterly funds from operations (FFO) of $0.53 per share, beating the Zacks Consensus Estimate of $0.50 per share. Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. American Assets Trust, which belongs to the Zacks REIT and Equity Trust - Retail industry, posted revenues of $82.51 million for the quarter ended September 2018, surpassing the Zacks Consensus Estimate by 4.01%. | American Assets Trust (AAT) came out with quarterly funds from operations (FFO) of $0.53 per share, beating the Zacks Consensus Estimate of $0.50 per share. Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. While American Assets Trust has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? |
21038.0 | 2018-10-29 00:00:00 UTC | This is Why American Assets Trust (AAT) is a Great Dividend Stock | AAT | https://www.nasdaq.com/articles/this-is-why-american-assets-trust-aat-is-a-great-dividend-stock-2018-10-29 | nan | nan | Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. However, when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.
Cash flow can come from bond interest, interest from other types of investments, and of course, dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by its dividend yield, a metric that measures the dividend as a percent of the current stock price. Many academic studies show that dividends make up large portions of long-term returns, and in many cases, dividend contributions surpass one-third of total returns.
American Assets Trust in Focus
Headquartered in San Diego, American Assets Trust (AAT) is a Finance stock that has seen a price change of -3.45% so far this year. The real estate investment trust is paying out a dividend of $0.27 per share at the moment, with a dividend yield of 2.93% compared to the REIT and Equity Trust - Retail industry's yield of 5.45% and the S&P 500's yield of 2.02%.
Taking a look at the company's dividend growth, its current annualized dividend of $1.08 is up 2.9% from last year. In the past five-year period, American Assets Trust has increased its dividend 5 times on a year-over-year basis for an average annual increase of 5.15%. Any future dividend growth will depend on both earnings growth and the company's payout ratio; a payout ratio is the proportion of a firm's annual earnings per share that it pays out as a dividend. American Assets Trust's current payout ratio is 52%. This means it paid out 52% of its trailing 12-month EPS as dividend.
Looking at this fiscal year, AAT expects solid earnings growth. The Zacks Consensus Estimate for 2018 is $2.09 per share, representing a year-over-year earnings growth rate of 8.85%.
Bottom Line
Investors like dividends for many reasons; they greatly improve stock investing profits, decrease overall portfolio risk, and carry tax advantages, among others. But, not every company offers a quarterly payout.
For instance, it's a rare occurrence when a tech start-up or big growth business offers their shareholders a dividend. It's more common to see larger companies with more established profits give out dividends. Income investors have to be mindful of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. With that in mind, AAT is a compelling investment opportunity. Not only is it a strong dividend play, but the stock currently sits at a Zacks Rank of 3 (Hold).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | American Assets Trust in Focus Headquartered in San Diego, American Assets Trust (AAT) is a Finance stock that has seen a price change of -3.45% so far this year. Looking at this fiscal year, AAT expects solid earnings growth. With that in mind, AAT is a compelling investment opportunity. | Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. American Assets Trust in Focus Headquartered in San Diego, American Assets Trust (AAT) is a Finance stock that has seen a price change of -3.45% so far this year. Looking at this fiscal year, AAT expects solid earnings growth. | American Assets Trust in Focus Headquartered in San Diego, American Assets Trust (AAT) is a Finance stock that has seen a price change of -3.45% so far this year. Looking at this fiscal year, AAT expects solid earnings growth. With that in mind, AAT is a compelling investment opportunity. | American Assets Trust in Focus Headquartered in San Diego, American Assets Trust (AAT) is a Finance stock that has seen a price change of -3.45% so far this year. Looking at this fiscal year, AAT expects solid earnings growth. With that in mind, AAT is a compelling investment opportunity. |
21039.0 | 2018-10-28 00:00:00 UTC | Better Buy: Vertex Pharmaceuticals Incorporated vs. Incyte Corporation | AAT | https://www.nasdaq.com/articles/better-buy-vertex-pharmaceuticals-incorporated-vs-incyte-corporation-2018-10-28 | nan | nan | Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) could be the poster child of pipeline success in the biotech world. The company's cystic fibrosis (CF) therapies have steadily advanced through clinical studies with positive results and then on to commercialization. Incyte Corporation (NASDAQ: INCY) , however, wouldn't show up on the poster, with a big pipeline setback earlier this year.
The pipeline ups and downs for these two biotechs are reflected in the performance of their respective stocks. But which is the better pick for investors now? Here are the top investing arguments for both Vertex and Incyte.
The case for Vertex
Vertex essentially claims a monopoly in treating cystic fibrosis. The biotech's three drugs -- Kalydeco, Orkambi, and Symdeko -- are currently the only approved therapies that address the underlying causes of CF.
The company could soon add to its CF juggernaut. Vertex should report results from a late-stage clinical study of a triple-drug combination featuring VX-659 by the end of this year. It also expects to announce results from another late-stage study of a triple-drug combo including VX-445 by early 2019. Look for Vertex to submit for regulatory approval by the middle of next year.
What's great about these triple-drug regimens is that they could expand Vertex's total addressable market by more than 50%. And the company still hasn't maxed out its current opportunity with Kalydeco, Orkambi, and Symdeko.
While Vertex continues to rock along in CF, it's also expanding beyond the indication. The biotech's pipeline includes four promising therapies targeting other areas. Vertex and partner CRISPR Therapeutics are evaluating gene-editing therapy CTX001 in a phase 1 study for treating rare blood disorder beta thalassemia. The two companies also plan to initiate another phase 1 study of CTX001 in treating sickle cell disease by the end of 2018.
Vertex also will soon begin a phase 2 study of VX-150 in managing post-operative acute pain and expects to announce results from another phase 2 study of the drug in treating pain caused by small fiber neuropathy in early 2019. In addition, the company plans to start a clinical study of a corrector for mutations causing rare genetic disease alpha-1 antitrypsin deficiency (AAT) by the end of this year.
With momentum picking up for its current CF drugs and more potential winners in its pipeline, Wall Street analysts project that Vertex will grow earnings by more than 50% annually over the next five years. The biotech is also increasing its cash stockpile and could make additional acquisitions to fuel future growth.
The case for Incyte
The bad news for Incyte is that its once-promising IDO inhibitor epacadostat flopped in a clinical study earlier this year . The good news, though, is that Incyte continues to enjoy solid revenue growth thanks to its three approved products -- Jakafi, Iclusig, and Olumiant (which is marketed by Eli Lilly ).
Jakafi is the biggest winner of the group. The JAK1/JAK2 inhibitor appears to be on track to rake in more than $1.3 billion this year. And that doesn't include royalties that Novartis pays Incyte on sales of the drug outside of the U.S.
Leukemia drug Iclusig doesn't contribute nearly as much as Jakafi, with sales likely to top $80 million in 2018. However, its momentum is gaining steam, with year-over-year growth so far this year for Iclusig even stronger than that of Jakafi.
It's still too soon to know how well Olumiant will fare. The drug received FDA approval for treating rheumatoid arthritis in June 2018 but its product label includes a black box warning for the risk of serious infections, malignancies, and thrombosis.
Despite the setback with epacadostat, Incyte's pipeline still includes several candidates with significant potential. Itacitinib is being evaluated in a couple of pivotal studies for treating acute graft-versus-host disease (GVHD) and chronic GVHD. Incyte is exploring the use of INCB50465 as a monotherapy and in combination with Jakafi in clinical studies targeting several types of cancer. Pemagatinib is another promising cancer drug for which Incyte expects to file for approval next year.
Thanks largely to the success for Jakafi, Incyte is in a great financial position. The company reported cash, cash equivalents, and marketable securities of $1.2 billion as of June 30, 2018. With its nice cash stockpile and growing sales, Incyte should be able to pick up additional pipeline assets to drive growth.
Better buy
Vertex should be able to rapidly increase its revenue and earnings with its current three CF drugs. Its prospects for approval of the triple-drug combos in pivotal studies appear to be very good. Over time, Vertex also has a decent chance of succeeding in other therapeutic areas beyond CF.
Vertex's growth prospects, in my view, are clearly stronger than Incyte's are at this point. I think that makes Vertex the better choice for long-term investors.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In addition, the company plans to start a clinical study of a corrector for mutations causing rare genetic disease alpha-1 antitrypsin deficiency (AAT) by the end of this year. With momentum picking up for its current CF drugs and more potential winners in its pipeline, Wall Street analysts project that Vertex will grow earnings by more than 50% annually over the next five years. The drug received FDA approval for treating rheumatoid arthritis in June 2018 but its product label includes a black box warning for the risk of serious infections, malignancies, and thrombosis. | In addition, the company plans to start a clinical study of a corrector for mutations causing rare genetic disease alpha-1 antitrypsin deficiency (AAT) by the end of this year. The biotech's three drugs -- Kalydeco, Orkambi, and Symdeko -- are currently the only approved therapies that address the underlying causes of CF. The biotech's pipeline includes four promising therapies targeting other areas. | In addition, the company plans to start a clinical study of a corrector for mutations causing rare genetic disease alpha-1 antitrypsin deficiency (AAT) by the end of this year. Vertex should report results from a late-stage clinical study of a triple-drug combination featuring VX-659 by the end of this year. Vertex also will soon begin a phase 2 study of VX-150 in managing post-operative acute pain and expects to announce results from another phase 2 study of the drug in treating pain caused by small fiber neuropathy in early 2019. | In addition, the company plans to start a clinical study of a corrector for mutations causing rare genetic disease alpha-1 antitrypsin deficiency (AAT) by the end of this year. The company's cystic fibrosis (CF) therapies have steadily advanced through clinical studies with positive results and then on to commercialization. Vertex should report results from a late-stage clinical study of a triple-drug combination featuring VX-659 by the end of this year. |
21040.0 | 2018-09-11 00:00:00 UTC | American Assets Trust, Inc. (AAT) Ex-Dividend Date Scheduled for September 12, 2018 | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-ex-dividend-date-scheduled-september-12-2018-2018-09-11 | nan | nan | American Assets Trust, Inc. ( AAT ) will begin trading ex-dividend on September 12, 2018. A cash dividend payment of $0.27 per share is scheduled to be paid on September 27, 2018. Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. This marks the 4th quarter that AAT has paid the same dividend. At the current stock price of $38.86, the dividend yield is 2.78%.
The previous trading day's last sale of AAT was $38.86, representing a -6.79% decrease from the 52 week high of $41.69 and a 26.91% increase over the 52 week low of $30.62.
AAT is a part of the Consumer Services sector, which includes companies such as American Tower Corporation (REIT) ( AMT ) and Simon Property Group, Inc. ( SPG ). AAT's current earnings per share, an indicator of a company's profitability, is $.4. Zacks Investment Research reports AAT's forecasted earnings growth in 2018 as 7.68%, compared to an industry average of -1%.
For more information on the declaration, record and payment dates, visit the AAT Dividend History page. Our Dividend Calendar has the full list of stocks that have an ex-dividend today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AAT is a part of the Consumer Services sector, which includes companies such as American Tower Corporation (REIT) ( AMT ) and Simon Property Group, Inc. ( SPG ). Zacks Investment Research reports AAT's forecasted earnings growth in 2018 as 7.68%, compared to an industry average of -1%. For more information on the declaration, record and payment dates, visit the AAT Dividend History page. | AAT's current earnings per share, an indicator of a company's profitability, is $.4. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. American Assets Trust, Inc. ( AAT ) will begin trading ex-dividend on September 12, 2018. | Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. This marks the 4th quarter that AAT has paid the same dividend. For more information on the declaration, record and payment dates, visit the AAT Dividend History page. | Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. American Assets Trust, Inc. ( AAT ) will begin trading ex-dividend on September 12, 2018. This marks the 4th quarter that AAT has paid the same dividend. |
21041.0 | 2018-09-10 00:00:00 UTC | Ex-Dividend Reminder: Mercury General Corp., American Assets Trust and Popular | AAT | https://www.nasdaq.com/articles/ex-dividend-reminder-mercury-general-corp-american-assets-trust-and-popular-2018-09-10 | nan | nan | Looking at the universe of stocks we cover at Dividend Channel , on 9/12/18, Mercury General Corp. (Symbol: MCY), American Assets Trust Inc (Symbol: AAT), and Popular Inc. (Symbol: BPOP) will all trade ex-dividend for their respective upcoming dividends. Mercury General Corp. will pay its quarterly dividend of $0.625 on 9/27/18, American Assets Trust Inc will pay its quarterly dividend of $0.27 on 9/27/18, and Popular Inc. will pay its quarterly dividend of $0.25 on 10/1/18. As a percentage of MCY's recent stock price of $53.76, this dividend works out to approximately 1.16%, so look for shares of Mercury General Corp. to trade 1.16% lower - all else being equal - when MCY shares open for trading on 9/12/18. Similarly, investors should look for AAT to open 0.70% lower in price and for BPOP to open 0.49% lower, all else being equal.
Below are dividend history charts for MCY, AAT, and BPOP, showing historical dividends prior to the most recent ones declared.
Mercury General Corp. (Symbol: MCY) :
American Assets Trust Inc (Symbol: AAT) :
Popular Inc. (Symbol: BPOP) :
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 4.65% for Mercury General Corp., 2.78% for American Assets Trust Inc, and 1.96% for Popular Inc..
In Monday trading, Mercury General Corp. shares are currently up about 0.6%, American Assets Trust Inc shares are up about 0.9%, and Popular Inc. shares are up about 0.7% on the day.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Looking at the universe of stocks we cover at Dividend Channel , on 9/12/18, Mercury General Corp. (Symbol: MCY), American Assets Trust Inc (Symbol: AAT), and Popular Inc. (Symbol: BPOP) will all trade ex-dividend for their respective upcoming dividends. Similarly, investors should look for AAT to open 0.70% lower in price and for BPOP to open 0.49% lower, all else being equal. Below are dividend history charts for MCY, AAT, and BPOP, showing historical dividends prior to the most recent ones declared. | Looking at the universe of stocks we cover at Dividend Channel , on 9/12/18, Mercury General Corp. (Symbol: MCY), American Assets Trust Inc (Symbol: AAT), and Popular Inc. (Symbol: BPOP) will all trade ex-dividend for their respective upcoming dividends. Mercury General Corp. (Symbol: MCY) : American Assets Trust Inc (Symbol: AAT) : Popular Inc. (Symbol: BPOP) : In general, dividends are not always predictable, following the ups and downs of company profits over time. Similarly, investors should look for AAT to open 0.70% lower in price and for BPOP to open 0.49% lower, all else being equal. | Looking at the universe of stocks we cover at Dividend Channel , on 9/12/18, Mercury General Corp. (Symbol: MCY), American Assets Trust Inc (Symbol: AAT), and Popular Inc. (Symbol: BPOP) will all trade ex-dividend for their respective upcoming dividends. Mercury General Corp. (Symbol: MCY) : American Assets Trust Inc (Symbol: AAT) : Popular Inc. (Symbol: BPOP) : In general, dividends are not always predictable, following the ups and downs of company profits over time. Similarly, investors should look for AAT to open 0.70% lower in price and for BPOP to open 0.49% lower, all else being equal. | Looking at the universe of stocks we cover at Dividend Channel , on 9/12/18, Mercury General Corp. (Symbol: MCY), American Assets Trust Inc (Symbol: AAT), and Popular Inc. (Symbol: BPOP) will all trade ex-dividend for their respective upcoming dividends. Similarly, investors should look for AAT to open 0.70% lower in price and for BPOP to open 0.49% lower, all else being equal. Below are dividend history charts for MCY, AAT, and BPOP, showing historical dividends prior to the most recent ones declared. |
21042.0 | 2018-07-27 00:00:00 UTC | Synchrony Financial's (SYF) Q2 Earnings Beat, Improve Y/Y | AAT | https://www.nasdaq.com/articles/synchrony-financials-syf-q2-earnings-beat-improve-y-y-2018-07-27 | nan | nan | Synchrony Financial' s SYF second-quarter 2018 earnings per share of 92 cents surpassed the Zacks Consensus Estimate of 82 cents by 12.2%, mainly driven by interchange revenues and loan receivables growth. The bottom line also improved 51% year over year.
Synchrony Financial Price and EPS Surprise
Synchrony Financial Price and EPS Surprise | Synchrony Financial Quote
Results in Detail
The company's net interest income increased 3% to $3.7 billion in the second quarter, primarily owing to strong loan receivables growth.
However, other income was up by $6 million or 11% to $63 million, primarily owing to increased interchange revenues.
Loan receivables rose 5% year over year to $79 billion.
Deposits were $59 billion, up 12% from the year-ago quarter.
Purchase volume expanded 2% from the second quarter of 2017 to $34 billion.
Provision for loan loss decreased 3% year over year to $1.3 billion due to lower reserve build.
Total other expenses increased 7% to $975 million, primarily due to employee costs and other expenses.
Sales Platforms Update
Retail Card
Interest and fees on loans grew 3% year over year, primarily driven by loan receivables growth. Loan receivables grew 3%, partially offset by underwriting refinements.
Purchase volume inched up 1% while average active accounts remained flat.
Payment Solutions
Interest and fees on loans rose 6% year over year on the back of period-end loan receivables growth. Loan receivables grew 8%, led by home furnishings and automotive.
Purchase volume expanded 9% while average active account rose 4%.
CareCredit
Interest and fees on loans increased 6% year over year, attributable to period-end loan receivables growth of 8%. Loan receivables growth was enhanced by dental and veterinary.
While purchase volume registered 8% growth, average active account reported a 5% rise.
Financial Position
Total assets as of Jun 30, 2018 were $99.1 billion, up 8.8% year over year.
Total borrowings as of Jun 30, 2018 were $21 billion, up 4.9% year over year.
The company's balance sheet remained strong during the reported quarter with total liquidity of $28 billion or 28% of total assets.
Return on assets was 2.9% while return on equity was 19.4%.
Efficiency ratio was 31% compared with 30.1% in second-quarter 2017.
Share Repurchase and Dividend Update
In the second quarter, the company paid a quarterly common stock dividend of 21 cents per share and announced a plan to repurchase up to $2.2 billion of shares.
Zacks Rank
Synchrony Financial carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
Other Players' Releases From the Finance Sector
American Assets Trust, Inc. AAT is set to release second-quarter 2018 earnings on Jul 31 and the consensus mark for the same stands at 51 cents per share, representing an improvement from 49 cents in the year-ago period. The stock carries a Zacks Rank of 3.
CyrusOne Inc CONE is slated to release second-quarter 2018 earnings on Aug 1 and the Zacks Consensus Estimate for the same is pegged at 79 cents, reflecting a year-over-year rise of 2.6%. The stock is a Zacks #3 Ranked stock.
Apollo Investment Corporation AINV is set to report second-quarter 2018 earnings on Aug 8. The Zacks Consensus Estimate for the same is 15 cents per share, flat with the year-ago results. The stock is a #3 Ranked player.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Other Players' Releases From the Finance Sector American Assets Trust, Inc. AAT is set to release second-quarter 2018 earnings on Jul 31 and the consensus mark for the same stands at 51 cents per share, representing an improvement from 49 cents in the year-ago period. Click to get this free report Apollo Investment Corporation (AINV): Free Stock Analysis Report Synchrony Financial (SYF): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report CyrusOne Inc (CONE): Free Stock Analysis Report To read this article on Zacks.com click here. CyrusOne Inc CONE is slated to release second-quarter 2018 earnings on Aug 1 and the Zacks Consensus Estimate for the same is pegged at 79 cents, reflecting a year-over-year rise of 2.6%. | Click to get this free report Apollo Investment Corporation (AINV): Free Stock Analysis Report Synchrony Financial (SYF): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report CyrusOne Inc (CONE): Free Stock Analysis Report To read this article on Zacks.com click here. Other Players' Releases From the Finance Sector American Assets Trust, Inc. AAT is set to release second-quarter 2018 earnings on Jul 31 and the consensus mark for the same stands at 51 cents per share, representing an improvement from 49 cents in the year-ago period. Synchrony Financial' s SYF second-quarter 2018 earnings per share of 92 cents surpassed the Zacks Consensus Estimate of 82 cents by 12.2%, mainly driven by interchange revenues and loan receivables growth. | Click to get this free report Apollo Investment Corporation (AINV): Free Stock Analysis Report Synchrony Financial (SYF): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report CyrusOne Inc (CONE): Free Stock Analysis Report To read this article on Zacks.com click here. Other Players' Releases From the Finance Sector American Assets Trust, Inc. AAT is set to release second-quarter 2018 earnings on Jul 31 and the consensus mark for the same stands at 51 cents per share, representing an improvement from 49 cents in the year-ago period. Synchrony Financial' s SYF second-quarter 2018 earnings per share of 92 cents surpassed the Zacks Consensus Estimate of 82 cents by 12.2%, mainly driven by interchange revenues and loan receivables growth. | Other Players' Releases From the Finance Sector American Assets Trust, Inc. AAT is set to release second-quarter 2018 earnings on Jul 31 and the consensus mark for the same stands at 51 cents per share, representing an improvement from 49 cents in the year-ago period. Click to get this free report Apollo Investment Corporation (AINV): Free Stock Analysis Report Synchrony Financial (SYF): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report CyrusOne Inc (CONE): Free Stock Analysis Report To read this article on Zacks.com click here. Synchrony Financial' s SYF second-quarter 2018 earnings per share of 92 cents surpassed the Zacks Consensus Estimate of 82 cents by 12.2%, mainly driven by interchange revenues and loan receivables growth. |
21043.0 | 2018-07-26 00:00:00 UTC | Euronet's (EEFT) Earnings in Line, Revenues Beat Estimates | AAT | https://www.nasdaq.com/articles/euronets-eeft-earnings-in-line-revenues-beat-estimates-2018-07-26 | nan | nan | Euronet Worldwide, Inc. 's EEFT second-quarter 2018 earnings of $1.32 per share were in line with the Zacks Consensus Estimate. While the bottom line improved 21% year over year.
Euronet Worldwide, Inc. Price and EPS Surprise
Euronet Worldwide, Inc. Price and EPS Surprise | Euronet Worldwide, Inc. Quote
The company's reported net income declined 11.8% to 82 cents earnings per share in the quarter under review.
The company's total revenues were $622.2 million, up 16% from the year-ago quarter. The top line also surpassed the Zacks Consensus Estimate by 0.6%.
The second-quarter revenues reflect solid performances by the EFT Processing and Money Transfer segments, partially offset by the epay Segment due to the adoption of the Accounting Standards Codification Topic 606 (ASC 606).
Euronet's total transactions were 968 million, increased 8% year over year.
Adjusted operating income increased nearly 27% to $52.9 million.
Segment Results
EFT Processing Segment's total revenues grew 25% (18% on constant currency basis) year over year to $194.9 million on the back of increased transactions. Adjusted EBITDA amounted to $69.3 million, a rise of 26% (19% at constant currency) from the year-ago period. Operating income for the segment was $52.9 million, up 35% year over year.
The epay Segment's total revenues inched up 1% year over year to $166.5 million (down 3% on a constant currency basis). This decrease was because of lower transactions in the quarter under review. Adjusted EBITDA amounted to $18.2 million, a 4% increase from the year-earlier quarter's figure. This included a 2% decline on a constant currency basis. Operating income stand at $16.3 million, up 10% year over year.
The Money Transfer Segment's total revenues increased 21% (17% at cc) year over year to $217.1 million, backed by 18% increase in transactions. Adjusted EBITDA amounted to $40.7 million, a 26% improvement (20% increase on constant currency basis) from the prior-year quarter. Operating income for this segment totaled $32.7 million, up 31% year over year.
Corporate and other Segment reported an expense of $11.5 million for the quarter under review.
Financial Update
Total assets at the quarter end were $3.4 billion, up 8.5% from the level at year-end 2017.
Cash and cash equivalents soared 42% to $1.2 billion from the figure at year-end 2017.
The company's long-term debt decreased 8% to $372 million from the year-end count as of December 2017.
Zacks Rank
Euronet carries a Zacks Rank #4 (Sell).
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
Releases From the Finance Sector
EPR Properties EPR is set to release second-quarter 2018 earnings on Jul 30 and the consensus mark for the same stands at $1.86 per share, representing 44% increase from the year-ago quarter. The stock carries a Zacks Rank of 4 .
Moody's Corporation MCO is slated to release second-quarter 2018 earnings on Jul 27 and the Zacks Consensus Estimate for the same is pegged at $1.88, reflecting a year-over-year rise of 24.5%. The stock carries a Zacks Rank #3 (Hold).
American Assets Trust, Inc. AAT is set to release second-quarter 2018 earnings on Jul 31 and the consensus estimate for the same is 51 cents per share, indicating 4.1% growth from the year-ago quarter. The stock has a Zacks Rank of 3.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | American Assets Trust, Inc. AAT is set to release second-quarter 2018 earnings on Jul 31 and the consensus estimate for the same is 51 cents per share, indicating 4.1% growth from the year-ago quarter. Click to get this free report Moody's Corporation (MCO): Free Stock Analysis Report Euronet Worldwide, Inc. (EEFT): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report EPR Properties (EPR): Free Stock Analysis Report To read this article on Zacks.com click here. Adjusted EBITDA amounted to $40.7 million, a 26% improvement (20% increase on constant currency basis) from the prior-year quarter. | Click to get this free report Moody's Corporation (MCO): Free Stock Analysis Report Euronet Worldwide, Inc. (EEFT): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report EPR Properties (EPR): Free Stock Analysis Report To read this article on Zacks.com click here. American Assets Trust, Inc. AAT is set to release second-quarter 2018 earnings on Jul 31 and the consensus estimate for the same is 51 cents per share, indicating 4.1% growth from the year-ago quarter. Euronet Worldwide, Inc. Price and EPS Surprise Euronet Worldwide, Inc. Price and EPS Surprise | Euronet Worldwide, Inc. Quote The company's reported net income declined 11.8% to 82 cents earnings per share in the quarter under review. | Click to get this free report Moody's Corporation (MCO): Free Stock Analysis Report Euronet Worldwide, Inc. (EEFT): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report EPR Properties (EPR): Free Stock Analysis Report To read this article on Zacks.com click here. American Assets Trust, Inc. AAT is set to release second-quarter 2018 earnings on Jul 31 and the consensus estimate for the same is 51 cents per share, indicating 4.1% growth from the year-ago quarter. Segment Results EFT Processing Segment's total revenues grew 25% (18% on constant currency basis) year over year to $194.9 million on the back of increased transactions. | American Assets Trust, Inc. AAT is set to release second-quarter 2018 earnings on Jul 31 and the consensus estimate for the same is 51 cents per share, indicating 4.1% growth from the year-ago quarter. Click to get this free report Moody's Corporation (MCO): Free Stock Analysis Report Euronet Worldwide, Inc. (EEFT): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report EPR Properties (EPR): Free Stock Analysis Report To read this article on Zacks.com click here. The company's total revenues were $622.2 million, up 16% from the year-ago quarter. |
21044.0 | 2018-07-14 00:00:00 UTC | The 4 Best Biotech Stocks of 2018 (So Far) | AAT | https://www.nasdaq.com/articles/4-best-biotech-stocks-2018-so-far-2018-07-14 | nan | nan | It's been a banner year for early-stage biotech stocks and we're barely into the second half. The iShares Biotechnology Index has risen an impressive 8.9% this year, but the market for small, early-stage biotech stocks is even frothier than the industry tracking index suggests.
Here's why investors just can't get enough of these four risky drugmakers lately.
Data source: Yahoo! Finance.
1. Arrowhead Pharmaceuticals Inc.: Early comeback
This RNA-focused company hit a major setback less than two years ago that set the stage for a roaring comeback. Investors have been pushing up the stock this year in response to progress with a growing pipeline of early-stage drug candidates, two of which have already started human testing.
In May, Arrowhead began dosing hepatitis B patients with ARO-HBV, and investigators will probably present the results at a conference this September. More recently, the company presented data from a study with 44 healthy volunteers who tried different doses of its second clinical-stage candidate, ARO-AAT.
Arrowhead's lead candidate is intended to help people that produce a mutated form of alpha-1 antitrypsin (AAT), so investors were pleased to see clear AAT knockdowns among healthy patients.
If knocking down AAT translates into a survival benefit down the road, ARO-AAT could end up generating nine-figure annual sales for Arrowhead. The company has three more clinical trial applications planned for later this year, which could give the biotech plenty more chances to please investors in the quarters ahead.
2. Endocyte, Inc.: Gone radioactive
This stock has delivered some nuclear-powered returns this year with the help of its lead candidate Lu-PSMA-617. This radioactive prostate cancer drug blasts subatomic particles in the vicinity of tumors that secrete prostate-specific antigen (PSA) by binding to the antigen itself.
It still needs to succeed in an ongoing pivotal trial, but it looks like Lu-PSMA-617 can really make a difference for advanced-stage prostate cancer patients with tumors that have already spread. In fact, a group of before-and-after photos from eight prostate cancer patients treated with Endocyte's candidate was recently selected as Image of the Year by the Society of Nuclear Medicine and Molecular Imaging.
Endocyte started treating patients with Lu-PSMA-617 in a pivotal trial that will check for a survival benefit, which can take years. If the company can convince the FDA to approve the drug based on its tumor-fighting ability alone, though it would speed up the process and send the stock flying even higher.
3. ArQule, Inc.: Partnering up
This is another biotech making a comeback following a late-stage disaster. The company recently sold rights to develop and commercialize an experimental liver cancer treatment called derazantinib to Roivant Sciences, which will develop and possibly market the drug in China. The stock rose further following an even bigger tie-up with Basilea Pharmaceutic Ltd. , which will take the reins outside of China.
Derazantinib isn't the only candidate lifting this stock as it still has four wholly owned programs, including ARQ-531. Three different dosages of this blood cancer candidate reduced tumors by 29% or better for 11 blood cancer patients that had already failed other lines of treatment, plus it hasn't led to any serious side effects yet. That's unusual for a cancer therapy that also appears effective, and a repeat performance in a larger study would allow the stock to continue its climb.
4. Madrigal Pharmaceuticals Inc.: Lowering liver fat
Lowering liver fat during an early-stage clinical trial sent this biotech stock screaming higher this year. Nonalcoholic steatohepatitis (NASH) is the leading cause of liver cancer, but there aren't any treatments for an estimated 30 million Americans living with the disease right now.
A high dose of Madrigal Pharmaceuticals' lead candidate, MGL-3196 helped 75% of patients achieve a 30% or greater liver fat reduction at 12 weeks. Only 18% of those in the placebo group hit this endpoint, which makes Madrigal an awfully attractive acquisition target for deep-pocketed drugmakers looking to serve the enormous NASH population.
The mid-stage study with MGL-3196 is ongoing and will produce more data in a few months. If the responses seen at 12 weeks remain durable at the 36-week observation point, this stock could rise even further.
A lot more to lose now
Watching one biotech stock after another shoot up the way these four have can make you feel like you're missing out. While it's tempting to latch on to these stocks now in hopes their rockets still have some fuel to burn, that's a dangerous game.
None of these companies have a significant source of revenue yet, and it could be years before any have a chance. That means all of the gains they've produced this year could quickly reverse on the heels of unlucky clinical trial results, safety issues, or regulatory delays. While these stocks are certainly worth attention, diving in before you understand all the risks could lead to heavy losses.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | More recently, the company presented data from a study with 44 healthy volunteers who tried different doses of its second clinical-stage candidate, ARO-AAT. Arrowhead's lead candidate is intended to help people that produce a mutated form of alpha-1 antitrypsin (AAT), so investors were pleased to see clear AAT knockdowns among healthy patients. If knocking down AAT translates into a survival benefit down the road, ARO-AAT could end up generating nine-figure annual sales for Arrowhead. | More recently, the company presented data from a study with 44 healthy volunteers who tried different doses of its second clinical-stage candidate, ARO-AAT. Arrowhead's lead candidate is intended to help people that produce a mutated form of alpha-1 antitrypsin (AAT), so investors were pleased to see clear AAT knockdowns among healthy patients. If knocking down AAT translates into a survival benefit down the road, ARO-AAT could end up generating nine-figure annual sales for Arrowhead. | More recently, the company presented data from a study with 44 healthy volunteers who tried different doses of its second clinical-stage candidate, ARO-AAT. Arrowhead's lead candidate is intended to help people that produce a mutated form of alpha-1 antitrypsin (AAT), so investors were pleased to see clear AAT knockdowns among healthy patients. If knocking down AAT translates into a survival benefit down the road, ARO-AAT could end up generating nine-figure annual sales for Arrowhead. | More recently, the company presented data from a study with 44 healthy volunteers who tried different doses of its second clinical-stage candidate, ARO-AAT. Arrowhead's lead candidate is intended to help people that produce a mutated form of alpha-1 antitrypsin (AAT), so investors were pleased to see clear AAT knockdowns among healthy patients. If knocking down AAT translates into a survival benefit down the road, ARO-AAT could end up generating nine-figure annual sales for Arrowhead. |
21045.0 | 2018-06-12 00:00:00 UTC | American Assets Trust, Inc. (AAT) Ex-Dividend Date Scheduled for June 13, 2018 | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-ex-dividend-date-scheduled-june-13-2018-2018-06-12 | nan | nan | American Assets Trust, Inc. ( AAT ) will begin trading ex-dividend on June 13, 2018. A cash dividend payment of $0.27 per share is scheduled to be paid on June 28, 2018. Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. This marks the 3rd quarter that AAT has paid the same dividend. At the current stock price of $37.31, the dividend yield is 2.89%.
The previous trading day's last sale of AAT was $37.31, representing a -10.51% decrease from the 52 week high of $41.69 and a 21.85% increase over the 52 week low of $30.62.
AAT is a part of the Consumer Services sector, which includes companies such as American Tower Corporation (REIT) ( AMT ) and Simon Property Group, Inc. ( SPG ). AAT's current earnings per share, an indicator of a company's profitability, is $.45. Zacks Investment Research reports AAT's forecasted earnings growth in 2018 as 6.9%, compared to an industry average of -.6%.
For more information on the declaration, record and payment dates, visit the AAT Dividend History page. Our Dividend Calendar has the full list of stocks that have an ex-dividend today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AAT is a part of the Consumer Services sector, which includes companies such as American Tower Corporation (REIT) ( AMT ) and Simon Property Group, Inc. ( SPG ). Zacks Investment Research reports AAT's forecasted earnings growth in 2018 as 6.9%, compared to an industry average of -.6%. For more information on the declaration, record and payment dates, visit the AAT Dividend History page. | AAT's current earnings per share, an indicator of a company's profitability, is $.45. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. American Assets Trust, Inc. ( AAT ) will begin trading ex-dividend on June 13, 2018. | Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. This marks the 3rd quarter that AAT has paid the same dividend. For more information on the declaration, record and payment dates, visit the AAT Dividend History page. | Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. American Assets Trust, Inc. ( AAT ) will begin trading ex-dividend on June 13, 2018. This marks the 3rd quarter that AAT has paid the same dividend. |
21046.0 | 2018-06-11 00:00:00 UTC | Ex-Dividend Reminder: American Assets Trust, Medical Properties Trust and American International Group | AAT | https://www.nasdaq.com/articles/ex-dividend-reminder-american-assets-trust-medical-properties-trust-and-american | nan | nan | Looking at the universe of stocks we cover at Dividend Channel , on 6/13/18, American Assets Trust Inc (Symbol: AAT), Medical Properties Trust Inc (Symbol: MPW), and American International Group Inc (Symbol: AIG) will all trade ex-dividend for their respective upcoming dividends. American Assets Trust Inc will pay its quarterly dividend of $0.27 on 6/28/18, Medical Properties Trust Inc will pay its quarterly dividend of $0.25 on 7/12/18, and American International Group Inc will pay its quarterly dividend of $0.32 on 6/28/18. As a percentage of AAT's recent stock price of $37.24, this dividend works out to approximately 0.73%, so look for shares of American Assets Trust Inc to trade 0.73% lower - all else being equal - when AAT shares open for trading on 6/13/18. Similarly, investors should look for MPW to open 1.80% lower in price and for AIG to open 0.58% lower, all else being equal.
Below are dividend history charts for AAT, MPW, and AIG, showing historical dividends prior to the most recent ones declared.
American Assets Trust Inc (Symbol: AAT) :
Medical Properties Trust Inc (Symbol: MPW) :
American International Group Inc (Symbol: AIG) :
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 2.90% for American Assets Trust Inc, 7.18% for Medical Properties Trust Inc, and 2.32% for American International Group Inc.
In Monday trading, American Assets Trust Inc shares are currently trading flat, Medical Properties Trust Inc shares are down about 0.3%, and American International Group Inc shares are up about 0.1% on the day.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Looking at the universe of stocks we cover at Dividend Channel , on 6/13/18, American Assets Trust Inc (Symbol: AAT), Medical Properties Trust Inc (Symbol: MPW), and American International Group Inc (Symbol: AIG) will all trade ex-dividend for their respective upcoming dividends. As a percentage of AAT's recent stock price of $37.24, this dividend works out to approximately 0.73%, so look for shares of American Assets Trust Inc to trade 0.73% lower - all else being equal - when AAT shares open for trading on 6/13/18. Below are dividend history charts for AAT, MPW, and AIG, showing historical dividends prior to the most recent ones declared. | Looking at the universe of stocks we cover at Dividend Channel , on 6/13/18, American Assets Trust Inc (Symbol: AAT), Medical Properties Trust Inc (Symbol: MPW), and American International Group Inc (Symbol: AIG) will all trade ex-dividend for their respective upcoming dividends. American Assets Trust Inc (Symbol: AAT) : Medical Properties Trust Inc (Symbol: MPW) : American International Group Inc (Symbol: AIG) : In general, dividends are not always predictable, following the ups and downs of company profits over time. As a percentage of AAT's recent stock price of $37.24, this dividend works out to approximately 0.73%, so look for shares of American Assets Trust Inc to trade 0.73% lower - all else being equal - when AAT shares open for trading on 6/13/18. | Looking at the universe of stocks we cover at Dividend Channel , on 6/13/18, American Assets Trust Inc (Symbol: AAT), Medical Properties Trust Inc (Symbol: MPW), and American International Group Inc (Symbol: AIG) will all trade ex-dividend for their respective upcoming dividends. American Assets Trust Inc (Symbol: AAT) : Medical Properties Trust Inc (Symbol: MPW) : American International Group Inc (Symbol: AIG) : In general, dividends are not always predictable, following the ups and downs of company profits over time. As a percentage of AAT's recent stock price of $37.24, this dividend works out to approximately 0.73%, so look for shares of American Assets Trust Inc to trade 0.73% lower - all else being equal - when AAT shares open for trading on 6/13/18. | Looking at the universe of stocks we cover at Dividend Channel , on 6/13/18, American Assets Trust Inc (Symbol: AAT), Medical Properties Trust Inc (Symbol: MPW), and American International Group Inc (Symbol: AIG) will all trade ex-dividend for their respective upcoming dividends. As a percentage of AAT's recent stock price of $37.24, this dividend works out to approximately 0.73%, so look for shares of American Assets Trust Inc to trade 0.73% lower - all else being equal - when AAT shares open for trading on 6/13/18. Below are dividend history charts for AAT, MPW, and AIG, showing historical dividends prior to the most recent ones declared. |
21047.0 | 2018-06-01 00:00:00 UTC | American Assets Trust (AAT) Shares Cross Above 200 DMA | AAT | https://www.nasdaq.com/articles/american-assets-trust-aat-shares-cross-above-200-dma-2018-06-01 | nan | nan | In trading on Friday, shares of American Assets Trust Inc (Symbol: AAT) crossed above their 200 day moving average of $36.77, changing hands as high as $36.90 per share. American Assets Trust Inc shares are currently trading up about 1.5% on the day. The chart below shows the one year performance of AAT shares, versus its 200 day moving average:
Looking at the chart above, AAT's low point in its 52 week range is $30.62 per share, with $41.69 as the 52 week high point - that compares with a last trade of $36.84.
Click here to find out which 9 other dividend stocks recently crossed above their 200 day moving average »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Friday, shares of American Assets Trust Inc (Symbol: AAT) crossed above their 200 day moving average of $36.77, changing hands as high as $36.90 per share. The chart below shows the one year performance of AAT shares, versus its 200 day moving average: Looking at the chart above, AAT's low point in its 52 week range is $30.62 per share, with $41.69 as the 52 week high point - that compares with a last trade of $36.84. Click here to find out which 9 other dividend stocks recently crossed above their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Friday, shares of American Assets Trust Inc (Symbol: AAT) crossed above their 200 day moving average of $36.77, changing hands as high as $36.90 per share. The chart below shows the one year performance of AAT shares, versus its 200 day moving average: Looking at the chart above, AAT's low point in its 52 week range is $30.62 per share, with $41.69 as the 52 week high point - that compares with a last trade of $36.84. Click here to find out which 9 other dividend stocks recently crossed above their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Friday, shares of American Assets Trust Inc (Symbol: AAT) crossed above their 200 day moving average of $36.77, changing hands as high as $36.90 per share. The chart below shows the one year performance of AAT shares, versus its 200 day moving average: Looking at the chart above, AAT's low point in its 52 week range is $30.62 per share, with $41.69 as the 52 week high point - that compares with a last trade of $36.84. Click here to find out which 9 other dividend stocks recently crossed above their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Friday, shares of American Assets Trust Inc (Symbol: AAT) crossed above their 200 day moving average of $36.77, changing hands as high as $36.90 per share. The chart below shows the one year performance of AAT shares, versus its 200 day moving average: Looking at the chart above, AAT's low point in its 52 week range is $30.62 per share, with $41.69 as the 52 week high point - that compares with a last trade of $36.84. Click here to find out which 9 other dividend stocks recently crossed above their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
21048.0 | 2018-04-10 00:00:00 UTC | Bear of the Day: Kimco Realty (KIM) | AAT | https://www.nasdaq.com/articles/bear-day-kimco-realty-kim-2018-04-10 | nan | nan | Today's Bear of the Day lies at the epicenter of two strong trends which are bearish for the company. Those trends are interest rates on the rise and the death of the retail. While the bad news for retail may be overblown, there's no question that malls in America are going to have to adapt to get back to the levels of success they've seen in the past. Interest rates certainly will rise, putting pressure on REITs and other income-producing equities. Today's Bear of the Day is a REIT which operates malls.
Kimco Realty Corp.(KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America's largest publicly traded owners and operators of open-air shopping centers. As of December 31, 2017, the company owned interests in 492 U.S. shopping centers comprising 83 million square feet of leasable space primarily concentrated in the top major metropolitan markets. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for 60 years.
Kimco Realty Corporation Price and Consensus
Kimco Realty Corporation Price and Consensus | Kimco Realty Corporation Quote
The stock is a Zacks Rank #5 (Strong Sell) because of the bearish earnings estimate revisions of analysts. Over the last sixty days, eleven analysts have dropped their current year EPS estimates while eight have done so for next year's numbers. The current year consensus has dropped from $1.54 to $1.44 over the last ninety days while next year's consensus has come down from $1.60 to $1.49.
The stock has been under pressure since dipping below its 200-day moving average in October of last year with the price near $29. Since then shares have lost half of their value, coming all the way down to under $15.
The REIT industry is in the Bottom 6% of our Zacks Industry Rank. Most of the industry is a Zacks Rank #3 (Hold) including American Assets Trust (AAT) and Equinix (EQIX). The only Zacks Rank #2 (Buy) is Urstadt Biddle (UBA).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Most of the industry is a Zacks Rank #3 (Hold) including American Assets Trust (AAT) and Equinix (EQIX). Click to get this free report Urstadt Biddle Properties Inc. (UBA): Free Stock Analysis Report Kimco Realty Corporation (KIM): Free Stock Analysis Report Equinix, Inc. (EQIX): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. Kimco Realty Corp.(KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America's largest publicly traded owners and operators of open-air shopping centers. | Most of the industry is a Zacks Rank #3 (Hold) including American Assets Trust (AAT) and Equinix (EQIX). Click to get this free report Urstadt Biddle Properties Inc. (UBA): Free Stock Analysis Report Kimco Realty Corporation (KIM): Free Stock Analysis Report Equinix, Inc. (EQIX): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. Kimco Realty Corporation Price and Consensus Kimco Realty Corporation Price and Consensus | Kimco Realty Corporation Quote The stock is a Zacks Rank #5 (Strong Sell) because of the bearish earnings estimate revisions of analysts. | Click to get this free report Urstadt Biddle Properties Inc. (UBA): Free Stock Analysis Report Kimco Realty Corporation (KIM): Free Stock Analysis Report Equinix, Inc. (EQIX): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. Most of the industry is a Zacks Rank #3 (Hold) including American Assets Trust (AAT) and Equinix (EQIX). Kimco Realty Corporation Price and Consensus Kimco Realty Corporation Price and Consensus | Kimco Realty Corporation Quote The stock is a Zacks Rank #5 (Strong Sell) because of the bearish earnings estimate revisions of analysts. | Click to get this free report Urstadt Biddle Properties Inc. (UBA): Free Stock Analysis Report Kimco Realty Corporation (KIM): Free Stock Analysis Report Equinix, Inc. (EQIX): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. Most of the industry is a Zacks Rank #3 (Hold) including American Assets Trust (AAT) and Equinix (EQIX). The stock has been under pressure since dipping below its 200-day moving average in October of last year with the price near $29. |
21049.0 | 2018-03-27 00:00:00 UTC | Investing in These Stocks Now Could Make You a Millionaire Retiree | AAT | https://www.nasdaq.com/articles/investing-these-stocks-now-could-make-you-millionaire-retiree-2018-03-27 | nan | nan | What comes to mind when you picture yourself in retirement? For most people, making that vision a reality is going to take a lot of money. Social Security isn't going to be enough. Many will need well over $1 million in retirement to achieve their goals. But how can you stockpile that amount of money?
Over the long run, the best way to grow your money is by investing in stocks. But which stocks are good ones to buy? I'd put Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) , Iron Mountain (NYSE: IRM) , and Vertex Pharmaceuticals (NASDAQ: VRTX) high on the list. Here's why investing in these stocks now could make you a millionaire retiree.
Alphabet
I like Alphabet for several reasons, but the two most important are the company's moat and its multiple pathways for growth (what investors refer to as optionality). Alphabet's Google search engine and YouTube video-sharing website command dominating market shares that seems unlikely to diminish anytime soon. And it's from advertising revenue, in large part from Google and YouTube, that Alphabet makes most of its money . The bottom line is that the company enjoys a strong moat.
Alphabet should be able to continue to grow revenue and earnings from its core businesses. However, the company also has plenty of other avenues for growth. For example, Alphabet has expanded its hardware business by acquiring part of smartphone-maker HTC last year. The company has also moved aggressively into the cloud computing market, with CEO Sundar Pichai stating in February that Alphabet "is the fastest-growing major public cloud provider in the world."
My hunch is that the biggest growth story for Alphabet, though, will be in artificial intelligence (AI). The company's AI expertise should help it gain market share in the cloud computing arena. Alphabet's Waymo unit is a top leader in self-driving car technology. Alphabet is already using AI in impressive ways in healthcare applications. And, perhaps most importantly, the company is using AI to improve its search engine advertising algorithms, which should make its biggest business even more profitable.
Iron Mountain
With a name like Iron Mountain, you'd hope the company has a solid moat. And it does. Iron Mountain is the world's largest provider of records storage and information management services, with over 1,400 facilities containing 87.5 million square feet of storage space. The company has over 225,000 customers, including 95% of the Fortune 1000.
Customers tend to stay with Iron Mountain, partially because the company is arguably the best in the business, but also because it's such a hassle to transfer stored items to another facility. In recent years, the average annual volume reduction due to customers leaving Iron Mountain was just 2%.
Iron Mountain is a great stock for investors looking toward retirement for a couple of key reasons. One is the company's fantastic dividend yield of 7.43%. As a real estate investment trust (REIT) , Iron Mountain must return at least 90% of taxable income to shareholders as dividends. In addition, Iron Mountain has great growth prospects in the records storage business and by expanding into data center operations.
Vertex Pharmaceuticals
Vertex Pharmaceuticals currently enjoys what amounts to a monopoly in cystic fibrosis (CF). The biotech's three approved CF drugs, Kalydeco, Orkambi, and Symdeko, have no competition right now. It's not surprising that Vertex achieved profitability last year and saw its stock price more than double.
But what about the future? As great as Vertex's current CF drugs are, they still only help a fraction of CF patients. The biotech, however, is developing triple-drug combination therapies that should expand treatment to around 90% of CF patients. While competition could be on the way, Vertex's first-mover advantage is significant .
In addition, Vertex isn't limiting itself to CF. The biotech is targeting treatment of 10 indications, including sickle cell disease, pain, and alpha-1 antitrypsin (AAT) deficiency that each represents a multi-billion dollar-opportunity. Vertex doesn't have to be successful in all of these areas. Just developing effective therapies in one or two should mean a bright future for this rising star.
The fine print
So, can you simply buy Alphabet, Iron Mountain, and Vertex stocks, hold on for a while, then become a millionaire retiree? I think it's quite possible, but there are also risks. As solid as each of these companies looks now, there's always a chance that their businesses could be threatened by a disruptive rival.
On the other hand, becoming a millionaire retiree isn't as impossible as it might seem. Even if you started at age 50, maxing out investments in a 401(k) plan could give you $1 million by age 70 . All it would take to achieve this would be an average annual return of 7%. I think Alphabet, Iron Mountain, and Vertex Pharmaceuticals give you a pretty good shot at making this level of return or better.
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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Keith Speights owns shares of Alphabet (A shares). The Motley Fool owns shares of and recommends Alphabet (A shares) and Alphabet (C shares). The Motley Fool recommends Vertex Pharmaceuticals. The Motley Fool has a disclosure policy .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The biotech is targeting treatment of 10 indications, including sickle cell disease, pain, and alpha-1 antitrypsin (AAT) deficiency that each represents a multi-billion dollar-opportunity. Customers tend to stay with Iron Mountain, partially because the company is arguably the best in the business, but also because it's such a hassle to transfer stored items to another facility. In addition, Iron Mountain has great growth prospects in the records storage business and by expanding into data center operations. | The biotech is targeting treatment of 10 indications, including sickle cell disease, pain, and alpha-1 antitrypsin (AAT) deficiency that each represents a multi-billion dollar-opportunity. I'd put Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) , Iron Mountain (NYSE: IRM) , and Vertex Pharmaceuticals (NASDAQ: VRTX) high on the list. In addition, Iron Mountain has great growth prospects in the records storage business and by expanding into data center operations. | The biotech is targeting treatment of 10 indications, including sickle cell disease, pain, and alpha-1 antitrypsin (AAT) deficiency that each represents a multi-billion dollar-opportunity. I'd put Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) , Iron Mountain (NYSE: IRM) , and Vertex Pharmaceuticals (NASDAQ: VRTX) high on the list. The fine print So, can you simply buy Alphabet, Iron Mountain, and Vertex stocks, hold on for a while, then become a millionaire retiree? | The biotech is targeting treatment of 10 indications, including sickle cell disease, pain, and alpha-1 antitrypsin (AAT) deficiency that each represents a multi-billion dollar-opportunity. And it's from advertising revenue, in large part from Google and YouTube, that Alphabet makes most of its money . Iron Mountain With a name like Iron Mountain, you'd hope the company has a solid moat. |
21050.0 | 2018-03-15 00:00:00 UTC | 7 Things Vertex Pharmaceuticals' CEO Just Said That Will Probably Make You Want to Buy the Stock | AAT | https://www.nasdaq.com/articles/7-things-vertex-pharmaceuticals-ceo-just-said-will-probably-make-you-want-buy-stock-2018 | nan | nan | Vertex Pharmaceuticals (NASDAQ: VRTX) achieved something in 2017 that few stocks did: It more than doubled. At the beginning of this year, I picked Vertex as one of the top big biotech stocks to buy . That pick has looked good so far. Vertex is off to a great start in 2018, with a year-to-date gain of more than 15%.
But is it too late to buy this hot biotech stock now? I don't think so, especially after listening to Jeff Leiden, Vertex's CEO, speak on Wednesday at the Cowen healthcare conference. Here are seven things Leiden said that just might make you want to buy the stock.
1. Completing the journey in cystic fibrosis is only a matter of execution
Vertex enjoys a monopoly in the cystic fibrosis (CF) market with three drugs -- Kalydeco, Orkambi, and recently approved Symdeko. The company's goal over the next couple of years or so is to provide effective treatments for 90% of CF patients. Leiden used the phrase "complete the journey in CF" to describe this goal. And he said that it's "now a matter of execution and is no longer a matter of science, biology, or medicine."
Is that view overly confident? Not really. Vertex announced great results from phase 2 clinical studies of several triple-drug combinations in treating CF. The biotech has already initiated a couple of late-stage studies of one of those triple-drug combos and plans to start a late-stage study of another combo by mid-year.
Two of the components of the triple-drug combos are tezecaftor and ivacaftor. Kalydeco (ivacaftor) and Symdeko (tezecaftor/ivacaftor and ivacaftor) are on the market and have been proven to work in the real world. The earlier studies show pretty convincing evidence that the addition of Vertex's selected third components -- VX-659 and VX-445 -- were safe and effective in a clinical setting. What that means for investors is that the risks for the late-stage studies is lower than that of many clinical studies. That doesn't mean there's no risk of failure, but -- as Leiden said -- it primarily comes down to execution.
2. Vertex's first-mover advantage is huge
Vertex isn't the only drugmaker in the CF space. Galapagos (NASDAQ: GLPG) and AbbVie (NYSE: ABBV) are developing a triple-drug combo as well. However, Vertex has a clear head start over its rivals.
When asked about how big Vertex's competitive advantage might be if it is successful in launching a triple-drug combo by the end of 2018, Leiden mentioned three things. First, he said that Vertex already knows where all the CF patients are as a result of its previous efforts. Second, he pointed to the rapid adoption of Orkambi, a powerful new therapy. Third, he noted that the company encountered challenges getting patients in clinical trials to switch from Kalydeco to add tezecaftor.
Put Leiden's responses together, and you have a scenario where Vertex will be able to quickly line up CF patients once its triple-drug combos launch. But with CF patients resistant to switching from a therapy that works for them, a similar triple-drug combo from Galapagos and AbbVie could have a hard time gaining market traction following Vertex's launch.
3. Intellectual property protection is simple -- and solid
What about patents expiring? Leiden stated that Vertex's intellectual property (IP) is "pretty simple." The biotech's IP protection is also pretty solid.
With products that consist of multiple components, the product is protected through the last expiration of any of its component drugs. Leiden said this means Vertex's next-generation correctors for CF will enjoy IP protection through the 2030s.
4. Newer CF drugs should be more profitable
Vertex is generating profits from its current drugs, but its newer drugs should be even more profitable. Why? The company pays tiered royalties for Kalydeco, Orkambi, and Symdeko in the high single digits to low teens to Cystic Fibrosis Foundation Therapeutics Incorporated (CFFT). However, Leiden mentioned that Vertex renegotiated its agreement with CFFT for triple-drug combos. The company will pay royalties in the low- to mid-single digits on these new drugs.
5. It's only a question of when, not if, remaining reimbursement deals in Europe will be finalized
Vertex has already won approval for Orkambi in Europe. But actually being able to market a new drug in Europe requires negotiating reimbursement deals country by country. Vertex made significant progress last year with reimbursement deals in Ireland and Italy, but discussions with a couple of big countries -- France and the U.K. -- are still in progress.
Leiden said that he's confident that the deals will be finalized, but that it's just a question of timing. Vertex already has around 1,000 patients in France using Orkambi, although the biotech hasn't recognized any revenue yet. As for the U.K., Leiden said that the company hopes to secure a portfolio agreement that provides for reimbursement for any new CF drug, not just Orkambi. The bottom line is that Vertex should have a couple of significant markets open up in the not-too-distant future.
6. Only one or two pipeline programs need to be successful
What's in store for Vertex beyond treating CF? Leiden said that the company intends to develop and market transformative medicines for serious diseases that "smell and look a lot like CF." He specifically pointed to three opportunities -- sickle cell disease, pain, and alpha-1 antitrypsin (AAT) deficiency -- but stated the company has around 10 different indications that it was targeting in addition to CF.
Vertex is working with CRISPR Therapeutics to use the CRISPR-Cas9 gene-editing approach in treating sickle cell disease. Leiden said that he's "excited about sickle cell" and thinks there could potentially be a cure for the disease.
Here's the great thing about Vertex's pipeline outside of CF: Any program would be a multi-billion-dollar franchise by itself. Leiden stated that "all of them don't have to work, half of them don't have to work." All it takes for Vertex to generate tremendous growth is for one or two of its pipeline programs to be successful.
7. A nice problem to have
Leiden noted that Vertex now "has a nice problem of accumulating cash very rapidly." At the end of 2017, that nice problem translated to over $2 billion in cash, cash equivalents, and marketable securities.
Vertex plans to use its cash to supplement its internal innovation efforts. However, Leiden said the company would also look to make business development deals. The biotech is most likely, according to Leiden, to target "something that really moves the needle" in CF, new technology platforms (especially gene therapy), and deals to supplement its early-stage pipeline.
Any real problems?
Are there any real problems aside from the fake one of making a lot of cash? Probably the least attractive thing about Vertex is that the stock is expensive. Shares currently trade at 38 times expected earnings.
However, remember that those expected earnings only look out to the year ahead. Vertex's triple-drug combos won't hit the market until after then (assuming all goes well). Its pipeline efforts beyond CF are also further in the future. Any business development deals probably wouldn't generate a return until years from now as well.
Jeff Leiden is definitely looking at the long term. That's what you want from a CEO. And that's what you want to do as an investor. Over the long run, I think this biotech stock will continue to be a big winner.
10 stocks we like better than Vertex Pharmaceuticals
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Keith Speights owns shares of AbbVie. The Motley Fool recommends Vertex Pharmaceuticals. The Motley Fool has a disclosure policy .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | He specifically pointed to three opportunities -- sickle cell disease, pain, and alpha-1 antitrypsin (AAT) deficiency -- but stated the company has around 10 different indications that it was targeting in addition to CF. But with CF patients resistant to switching from a therapy that works for them, a similar triple-drug combo from Galapagos and AbbVie could have a hard time gaining market traction following Vertex's launch. The company pays tiered royalties for Kalydeco, Orkambi, and Symdeko in the high single digits to low teens to Cystic Fibrosis Foundation Therapeutics Incorporated (CFFT). | He specifically pointed to three opportunities -- sickle cell disease, pain, and alpha-1 antitrypsin (AAT) deficiency -- but stated the company has around 10 different indications that it was targeting in addition to CF. Completing the journey in cystic fibrosis is only a matter of execution Vertex enjoys a monopoly in the cystic fibrosis (CF) market with three drugs -- Kalydeco, Orkambi, and recently approved Symdeko. Leiden stated that Vertex's intellectual property (IP) is "pretty simple." | He specifically pointed to three opportunities -- sickle cell disease, pain, and alpha-1 antitrypsin (AAT) deficiency -- but stated the company has around 10 different indications that it was targeting in addition to CF. Vertex's first-mover advantage is huge Vertex isn't the only drugmaker in the CF space. Put Leiden's responses together, and you have a scenario where Vertex will be able to quickly line up CF patients once its triple-drug combos launch. | He specifically pointed to three opportunities -- sickle cell disease, pain, and alpha-1 antitrypsin (AAT) deficiency -- but stated the company has around 10 different indications that it was targeting in addition to CF. At the beginning of this year, I picked Vertex as one of the top big biotech stocks to buy . When asked about how big Vertex's competitive advantage might be if it is successful in launching a triple-drug combo by the end of 2018, Leiden mentioned three things. |
21051.0 | 2018-03-12 00:00:00 UTC | Ex-Dividend Reminder: Banc Of California, Intercontinental Exchange and American Assets Trust | AAT | https://www.nasdaq.com/articles/ex-dividend-reminder-banc-california-intercontinental-exchange-and-american-assets-trust | nan | nan | Looking at the universe of stocks we cover at Dividend Channel , on 3/14/18, Banc Of California Inc (Symbol: BANC), Intercontinental Exchange Inc (Symbol: ICE), and American Assets Trust Inc (Symbol: AAT) will all trade ex-dividend for their respective upcoming dividends. Banc Of California Inc will pay its quarterly dividend of $0.13 on 4/2/18, Intercontinental Exchange Inc will pay its quarterly dividend of $0.24 on 3/29/18, and American Assets Trust Inc will pay its quarterly dividend of $0.27 on 3/29/18. As a percentage of BANC's recent stock price of $20.60, this dividend works out to approximately 0.63%, so look for shares of Banc Of California Inc to trade 0.63% lower - all else being equal - when BANC shares open for trading on 3/14/18. Similarly, investors should look for ICE to open 0.32% lower in price and for AAT to open 0.84% lower, all else being equal.
Below are dividend history charts for BANC, ICE, and AAT, showing historical dividends prior to the most recent ones declared.
Banc Of California Inc (Symbol: BANC) :
Intercontinental Exchange Inc (Symbol: ICE) :
American Assets Trust Inc (Symbol: AAT) :
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 2.52% for Banc Of California Inc, 1.26% for Intercontinental Exchange Inc, and 3.34% for American Assets Trust Inc.
In Monday trading, Banc Of California Inc shares are currently up about 0.2%, Intercontinental Exchange Inc shares are up about 0.4%, and American Assets Trust Inc shares are up about 0.5% on the day.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Looking at the universe of stocks we cover at Dividend Channel , on 3/14/18, Banc Of California Inc (Symbol: BANC), Intercontinental Exchange Inc (Symbol: ICE), and American Assets Trust Inc (Symbol: AAT) will all trade ex-dividend for their respective upcoming dividends. Similarly, investors should look for ICE to open 0.32% lower in price and for AAT to open 0.84% lower, all else being equal. Below are dividend history charts for BANC, ICE, and AAT, showing historical dividends prior to the most recent ones declared. | Looking at the universe of stocks we cover at Dividend Channel , on 3/14/18, Banc Of California Inc (Symbol: BANC), Intercontinental Exchange Inc (Symbol: ICE), and American Assets Trust Inc (Symbol: AAT) will all trade ex-dividend for their respective upcoming dividends. Banc Of California Inc (Symbol: BANC) : Intercontinental Exchange Inc (Symbol: ICE) : American Assets Trust Inc (Symbol: AAT) : In general, dividends are not always predictable, following the ups and downs of company profits over time. Similarly, investors should look for ICE to open 0.32% lower in price and for AAT to open 0.84% lower, all else being equal. | Looking at the universe of stocks we cover at Dividend Channel , on 3/14/18, Banc Of California Inc (Symbol: BANC), Intercontinental Exchange Inc (Symbol: ICE), and American Assets Trust Inc (Symbol: AAT) will all trade ex-dividend for their respective upcoming dividends. Banc Of California Inc (Symbol: BANC) : Intercontinental Exchange Inc (Symbol: ICE) : American Assets Trust Inc (Symbol: AAT) : In general, dividends are not always predictable, following the ups and downs of company profits over time. Similarly, investors should look for ICE to open 0.32% lower in price and for AAT to open 0.84% lower, all else being equal. | Looking at the universe of stocks we cover at Dividend Channel , on 3/14/18, Banc Of California Inc (Symbol: BANC), Intercontinental Exchange Inc (Symbol: ICE), and American Assets Trust Inc (Symbol: AAT) will all trade ex-dividend for their respective upcoming dividends. Similarly, investors should look for ICE to open 0.32% lower in price and for AAT to open 0.84% lower, all else being equal. Below are dividend history charts for BANC, ICE, and AAT, showing historical dividends prior to the most recent ones declared. |
21052.0 | 2018-02-21 00:00:00 UTC | American Assets Trust Becomes Oversold (AAT) | AAT | https://www.nasdaq.com/articles/american-assets-trust-becomes-oversold-aat-2018-02-21 | nan | nan | Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
In trading on Wednesday, shares of American Assets Trust Inc (Symbol: AAT) entered into oversold territory, hitting an RSI reading of 29.9, after changing hands as low as $31.93 per share. By comparison, the current RSI reading of the S&P 500 ETF ( SPY ) is 49.7. A bullish investor could look at AAT's 29.9 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of AAT shares:
Looking at the chart above, AAT's low point in its 52 week range is $30.93 per share, with $44.81 as the 52 week high point - that compares with a last trade of $31.89.
Find out what 9 other oversold stocks you need to know about »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Wednesday, shares of American Assets Trust Inc (Symbol: AAT) entered into oversold territory, hitting an RSI reading of 29.9, after changing hands as low as $31.93 per share. A bullish investor could look at AAT's 29.9 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of AAT shares: Looking at the chart above, AAT's low point in its 52 week range is $30.93 per share, with $44.81 as the 52 week high point - that compares with a last trade of $31.89. | The chart below shows the one year performance of AAT shares: Looking at the chart above, AAT's low point in its 52 week range is $30.93 per share, with $44.81 as the 52 week high point - that compares with a last trade of $31.89. In trading on Wednesday, shares of American Assets Trust Inc (Symbol: AAT) entered into oversold territory, hitting an RSI reading of 29.9, after changing hands as low as $31.93 per share. A bullish investor could look at AAT's 29.9 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. | In trading on Wednesday, shares of American Assets Trust Inc (Symbol: AAT) entered into oversold territory, hitting an RSI reading of 29.9, after changing hands as low as $31.93 per share. The chart below shows the one year performance of AAT shares: Looking at the chart above, AAT's low point in its 52 week range is $30.93 per share, with $44.81 as the 52 week high point - that compares with a last trade of $31.89. A bullish investor could look at AAT's 29.9 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. | In trading on Wednesday, shares of American Assets Trust Inc (Symbol: AAT) entered into oversold territory, hitting an RSI reading of 29.9, after changing hands as low as $31.93 per share. A bullish investor could look at AAT's 29.9 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of AAT shares: Looking at the chart above, AAT's low point in its 52 week range is $30.93 per share, with $44.81 as the 52 week high point - that compares with a last trade of $31.89. |
21053.0 | 2018-02-14 00:00:00 UTC | New Strong Sell Stocks for February 14th | AAT | https://www.nasdaq.com/articles/new-strong-sell-stocks-for-february-14th-2018-02-14 | nan | nan | Here are 5 stocks added to the Zacks Rank #5 (Strong Sell) List today:
iRobot CorporationIRBT is the designer and seller of robots. The Zacks Consensus Estimate for its current year earnings has been revised 4.4% downward over the last 30 days.
Tahoe Resources Inc.TAHO is the explorer and operator of mines in the Americas. The Zacks Consensus Estimate for its current year earnings has been revised 3.2% downward over the last 30 days.
Park Electrochemical Corp.PKE is the manufacturer and seller of digital and radio frequency printed circuit products. The Zacks Consensus Estimate for its current year earnings has been revised 31.5% downward over the last 60 days.
Almost Family, Inc.AFAM is a provider of home healthcare services. The Zacks Consensus Estimate for its current year earnings has been revised 0.9% downward over the last 60 days.
American Assets Trust, Inc.AAT is the owner and operator of a real estate investment trust. The Zacks Consensus Estimate for its current year earnings has been revised 0.5% downward over the last 60 days.
View the entire Zacks Rank #5 List .
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | American Assets Trust, Inc.AAT is the owner and operator of a real estate investment trust. Click to get this free report Park Electrochemical Corporation (PKE): Free Stock Analysis Report iRobot Corporation (IRBT): Free Stock Analysis Report Almost Family Inc (AFAM): Free Stock Analysis Report Tahoe Resources, Inc. (TAHO): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. Here are 5 stocks added to the Zacks Rank #5 (Strong Sell) List today: iRobot CorporationIRBT is the designer and seller of robots. | Click to get this free report Park Electrochemical Corporation (PKE): Free Stock Analysis Report iRobot Corporation (IRBT): Free Stock Analysis Report Almost Family Inc (AFAM): Free Stock Analysis Report Tahoe Resources, Inc. (TAHO): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. American Assets Trust, Inc.AAT is the owner and operator of a real estate investment trust. The Zacks Consensus Estimate for its current year earnings has been revised 4.4% downward over the last 30 days. | Click to get this free report Park Electrochemical Corporation (PKE): Free Stock Analysis Report iRobot Corporation (IRBT): Free Stock Analysis Report Almost Family Inc (AFAM): Free Stock Analysis Report Tahoe Resources, Inc. (TAHO): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. American Assets Trust, Inc.AAT is the owner and operator of a real estate investment trust. The Zacks Consensus Estimate for its current year earnings has been revised 4.4% downward over the last 30 days. | American Assets Trust, Inc.AAT is the owner and operator of a real estate investment trust. Click to get this free report Park Electrochemical Corporation (PKE): Free Stock Analysis Report iRobot Corporation (IRBT): Free Stock Analysis Report Almost Family Inc (AFAM): Free Stock Analysis Report Tahoe Resources, Inc. (TAHO): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. View the entire Zacks Rank #5 List . |
21054.0 | 2018-01-29 00:00:00 UTC | Bear of the Day: American Assets Trust (AAT) | AAT | https://www.nasdaq.com/articles/bear-day-american-assets-trust-aat-2018-01-29 | nan | nan | Headquartered in San Diego, California, American Assets Trust ( AAT ) is a full service, vertically integrated and self-administered Real Estate Investment Trust (REIT). It acquires, improves, develops and manages premier retail, office and residential properties throughout the US.
The company has the following segments -- Retail, Office, Multifamily and Mixed-Use.
Lackluster Results
The REIT reported Q3 results that were below our estimates. Adjusted Funds from Operations were $0.52 per share, below the Zacks Consensus Estimate of $0.54.
The company also downgraded its guidance for FY 2017 FFO per diluted share to $1.99 to $2.01 per share from the prior guidance range of $2.00 to $2.06 per share.
Falling Estimates
Analysts have been cutting their estimates after weak results. The Zacks Consensus Estimate for the current year has fallen to $2.06 per share from $2.22 before the results.
The company has missed Zacks Consensus Estimates in all of last four quarters, with an average negative surprise of 3.5%.
The Bottom Line
Interest rates are rising this year as many fear that tax cuts may lead to overheating of the economy and force the Fed to be more aggressive in raising rates. While the broader market and many cyclical sectors had a very strong start to the year, rate-sensitive sectors -- Utilities and Real Estate -- are in the red this year.
The stock is down more than 17% in the past one year. In addition of Zacks Rank #5 (Strong Sell), the industry rank of 248 out of 265 (bottom 6%) also suggests underperformance in the short term.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Headquartered in San Diego, California, American Assets Trust ( AAT ) is a full service, vertically integrated and self-administered Real Estate Investment Trust (REIT). Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. It acquires, improves, develops and manages premier retail, office and residential properties throughout the US. | Headquartered in San Diego, California, American Assets Trust ( AAT ) is a full service, vertically integrated and self-administered Real Estate Investment Trust (REIT). Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. Headquartered in San Diego, California, American Assets Trust ( AAT ) is a full service, vertically integrated and self-administered Real Estate Investment Trust (REIT). The Zacks Consensus Estimate for the current year has fallen to $2.06 per share from $2.22 before the results. | Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. Headquartered in San Diego, California, American Assets Trust ( AAT ) is a full service, vertically integrated and self-administered Real Estate Investment Trust (REIT). The Zacks Consensus Estimate for the current year has fallen to $2.06 per share from $2.22 before the results. |
21055.0 | 2018-01-16 00:00:00 UTC | Zacks Industry Outlook Highlights: American Assets Trust, Corporate Office Properties Trust, Seritage Growth Properties and Xenia Hotels & Resorts | AAT | https://www.nasdaq.com/articles/zacks-industry-outlook-highlights%3A-american-assets-trust-corporate-office-properties-trust | nan | nan | For Immediate Release
Chicago, IL - Jan 16, 2018 - Today, Zacks Equity Research discusses the Industry: REITs, Part 3, including American Assets Trust, Inc. AAT , Corporate Office Properties TrustCOPT , Seritage Growth PropertiesSRG and Xenia Hotels & Resorts, Inc.XHR .
Industry: REITs, Part 3
Link: https://www.zacks.com/commentary/145114/heres-why-you-should-avoid-betting-on-reits-for-now
In the latest FOMC meeting, the benchmark interest rate was hiked by a quarter point and three more rate hikes were flagged for the current year. So obviously, betting on REIT stocks could be risky in 2018.
In fact, this remains the biggest near-term challenge as the use of leverage for REIT business makes the returns from this industry susceptible to interest rate movements. Particularly, a rise in the interest rate affects the present value of future cash flows. Therefore, asset valuation, including bond coupons and stock dividends, experiences a decline. Also, a number of asset categories are experiencing softness in fundamentals, which limits the scope of growing future cash flows from the properties of the corresponding REITs.
And apart from the rising interest-rate environment and an aging real estate cycle, the skinny consensus growth rate forecast for funds from operations (FFO) of REITs this year and the next, compared with that of the S&P 500 constituents, is anticipated to put the industry at a comparative disadvantage to the broader market.
On one hand, there is limited scope of growth for a number of asset categories of REITs. On the other hand, higher corporate earnings and the recent tax overhaul with lower corporate taxes are likely to boost earnings higher and help the broader market to prosper. Amid all this and along with investors' increased risk appetite, flow of capital into the defensive REIT industry is likely to slow down in 2018 from the lofty levels experienced last year.
Fundamental Weakness
Retail REIT
Retail REITs continued to bear the brunt as mall traffic continues to suffer amid a rapid shift in customers' shopping preference through the online channel, resulting in an increasing number of retailers jumping on the dot com bandwagon. These have made retailers reconsider their footprint and eventually opt for store closures in recent years while others unable to cope with competition have been filing bankruptcies.
Such an environment has led to tenants demanding substantial lease concessions but mall landlords are finding these unjustified. In addition, when substantial store closures happen in the middle of the lease term, not only are mall landlords hurt, but tenants occupying space in that mall are equally affected because their shop visits depend on the mix of specific types of retailers.
However, retail REITs are fighting back and transforming their traditional retail hubs into entertainment destinations and lifestyle resorts in an attempt to lure customers. In fact, changing consumer preferences and omnichannel retailing are reshaping the retail real estate environment and retail REITs are adopting the latest technologies to offer attractive services to their tenants and mall visitors. Nevertheless, the implementation of such measures requires a decent upfront cost and is hence likely to limit growth in the profit margins of retail REITs in the near term.
Residential REIT
The performance of residential REITs has already been affected over the last few quarters because of elevated supply. Although delays resulting from labor shortage and escalating costs have pushed the peak season, the stressed environment is anticipated to continue in the near term and likely to curb residential landlords' ability to command more rents and affect concession levels. Further, with some of the residential REITs' development deliveries running behind schedule amid delays in construction activities, lease-up net operating income may be affected.
Office REIT
Improving economy and a healthy job market environment are expected to drive growth in the office real estate market in 2018. But the pace of such growth is anticipated to be modest with increased supply of office space that has been curbing the pricing power of landlords and resulting in elevated concession levels.
Healthcare REIT
Elevated new supply in the market is anticipated to continue in the upcoming quarters, thereby resulting in persistent softness in seniors housing fundamentals. In addition, healthcare providers are opting for cost containment, less-expensive delivery settings and new technologies. Also, demand for medical office buildings and urgent-care facilities is growing. But amid the implementation healthcare reforms, healthcare REITs have been distancing themselves from the skilled nursing facility (SNF) business.
In fact, while seniors housing, medical-office buildings and hospitals have been able to realize solid revenue growth in recent years, SNFs are becoming more susceptible to top-line pressure due to the gradual shift in the medical billing procedure that stresses more on the value of care provided rather than the volume of services offered.
Rate Hike Issues
Admittedly, rising rates will adversely impact the debt-dependent REITs. However, the pace and magnitude of rate hikes, and the capacity of REITs to absorb those increases will significantly shape the industry's outlook. So REITs with lower pricing power and longer lease durations have less chances of beating the rate hike blues efficiently.
Also, volatility in rates affect the performance of mortgage REITs, or mREITs, which offer real estate financing through the purchase or origination of mortgages and mortgage-backed securities. These REITs fund their investments with equity and debt capital and earn profits from the spread between interest income on mortgage assets and their funding costs.
Bottom Line
Therefore, prior to calling the shots, investors should satisfy themselves by dispassionately absorbing both sides of the argument.
Check out our latest REIT Industry Outlook here for more on the current state of affairs in this market from an earnings perspective.
REITs to Avoid
Specific REITs that we don't like are American Assets Trust, Inc., Corporate Office Properties Trust, Seritage Growth Properties and Xenia Hotels & Resorts, Inc.
San Diego, CA-based American Assets Trust is a REIT engaged in acquisition, improvement, development and management of retail, office and residential properties throughout the United States. It has a Zacks Rank #5 (Strong Sell). The stock has seen the Zacks Consensus Estimate for 2017 and 2018 being revised southward over the past month.
Corporate Office Properties Trust, headquartered in Columbia, MD, is engaged in ownership, management, leasing, development and selective acquisition of high quality office and data center properties. It has a Zacks Rank of 5. The stock has seen the Zacks Consensus Estimate for 2018 being revised downward in a month's time, reflecting the bearish sentiment of analysts on this stock.
New York-based Seritage Growth Properties is a retail REIT having wholly-owned properties and joint venture assets aggregating around 40 million square feet of space across 49. It has a Zacks Rank of 5. Notably, the Zacks Consensus Estimates for 2017 and 2018 have experienced downward revisions of 12.4% and 9.1%, respectively, over the past two months.
Xenia Hotels & Resorts, Inc., based in Orlando, FL, is a REIT that makes investments mainly in premium full service and lifestyle hotels. The company targets the top 25 U.S. lodging markets and key leisure destinations in the United States. It has a Zacks Rank of 5. Xenia Hotels & Resorts' long-term expected growth rate of 5% is below the industry's 6.2% growth rate. Moreover, the Zacks Consensus Estimates for 2017 and 2018 have experienced downward revisions over the past two months.
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American Assets Trust, Inc. (AAT): Free Stock Analysis Report
Seritage Growth Properties (SRG): Free Stock Analysis Report
Xenia Hotels & Resorts, Inc. (XHR): Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For Immediate Release Chicago, IL - Jan 16, 2018 - Today, Zacks Equity Research discusses the Industry: REITs, Part 3, including American Assets Trust, Inc. AAT , Corporate Office Properties TrustCOPT , Seritage Growth PropertiesSRG and Xenia Hotels & Resorts, Inc.XHR . Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Seritage Growth Properties (SRG): Free Stock Analysis Report Xenia Hotels & Resorts, Inc. (XHR): Free Stock Analysis Report To read this article on Zacks.com click here. Although delays resulting from labor shortage and escalating costs have pushed the peak season, the stressed environment is anticipated to continue in the near term and likely to curb residential landlords' ability to command more rents and affect concession levels. | For Immediate Release Chicago, IL - Jan 16, 2018 - Today, Zacks Equity Research discusses the Industry: REITs, Part 3, including American Assets Trust, Inc. AAT , Corporate Office Properties TrustCOPT , Seritage Growth PropertiesSRG and Xenia Hotels & Resorts, Inc.XHR . Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Seritage Growth Properties (SRG): Free Stock Analysis Report Xenia Hotels & Resorts, Inc. (XHR): Free Stock Analysis Report To read this article on Zacks.com click here. REITs to Avoid Specific REITs that we don't like are American Assets Trust, Inc., Corporate Office Properties Trust, Seritage Growth Properties and Xenia Hotels & Resorts, Inc. San Diego, CA-based American Assets Trust is a REIT engaged in acquisition, improvement, development and management of retail, office and residential properties throughout the United States. | For Immediate Release Chicago, IL - Jan 16, 2018 - Today, Zacks Equity Research discusses the Industry: REITs, Part 3, including American Assets Trust, Inc. AAT , Corporate Office Properties TrustCOPT , Seritage Growth PropertiesSRG and Xenia Hotels & Resorts, Inc.XHR . Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Seritage Growth Properties (SRG): Free Stock Analysis Report Xenia Hotels & Resorts, Inc. (XHR): Free Stock Analysis Report To read this article on Zacks.com click here. REITs to Avoid Specific REITs that we don't like are American Assets Trust, Inc., Corporate Office Properties Trust, Seritage Growth Properties and Xenia Hotels & Resorts, Inc. San Diego, CA-based American Assets Trust is a REIT engaged in acquisition, improvement, development and management of retail, office and residential properties throughout the United States. | For Immediate Release Chicago, IL - Jan 16, 2018 - Today, Zacks Equity Research discusses the Industry: REITs, Part 3, including American Assets Trust, Inc. AAT , Corporate Office Properties TrustCOPT , Seritage Growth PropertiesSRG and Xenia Hotels & Resorts, Inc.XHR . Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Seritage Growth Properties (SRG): Free Stock Analysis Report Xenia Hotels & Resorts, Inc. (XHR): Free Stock Analysis Report To read this article on Zacks.com click here. Xenia Hotels & Resorts' long-term expected growth rate of 5% is below the industry's 6.2% growth rate. |
21056.0 | 2018-01-15 00:00:00 UTC | Here???s Why You Should Avoid Betting on REITs for Now | AAT | https://www.nasdaq.com/articles/heres-why-you-should-avoid-betting-on-reits-for-now-2018-01-15 | nan | nan | In the latest FOMC meeting, the benchmark interest rate was hiked by a quarter point and three more rate hikes were flagged for the current year. So obviously, betting on REIT stocks could be risky in 2018.
In fact, this remains the biggest near-term challenge as the use of leverage for REIT business makes the returns from this industry susceptible to interest rate movements. Particularly, a rise in the interest rate affects the present value of future cash flows. Therefore, asset valuation, including bond coupons and stock dividends, experiences a decline. Also, a number of asset categories are experiencing softness in fundamentals, which limits the scope of growing future cash flows from the properties of the corresponding REITs.
And apart from the rising interest-rate environment and an aging real estate cycle, the skinny consensus growth rate forecast for funds from operations (FFO) of REITs this year and the next, compared with that of the S&P 500 constituents, is anticipated to put the industry at a comparative disadvantage to the broader market.
On one hand, there is limited scope of growth for a number of asset categories of REITs. On the other hand, higher corporate earnings and the recent tax overhaul with lower corporate taxes are likely to boost earnings higher and help the broader market to prosper. Amid all this and along with investors' increased risk appetite, flow of capital into the defensive REIT industry is likely to slow down in 2018 from the lofty levels experienced last year.
Fundamental Weakness
Retail REIT
Retail REITs continued to bear the brunt as mall traffic continues to suffer amid a rapid shift in customers' shopping preference through the online channel, resulting in an increasing number of retailers jumping on the dot com bandwagon. These have made retailers reconsider their footprint and eventually opt for store closures in recent years while others unable to cope with competition have been filing bankruptcies.
Such an environment has led to tenants demanding substantial lease concessions but mall landlords are finding these unjustified. In addition, when substantial store closures happen in the middle of the lease term, not only are mall landlords hurt, but tenants occupying space in that mall are equally affected because their shop visits depend on the mix of specific types of retailers.
However, retail REITs are fighting back and transforming their traditional retail hubs into entertainment destinations and lifestyle resorts in an attempt to lure customers. In fact, changing consumer preferences and omnichannel retailing are reshaping the retail real estate environment and retail REITs are adopting the latest technologies to offer attractive services to their tenants and mall visitors. Nevertheless, the implementation of such measures requires a decent upfront cost and is hence likely to limit growth in the profit margins of retail REITs in the near term.
Residential REIT
The performance of residential REITs has already been affected over the last few quarters because of elevated supply. Although delays resulting from labor shortage and escalating costs have pushed the peak season, the stressed environment is anticipated to continue in the near term and likely to curb residential landlords' ability to command more rents and affect concession levels. Further, with some of the residential REITs' development deliveries running behind schedule amid delays in construction activities, lease-up net operating income may be affected.
Office REIT
Improving economy and a healthy job market environment are expected to drive growth in the office real estate market in 2018. But the pace of such growth is anticipated to be modest with increased supply of office space that has been curbing the pricing power of landlords and resulting in elevated concession levels.
Healthcare REIT
Elevated new supply in the market is anticipated to continue in the upcoming quarters, thereby resulting in persistent softness in seniors housing fundamentals. In addition, healthcare providers are opting for cost containment, less-expensive delivery settings and new technologies. Also, demand for medical office buildings and urgent-care facilities is growing. But amid the implementation healthcare reforms, healthcare REITs have been distancing themselves from the skilled nursing facility (SNF) business.
In fact, while seniors housing, medical-office buildings and hospitals have been able to realize solid revenue growth in recent years, SNFs are becoming more susceptible to top-line pressure due to the gradual shift in the medical billing procedure that stresses more on the value of care provided rather than the volume of services offered.
Rate Hike Issues
Admittedly, rising rates will adversely impact the debt-dependent REITs. However, the pace and magnitude of rate hikes, and the capacity of REITs to absorb those increases will significantly shape the industry's outlook. So REITs with lower pricing power and longer lease durations have less chances of beating the rate hike blues efficiently.
Also, volatility in rates affect the performance of mortgage REITs, or mREITs, which offer real estate financing through the purchase or origination of mortgages and mortgage-backed securities. These REITs fund their investments with equity and debt capital and earn profits from the spread between interest income on mortgage assets and their funding costs.
Bottom Line
Therefore, prior to calling the shots, investors should satisfy themselves by dispassionately absorbing both sides of the argument.
Check out our latest REIT Industry Outlook here for more on the current state of affairs in this market from an earnings perspective.
REITs to Avoid
Specific REITs that we don't like are American Assets Trust, Inc. (AAT), Corporate Office Properties Trust (COPT), Seritage Growth Properties (SRG) and Xenia Hotels & Resorts, Inc. (XHR).
San Diego, CA-based American Assets Trust is a REIT engaged in acquisition, improvement, development and management of retail, office and residential properties throughout the United States. It has a Zacks Rank #5 (Strong Sell). The stock has seen the Zacks Consensus Estimate for 2017 and 2018 being revised southward over the past month.
Corporate Office Properties Trust, headquartered in Columbia, MD, is engaged in ownership, management, leasing, development and selective acquisition of high quality office and data center properties. It has a Zacks Rank of 5. The stock has seen the Zacks Consensus Estimate for 2018 being revised downward in a month's time, reflecting the bearish sentiment of analysts on this stock.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
New York-based Seritage Growth Properties is a retail REIT having wholly-owned properties and joint venture assets aggregating around 40 million square feet of space across 49. It has a Zacks Rank of 5. Notably, the Zacks Consensus Estimates for 2017 and 2018 have experienced downward revisions of 12.4% and 9.1%, respectively, over the past two months.
Xenia Hotels & Resorts, Inc., based in Orlando, FL, is a REIT that makes investments mainly in premium full service and lifestyle hotels. The company targets the top 25 U.S. lodging markets and key leisure destinations in the United States. It has a Zacks Rank of 5. Xenia Hotels & Resorts' long-term expected growth rate of 5% is below the industry's 6.2% growth rate. Moreover, the Zacks Consensus Estimates for 2017 and 2018 have experienced downward revisions over the past two months.
Note: All EPS numbers presented in this write up represent funds from operations ("FFO") per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
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Xenia Hotels & Resorts, Inc. (XHR): Free Stock Analysis Report
Seritage Growth Properties (SRG): Free Stock Analysis Report
American Assets Trust, Inc. (AAT): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | REITs to Avoid Specific REITs that we don't like are American Assets Trust, Inc. (AAT), Corporate Office Properties Trust (COPT), Seritage Growth Properties (SRG) and Xenia Hotels & Resorts, Inc. (XHR). Click to get this free report Xenia Hotels & Resorts, Inc. (XHR): Free Stock Analysis Report Seritage Growth Properties (SRG): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. Although delays resulting from labor shortage and escalating costs have pushed the peak season, the stressed environment is anticipated to continue in the near term and likely to curb residential landlords' ability to command more rents and affect concession levels. | REITs to Avoid Specific REITs that we don't like are American Assets Trust, Inc. (AAT), Corporate Office Properties Trust (COPT), Seritage Growth Properties (SRG) and Xenia Hotels & Resorts, Inc. (XHR). Click to get this free report Xenia Hotels & Resorts, Inc. (XHR): Free Stock Analysis Report Seritage Growth Properties (SRG): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. San Diego, CA-based American Assets Trust is a REIT engaged in acquisition, improvement, development and management of retail, office and residential properties throughout the United States. | REITs to Avoid Specific REITs that we don't like are American Assets Trust, Inc. (AAT), Corporate Office Properties Trust (COPT), Seritage Growth Properties (SRG) and Xenia Hotels & Resorts, Inc. (XHR). Click to get this free report Xenia Hotels & Resorts, Inc. (XHR): Free Stock Analysis Report Seritage Growth Properties (SRG): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. Fundamental Weakness Retail REIT Retail REITs continued to bear the brunt as mall traffic continues to suffer amid a rapid shift in customers' shopping preference through the online channel, resulting in an increasing number of retailers jumping on the dot com bandwagon. | REITs to Avoid Specific REITs that we don't like are American Assets Trust, Inc. (AAT), Corporate Office Properties Trust (COPT), Seritage Growth Properties (SRG) and Xenia Hotels & Resorts, Inc. (XHR). Click to get this free report Xenia Hotels & Resorts, Inc. (XHR): Free Stock Analysis Report Seritage Growth Properties (SRG): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. But the pace of such growth is anticipated to be modest with increased supply of office space that has been curbing the pricing power of landlords and resulting in elevated concession levels. |
21057.0 | 2018-01-04 00:00:00 UTC | New Strong Sell Stocks for January 4th | AAT | https://www.nasdaq.com/articles/new-strong-sell-stocks-for-january-4th-2018-01-04 | nan | nan | Here are 5 stocks added to the Zacks Rank #5 (Strong Sell) List today:
Signet Jewelers LimitedSIG is a retailer of diamond jewelry and watches. The Zacks Consensus Estimate for its current year earnings has been revised 1.8% downward over the last 30 days.
CBL PropertiesCBL is an owner of a portfolio of market-dominant properties. The Zacks Consensus Estimate for its current year earnings has been revised 1.4% downward over the last 30 days.
AXIS Capital Holdings LimitedAXS is a provider of specialty insurance and reinsurance products. The Zacks Consensus Estimate for its current year earnings has been revised 0.5% downward over the last 30 days.
American Assets Trust, Inc.AAT is an owner and operator of a real estate investment trust. The Zacks Consensus Estimate for its current year earnings has been revised 1% downward over the last 30 days.
Harvest Capital Credit CorporationHCAP is an owner and operator of an investment management company. The Zacks Consensus Estimate for its current year earnings has been revised 4.1% downward over the last 60 days.
View the entire Zacks Rank #5 List .
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Harvest Capital Credit Corporation (HCAP): Free Stock Analysis Report
Axis Capital Holdings Limited (AXS): Free Stock Analysis Report
Signet Jewelers Limited (SIG): Free Stock Analysis Report
CBL & Associates Properties, Inc. (CBL): Free Stock Analysis Report
American Assets Trust, Inc. (AAT): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | American Assets Trust, Inc.AAT is an owner and operator of a real estate investment trust. Click to get this free report Harvest Capital Credit Corporation (HCAP): Free Stock Analysis Report Axis Capital Holdings Limited (AXS): Free Stock Analysis Report Signet Jewelers Limited (SIG): Free Stock Analysis Report CBL & Associates Properties, Inc. (CBL): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. Here are 5 stocks added to the Zacks Rank #5 (Strong Sell) List today: Signet Jewelers LimitedSIG is a retailer of diamond jewelry and watches. | Click to get this free report Harvest Capital Credit Corporation (HCAP): Free Stock Analysis Report Axis Capital Holdings Limited (AXS): Free Stock Analysis Report Signet Jewelers Limited (SIG): Free Stock Analysis Report CBL & Associates Properties, Inc. (CBL): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. American Assets Trust, Inc.AAT is an owner and operator of a real estate investment trust. The Zacks Consensus Estimate for its current year earnings has been revised 1.8% downward over the last 30 days. | Click to get this free report Harvest Capital Credit Corporation (HCAP): Free Stock Analysis Report Axis Capital Holdings Limited (AXS): Free Stock Analysis Report Signet Jewelers Limited (SIG): Free Stock Analysis Report CBL & Associates Properties, Inc. (CBL): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. American Assets Trust, Inc.AAT is an owner and operator of a real estate investment trust. The Zacks Consensus Estimate for its current year earnings has been revised 1.8% downward over the last 30 days. | American Assets Trust, Inc.AAT is an owner and operator of a real estate investment trust. Click to get this free report Harvest Capital Credit Corporation (HCAP): Free Stock Analysis Report Axis Capital Holdings Limited (AXS): Free Stock Analysis Report Signet Jewelers Limited (SIG): Free Stock Analysis Report CBL & Associates Properties, Inc. (CBL): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report To read this article on Zacks.com click here. View the entire Zacks Rank #5 List . |
21058.0 | 2017-12-12 00:00:00 UTC | American Assets Trust Inc (AAT) Chairman, CEO & President Ernest S Rady Bought $312,844 of ... | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-chairman-ceo-president-ernest-s-rady-bought-312844-2017-12 | nan | nan | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 8,063 shares of AAT on 12/11/2017 at an average price of $38.8 a share. The total cost of this purchase was $312,844.
American Assets Trust Inc is a self-administered real estate investment trust based in the United States. The company mainly invests in, operates, and develops retail, office, residential, and mixed-use properties in California, Oregon, and Hawaii. American Assets Trust Inc has a market cap of $1.84 billion; its shares were traded at around $39.06 with a P/E ratio of 58.26 and P/S ratio of 8.11. The dividend yield of American Assets Trust Inc stocks is 2.70%. American Assets Trust Inc had annual average EBITDA growth of 3.30% over the past five years.
CEO Recent Trades:
Chairman, CEO & President, 10% Owner Ernest S Rady bought 8,063 shares of AAT stock on 12/11/2017 at the average price of $38.8. The price of the stock has increased by 0.67% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 15,034 shares of AAT stock on 12/08/2017 at the average price of $38.47. The price of the stock has increased by 1.53% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 27,673 shares of AAT stock on 12/06/2017 at the average price of $38.73. The price of the stock has increased by 0.85% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 11,271 shares of AAT stock on 12/01/2017 at the average price of $39.22. The price of the stock has decreased by 0.41% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 26,626 shares of AAT stock on 11/29/2017 at the average price of $39.27. The price of the stock has decreased by 0.53% since.
click here
.About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .
This article first appeared on GuruFocus .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Chairman, CEO & President, 10% Owner Ernest S Rady bought 15,034 shares of AAT stock on 12/08/2017 at the average price of $38.47. Chairman, CEO & President, 10% Owner Ernest S Rady bought 27,673 shares of AAT stock on 12/06/2017 at the average price of $38.73. Chairman, CEO & President, 10% Owner Ernest S Rady bought 11,271 shares of AAT stock on 12/01/2017 at the average price of $39.22. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 8,063 shares of AAT on 12/11/2017 at an average price of $38.8 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 8,063 shares of AAT stock on 12/11/2017 at the average price of $38.8. Chairman, CEO & President, 10% Owner Ernest S Rady bought 15,034 shares of AAT stock on 12/08/2017 at the average price of $38.47. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 8,063 shares of AAT on 12/11/2017 at an average price of $38.8 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 8,063 shares of AAT stock on 12/11/2017 at the average price of $38.8. Chairman, CEO & President, 10% Owner Ernest S Rady bought 15,034 shares of AAT stock on 12/08/2017 at the average price of $38.47. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 8,063 shares of AAT on 12/11/2017 at an average price of $38.8 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 8,063 shares of AAT stock on 12/11/2017 at the average price of $38.8. Chairman, CEO & President, 10% Owner Ernest S Rady bought 15,034 shares of AAT stock on 12/08/2017 at the average price of $38.47. |
21059.0 | 2017-12-08 00:00:00 UTC | American Assets Trust Inc (AAT) Chairman, CEO & President Ernest S Rady Bought $578,358 of ... | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-chairman-ceo-president-ernest-s-rady-bought-578358-2017-12 | nan | nan | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 15,034 shares of AAT on 12/08/2017 at an average price of $38.47 a share. The total cost of this purchase was $578,358.
American Assets Trust Inc is a self-administered real estate investment trust based in the United States. The company mainly invests in, operates, and develops retail, office, residential, and mixed-use properties in California, Oregon, and Hawaii. American Assets Trust Inc has a market cap of $1.81 billion; its shares were traded at around $38.49 with a P/E ratio of 57.46 and P/S ratio of 7.98. The dividend yield of American Assets Trust Inc stocks is 2.71%. American Assets Trust Inc had annual average EBITDA growth of 3.30% over the past five years.
CEO Recent Trades:
Chairman, CEO & President, 10% Owner Ernest S Rady bought 15,034 shares of AAT stock on 12/08/2017 at the average price of $38.47. The price of the stock has increased by 0.05% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 27,673 shares of AAT stock on 12/06/2017 at the average price of $38.73. The price of the stock has decreased by 0.62% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 11,271 shares of AAT stock on 12/01/2017 at the average price of $39.22. The price of the stock has decreased by 1.86% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 26,626 shares of AAT stock on 11/29/2017 at the average price of $39.27. The price of the stock has decreased by 1.99% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 8,672 shares of AAT stock on 11/24/2017 at the average price of $39.43. The price of the stock has decreased by 2.38% since.
click here
.About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .
This article first appeared on GuruFocus .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Chairman, CEO & President, 10% Owner Ernest S Rady bought 27,673 shares of AAT stock on 12/06/2017 at the average price of $38.73. Chairman, CEO & President, 10% Owner Ernest S Rady bought 11,271 shares of AAT stock on 12/01/2017 at the average price of $39.22. Chairman, CEO & President, 10% Owner Ernest S Rady bought 26,626 shares of AAT stock on 11/29/2017 at the average price of $39.27. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 15,034 shares of AAT on 12/08/2017 at an average price of $38.47 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 15,034 shares of AAT stock on 12/08/2017 at the average price of $38.47. Chairman, CEO & President, 10% Owner Ernest S Rady bought 27,673 shares of AAT stock on 12/06/2017 at the average price of $38.73. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 15,034 shares of AAT on 12/08/2017 at an average price of $38.47 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 15,034 shares of AAT stock on 12/08/2017 at the average price of $38.47. Chairman, CEO & President, 10% Owner Ernest S Rady bought 27,673 shares of AAT stock on 12/06/2017 at the average price of $38.73. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 15,034 shares of AAT on 12/08/2017 at an average price of $38.47 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 15,034 shares of AAT stock on 12/08/2017 at the average price of $38.47. Chairman, CEO & President, 10% Owner Ernest S Rady bought 27,673 shares of AAT stock on 12/06/2017 at the average price of $38.73. |
21060.0 | 2017-12-07 00:00:00 UTC | Largest Insider Trades of the Week | AAT | https://www.nasdaq.com/articles/largest-insider-trades-week-2017-12-07 | nan | nan | The GuruFocus All-in-One Screener can be used to find insider trades from the past week. Under the Insiders tab, change the settings for All Insider Buying to "$200,000+," the duration to "December 2017" and All Insider Sales to "$5,000,000+."
According to these filters, company insiders made the following trades this week.
Ernest S. Rady, chairman, CEO, president and 10% owner of American Assets Trust Inc. ( AAT ), bought 27,673 shares for $38.73 per share on Dec. 6. Since then, the stock price has not changed.
The real estate investment trust has a market cap of $1.81 billion and an enterprise value of $3.05 billion. It has an institutional ownership of 99.24% and insider ownership of 1.24%.
Over the past 12 months, the stock price has declined 8% and is currently 14.41% below its 52-week high and 4.29% above its 52-week low.
Kevin P. Clark, president and CEO of Aptiv PLC ( APTV ), bought 22,500 shares for $87.88 per share on Dec. 6. Since then, the stock price has declined to $85.36.
The auto parts company has a market cap of $14.44 billion and an enterprise value of $19.2 billion. It has an institutional ownership of 2.33% and insider ownership of 0.97%.
Over the past 12 months, the stock price has risen 45%.
Akkaraju Srinivas, director of Versartis Inc. ( VSAR ), bought 976,467 shares for $2.17 per share on Dec. 5. The stock price has increased to $2.35 since then.
The biopharmaceutical company has a market cap of $84.15 million. It has an institutional ownership of 62.60% and insider ownership of 4.05%.
Over the past 12 months, the stock price has fallen 82% and is currently 90.21% below its 52-week high and 46.87% above its 52-week low.
Most important insidersales
Jame Reid Anderson, chairman, president and CEO of Six Flags Entertainment Corp. ( SIX ), sold 78,614 shares for $66.32 per share on Dec. 6. Since then, the stock price has not changed.
The theme park operator has a market cap of $5.54 billion and an enterprise value of $7.47 million. It has an institutional ownership of 99.03% and insider ownership of 9.14%.
Over the past 12 months, the stock price has risen 11% and is currently 0.80% below its 52-week high 29% above its 52-week low.
Larry D. Leinweber, director of Tyler Technologies Inc. ( TYL ), sold 28,751 shares for $185.59 per share on Dec. 5. Since then, the stock price has not changed.
The software application provider has a market cap of $6.84 billion and an enterprise value of $6.67 billion. The company has an institutional ownership of 66.52% and insider ownership of 4.58%.
Over the past 12 months, the stock price has risen 25% and is currently 3.32% below its 52-week high and 8.63% above its 52-week low.
Christopher R. Kirkland, director of Simmons First National Corp. (SFNC), sold 160,000 shares for $57.11 per share on Dec. 5. Since then, the stock price has declined to $55.45.
The financial holding company has the market cap of $2.55 billion and an enterprise value of $2.7 billion. It has an institutional ownership of 34.22% and insider ownership of 2.23%.
Over the past 12 months, the stock price has declined 15% and is currently 17.24% below its 52-week high and 11.46% above its 52-week low.
Disclosure: I do not own any stocks mentioned in this article.
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This article first appeared on GuruFocus .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ernest S. Rady, chairman, CEO, president and 10% owner of American Assets Trust Inc. ( AAT ), bought 27,673 shares for $38.73 per share on Dec. 6. The GuruFocus All-in-One Screener can be used to find insider trades from the past week. Over the past 12 months, the stock price has declined 8% and is currently 14.41% below its 52-week high and 4.29% above its 52-week low. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Ernest S. Rady, chairman, CEO, president and 10% owner of American Assets Trust Inc. ( AAT ), bought 27,673 shares for $38.73 per share on Dec. 6. Over the past 12 months, the stock price has declined 8% and is currently 14.41% below its 52-week high and 4.29% above its 52-week low. | Ernest S. Rady, chairman, CEO, president and 10% owner of American Assets Trust Inc. ( AAT ), bought 27,673 shares for $38.73 per share on Dec. 6. Over the past 12 months, the stock price has declined 8% and is currently 14.41% below its 52-week high and 4.29% above its 52-week low. The company has an institutional ownership of 66.52% and insider ownership of 4.58%. | Ernest S. Rady, chairman, CEO, president and 10% owner of American Assets Trust Inc. ( AAT ), bought 27,673 shares for $38.73 per share on Dec. 6. Under the Insiders tab, change the settings for All Insider Buying to "$200,000+," the duration to "December 2017" and All Insider Sales to "$5,000,000+." The company has an institutional ownership of 66.52% and insider ownership of 4.58%. |
21061.0 | 2017-12-06 00:00:00 UTC | How The Parts Add Up: LVL Headed For $12 | AAT | https://www.nasdaq.com/articles/how-parts-add-lvl-headed-12-2017-12-06 | nan | nan | Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel , we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the Guggenheim S&P Global Dividend Opportunities Index ETF (Symbol: LVL), we found that the implied analyst target price for the ETF based upon its underlying holdings is $12.29 per unit.
With LVL trading at a recent price near $11.22 per unit, that means that analysts see 9.60% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of LVL's underlying holdings with notable upside to their analyst target prices are AXIS Capital Holdings Ltd (Symbol: AXS), Validus Holdings Ltd (Symbol: VR), and American Assets Trust Inc (Symbol: AAT). Although AXS has traded at a recent price of $50.47/share, the average analyst target is 17.78% higher at $59.44/share. Similarly, VR has 14.15% upside from the recent share price of $47.45 if the average analyst target price of $54.17/share is reached, and analysts on average are expecting AAT to reach a target price of $44.00/share, which is 13.55% above the recent price of $38.75. Below is a twelve month price history chart comparing the stock performance of AXS, VR, and AAT:
Below is a summary table of the current analyst target prices discussed above:
Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research.
10 ETFs With Most Upside To Analyst Targets »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Below is a twelve month price history chart comparing the stock performance of AXS, VR, and AAT: Below is a summary table of the current analyst target prices discussed above: Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Three of LVL's underlying holdings with notable upside to their analyst target prices are AXIS Capital Holdings Ltd (Symbol: AXS), Validus Holdings Ltd (Symbol: VR), and American Assets Trust Inc (Symbol: AAT). Similarly, VR has 14.15% upside from the recent share price of $47.45 if the average analyst target price of $54.17/share is reached, and analysts on average are expecting AAT to reach a target price of $44.00/share, which is 13.55% above the recent price of $38.75. | Three of LVL's underlying holdings with notable upside to their analyst target prices are AXIS Capital Holdings Ltd (Symbol: AXS), Validus Holdings Ltd (Symbol: VR), and American Assets Trust Inc (Symbol: AAT). Similarly, VR has 14.15% upside from the recent share price of $47.45 if the average analyst target price of $54.17/share is reached, and analysts on average are expecting AAT to reach a target price of $44.00/share, which is 13.55% above the recent price of $38.75. Below is a twelve month price history chart comparing the stock performance of AXS, VR, and AAT: Below is a summary table of the current analyst target prices discussed above: Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? | Similarly, VR has 14.15% upside from the recent share price of $47.45 if the average analyst target price of $54.17/share is reached, and analysts on average are expecting AAT to reach a target price of $44.00/share, which is 13.55% above the recent price of $38.75. Below is a twelve month price history chart comparing the stock performance of AXS, VR, and AAT: Below is a summary table of the current analyst target prices discussed above: Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Three of LVL's underlying holdings with notable upside to their analyst target prices are AXIS Capital Holdings Ltd (Symbol: AXS), Validus Holdings Ltd (Symbol: VR), and American Assets Trust Inc (Symbol: AAT). | Below is a twelve month price history chart comparing the stock performance of AXS, VR, and AAT: Below is a summary table of the current analyst target prices discussed above: Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Three of LVL's underlying holdings with notable upside to their analyst target prices are AXIS Capital Holdings Ltd (Symbol: AXS), Validus Holdings Ltd (Symbol: VR), and American Assets Trust Inc (Symbol: AAT). Similarly, VR has 14.15% upside from the recent share price of $47.45 if the average analyst target price of $54.17/share is reached, and analysts on average are expecting AAT to reach a target price of $44.00/share, which is 13.55% above the recent price of $38.75. |
21062.0 | 2017-12-06 00:00:00 UTC | American Assets Trust Inc (AAT) Chairman, CEO & President Ernest S Rady Bought $1. ... | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-chairman-ceo-president-ernest-s-rady-bought-1-2017-12-06 | nan | nan | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 27,673 shares of AAT on 12/06/2017 at an average price of $38.73 a share. The total cost of this purchase was $1.1 million.
American Assets Trust Inc is a self-administered real estate investment trust based in the United States. The company mainly invests in, operates, and develops retail, office, residential, and mixed-use properties in California, Oregon, and Hawaii. American Assets Trust Inc has a market cap of $1.81 billion; its shares were traded at around $38.37 with a P/E ratio of 57.27 and P/S ratio of 7.95. The dividend yield of American Assets Trust Inc stocks is 2.70%. American Assets Trust Inc had annual average EBITDA growth of 3.30% over the past five years.
CEO Recent Trades:
Chairman, CEO & President, 10% Owner Ernest S Rady bought 27,673 shares of AAT stock on 12/06/2017 at the average price of $38.73. The price of the stock has decreased by 0.93% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 11,271 shares of AAT stock on 12/01/2017 at the average price of $39.22. The price of the stock has decreased by 2.17% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 26,626 shares of AAT stock on 11/29/2017 at the average price of $39.27. The price of the stock has decreased by 2.29% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 8,672 shares of AAT stock on 11/24/2017 at the average price of $39.43. The price of the stock has decreased by 2.69% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 40,167 shares of AAT stock on 11/21/2017 at the average price of $39.34. The price of the stock has decreased by 2.47% since.
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This article first appeared on GuruFocus .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Chairman, CEO & President, 10% Owner Ernest S Rady bought 11,271 shares of AAT stock on 12/01/2017 at the average price of $39.22. Chairman, CEO & President, 10% Owner Ernest S Rady bought 26,626 shares of AAT stock on 11/29/2017 at the average price of $39.27. Chairman, CEO & President, 10% Owner Ernest S Rady bought 8,672 shares of AAT stock on 11/24/2017 at the average price of $39.43. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 27,673 shares of AAT on 12/06/2017 at an average price of $38.73 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 27,673 shares of AAT stock on 12/06/2017 at the average price of $38.73. Chairman, CEO & President, 10% Owner Ernest S Rady bought 11,271 shares of AAT stock on 12/01/2017 at the average price of $39.22. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 27,673 shares of AAT on 12/06/2017 at an average price of $38.73 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 27,673 shares of AAT stock on 12/06/2017 at the average price of $38.73. Chairman, CEO & President, 10% Owner Ernest S Rady bought 11,271 shares of AAT stock on 12/01/2017 at the average price of $39.22. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 27,673 shares of AAT on 12/06/2017 at an average price of $38.73 a share. Chairman, CEO & President, 10% Owner Ernest S Rady bought 11,271 shares of AAT stock on 12/01/2017 at the average price of $39.22. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 27,673 shares of AAT stock on 12/06/2017 at the average price of $38.73. |
21063.0 | 2017-12-05 00:00:00 UTC | American Assets Trust, Inc. (AAT) Ex-Dividend Date Scheduled for December 06, 2017 | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-ex-dividend-date-scheduled-december-06-2017-2017-12-05 | nan | nan | American Assets Trust, Inc. ( AAT ) will begin trading ex-dividend on December 06, 2017. A cash dividend payment of $0.27 per share is scheduled to be paid on December 21, 2017. Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. This represents an 3.85% increase over prior dividend payment. At the current stock price of $39.54, the dividend yield is 2.73%.
The previous trading day's last sale of AAT was $39.54, representing a -11.8% decrease from the 52 week high of $44.83 and a 7.47% increase over the 52 week low of $36.79.
AAT is a part of the Consumer Services sector, which includes companies such as American Tower Corporation (REIT) ( AMT ) and Simon Property Group, Inc. ( SPG ). AAT's current earnings per share, an indicator of a company's profitability, is $.66. Zacks Investment Research reports AAT's forecasted earnings growth in 2017 as 8.65%, compared to an industry average of 5%.
For more information on the declaration, record and payment dates, visit the AAT Dividend History page. Our Dividend Calendar has the full list of stocks that have an ex-dividend today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AAT is a part of the Consumer Services sector, which includes companies such as American Tower Corporation (REIT) ( AMT ) and Simon Property Group, Inc. ( SPG ). Zacks Investment Research reports AAT's forecasted earnings growth in 2017 as 8.65%, compared to an industry average of 5%. For more information on the declaration, record and payment dates, visit the AAT Dividend History page. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. American Assets Trust, Inc. ( AAT ) will begin trading ex-dividend on December 06, 2017. Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. | Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. The previous trading day's last sale of AAT was $39.54, representing a -11.8% decrease from the 52 week high of $44.83 and a 7.47% increase over the 52 week low of $36.79. For more information on the declaration, record and payment dates, visit the AAT Dividend History page. | Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. AAT's current earnings per share, an indicator of a company's profitability, is $.66. American Assets Trust, Inc. ( AAT ) will begin trading ex-dividend on December 06, 2017. |
21064.0 | 2017-12-04 00:00:00 UTC | Weekly CEO Buys Highlight | AAT | https://www.nasdaq.com/articles/weekly-ceo-buys-highlight-2017-12-04 | nan | nan | According to GuruFocus Insider Data, these are the largest CEO buys during the past week.
Tallgrass Energy Partners CEO bought 52,540 shares
Tallgrass Energy Partners LP ( TEP ) President and CEO David G.Dehaemers Jr. bought 52,540 shares during the past week at a price of $42.07.
Tallgrass Energy Partners focuses on the operation, acquisition and development of natural gas and crude oil in North America. It is also engaged in natural gas processing, treating and fractionation facilities. The company has a market cap of $3.30 billion. Its shares traded at $44.65 with a price-earnings (P/E) ratio of 20.15 as of Dec. 1.
Net income for the third quarter of 2017 was $185.50 million compared to $65.43 million for the prior-year period.
Dehaemers bought 15,000 shares of TEP stock on Nov. 17 at a price of $43.63; 15,000 shares on Nov. 21 at a price of $42.97; 31,501 shares on Nov. 27 at a price of $42.5; 15,000 shares on Nov. 28 at a price of $41.52; and 6,039 shares on Nov. 29 at a price of $41.19. The price of the stock has increased by 8.4% since.
Ten percent Security Holder Sira S.A. Sai sold 100,000 shares of TEP stock on Nov. 23 at a price of $0.6.
American Assets Trust CEO bought 46,569 shares
American Assets Trust Inc. ( AAT ) Chairman, CEO, President and 10% Owner Ernest S. Rady bought 46,569 shares during the past week at a price of $39.29.
American Assets Trust is a self-administered real estate investment trust based in the United States. The company mainly invests in, operates, and develops retail, office, residential and mixed-use properties in California, Oregon and Hawaii. The company has a market cap of $2.52 billion. Its shares traded at $39.22 with price-earnings (P/E) ratio of 59.60 as of Dec. 1.
Net income for the third quarter of 2017 was $12.505 million compared to $11.858 million for the prior-year period.
Rady bought 5,825 shares of AAT stock on Nov. 17 at a price of $39.46; 40,167 shares on Nov. 21 at a price of $39.34; 8,672 shares on Nov. 24 at a price of $39.43; 26,626 shares on Nov. 29 at a price of $39.27; and 11,271 shares on Dec. 1 at a price of $39.22. The price of the stock has decreased by 0% since.
Johnson Controls International PLC CEO bought 27,300 shares
Johnson Controls International PLC ( JCI ) Chairman and CEO George Oliver bought 27,300 shares on November 24 at a price of $36.80. The price of the stock has increased by 1.68% since.
Johnson Controls manufactures, installs and services HVAC systems, building management systems and controls, and industrial refrigeration systems. The firm, along with Tyco International, offers fire and security products and services. The company has a market cap of $34.63 billion. Its shares traded at $37.42 as of Dec. 1.
Net (loss) income for the fourth quarter of 2017 was $927 million compared to $1.132 billion for the prior-year period. Johnson Controls and Tyco merged in Sept. 6, 2016, with Johnson Controls International as the surviving entity.
Vice President and President Global Products BT&S William C. Jackson bought 20,000 shares of JCI stock on Nov. 21 at a price of $36. The price of the stock has increased by 3.94% since.
Hostess Brands CEO bought 50,000 shares
Hostess Brands Inc. ( TWNK ) CEO William Douglas Toler bought 50,000 shares on Nov. 24 at a price of $12.88. The price of the stock has increased by 11.41% since.
Hostess Brands is a packaged food company. It is engaged in developing, manufacturing, marketing, selling and distributing fresh baked sweet goods in the U.S. The company has a market cap of $1.872 billion. Its shares traded at $14.35 as of Dec. 1.
Net income for the three months ended Sept. 30 was $16.130 million compared to $33.513 million for the prior-year period.
Director Neil P. Defeo bought 10,000 shares of TWNK stock on November 24 at a price of $12.96. The price of the stock has increased by 10.73% since.
Westlake Chemical Partners LP CEO Bought 25,275 Shares
Westlake Chemical Partners LP ( WLKP ) President, CEO, and 10% Owner Albert Chao bought 25,275 shares during the past week at a price of $22.04.
Westlake Chemical Partners operates, acquires and develops facilities for the processing of natural gas liquids as well as other qualified assets. The company has a market cap of $720 million. Its shares traded at $22.35 with a price-earnings (P/E) ratio of 15.73 as of Dec. 1.
Net income for the three months ended September 30, 2017 was $82.245 million compared to $75.859 million for the prior year period.
Chao bought 2,000 shares of WLKP stock on November 22 at a price of $21.49; 2,000 shares on November 22 at a price of $21.49; 10,375 shares on November 27 at a price of $22.12; and 14,900 shares on November 29 at a price of $21.98. The price of the stock has increased by 1.68% since.
For the complete list of stocks that bought by their company CEOs, go to: CEO Buys .
Disclosure: I do not own stock in any of the companies mentioned in the article.
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This article first appeared on GuruFocus .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | American Assets Trust CEO bought 46,569 shares American Assets Trust Inc. ( AAT ) Chairman, CEO, President and 10% Owner Ernest S. Rady bought 46,569 shares during the past week at a price of $39.29. Rady bought 5,825 shares of AAT stock on Nov. 17 at a price of $39.46; 40,167 shares on Nov. 21 at a price of $39.34; 8,672 shares on Nov. 24 at a price of $39.43; 26,626 shares on Nov. 29 at a price of $39.27; and 11,271 shares on Dec. 1 at a price of $39.22. Tallgrass Energy Partners focuses on the operation, acquisition and development of natural gas and crude oil in North America. | American Assets Trust CEO bought 46,569 shares American Assets Trust Inc. ( AAT ) Chairman, CEO, President and 10% Owner Ernest S. Rady bought 46,569 shares during the past week at a price of $39.29. Rady bought 5,825 shares of AAT stock on Nov. 17 at a price of $39.46; 40,167 shares on Nov. 21 at a price of $39.34; 8,672 shares on Nov. 24 at a price of $39.43; 26,626 shares on Nov. 29 at a price of $39.27; and 11,271 shares on Dec. 1 at a price of $39.22. Tallgrass Energy Partners CEO bought 52,540 shares Tallgrass Energy Partners LP ( TEP ) President and CEO David G.Dehaemers Jr. bought 52,540 shares during the past week at a price of $42.07. | Rady bought 5,825 shares of AAT stock on Nov. 17 at a price of $39.46; 40,167 shares on Nov. 21 at a price of $39.34; 8,672 shares on Nov. 24 at a price of $39.43; 26,626 shares on Nov. 29 at a price of $39.27; and 11,271 shares on Dec. 1 at a price of $39.22. American Assets Trust CEO bought 46,569 shares American Assets Trust Inc. ( AAT ) Chairman, CEO, President and 10% Owner Ernest S. Rady bought 46,569 shares during the past week at a price of $39.29. Dehaemers bought 15,000 shares of TEP stock on Nov. 17 at a price of $43.63; 15,000 shares on Nov. 21 at a price of $42.97; 31,501 shares on Nov. 27 at a price of $42.5; 15,000 shares on Nov. 28 at a price of $41.52; and 6,039 shares on Nov. 29 at a price of $41.19. | Rady bought 5,825 shares of AAT stock on Nov. 17 at a price of $39.46; 40,167 shares on Nov. 21 at a price of $39.34; 8,672 shares on Nov. 24 at a price of $39.43; 26,626 shares on Nov. 29 at a price of $39.27; and 11,271 shares on Dec. 1 at a price of $39.22. American Assets Trust CEO bought 46,569 shares American Assets Trust Inc. ( AAT ) Chairman, CEO, President and 10% Owner Ernest S. Rady bought 46,569 shares during the past week at a price of $39.29. Dehaemers bought 15,000 shares of TEP stock on Nov. 17 at a price of $43.63; 15,000 shares on Nov. 21 at a price of $42.97; 31,501 shares on Nov. 27 at a price of $42.5; 15,000 shares on Nov. 28 at a price of $41.52; and 6,039 shares on Nov. 29 at a price of $41.19. |
21065.0 | 2017-11-29 00:00:00 UTC | American Assets Trust Inc (AAT) Chairman, CEO & President Ernest S Rady Bought $1 million ... | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-chairman-ceo-president-ernest-s-rady-bought-1-million-2017 | nan | nan | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 26,626 shares of AAT on 11/29/2017 at an average price of $39.27 a share. The total cost of this purchase was $1 million.
American Assets Trust Inc is a self-administered real estate investment trust based in the United States. The company mainly invests in, operates, and develops retail, office, residential, and mixed-use properties in California, Oregon, and Hawaii. American Assets Trust Inc has a market cap of $1.87 billion; its shares were traded at around $39.74 with a P/E ratio of 59.31 and P/S ratio of 8.21. The dividend yield of American Assets Trust Inc stocks is 2.63%. American Assets Trust Inc had annual average EBITDA growth of 3.30% over the past five years.
CEO Recent Trades:
Chairman, CEO & President, 10% Owner Ernest S Rady bought 26,626 shares of AAT stock on 11/29/2017 at the average price of $39.27. The price of the stock has increased by 1.2% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 8,672 shares of AAT stock on 11/24/2017 at the average price of $39.43. The price of the stock has increased by 0.79% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 40,167 shares of AAT stock on 11/21/2017 at the average price of $39.34. The price of the stock has increased by 1.02% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 5,825 shares of AAT stock on 11/17/2017 at the average price of $39.46. The price of the stock has increased by 0.71% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 500 shares of AAT stock on 11/09/2017 at the average price of $38.98. The price of the stock has increased by 1.95% since.
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.About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .
This article first appeared on GuruFocus .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Chairman, CEO & President, 10% Owner Ernest S Rady bought 8,672 shares of AAT stock on 11/24/2017 at the average price of $39.43. Chairman, CEO & President, 10% Owner Ernest S Rady bought 40,167 shares of AAT stock on 11/21/2017 at the average price of $39.34. Chairman, CEO & President, 10% Owner Ernest S Rady bought 5,825 shares of AAT stock on 11/17/2017 at the average price of $39.46. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 26,626 shares of AAT on 11/29/2017 at an average price of $39.27 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 26,626 shares of AAT stock on 11/29/2017 at the average price of $39.27. Chairman, CEO & President, 10% Owner Ernest S Rady bought 8,672 shares of AAT stock on 11/24/2017 at the average price of $39.43. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 26,626 shares of AAT on 11/29/2017 at an average price of $39.27 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 26,626 shares of AAT stock on 11/29/2017 at the average price of $39.27. Chairman, CEO & President, 10% Owner Ernest S Rady bought 8,672 shares of AAT stock on 11/24/2017 at the average price of $39.43. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 26,626 shares of AAT on 11/29/2017 at an average price of $39.27 a share. Chairman, CEO & President, 10% Owner Ernest S Rady bought 8,672 shares of AAT stock on 11/24/2017 at the average price of $39.43. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 26,626 shares of AAT stock on 11/29/2017 at the average price of $39.27. |
21066.0 | 2017-11-27 00:00:00 UTC | American Assets Trust Inc (AAT) Chairman, CEO & President Ernest S Rady Bought $341,937 of ... | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-chairman-ceo-president-ernest-s-rady-bought-341937-2017-11 | nan | nan | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 8,672 shares of AAT on 11/24/2017 at an average price of $39.43 a share. The total cost of this purchase was $341,937.
American Assets Trust Inc is a self-administered real estate investment trust based in the United States. The company mainly invests in, operates, and develops retail, office, residential, and mixed-use properties in California, Oregon, and Hawaii. American Assets Trust Inc has a market cap of $1.85 billion; its shares were traded at around $39.21 with a P/E ratio of 58.51 and P/S ratio of 8.10. The dividend yield of American Assets Trust Inc stocks is 2.66%. American Assets Trust Inc had annual average EBITDA growth of 3.30% over the past five years.
CEO Recent Trades:
Chairman, CEO & President, 10% Owner Ernest S Rady bought 8,672 shares of AAT stock on 11/24/2017 at the average price of $39.43. The price of the stock has decreased by 0.56% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 40,167 shares of AAT stock on 11/21/2017 at the average price of $39.34. The price of the stock has decreased by 0.33% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 5,825 shares of AAT stock on 11/17/2017 at the average price of $39.46. The price of the stock has decreased by 0.63% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 500 shares of AAT stock on 11/09/2017 at the average price of $38.98. The price of the stock has increased by 0.59% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 85,155 shares of AAT stock on 11/08/2017 at the average price of $38.84. The price of the stock has increased by 0.95% since.
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.About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .
This article first appeared on GuruFocus .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Chairman, CEO & President, 10% Owner Ernest S Rady bought 40,167 shares of AAT stock on 11/21/2017 at the average price of $39.34. Chairman, CEO & President, 10% Owner Ernest S Rady bought 5,825 shares of AAT stock on 11/17/2017 at the average price of $39.46. Chairman, CEO & President, 10% Owner Ernest S Rady bought 500 shares of AAT stock on 11/09/2017 at the average price of $38.98. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 8,672 shares of AAT on 11/24/2017 at an average price of $39.43 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 8,672 shares of AAT stock on 11/24/2017 at the average price of $39.43. Chairman, CEO & President, 10% Owner Ernest S Rady bought 40,167 shares of AAT stock on 11/21/2017 at the average price of $39.34. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 8,672 shares of AAT on 11/24/2017 at an average price of $39.43 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 8,672 shares of AAT stock on 11/24/2017 at the average price of $39.43. Chairman, CEO & President, 10% Owner Ernest S Rady bought 40,167 shares of AAT stock on 11/21/2017 at the average price of $39.34. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 8,672 shares of AAT on 11/24/2017 at an average price of $39.43 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 8,672 shares of AAT stock on 11/24/2017 at the average price of $39.43. Chairman, CEO & President, 10% Owner Ernest S Rady bought 40,167 shares of AAT stock on 11/21/2017 at the average price of $39.34. |
21067.0 | 2017-11-10 00:00:00 UTC | Largest Insider Trades of the Week | AAT | https://www.nasdaq.com/articles/largest-insider-trades-week-2017-11-10 | nan | nan | The GuruFocus All-In-One Screener can be used to find insider trades from the past week. Under the Insiders tab, change the settings for All Insider Buying to "$200,000+," the duration to "November 2017" and All Insider Sales to "$5,000,000+."
According to the above filters, the following trades were made by company insiders this week.
Wesley R. Edens, director of Drive Shack Inc. ( DS ), bought 398,895 shares for $3.97 per share on Nov. 9. Since then, the stock price has risen to $4.05.
The real estate investment trust (REIT) has a market cap of $271.2 million and an enterprise value of $313.03 million. It has an institutional ownership of 41.01% and insider ownership of 4.38%.
Over the past 12 months, the stock price has declined 11% and is currently 10.99% below its 52-week high and 68.05% above its 52-week low.
The Hain Celestial Group Inc. ( HAIN ) Chairman, President and CEO Irwin D. Simon bought 50,000 shares for $34.14 per share on Nov. 9. Since then, the stock price has not changed.
The packaged foods company has a market cap of $3.57 billion and an enterprise value of $4.17 billion. It has an institutional ownership of 95.25% and insider ownership of 2.70%.
Over the past 12 months, the stock price has declined 4% and is currently 24.56% below its 52-week high and 10.96% above its 52-week low.
Ernest S. Rady, chairman, CEO and president of American Assets Trust Inc. ( AAT ), bought 85,155 shares for $38.84 per share on Nov. 8.
The REIT has a market cap of $1.83 billion and an enterprise value of $3.04 billion. It has an institutional ownership of 98.50% and an insider ownership of 1.24%.
Over the past 12 months, the stock price has fallen 2% and is currently 13.23% below its 52-week high and 5.74% above its 52-week low.
Most important insidersales
Martin Plaehn, chairman, CEO and president of Control4 Corp. ( CTRL ), sold 222,000 shares for $32.25 per share on Nov. 9. Since then, the stock price has not changed.
The home automation systems provider has a market cap of $797.66 million and an enterprise value of $714.43 million. It has an institutional ownership of 81.28% and insider ownership of 1.22%.
Over the past 12 months, the stock price has risen 182% and is currently 7.42% below its 52-week high and 213.19% above its 52-week low.
Ameriprise Financial Inc ( AMP ) Chairman and CEO James M. Cracchiolo sold 42,228 shares for $159.33 per share on Nov. 9.
The asset management firm has a market cap of $23.53 billion and an enterprise value of $26.5 billion. It has an institutional ownership of 93.46% and insider ownership of 0.48%.
Over the past 12 months, the stock price has risen 45% and is currently 2.45% below its 52-week high and 53.02% above its 52-week low.
Stephen K. Doberstein, senior vice president and chief scientific officer of Nektar Therapeutics Inc. (NKTR), sold 396,323 shares for $29 per share on Nov. 8. Since then, the stock price has increased to $31.74.
The biopharmaceutical company has a market cap of $4.74 billion and an enterprise value of $4.72 billion. It has an institutional ownership of 91.01% and insider ownership of 1.63%.
Over the past 12 months, the stock price has risen 123% and is currently 4.54% below its 52-week high and 165.56% above its 52-week low.
Disclosure: I do not own any stocks mentioned in this article.
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This article first appeared on GuruFocus .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ernest S. Rady, chairman, CEO and president of American Assets Trust Inc. ( AAT ), bought 85,155 shares for $38.84 per share on Nov. 8. The GuruFocus All-In-One Screener can be used to find insider trades from the past week. Over the past 12 months, the stock price has declined 11% and is currently 10.99% below its 52-week high and 68.05% above its 52-week low. | Ernest S. Rady, chairman, CEO and president of American Assets Trust Inc. ( AAT ), bought 85,155 shares for $38.84 per share on Nov. 8. The Hain Celestial Group Inc. ( HAIN ) Chairman, President and CEO Irwin D. Simon bought 50,000 shares for $34.14 per share on Nov. 9. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ernest S. Rady, chairman, CEO and president of American Assets Trust Inc. ( AAT ), bought 85,155 shares for $38.84 per share on Nov. 8. Over the past 12 months, the stock price has risen 182% and is currently 7.42% below its 52-week high and 213.19% above its 52-week low. Over the past 12 months, the stock price has risen 45% and is currently 2.45% below its 52-week high and 53.02% above its 52-week low. | Ernest S. Rady, chairman, CEO and president of American Assets Trust Inc. ( AAT ), bought 85,155 shares for $38.84 per share on Nov. 8. Under the Insiders tab, change the settings for All Insider Buying to "$200,000+," the duration to "November 2017" and All Insider Sales to "$5,000,000+." Since then, the stock price has risen to $4.05. |
21068.0 | 2017-11-01 00:00:00 UTC | American Assets Trust is Oversold | AAT | https://www.nasdaq.com/articles/american-assets-trust-oversold-2017-11-01 | nan | nan | The DividendRank formula at Dividend Channel ranks a coverage universe of thousands of dividend stocks , according to a proprietary formula designed to identify those stocks that combine two important characteristics - strong fundamentals and a valuation that looks inexpensive. American Assets Trust Inc (Symbol: AAT) presently has an above average rank, in the top 50% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors.
But making American Assets Trust Inc an even more interesting and timely stock to look at, is the fact that in trading on Wednesday, shares of AAT entered into oversold territory, changing hands as low as $36.791 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30. In the case of American Assets Trust Inc, the RSI reading has hit 29.9 - by comparison, the universe of dividend stocks covered by Dividend Channel currently has an average RSI of 51.8. A falling stock price - all else being equal - creates a better opportunity for dividend investors to capture a higher yield. Indeed, AAT's recent annualized dividend of 1.08/share (currently paid in quarterly installments) works out to an annual yield of 2.78% based upon the recent $38.79 share price.
A bullish investor could look at AAT's 29.9 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. Among the fundamental datapoints dividend investors should investigate to decide if they are bullish on AAT is its dividend history. In general, dividends are not always predictable; but, looking at the history chart below can help in judging whether the most recent dividend is likely to continue.
According to the ETF Finder at ETF Channel, AAT makes up 1.05% of the PowerShares S&P SmallCap Financials Portfolio ETF (Symbol: PSCF) which is trading up by about 0.2% on the day Wednesday.
Click here to find out what 9 other oversold dividend stocks you need to know about »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A bullish investor could look at AAT's 29.9 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. American Assets Trust Inc (Symbol: AAT) presently has an above average rank, in the top 50% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors. But making American Assets Trust Inc an even more interesting and timely stock to look at, is the fact that in trading on Wednesday, shares of AAT entered into oversold territory, changing hands as low as $36.791 per share. | American Assets Trust Inc (Symbol: AAT) presently has an above average rank, in the top 50% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors. But making American Assets Trust Inc an even more interesting and timely stock to look at, is the fact that in trading on Wednesday, shares of AAT entered into oversold territory, changing hands as low as $36.791 per share. Indeed, AAT's recent annualized dividend of 1.08/share (currently paid in quarterly installments) works out to an annual yield of 2.78% based upon the recent $38.79 share price. | American Assets Trust Inc (Symbol: AAT) presently has an above average rank, in the top 50% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors. But making American Assets Trust Inc an even more interesting and timely stock to look at, is the fact that in trading on Wednesday, shares of AAT entered into oversold territory, changing hands as low as $36.791 per share. Indeed, AAT's recent annualized dividend of 1.08/share (currently paid in quarterly installments) works out to an annual yield of 2.78% based upon the recent $38.79 share price. | But making American Assets Trust Inc an even more interesting and timely stock to look at, is the fact that in trading on Wednesday, shares of AAT entered into oversold territory, changing hands as low as $36.791 per share. American Assets Trust Inc (Symbol: AAT) presently has an above average rank, in the top 50% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors. Indeed, AAT's recent annualized dividend of 1.08/share (currently paid in quarterly installments) works out to an annual yield of 2.78% based upon the recent $38.79 share price. |
21069.0 | 2017-10-11 00:00:00 UTC | American Assets Trust (AAT) Shares Cross Above 200 DMA | AAT | https://www.nasdaq.com/articles/american-assets-trust-aat-shares-cross-above-200-dma-2017-10-11 | nan | nan | In trading on Wednesday, shares of American Assets Trust Inc (Symbol: AAT) crossed above their 200 day moving average of $41.32, changing hands as high as $41.43 per share. American Assets Trust Inc shares are currently trading up about 1.3% on the day. The chart below shows the one year performance of AAT shares, versus its 200 day moving average:
Looking at the chart above, AAT's low point in its 52 week range is $37.54 per share, with $44.83 as the 52 week high point - that compares with a last trade of $41.37.
According to the ETF Finder at ETF Channel, AAT makes up 1.07% of the PowerShares S&P SmallCap Financials Portfolio ETF (Symbol: PSCF) which is trading lower by about 0.2% on the day Wednesday.
Click here to find out which 9 other dividend stocks recently crossed above their 200 day moving average »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Wednesday, shares of American Assets Trust Inc (Symbol: AAT) crossed above their 200 day moving average of $41.32, changing hands as high as $41.43 per share. The chart below shows the one year performance of AAT shares, versus its 200 day moving average: Looking at the chart above, AAT's low point in its 52 week range is $37.54 per share, with $44.83 as the 52 week high point - that compares with a last trade of $41.37. According to the ETF Finder at ETF Channel, AAT makes up 1.07% of the PowerShares S&P SmallCap Financials Portfolio ETF (Symbol: PSCF) which is trading lower by about 0.2% on the day Wednesday. | In trading on Wednesday, shares of American Assets Trust Inc (Symbol: AAT) crossed above their 200 day moving average of $41.32, changing hands as high as $41.43 per share. The chart below shows the one year performance of AAT shares, versus its 200 day moving average: Looking at the chart above, AAT's low point in its 52 week range is $37.54 per share, with $44.83 as the 52 week high point - that compares with a last trade of $41.37. According to the ETF Finder at ETF Channel, AAT makes up 1.07% of the PowerShares S&P SmallCap Financials Portfolio ETF (Symbol: PSCF) which is trading lower by about 0.2% on the day Wednesday. | In trading on Wednesday, shares of American Assets Trust Inc (Symbol: AAT) crossed above their 200 day moving average of $41.32, changing hands as high as $41.43 per share. The chart below shows the one year performance of AAT shares, versus its 200 day moving average: Looking at the chart above, AAT's low point in its 52 week range is $37.54 per share, with $44.83 as the 52 week high point - that compares with a last trade of $41.37. According to the ETF Finder at ETF Channel, AAT makes up 1.07% of the PowerShares S&P SmallCap Financials Portfolio ETF (Symbol: PSCF) which is trading lower by about 0.2% on the day Wednesday. | In trading on Wednesday, shares of American Assets Trust Inc (Symbol: AAT) crossed above their 200 day moving average of $41.32, changing hands as high as $41.43 per share. According to the ETF Finder at ETF Channel, AAT makes up 1.07% of the PowerShares S&P SmallCap Financials Portfolio ETF (Symbol: PSCF) which is trading lower by about 0.2% on the day Wednesday. The chart below shows the one year performance of AAT shares, versus its 200 day moving average: Looking at the chart above, AAT's low point in its 52 week range is $37.54 per share, with $44.83 as the 52 week high point - that compares with a last trade of $41.37. |
21070.0 | 2017-09-12 00:00:00 UTC | American Assets Trust, Inc. (AAT) Ex-Dividend Date Scheduled for September 13, 2017 | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-ex-dividend-date-scheduled-september-13-2017-2017-09-12 | nan | nan | American Assets Trust, Inc. ( AAT ) will begin trading ex-dividend on September 13, 2017. A cash dividend payment of $0.26 per share is scheduled to be paid on September 28, 2017. Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. This marks the 4th quarter that AAT has paid the same dividend. At the current stock price of $40.86, the dividend yield is 2.55%.
The previous trading day's last sale of AAT was $40.86, representing a -8.86% decrease from the 52 week high of $44.83 and a 8.84% increase over the 52 week low of $37.54.
AAT is a part of the Consumer Services sector, which includes companies such as American Tower Corporation (REIT) ( AMT ) and Simon Property Group, Inc. ( SPG ). AAT's current earnings per share, an indicator of a company's profitability, is $.66. Zacks Investment Research reports AAT's forecasted earnings growth in 2017 as 9.19%, compared to an industry average of 4.7%.
For more information on the declaration, record and payment dates, visit the AAT Dividend History page. Our Dividend Calendar has the full list of stocks that have an ex-dividend today.
Interested in gaining exposure to AAT through an Exchange Traded Fund [ETF]?
The following ETF(s) have AAT as a top-10 holding:
First Trust S&P REIT Index Fund ( FRI )
First Trust FTSE EPRA/NAREIT Global Real Estate Index Fund ( FFR ).
The top-performing ETF of this group is FFR with an increase of 3.17% over the last 100 days. FRI has the highest percent weighting of AAT at 0.21%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AAT is a part of the Consumer Services sector, which includes companies such as American Tower Corporation (REIT) ( AMT ) and Simon Property Group, Inc. ( SPG ). Zacks Investment Research reports AAT's forecasted earnings growth in 2017 as 9.19%, compared to an industry average of 4.7%. For more information on the declaration, record and payment dates, visit the AAT Dividend History page. | The following ETF(s) have AAT as a top-10 holding: First Trust S&P REIT Index Fund ( FRI ) First Trust FTSE EPRA/NAREIT Global Real Estate Index Fund ( FFR ). The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. American Assets Trust, Inc. ( AAT ) will begin trading ex-dividend on September 13, 2017. | Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. For more information on the declaration, record and payment dates, visit the AAT Dividend History page. The following ETF(s) have AAT as a top-10 holding: First Trust S&P REIT Index Fund ( FRI ) First Trust FTSE EPRA/NAREIT Global Real Estate Index Fund ( FFR ). | AAT's current earnings per share, an indicator of a company's profitability, is $.66. The following ETF(s) have AAT as a top-10 holding: First Trust S&P REIT Index Fund ( FRI ) First Trust FTSE EPRA/NAREIT Global Real Estate Index Fund ( FFR ). American Assets Trust, Inc. ( AAT ) will begin trading ex-dividend on September 13, 2017. |
21071.0 | 2017-09-11 00:00:00 UTC | Ex-Dividend Reminder: Mercury General, Intercontinental Exchange and American Assets Trust | AAT | https://www.nasdaq.com/articles/ex-dividend-reminder-mercury-general-intercontinental-exchange-and-american-assets-trust | nan | nan | Looking at the universe of stocks we cover at Dividend Channel , on 9/13/17, Mercury General Corp. (Symbol: MCY), Intercontinental Exchange Incorporated (Symbol: ICE), and American Assets Trust Inc (Symbol: AAT) will all trade ex-dividend for their respective upcoming dividends. Mercury General Corp. will pay its quarterly dividend of $0.6225 on 9/28/17, Intercontinental Exchange Incorporated will pay its quarterly dividend of $0.20 on 9/29/17, and American Assets Trust Inc will pay its quarterly dividend of $0.26 on 9/28/17. As a percentage of MCY's recent stock price of $58.70, this dividend works out to approximately 1.06%, so look for shares of Mercury General Corp. to trade 1.06% lower - all else being equal - when MCY shares open for trading on 9/13/17. Similarly, investors should look for ICE to open 0.30% lower in price and for AAT to open 0.64% lower, all else being equal.
Below are dividend history charts for MCY, ICE, and AAT, showing historical dividends prior to the most recent ones declared.
Mercury General Corp. (Symbol: MCY) :
Intercontinental Exchange Incorporated (Symbol: ICE) :
American Assets Trust Inc (Symbol: AAT) :
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 4.24% for Mercury General Corp., 1.21% for Intercontinental Exchange Incorporated, and 2.54% for American Assets Trust Inc.
In Monday trading, Mercury General Corp. shares are currently up about 2.8%, Intercontinental Exchange Incorporated shares are up about 1.3%, and American Assets Trust Inc shares are up about 0.4% on the day.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Looking at the universe of stocks we cover at Dividend Channel , on 9/13/17, Mercury General Corp. (Symbol: MCY), Intercontinental Exchange Incorporated (Symbol: ICE), and American Assets Trust Inc (Symbol: AAT) will all trade ex-dividend for their respective upcoming dividends. Similarly, investors should look for ICE to open 0.30% lower in price and for AAT to open 0.64% lower, all else being equal. Below are dividend history charts for MCY, ICE, and AAT, showing historical dividends prior to the most recent ones declared. | Looking at the universe of stocks we cover at Dividend Channel , on 9/13/17, Mercury General Corp. (Symbol: MCY), Intercontinental Exchange Incorporated (Symbol: ICE), and American Assets Trust Inc (Symbol: AAT) will all trade ex-dividend for their respective upcoming dividends. Mercury General Corp. (Symbol: MCY) : Intercontinental Exchange Incorporated (Symbol: ICE) : American Assets Trust Inc (Symbol: AAT) : In general, dividends are not always predictable, following the ups and downs of company profits over time. Similarly, investors should look for ICE to open 0.30% lower in price and for AAT to open 0.64% lower, all else being equal. | Looking at the universe of stocks we cover at Dividend Channel , on 9/13/17, Mercury General Corp. (Symbol: MCY), Intercontinental Exchange Incorporated (Symbol: ICE), and American Assets Trust Inc (Symbol: AAT) will all trade ex-dividend for their respective upcoming dividends. Mercury General Corp. (Symbol: MCY) : Intercontinental Exchange Incorporated (Symbol: ICE) : American Assets Trust Inc (Symbol: AAT) : In general, dividends are not always predictable, following the ups and downs of company profits over time. Similarly, investors should look for ICE to open 0.30% lower in price and for AAT to open 0.64% lower, all else being equal. | Looking at the universe of stocks we cover at Dividend Channel , on 9/13/17, Mercury General Corp. (Symbol: MCY), Intercontinental Exchange Incorporated (Symbol: ICE), and American Assets Trust Inc (Symbol: AAT) will all trade ex-dividend for their respective upcoming dividends. Similarly, investors should look for ICE to open 0.30% lower in price and for AAT to open 0.64% lower, all else being equal. Below are dividend history charts for MCY, ICE, and AAT, showing historical dividends prior to the most recent ones declared. |
21072.0 | 2017-09-08 00:00:00 UTC | ECB Meeting: What You Need to Know | AAT | https://www.nasdaq.com/articles/ecb-meeting-what-you-need-know-2017-09-08 | nan | nan | In a recent monetary policy meeting held in Frankfurt, the European Central Bank (ECB) kept interest rates unchanged while keeping the bond buying at a run rate of 60 billion euros ($72.2 billion) per month. Subdued inflation and an uncertain exchange rate are the primary reasons for the continued expansionary stance of the ECB.
Interest rates are expected to remain at the current level for an extended period of time. Regarding quantitative easing, bond buying will continue at the pace of 60 billion euros until the end of 2017, or beyond if necessary. Reinvestment of principal from maturing securities is also not being curtailed.
The medium-term outlook for inflation and growth remains unchanged for the eurozone. Despite strong economic growth, inflation lagged behind the target rate. Inflation ticked up slightly in recent months, but remained at restrained levels overall. In short, economic growth is translating into inflation gains rather slowly.
GDP growth is improving
Economic growth in the eurozone looks stable with GDP expected to grow 2.2% and 1.8% in 2017 and 2018. Compared to the June 2017 projection, GDP growth has been revised upward by the ECB in the current outlook.
Economic growth is being supported by the expansionary monetary policy, according to the ECB. Quantitative easing is resulting in favorable financing conditions along with facilitating deleveraging, which in turn is resulting in corporate profitability, employment gains and demand growth.
The ECB's statement should be analyzed with caution, however. Once tapering starts, leverage problems will come back for financial institutions and corporations using the expansionary policy for deleveraging. Further, financing can become a problem once the taper starts. As a result, economic growth ignited through monetary expansion will have some repercussions when reversal kicks in.
Inflation stays under pressure
The ECB expects headline inflation to decline during the last part of the year. Improvement is yet to be seen in measures of underlying inflation.
Annual HICP inflation is expected to be around 1.5% and 1.2% for 2017 and 2018, according to ECB Staff projections. It is important to note the inflation projection has been revised downward compared to the June forecast on inflation. The downward revision was primarily caused by the appreciation of the euro. Mario Draghi, president of the ECB, had the following to say at the press conference.
To review, inflation remains under pressure, which is not surprising, as policy expansion measures across the globe are not affecting inflation much. In the U.S., the Federal Reserve's aggressive quantitative easing programs have been unable to bring the inflation to the target level. The eurozone is mimicking the same outcome.
One of the reasons for this might be the channeling of expansionary money towards the financial asset markets. The effect of expansionary policy isn't affecting the grass-root level of the economy. That's why we see inflated financial assets across the board, but no effect on inflation.
What's the outlook for further monetary expansion?
At the moment, GDP is growing but inflation is consistently failing to hit the required levels. The ECB believes inflation is on an upward trajectory based on a medium-term outlook. But until the inflation target is met, the bank will be reluctant to start the tapering process. Draghi was quite clear about that at the press conference:
He further noted"
Some might argue downward revision in inflation was caused by the strengthening of the euro, and the ECB will start to taper soon. The problem is the bank itself is not sure. Uncertainty created by the appreciation of the euro will hold the ECB from reducing its balance sheet. Answering a question about exchange rate, Draghi said:
The point is uncertainty is there. The ECB is not going to taper unless the inflation target is met and economic growth remains on track.
Final thoughts
The ECB's current press conference was the same tantrum all over again. Growth is healthy, but inflation remains subdued. Hence, the sentiment was dovish. Low inflation will keep the ECB on its expansionary track. Reduction in the balance sheet, or tapering, is not likely anytime soon as the ECB cited inflation concerns amid exchange rate uncertainty. In my view, tapering is unlikely and stock markets will continue to be fueled by the money from quantitative easing.
Warning! GuruFocus has detected 5 Warning Signs with AAT. Click here to check it out.
AAT 15-Year Financial Data
The intrinsic value of AAT
Peter Lynch Chart of AAT
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This article first appeared on GuruFocus .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | GuruFocus has detected 5 Warning Signs with AAT. AAT 15-Year Financial Data The intrinsic value of AAT Peter Lynch Chart of AAT Premium Members This article first appeared on GuruFocus . Once tapering starts, leverage problems will come back for financial institutions and corporations using the expansionary policy for deleveraging. | GuruFocus has detected 5 Warning Signs with AAT. AAT 15-Year Financial Data The intrinsic value of AAT Peter Lynch Chart of AAT Premium Members This article first appeared on GuruFocus . In a recent monetary policy meeting held in Frankfurt, the European Central Bank (ECB) kept interest rates unchanged while keeping the bond buying at a run rate of 60 billion euros ($72.2 billion) per month. | GuruFocus has detected 5 Warning Signs with AAT. AAT 15-Year Financial Data The intrinsic value of AAT Peter Lynch Chart of AAT Premium Members This article first appeared on GuruFocus . Inflation stays under pressure The ECB expects headline inflation to decline during the last part of the year. | GuruFocus has detected 5 Warning Signs with AAT. AAT 15-Year Financial Data The intrinsic value of AAT Peter Lynch Chart of AAT Premium Members This article first appeared on GuruFocus . GDP growth is improving Economic growth in the eurozone looks stable with GDP expected to grow 2.2% and 1.8% in 2017 and 2018. |
21073.0 | 2017-09-08 00:00:00 UTC | American Assets Trust Inc (AAT) Chairman, CEO & President Ernest S Rady Bought $1. ... | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-chairman-ceo-president-ernest-s-rady-bought-1-2017-09-08 | nan | nan | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 46,834 shares of AAT on 09/08/2017 at an average price of $40.79 a share. The total cost of this purchase was $1.9 million.
American Assets Trust Inc is a self-administered real estate investment trust based in the United States. The company mainly invests in, operates, and develops retail, office, residential, and mixed-use properties in California, Oregon, and Hawaii. American Assets Trust Inc has a market cap of $1.92 billion; its shares were traded at around $40.72 with a P/E ratio of 60.78 and P/S ratio of 8.54. The dividend yield of American Assets Trust Inc stocks is 2.54%. American Assets Trust Inc had annual average EBITDA growth of 3.30% over the past five years.
CEO Recent Trades:
Chairman, CEO & President, 10% Owner Ernest S Rady bought 46,834 shares of AAT stock on 09/08/2017 at the average price of $40.79. The price of the stock has decreased by 0.17% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 9,567 shares of AAT stock on 09/01/2017 at the average price of $40.6. The price of the stock has increased by 0.3% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 42,530 shares of AAT stock on 08/30/2017 at the average price of $40.3. The price of the stock has increased by 1.04% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 9,438 shares of AAT stock on 08/25/2017 at the average price of $40.45. The price of the stock has increased by 0.67% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 34,037 shares of AAT stock on 08/23/2017 at the average price of $40.24. The price of the stock has increased by 1.19% since.
Directors and Officers Recent Trades:
V. P. Construction and Devlp Jerry Gammieri sold 277 shares of AAT stock on 08/31/2017 at the average price of $40.68. The price of the stock has increased by 0.1% since.
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.About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .
This article first appeared on GuruFocus .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Chairman, CEO & President, 10% Owner Ernest S Rady bought 9,567 shares of AAT stock on 09/01/2017 at the average price of $40.6. Chairman, CEO & President, 10% Owner Ernest S Rady bought 42,530 shares of AAT stock on 08/30/2017 at the average price of $40.3. Directors and Officers Recent Trades: V. P. Construction and Devlp Jerry Gammieri sold 277 shares of AAT stock on 08/31/2017 at the average price of $40.68. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 46,834 shares of AAT on 09/08/2017 at an average price of $40.79 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 46,834 shares of AAT stock on 09/08/2017 at the average price of $40.79. Chairman, CEO & President, 10% Owner Ernest S Rady bought 9,567 shares of AAT stock on 09/01/2017 at the average price of $40.6. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 46,834 shares of AAT on 09/08/2017 at an average price of $40.79 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 46,834 shares of AAT stock on 09/08/2017 at the average price of $40.79. Chairman, CEO & President, 10% Owner Ernest S Rady bought 9,567 shares of AAT stock on 09/01/2017 at the average price of $40.6. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 46,834 shares of AAT on 09/08/2017 at an average price of $40.79 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 46,834 shares of AAT stock on 09/08/2017 at the average price of $40.79. Chairman, CEO & President, 10% Owner Ernest S Rady bought 9,567 shares of AAT stock on 09/01/2017 at the average price of $40.6. |
21074.0 | 2017-09-04 00:00:00 UTC | Federal Realty (FRT) Sells 150 Post Street for $69.3 Million | AAT | https://www.nasdaq.com/articles/federal-realty-frt-sells-150-post-street-for-%2469.3-million-2017-09-04 | nan | nan | Federal Realty Investment TrustFRT is making diligent efforts to sell its non-core assets and redeploy the proceeds toward strategic growth schemes. Recently, the company announced that it has sold 150 Post Street - an office and retail property spanning 105,000 square feet of space - for $69.3 million.
Federal Realty took advantage of the competitive investment sales market in the San Francisco area and shed its investment in the seven-story property. The company is actively looking for further opportunities to shed its non-core assets and has already made disposals totaling $123 million, year to date.
Federal Realty has been selling its non-strategic assets to fund acquisitions in premium markets, which, in turn, generates income growth and creates long-term value. This will enable company achieve balanced growth without straining its capital resources and balance sheet.
In sync with such efforts, recently, Federal Realty announced the closing of a new joint venture with Los Angeles-based owner and developer of premier retail properties - Primestor Development Inc. The company has around 90% stake in the venture.
Notably, this venture is seeded with a full interest in five dominant community shopping centers, in addition to one center under redevelopment and a 25% minority stake in a seventh shopping center. Together, these seven properties comprise more than 1.3 million square feet of space on 114 acres of urban land. Federal Realty's investment in the venture is around $345 million, which includes a $20-million commitment to finish redevelopment of one of the centers.
However, similar to other retail REITs, Federal Realty has been facing stiff competition from online retailing platforms. With online purchases taking precedence, mall traffic continues to be affected, leading to an increasing number of retailers joining the dot-com bandwagon.. This has compelled the existing retailers to reconsider their footprint and eventually opt for store closures.
These challenges in the retail real estate market are expected to have an adverse impact on the company's shares which have underperformed its industry , year to date. During this period, shares of the company have lost 10.7% of its value, while the industry suffered a decline of 5.8%.
Federal Realty currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Better-ranked stocks in the REIT space include American Asset Trust AAT , Getty Realty Corporation GTY and Communications Sales & Leasing, Inc. UNIT . All these stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
American Asset's funds from operation (FFO) per share estimates for 2017 inched up 1% to $2 over the past 60 days.
In the last 60 days, Getty Realty's 2017 FFO per share estimates moved up 7.8% to $1.94.
Communications Sales & Leasing's FFO per share estimates for full-year 2017 climbed 14.4% to $2.54 in a month's time.
Note: All EPS numbers presented in this write up represent funds from operations ("FFO") per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
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Federal Realty Investment Trust (FRT): Free Stock Analysis Report
American Assets Trust, Inc. (AAT): Free Stock Analysis Report
Getty Realty Corporation (GTY): Free Stock Analysis Report
Communications Sales & Leasing,Inc. (UNIT): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Stocks to Consider Better-ranked stocks in the REIT space include American Asset Trust AAT , Getty Realty Corporation GTY and Communications Sales & Leasing, Inc. UNIT . Click to get this free report Federal Realty Investment Trust (FRT): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Getty Realty Corporation (GTY): Free Stock Analysis Report Communications Sales & Leasing,Inc. Federal Realty Investment TrustFRT is making diligent efforts to sell its non-core assets and redeploy the proceeds toward strategic growth schemes. | Stocks to Consider Better-ranked stocks in the REIT space include American Asset Trust AAT , Getty Realty Corporation GTY and Communications Sales & Leasing, Inc. UNIT . Click to get this free report Federal Realty Investment Trust (FRT): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Getty Realty Corporation (GTY): Free Stock Analysis Report Communications Sales & Leasing,Inc. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Stocks to Consider Better-ranked stocks in the REIT space include American Asset Trust AAT , Getty Realty Corporation GTY and Communications Sales & Leasing, Inc. UNIT . Click to get this free report Federal Realty Investment Trust (FRT): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Getty Realty Corporation (GTY): Free Stock Analysis Report Communications Sales & Leasing,Inc. Federal Realty took advantage of the competitive investment sales market in the San Francisco area and shed its investment in the seven-story property. | Stocks to Consider Better-ranked stocks in the REIT space include American Asset Trust AAT , Getty Realty Corporation GTY and Communications Sales & Leasing, Inc. UNIT . Click to get this free report Federal Realty Investment Trust (FRT): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Getty Realty Corporation (GTY): Free Stock Analysis Report Communications Sales & Leasing,Inc. American Asset's funds from operation (FFO) per share estimates for 2017 inched up 1% to $2 over the past 60 days. |
21075.0 | 2017-08-31 00:00:00 UTC | Don't Sell Realty Income's (O) Stock Right Now: Here's Why | AAT | https://www.nasdaq.com/articles/dont-sell-realty-incomes-o-stock-right-now%3A-heres-why-2017-08-31 | nan | nan | Shrinking footfall at malls amid shift of consumers toward online channels, store closures and bankruptcy of retailers emerged as a pressing concern for majority of the retail REITs. But not all are equally facing the brunt, and some have managed to book gains even in this environment, thanks to the business models.
On such stock is Realty Income CorporationO , shares of which have outperformed the industry in the past three months, gaining 2.5% against 1.9% increase of that of its industry .
The company's portfolio is well diversified with respect to tenant, industry, geography and property type. Its properties are located in 49 states and Puerto Rico. Further, tenants operate in 47 different industries. In addition, besides retail properties, the company's portfolio comprises industrial, office, as well as agricultural properties. This diversification helps mitigate risks associated with a particular industry, geography or asset type.
Importantly, this freestanding retail REIT derives more than 90% of its annualized retail rental revenue from tenants with a service, non-discretionary, and/or low price point component to their business. Such businesses are less susceptible to economic recessions, as well as competition from Internet retailing. Moreover, the company targets industrial properties leased to Fortune 1000, mainly investment grade rated companies. These efforts boost the stability of the rental revenue generated from the properties.
Also, the company's solid underlying real estate quality and prudent underwriting at acquisition has helped the company maintain high occupancy levels consistently. In fact, since 1996, the company's occupancy level has never been below 96%. In 2017 too, the company projects occupancy to remain at approximately 98%. Additionally, its same store rent growth depicted limited operational volatility.
The company continues to maintain a conservative capital structure. It has modest leverage, robust liquidity, and continued access to attractively priced equity and debt capital. Moreover, it has well-laddered debt maturity schedule.
Also, solid dividend payouts are arguably the biggest enticement for REIT shareholders, and Realty Income remains committed to that. The company enjoys a trademark on the phrase "The Monthly Dividend Company." To date the company has hiked its dividend 92 times since its public listing in 1994 and declared 566 consecutive common stock monthly dividends in its 48-year operating history.
However, despite Realty Income's effort to diversify the tenant base, its tenants in the drug store industry accounted for around 11.0% of its rental revenue in second-quarter 2017. This makes the company's results susceptible to any adverse changes in this industry.
Further, the company has a substantial exposure to single tenant assets. In fact, of the company's 5,028 properties in the portfolio, as of Jun 30, 2017, 5,000, or 99.4%, are single-tenant properties and the rest are multi-tenant assets. However, single-tenant leases involve specific and significant risks associated with tenant default. Thus, in case of financial failure of, or default in payment by, a single tenant, the company's rental revenue from that property as well as the value of the property suffers significantly.
Realty Income currently has a Zacks Rank #3 (Hold).
Stocks to Consider
Better-ranked stocks in the real estate space include American Assets Trust, Inc. AAT , Communications Sales & Leasing, Inc. UNIT and InfraREIT Inc. HIFR , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
While American Assets Trust and Communications Sales & Leasing have expected long-term growth rates of 6.1% and 7.5%, respectively, the expected long-term growth rate for InfraREIT is currently pegged at around 8%.
Note: All EPS numbers presented in this write up represent funds from operations ("FFO") per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income .
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
American Assets Trust, Inc. (AAT): Free Stock Analysis Report
Realty Income Corporation (O): Free Stock Analysis Report
InfraREIT, Inc. (HIFR): Free Stock Analysis Report
Communications Sales & Leasing,Inc. (UNIT): Free Stock Analysis Report
To read this article on Zacks.com click here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Stocks to Consider Better-ranked stocks in the real estate space include American Assets Trust, Inc. AAT , Communications Sales & Leasing, Inc. UNIT and InfraREIT Inc. HIFR , each carrying a Zacks Rank #2 (Buy). Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Realty Income Corporation (O): Free Stock Analysis Report InfraREIT, Inc. (HIFR): Free Stock Analysis Report Communications Sales & Leasing,Inc. Also, solid dividend payouts are arguably the biggest enticement for REIT shareholders, and Realty Income remains committed to that. | Stocks to Consider Better-ranked stocks in the real estate space include American Assets Trust, Inc. AAT , Communications Sales & Leasing, Inc. UNIT and InfraREIT Inc. HIFR , each carrying a Zacks Rank #2 (Buy). Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Realty Income Corporation (O): Free Stock Analysis Report InfraREIT, Inc. (HIFR): Free Stock Analysis Report Communications Sales & Leasing,Inc. While American Assets Trust and Communications Sales & Leasing have expected long-term growth rates of 6.1% and 7.5%, respectively, the expected long-term growth rate for InfraREIT is currently pegged at around 8%. | Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Realty Income Corporation (O): Free Stock Analysis Report InfraREIT, Inc. (HIFR): Free Stock Analysis Report Communications Sales & Leasing,Inc. Stocks to Consider Better-ranked stocks in the real estate space include American Assets Trust, Inc. AAT , Communications Sales & Leasing, Inc. UNIT and InfraREIT Inc. HIFR , each carrying a Zacks Rank #2 (Buy). In addition, besides retail properties, the company's portfolio comprises industrial, office, as well as agricultural properties. | Stocks to Consider Better-ranked stocks in the real estate space include American Assets Trust, Inc. AAT , Communications Sales & Leasing, Inc. UNIT and InfraREIT Inc. HIFR , each carrying a Zacks Rank #2 (Buy). Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Realty Income Corporation (O): Free Stock Analysis Report InfraREIT, Inc. (HIFR): Free Stock Analysis Report Communications Sales & Leasing,Inc. Further, tenants operate in 47 different industries. |
21076.0 | 2017-08-30 00:00:00 UTC | American Assets Trust Inc (AAT) Chairman, CEO & President Ernest S Rady Bought $1. ... | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-chairman-ceo-president-ernest-s-rady-bought-1-2017-08-30 | nan | nan | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 42,530 shares of AAT on 08/30/2017 at an average price of $40.3 a share. The total cost of this purchase was $1.7 million.
American Assets Trust Inc is a self-administered real estate investment trust based in the United States. The company mainly invests in, operates, and develops retail, office, residential, and mixed-use properties in California, Oregon, and Hawaii. American Assets Trust Inc has a market cap of $1.9 billion; its shares were traded at around $40.31 with a P/E ratio of 60.17 and P/S ratio of 8.46. The dividend yield of American Assets Trust Inc stocks is 2.57%. American Assets Trust Inc had annual average EBITDA growth of 3.30% over the past five years.
CEO Recent Trades:
Chairman, CEO & President, 10% Owner Ernest S Rady bought 42,530 shares of AAT stock on 08/30/2017 at the average price of $40.3. The price of the stock has increased by 0.02% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 9,438 shares of AAT stock on 08/25/2017 at the average price of $40.45. The price of the stock has decreased by 0.35% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 34,037 shares of AAT stock on 08/23/2017 at the average price of $40.24. The price of the stock has increased by 0.17% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 37,498 shares of AAT stock on 08/18/2017 at the average price of $40.1. The price of the stock has increased by 0.52% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 44,542 shares of AAT stock on 08/16/2017 at the average price of $40.48. The price of the stock has decreased by 0.42% since.
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.About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .
This article first appeared on GuruFocus .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Chairman, CEO & President, 10% Owner Ernest S Rady bought 9,438 shares of AAT stock on 08/25/2017 at the average price of $40.45. Chairman, CEO & President, 10% Owner Ernest S Rady bought 34,037 shares of AAT stock on 08/23/2017 at the average price of $40.24. Chairman, CEO & President, 10% Owner Ernest S Rady bought 37,498 shares of AAT stock on 08/18/2017 at the average price of $40.1. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 42,530 shares of AAT on 08/30/2017 at an average price of $40.3 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 42,530 shares of AAT stock on 08/30/2017 at the average price of $40.3. Chairman, CEO & President, 10% Owner Ernest S Rady bought 9,438 shares of AAT stock on 08/25/2017 at the average price of $40.45. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 42,530 shares of AAT on 08/30/2017 at an average price of $40.3 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 42,530 shares of AAT stock on 08/30/2017 at the average price of $40.3. Chairman, CEO & President, 10% Owner Ernest S Rady bought 9,438 shares of AAT stock on 08/25/2017 at the average price of $40.45. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 42,530 shares of AAT on 08/30/2017 at an average price of $40.3 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 42,530 shares of AAT stock on 08/30/2017 at the average price of $40.3. Chairman, CEO & President, 10% Owner Ernest S Rady bought 9,438 shares of AAT stock on 08/25/2017 at the average price of $40.45. |
21077.0 | 2017-08-28 00:00:00 UTC | Don't Sell Federal Realty's (FRT) Stock Now: Here's Why | AAT | https://www.nasdaq.com/articles/dont-sell-federal-realtys-frt-stock-now%3A-heres-why-2017-08-28 | nan | nan | Federal Realty Investment TrustFRT , similar to other retail real estate investment trusts (REIT), has been facing low demand for its real estate amid a rising trend in online purchases. Hence the company has been capitalizing on expansion opportunities in premium markets to support its operating performance.
Specifically, Federal Realty has been actively investing in assets, which generates income growth and creates long-term value. Also, the company sells its non-core assets and redeploys the proceeds toward strategic growth schemes to facilitate this. It has been bolstering its bottom line through expansion, renovation and re-tenanting efforts.
In fact, on Aug 3, Federal Realty announced the closing of a new joint venture with Los Angeles-based owner and developer of premier retail properties - Primestor Development Inc. The venture is seeded with a full interest in five dominant community shopping centers, in addition to one center under redevelopment, as well as a 25% minority stake in a seventh shopping center. The company has around 90% stake in the venture.
In order to cushion itself from short-term market swings, Federal Realty signs long-term leases with annual bumps. On a comparable-space basis (spaces for which a former tenant was there), the company leased 397,555 square feet of space, at an average cash-basis contractual rent escalation of 13%. Rent increases (on a straight-line basis) for comparable retail space averaged 27% for second-quarter 2017. In addition, the upscale geographic location of the company's properties and the diversified tenant base of retailers help it enjoy a stable source of rental revenues.
Amid a fast evolving retail environment, the company has been making diligent efforts to reposition, redevelop and re-merchandise its portfolio. This includes an upgradation of its tenant mix. While such efforts are a strategic fit for the long term, the short-term adverse impact on earnings cannot be bypassed.
Although Federal Realty's improving development and redevelopment pipeline is encouraging for its future growth, it increases the company's operational risks by exposing it to escalating construction costs, entitlement delays and lease-up risks.
Shares of Federal Realty have underperformed its industry year to date, declining 9.7% compared with the industry's plunge of 5.6%. Further, the Zacks Consensus Estimate for fourth-quarter 2017 funds from operations (FFO) per share has been revised 0.7% downward to $1.50 in a month's time.
Currently, Federal Realty carries a Zacks Rank #3 (Hold).
Stocks to Consider
A few better-ranked stocks in the REIT space include Getty Realty Corporation GTY , Seritage Growth Properties SRG and American Asset Trust, Inc AAT .
While Getty Realty and Seritage sport a Zacks Rank #1 (Strong Buy), American Asset Trust carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
Getty Realty's 2017 FFO per share estimates moved up 7.8% to $1.94 in the past 60 days.
Seritage's 2017 FFO per share estimates inched up 0.5% to $2.01 in a month's time.
American Asset Trust's 2017 FFO per share estimates climbed 1% to $2.01 over the past 60 days.
Note: All EPS numbers presented in this write up represent funds from operations ("FFO") per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
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Federal Realty Investment Trust (FRT): Free Stock Analysis Report
American Assets Trust, Inc. (AAT): Free Stock Analysis Report
Getty Realty Corporation (GTY): Free Stock Analysis Report
Seritage Growth Properties (SRG): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Stocks to Consider A few better-ranked stocks in the REIT space include Getty Realty Corporation GTY , Seritage Growth Properties SRG and American Asset Trust, Inc AAT . Click to get this free report Federal Realty Investment Trust (FRT): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Getty Realty Corporation (GTY): Free Stock Analysis Report Seritage Growth Properties (SRG): Free Stock Analysis Report To read this article on Zacks.com click here. In addition, the upscale geographic location of the company's properties and the diversified tenant base of retailers help it enjoy a stable source of rental revenues. | Stocks to Consider A few better-ranked stocks in the REIT space include Getty Realty Corporation GTY , Seritage Growth Properties SRG and American Asset Trust, Inc AAT . Click to get this free report Federal Realty Investment Trust (FRT): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Getty Realty Corporation (GTY): Free Stock Analysis Report Seritage Growth Properties (SRG): Free Stock Analysis Report To read this article on Zacks.com click here. While Getty Realty and Seritage sport a Zacks Rank #1 (Strong Buy), American Asset Trust carries a Zacks Rank #2 (Buy). | Stocks to Consider A few better-ranked stocks in the REIT space include Getty Realty Corporation GTY , Seritage Growth Properties SRG and American Asset Trust, Inc AAT . Click to get this free report Federal Realty Investment Trust (FRT): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Getty Realty Corporation (GTY): Free Stock Analysis Report Seritage Growth Properties (SRG): Free Stock Analysis Report To read this article on Zacks.com click here. While Getty Realty and Seritage sport a Zacks Rank #1 (Strong Buy), American Asset Trust carries a Zacks Rank #2 (Buy). | Stocks to Consider A few better-ranked stocks in the REIT space include Getty Realty Corporation GTY , Seritage Growth Properties SRG and American Asset Trust, Inc AAT . Click to get this free report Federal Realty Investment Trust (FRT): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Getty Realty Corporation (GTY): Free Stock Analysis Report Seritage Growth Properties (SRG): Free Stock Analysis Report To read this article on Zacks.com click here. Specifically, Federal Realty has been actively investing in assets, which generates income growth and creates long-term value. |
21078.0 | 2017-08-25 00:00:00 UTC | American Assets Trust Inc (AAT) Chairman, CEO & President Ernest S Rady Bought $381,767 of ... | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-chairman-ceo-president-ernest-s-rady-bought-381767-2017-08 | nan | nan | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 9,438 shares of AAT on 08/25/2017 at an average price of $40.45 a share. The total cost of this purchase was $381,767.
American Assets Trust Inc is a self-administered real estate investment trust based in the United States. The company mainly invests in, operates, and develops retail, office, residential, and mixed-use properties in California, Oregon, and Hawaii. American Assets Trust Inc has a market cap of $1.92 billion; its shares were traded at around $40.82 with a P/E ratio of 60.97 and P/S ratio of 8.58. The dividend yield of American Assets Trust Inc stocks is 2.51%. American Assets Trust Inc had annual average EBITDA growth of 3.30% over the past five years.
CEO Recent Trades:
Chairman, CEO & President, 10% Owner Ernest S Rady bought 9,438 shares of AAT stock on 08/25/2017 at the average price of $40.45. The price of the stock has increased by 0.91% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 34,037 shares of AAT stock on 08/23/2017 at the average price of $40.24. The price of the stock has increased by 1.44% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 37,498 shares of AAT stock on 08/18/2017 at the average price of $40.1. The price of the stock has increased by 1.8% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 44,542 shares of AAT stock on 08/16/2017 at the average price of $40.48. The price of the stock has increased by 0.84% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 63,887 shares of AAT stock on 08/11/2017 at the average price of $40.03. The price of the stock has increased by 1.97% since.
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.About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .
This article first appeared on GuruFocus .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Chairman, CEO & President, 10% Owner Ernest S Rady bought 34,037 shares of AAT stock on 08/23/2017 at the average price of $40.24. Chairman, CEO & President, 10% Owner Ernest S Rady bought 37,498 shares of AAT stock on 08/18/2017 at the average price of $40.1. Chairman, CEO & President, 10% Owner Ernest S Rady bought 44,542 shares of AAT stock on 08/16/2017 at the average price of $40.48. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 9,438 shares of AAT on 08/25/2017 at an average price of $40.45 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 9,438 shares of AAT stock on 08/25/2017 at the average price of $40.45. Chairman, CEO & President, 10% Owner Ernest S Rady bought 34,037 shares of AAT stock on 08/23/2017 at the average price of $40.24. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 9,438 shares of AAT on 08/25/2017 at an average price of $40.45 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 9,438 shares of AAT stock on 08/25/2017 at the average price of $40.45. Chairman, CEO & President, 10% Owner Ernest S Rady bought 34,037 shares of AAT stock on 08/23/2017 at the average price of $40.24. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 9,438 shares of AAT on 08/25/2017 at an average price of $40.45 a share. Chairman, CEO & President, 10% Owner Ernest S Rady bought 34,037 shares of AAT stock on 08/23/2017 at the average price of $40.24. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 9,438 shares of AAT stock on 08/25/2017 at the average price of $40.45. |
21079.0 | 2017-08-23 00:00:00 UTC | GuruFocus Value Conference 2018: Suggest a Speaker | AAT | https://www.nasdaq.com/articles/gurufocus-value-conference-2018-suggest-speaker-2017-08-23 | nan | nan | GuruFocus Value Conference 2018 will be held at the DoubleTree Hotel in downtown Omaha from the evening of May 3 to the afternoon of May 4, the Thursday and Friday before the annual Berkshire Hathaway meeting.
We are reaching out to a group of excellent investors and fund managers to speak at the conference. If you have any suggestions for speakers, please let us know in the comment area of this article. If you think you are a good investor and good speaker, feel free to contact us .
We had Don Yacktman, Jean-Marie Eveillard and Prof. Bruce Greenwald and many other great investors speak at our past conferences. Their stock ideas from the conferences have also outperformed the market tremendously.
The attendees are mostly investment advisors and other professional investors. In 2017 we had about 150 investors from 21 countries at the conference. You can see the 2017 conference pictures here .
Also please feel free to let me know if you have any questions about the conference.
You can suggest conference speakers below. Please don't suggest Warren Buffett ( Trades , Portfolio) or Charlie Munger (Trades, Portfolio). We tried already.
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This article first appeared on GuruFocus .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | GuruFocus Value Conference 2018 will be held at the DoubleTree Hotel in downtown Omaha from the evening of May 3 to the afternoon of May 4, the Thursday and Friday before the annual Berkshire Hathaway meeting. We are reaching out to a group of excellent investors and fund managers to speak at the conference. We had Don Yacktman, Jean-Marie Eveillard and Prof. Bruce Greenwald and many other great investors speak at our past conferences. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. If you think you are a good investor and good speaker, feel free to contact us . | We had Don Yacktman, Jean-Marie Eveillard and Prof. Bruce Greenwald and many other great investors speak at our past conferences. In 2017 we had about 150 investors from 21 countries at the conference. You can suggest conference speakers below. | We are reaching out to a group of excellent investors and fund managers to speak at the conference. If you have any suggestions for speakers, please let us know in the comment area of this article. You can suggest conference speakers below. |
21080.0 | 2017-08-22 00:00:00 UTC | Simon Property (SPG) Settles Radius Restriction Litigation | AAT | https://www.nasdaq.com/articles/simon-property-spg-settles-radius-restriction-litigation-2017-08-22 | nan | nan | Simon Property Group Inc.SPG has agreed on a settlement with Attorney General Eric T. Schneiderman over its "anticompetitive tactics" that limit the development of competing outlet centers in New York City. The company is the owner of Woodbury Common center in Hudson Valley region and Roosevelt Field in Garden City.
In an Attorney General's Office investigation, it was established that retailers at Woodbury Common Premium Outlets were under contractual restrictions restraining them from opening a second store within the radius of 60 "air miles," or about 70 land miles. Those in violation of the condition faced penalty charges.
Thus, Woodbury Common enjoyed "monopoly power" in the New York City area among 200 other outlet centers across the country. The restriction also foiled efforts of several developers who faced a hard time in signing key retailers for their outlet centers. Moreover, it confined competitive outlet centers from thriving in the New York City, limiting the choices available for consumers and retailers.
Per the settlement, the largest mall operator in the United States will pay $945,000 to New York State in addition to dissolving the radius restriction in its existing leases.
Moreover, the company will restrain from using radius restrictions or other similar privileged agreements for the next 10 years that might hinder the growth of other outlet centers. To ensure unbiased compliance with the settlement, Simon has agreed to appoint an independent monitor.
This agreement will accordingly allow new outlet malls to flourish in Queens, Brooklyn, The Bronx and Staten Island, benefiting the consumers and several retailers. It is anticipated to boost the growth of New York economy.
In a statement, Simon defended that its radius restrictions have a "lawful" and "reasonable" basis, and these restrictions were used long before the company acquired Woodbury Common in 2004. Moreover, it also "granted exception" and waived off the provision on several occasions.
Woodbury Common's annual revenues total more than $1.3 billion. Some popular retailers at the outlet center are Michael Kors, Coach, Dior, Gucci, Fendi and Armani.
The settlement has increased the company's litigation expenses and is anticipated to drain its resources. Moreover, Simon has been facing challenges to retain its customers with online shopping taking precedence over in-store purchase.
Year to date, shares of Simon have underperformed the industry. While the company's shares fell 13%, the industry declined 7.2% over this period. The stock currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
A few better-ranked stocks in the REIT space are American Asset Trust, Inc AAT , PS Business Parks, Inc. PSB and Communications Sales & Leasing, Inc. UNIT . All these stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
While American Asset Trust and PS Business Parks, Inc. have expected long-term growth rates of 6.1% and 5%, respectively, Communications Sales & Leasing has an expected long-term growth rate of 7.5%.
Note: All EPS numbers presented in this write up represent funds from operations ("FFO") per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
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Simon Property Group, Inc. (SPG): Free Stock Analysis Report
American Assets Trust, Inc. (AAT): Free Stock Analysis Report
PS Business Parks, Inc. (PSB): Free Stock Analysis Report
Communications Sales & Leasing,Inc. (UNIT): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Stocks to Consider A few better-ranked stocks in the REIT space are American Asset Trust, Inc AAT , PS Business Parks, Inc. PSB and Communications Sales & Leasing, Inc. UNIT . Click to get this free report Simon Property Group, Inc. (SPG): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report PS Business Parks, Inc. (PSB): Free Stock Analysis Report Communications Sales & Leasing,Inc. Simon Property Group Inc.SPG has agreed on a settlement with Attorney General Eric T. Schneiderman over its "anticompetitive tactics" that limit the development of competing outlet centers in New York City. | Stocks to Consider A few better-ranked stocks in the REIT space are American Asset Trust, Inc AAT , PS Business Parks, Inc. PSB and Communications Sales & Leasing, Inc. UNIT . Click to get this free report Simon Property Group, Inc. (SPG): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report PS Business Parks, Inc. (PSB): Free Stock Analysis Report Communications Sales & Leasing,Inc. While American Asset Trust and PS Business Parks, Inc. have expected long-term growth rates of 6.1% and 5%, respectively, Communications Sales & Leasing has an expected long-term growth rate of 7.5%. | Stocks to Consider A few better-ranked stocks in the REIT space are American Asset Trust, Inc AAT , PS Business Parks, Inc. PSB and Communications Sales & Leasing, Inc. UNIT . Click to get this free report Simon Property Group, Inc. (SPG): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report PS Business Parks, Inc. (PSB): Free Stock Analysis Report Communications Sales & Leasing,Inc. Simon Property Group Inc.SPG has agreed on a settlement with Attorney General Eric T. Schneiderman over its "anticompetitive tactics" that limit the development of competing outlet centers in New York City. | Stocks to Consider A few better-ranked stocks in the REIT space are American Asset Trust, Inc AAT , PS Business Parks, Inc. PSB and Communications Sales & Leasing, Inc. UNIT . Click to get this free report Simon Property Group, Inc. (SPG): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report PS Business Parks, Inc. (PSB): Free Stock Analysis Report Communications Sales & Leasing,Inc. Moreover, the company will restrain from using radius restrictions or other similar privileged agreements for the next 10 years that might hinder the growth of other outlet centers. |
21081.0 | 2017-08-17 00:00:00 UTC | Can Regency's (REG) Mergers Counter Rising Internet Sales? | AAT | https://www.nasdaq.com/articles/can-regencys-reg-mergers-counter-rising-internet-sales-2017-08-17 | nan | nan | Regency Centers CorporationREG has been making strategic acquisitions to drive the company's long-term growth. Recently, the company announced the closure of the Equity One-merger deal, a move that created a combined company with a total market capitalization of around $16 billion.
Notably, this merger created a high quality portfolio of 429 properties, mainly grocery-anchored, for the company.
Making solid progress in the merger, Regency has engaged Real Foundations (RF) to provide guidance, planning, program management and data conversion services for this. The efficient moves enabled Regency to already realize the anticipated $27 million of G&A synergies.
The company is also shedding its non-strategic assets and redeploying the proceeds in its development pipeline. Specifically, during he second quarter, the company sold one wholly owned property and one co-investment property, for a gross price of $25.1 million, Regency's share being $7.1 million. It also commenced the development of Mellody Farm, a 252,000 square foot center in the Chicago metro area, with total estimated net development costs of $97.4 million.
Additionally, Regency primarily focuses on building a premium portfolio of grocery-anchored shopping centers. These centers are usually necessity driven and drive a dependable traffic. The company boasts a cluster of industry-leading grocers, such as Kroger, Safeway and Publix as tenants, which help generate steady rental revenue.
Even though the company has considerable experience in the retail real estate industry, it faces stiff competition from other retail REITs as well as private real estate developers. This limits any growth in the demand for its properties.
Furthermore, the shift of retail shopping from brick and mortar stores to internet sales has emerged as a pressing concern. Particularly, the recent focus of online retailers in the grocery business has emerged as a concern for this REIT that focuses on building a premium portfolio of grocery-anchored shopping centers. This is because the shift in retail shopping to internet sales has been adversely affecting the retail tenants' sales, leading retailers to reconsider their footprint and opt for store closures, in turn, resulting in lesser demand for retail real estate space.
At the second-quarter end, the company had 29 projects in development or under redevelopment with estimated costs of $600 million. Although a growing development and redevelopment projects pipeline is encouraging, it exposes the company to various risks such as escalating construction costs, entitlement delays and lease-ups. Moreover, such initiatives involve significant upfront costs and drag the margin until the properties get established.
Shares of Regency have underperformed the industry year to date. During this time frame, shares of the company descended 5%, whereas the industry increased nearly 1%. The stock currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked stocks in the REIT space are American Asset Trust, Inc AAT , Communications Sales & Leasing, Inc. UNIT and Liberty Property Trust LPT . All three stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
While American Asset Trust and Communications Sales & Leasing have expected long-term growth rates of 6.1% and 7.5%, respectively, Liberty Property Trust has expected long-term growth rate of 5%.
Note: All EPS numbers presented in this write up represent funds from operations ("FFO") per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
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Regency Centers Corporation (REG): Free Stock Analysis Report
American Assets Trust, Inc. (AAT): Free Stock Analysis Report
Liberty Property Trust (LPT): Free Stock Analysis Report
Communications Sales & Leasing,Inc. (UNIT): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Stocks to Consider Some better-ranked stocks in the REIT space are American Asset Trust, Inc AAT , Communications Sales & Leasing, Inc. UNIT and Liberty Property Trust LPT . Click to get this free report Regency Centers Corporation (REG): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Liberty Property Trust (LPT): Free Stock Analysis Report Communications Sales & Leasing,Inc. Making solid progress in the merger, Regency has engaged Real Foundations (RF) to provide guidance, planning, program management and data conversion services for this. | Stocks to Consider Some better-ranked stocks in the REIT space are American Asset Trust, Inc AAT , Communications Sales & Leasing, Inc. UNIT and Liberty Property Trust LPT . Click to get this free report Regency Centers Corporation (REG): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Liberty Property Trust (LPT): Free Stock Analysis Report Communications Sales & Leasing,Inc. While American Asset Trust and Communications Sales & Leasing have expected long-term growth rates of 6.1% and 7.5%, respectively, Liberty Property Trust has expected long-term growth rate of 5%. | Stocks to Consider Some better-ranked stocks in the REIT space are American Asset Trust, Inc AAT , Communications Sales & Leasing, Inc. UNIT and Liberty Property Trust LPT . Click to get this free report Regency Centers Corporation (REG): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Liberty Property Trust (LPT): Free Stock Analysis Report Communications Sales & Leasing,Inc. Specifically, during he second quarter, the company sold one wholly owned property and one co-investment property, for a gross price of $25.1 million, Regency's share being $7.1 million. | Stocks to Consider Some better-ranked stocks in the REIT space are American Asset Trust, Inc AAT , Communications Sales & Leasing, Inc. UNIT and Liberty Property Trust LPT . Click to get this free report Regency Centers Corporation (REG): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Liberty Property Trust (LPT): Free Stock Analysis Report Communications Sales & Leasing,Inc. Regency Centers CorporationREG has been making strategic acquisitions to drive the company's long-term growth. |
21082.0 | 2017-08-16 00:00:00 UTC | American Assets Trust Inc (AAT) Chairman, CEO & President Ernest S Rady Bought $1. ... | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-chairman-ceo-president-ernest-s-rady-bought-1-2017-08-16 | nan | nan | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 44,542 shares of AAT on 08/16/2017 at an average price of $40.48 a share. The total cost of this purchase was $1.8 million.
American Assets Trust Inc is a self-administered real estate investment trust based in the United States. The company mainly invests in, operates, and develops retail, office, residential, and mixed-use properties in California, Oregon, and Hawaii. American Assets Trust Inc has a market cap of $1.92 billion; its shares were traded at around $40.69 with a P/E ratio of 60.71 and P/S ratio of 8.57. The dividend yield of American Assets Trust Inc stocks is 2.50%. American Assets Trust Inc had annual average EBITDA growth of 3.30% over the past five years.
CEO Recent Trades:
Chairman, CEO & President, 10% Owner Ernest S Rady bought 44,542 shares of AAT stock on 08/16/2017 at the average price of $40.48. The price of the stock has increased by 0.52% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 63,887 shares of AAT stock on 08/11/2017 at the average price of $40.03. The price of the stock has increased by 1.65% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 52,778 shares of AAT stock on 08/09/2017 at the average price of $40.17. The price of the stock has increased by 1.29% since.
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.About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .
This article first appeared on GuruFocus .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Chairman, CEO & President, 10% Owner Ernest S Rady bought 63,887 shares of AAT stock on 08/11/2017 at the average price of $40.03. Chairman, CEO & President, 10% Owner Ernest S Rady bought 52,778 shares of AAT stock on 08/09/2017 at the average price of $40.17. Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 44,542 shares of AAT on 08/16/2017 at an average price of $40.48 a share. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 44,542 shares of AAT on 08/16/2017 at an average price of $40.48 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 44,542 shares of AAT stock on 08/16/2017 at the average price of $40.48. Chairman, CEO & President, 10% Owner Ernest S Rady bought 63,887 shares of AAT stock on 08/11/2017 at the average price of $40.03. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 44,542 shares of AAT on 08/16/2017 at an average price of $40.48 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 44,542 shares of AAT stock on 08/16/2017 at the average price of $40.48. Chairman, CEO & President, 10% Owner Ernest S Rady bought 63,887 shares of AAT stock on 08/11/2017 at the average price of $40.03. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 44,542 shares of AAT on 08/16/2017 at an average price of $40.48 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 44,542 shares of AAT stock on 08/16/2017 at the average price of $40.48. Chairman, CEO & President, 10% Owner Ernest S Rady bought 63,887 shares of AAT stock on 08/11/2017 at the average price of $40.03. |
21083.0 | 2017-08-16 00:00:00 UTC | Simon Property (SPG) to Grow on Portfolio Revamp Efforts | AAT | https://www.nasdaq.com/articles/simon-property-spg-to-grow-on-portfolio-revamp-efforts-2017-08-16 | nan | nan | Simon Property Group 's SPG constant efforts to enhance its portfolio through transformative redevelopments and acquisitions were reflected in its second quarter earnings. The company exited the quarter with various redevelopment and expansion projects in progress at 25 properties across the U.S. and Canada and its share of costs was around $1.3 billion.
The company raised its full-year 2017 FFO per share guidance and projects it to be in the range of $11.14-$11.22. This was mainly driven by improved property performance and growth in revenues.
The company has been actively restructuring its portfolio and is aiming at strategic acquisitions. It recently opened the Norfolk Premium Outlets in Norfolk, VA and Genting Highlands Premium Outlets, its second Premium Outlet Center in Malaysia. The move marks the company's effort to enhance its portfolio with premium properties in vibrant locations.
The company's focus on global expansion augurs well for long-term growth. Its ownership stake in Klépierre gives it access to premium retail assets in the high barrier-to-entry markets of Europe. We believe this geographical diversification cushions Simon Property from market volatility and helps it post a decent performance.
As noted above, Simon Property has an active redevelopment and expansion pipeline, comprising high-end projects, on national and international levels. This increases operational risks, exposing the company to escalating construction costs, entitlement delays and lease-up risks.
Such ventures and initiatives come at a point when mall traffic has been shrinking due to a shift in shopping patterns, with online shopping taking precedence over in-store purchase. As a result, demand for retail real estate space has been diminishing, of late, as changing shopping patterns are compelling retailers to reconsider their footprint, and eventually opt for store closures or file bankruptcies.
While Simon Property has been striving to counter the pressure through various initiatives, the implementation of such measures requires a decent upfront cost. This, in turn, will limit any robust growth in the company's near-term profit margins.
Moreover, the stock has lost 11.4% year to date, underperforming 1.7% growth recorded by the industry it belongs to. The stock currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
A few better-ranked stocks in the REIT space include American Asset Trust, Inc. AAT , Regency Centers Corp. REG and Liberty Property Trust LPT . All three stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. .
While American Asset Trust and Regency Centers have expected long-term growth rates of 5.9% and 7.7% respectively, Liberty Property Trust has expected long-term growth rate of 6%.
Note: All EPS numbers presented in this write up represent funds from operations ("FFO") per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
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Simon Property Group, Inc. (SPG): Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Stocks to Consider A few better-ranked stocks in the REIT space include American Asset Trust, Inc. AAT , Regency Centers Corp. REG and Liberty Property Trust LPT . Click to get this free report Simon Property Group, Inc. (SPG): Free Stock Analysis Report Regency Centers Corporation (REG): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Liberty Property Trust (LPT): Free Stock Analysis Report To read this article on Zacks.com click here. Simon Property Group 's SPG constant efforts to enhance its portfolio through transformative redevelopments and acquisitions were reflected in its second quarter earnings. | Stocks to Consider A few better-ranked stocks in the REIT space include American Asset Trust, Inc. AAT , Regency Centers Corp. REG and Liberty Property Trust LPT . Click to get this free report Simon Property Group, Inc. (SPG): Free Stock Analysis Report Regency Centers Corporation (REG): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Liberty Property Trust (LPT): Free Stock Analysis Report To read this article on Zacks.com click here. While American Asset Trust and Regency Centers have expected long-term growth rates of 5.9% and 7.7% respectively, Liberty Property Trust has expected long-term growth rate of 6%. | Stocks to Consider A few better-ranked stocks in the REIT space include American Asset Trust, Inc. AAT , Regency Centers Corp. REG and Liberty Property Trust LPT . Click to get this free report Simon Property Group, Inc. (SPG): Free Stock Analysis Report Regency Centers Corporation (REG): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Liberty Property Trust (LPT): Free Stock Analysis Report To read this article on Zacks.com click here. While American Asset Trust and Regency Centers have expected long-term growth rates of 5.9% and 7.7% respectively, Liberty Property Trust has expected long-term growth rate of 6%. | Stocks to Consider A few better-ranked stocks in the REIT space include American Asset Trust, Inc. AAT , Regency Centers Corp. REG and Liberty Property Trust LPT . Click to get this free report Simon Property Group, Inc. (SPG): Free Stock Analysis Report Regency Centers Corporation (REG): Free Stock Analysis Report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Liberty Property Trust (LPT): Free Stock Analysis Report To read this article on Zacks.com click here. The company exited the quarter with various redevelopment and expansion projects in progress at 25 properties across the U.S. and Canada and its share of costs was around $1.3 billion. |
21084.0 | 2017-08-11 00:00:00 UTC | American Assets Trust Inc (AAT) Chairman, CEO & President Ernest S Rady Bought $2. ... | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-chairman-ceo-president-ernest-s-rady-bought-2-2017-08-11 | nan | nan | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 63,887 shares of AAT on 08/11/2017 at an average price of $40.03 a share. The total cost of this purchase was $2.6 million.
American Assets Trust Inc is a self-administered real estate investment trust based in the United States. The company mainly invests in, operates, and develops retail, office, residential, and mixed-use properties in California, Oregon, and Hawaii. American Assets Trust Inc has a market cap of $1.87 billion; its shares were traded at around $39.77 with a P/E ratio of 59.36 and P/S ratio of 8.34. The dividend yield of American Assets Trust Inc stocks is 2.57%. American Assets Trust Inc had annual average EBITDA growth of 3.30% over the past five years.
CEO Recent Trades:
Chairman, CEO & President, 10% Owner Ernest S Rady bought 63,887 shares of AAT stock on 08/11/2017 at the average price of $40.03. The price of the stock has decreased by 0.65% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 52,778 shares of AAT stock on 08/09/2017 at the average price of $40.17. The price of the stock has decreased by 1% since.
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Warning! GuruFocus has detected 6 Warning Signs with GLDD. Click here to check it out.
GLDD 15-Year Financial Data
The intrinsic value of GLDD
Peter Lynch Chart of GLDD
About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .
This article first appeared on GuruFocus .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Chairman, CEO & President, 10% Owner Ernest S Rady bought 52,778 shares of AAT stock on 08/09/2017 at the average price of $40.17. Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 63,887 shares of AAT on 08/11/2017 at an average price of $40.03 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 63,887 shares of AAT stock on 08/11/2017 at the average price of $40.03. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 63,887 shares of AAT on 08/11/2017 at an average price of $40.03 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 63,887 shares of AAT stock on 08/11/2017 at the average price of $40.03. Chairman, CEO & President, 10% Owner Ernest S Rady bought 52,778 shares of AAT stock on 08/09/2017 at the average price of $40.17. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 63,887 shares of AAT on 08/11/2017 at an average price of $40.03 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 63,887 shares of AAT stock on 08/11/2017 at the average price of $40.03. Chairman, CEO & President, 10% Owner Ernest S Rady bought 52,778 shares of AAT stock on 08/09/2017 at the average price of $40.17. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 63,887 shares of AAT on 08/11/2017 at an average price of $40.03 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 63,887 shares of AAT stock on 08/11/2017 at the average price of $40.03. Chairman, CEO & President, 10% Owner Ernest S Rady bought 52,778 shares of AAT stock on 08/09/2017 at the average price of $40.17. |
21085.0 | 2017-08-09 00:00:00 UTC | American Assets Trust Inc (AAT) Chairman, CEO & President Ernest S Rady Bought $2. ... | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-chairman-ceo-president-ernest-s-rady-bought-2-2017-08-09 | nan | nan | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 52,778 shares of AAT on 08/09/2017 at an average price of $40.17 a share. The total cost of this purchase was $2.1 million.
American Assets Trust Inc is a self-administered real estate investment trust based in the United States. The company mainly invests in, operates, and develops retail, office, residential, and mixed-use properties in California, Oregon, and Hawaii. American Assets Trust Inc has a market cap of $1.89 billion; its shares were traded at around $40.12 with a P/E ratio of 59.89 and P/S ratio of 8.41. The dividend yield of American Assets Trust Inc stocks is 2.57%. American Assets Trust Inc had annual average EBITDA growth of 3.30% over the past five years.
CEO Recent Trades:
Chairman, CEO & President, 10% Owner Ernest S Rady bought 52,778 shares of AAT stock on 08/09/2017 at the average price of $40.17. The price of the stock has decreased by 0.12% since.
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Warning! GuruFocus has detected 4 Warning Signs with GE. Click here to check it out.
GE 15-Year Financial Data
The intrinsic value of GE
Peter Lynch Chart of GE
About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .
This article first appeared on GuruFocus .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 52,778 shares of AAT on 08/09/2017 at an average price of $40.17 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 52,778 shares of AAT stock on 08/09/2017 at the average price of $40.17. The company mainly invests in, operates, and develops retail, office, residential, and mixed-use properties in California, Oregon, and Hawaii. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 52,778 shares of AAT on 08/09/2017 at an average price of $40.17 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 52,778 shares of AAT stock on 08/09/2017 at the average price of $40.17. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 52,778 shares of AAT on 08/09/2017 at an average price of $40.17 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 52,778 shares of AAT stock on 08/09/2017 at the average price of $40.17. GE 15-Year Financial Data The intrinsic value of GE Peter Lynch Chart of GE About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 52,778 shares of AAT on 08/09/2017 at an average price of $40.17 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 52,778 shares of AAT stock on 08/09/2017 at the average price of $40.17. American Assets Trust Inc has a market cap of $1.89 billion; its shares were traded at around $40.12 with a P/E ratio of 59.89 and P/S ratio of 8.41. |
21086.0 | 2017-06-21 00:00:00 UTC | American Assets Trust, Inc (AAT) and Tangoe Inc (TNGO) Lead 18 Notable Investor Filings | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-and-tangoe-inc-tngo-lead-18-notable-investor-filings-2017-06 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
There were 18 notable investor filings today. American Assets Trust, Inc. (NYSE:AAT ) is the largest company of interest.
When a person or group of persons acquires beneficial ownership of more than 5% of a company's equity securities, they are required to file a Schedule 13D or 13G with the SEC.
Investors that acquire 10% or more of a company's shares, or that gain a board seat, are considered insiders by the SEC and are subject to stricter insider trading filing requirements.
New Activist Investor 13D Filings
Investors that acquire more than 5% of the shares of a company and intend to influence management are considered activist investors and must file a 13D.
magicJack VocalTec Ltd. (NASDAQ: CALL ) - Twinleaf Management, LLC has filed a new SC 13D, reporting a 5.00% ownership stake in magicJack VocalTec.
New Passive Investor 13G Filings
Investors that acquire more than 5% of the shares of a company but have no intention of influencing management are considered passive investors and must file a 13G.
Century Aluminum Co. (NASDAQ: CENX ) - INTEGRATED CORE STRATEGIES (US) LLC has filed a new SC 13G, reporting a 5.80% ownership stake in Century Aluminum.
Amended Activist Investor Filings
Tangoe, Inc. (NASDAQ: TNGO ) - Vector Capital IV, L.P. has filed an amended Schedule 13D/A, reporting a 0.00% ownership stake in Tangoe. This is a decrease of 100.00% from their previous filing.
RLJ Entertainment, Inc. (NASDAQ: RLJE ) - AMC Networks Inc. has filed an amended Schedule 13D/A, reporting a 64.30% ownership stake in RLJ Entertainment. This is a decrease of 19.42% from their previous filing.
Peregrine Pharmaceuticals, Inc. (NASDAQ: PPHM ) - Ronin Capital, LLC has filed an amended Schedule 13D/A, reporting a 7.80% ownership stake in Peregrine Pharmaceuticals. This is a decrease of 3.70% from their previous filing.
Blue Bird Corporation (NASDAQ: BLBD ) - Coliseum Capital Management, LLC has filed an amended Schedule 13D/A, reporting a 7.70% ownership stake in Blue Bird.
HC2 Holdings, Inc. (NYSEMKT: HCHC ) - FALCONE PHILIP has filed an amended Schedule 13D/A, reporting a 13.50% ownership stake in HC2 Holdings. This is a decrease of 2.17% from their previous filing.
Tabula Rasa HealthCare, Inc. (NASDAQ: TRHC ) - Knowlton Calvin H has filed an amended Schedule 13D/A, reporting a 6.20% ownership stake in Tabula Rasa HealthCare. This is a decrease of 23.46% from their previous filing.
CSI Compressco LP (NASDAQ: CCLP ) - Tetra Technologies Inc has filed an amended Schedule 13D/A, reporting a 41.55% ownership stake in CSI Compressco.
StemCells, Inc. (NASDAQ: STEM ) - Shoham Moshe has filed an amended Schedule 13D/A, reporting a 7.50% ownership stake in StemCells. This is a decrease of 17.76% from their previous filing.
StemCells, Inc. (NASDAQ: STEM ) - Gadot Harel has filed an amended Schedule 13D/A, reporting a 11.09% ownership stake in StemCells. This is an increase of 8.62% from their previous filing.
StemCells, Inc. (NASDAQ: STEM ) - Bornstein Yoseph has filed an amended Schedule 13D/A, reporting a 15.94% ownership stake in StemCells. This is a decrease of 18.13% from their previous filing.
StemCells, Inc. (NASDAQ: STEM ) - Berkson Sandra has filed an amended Schedule 13D/A, reporting a 12.94% ownership stake in StemCells.
RLJ Entertainment, Inc. (NASDAQ: RLJE ) - RLJ SPAC Acquisition, LLC has filed an amended Schedule 13D/A, reporting a 60.24% ownership stake in RLJ Entertainment.
Iteris, Inc. (NASDAQ: ITI ) - RELM WIRELESS CORP has filed an amended Schedule 13D/A, reporting a 6.50% ownership stake in Iteris. This is a decrease of 9.72% from their previous filing.
Upland Software, Inc. (NASDAQ: UPLD ) - Austin Ventures X Lp has filed an amended Schedule 13D/A, reporting a 6.50% ownership stake in Upland Software.
American Assets Trust Inc (NYSE: AAT ) - American Assets Trust, Inc. has filed an amended Schedule 13D/A, reporting a 11.30% ownership stake in American Assets Trust.
Amended Passive Investor Filings
StemCells, Inc. (NASDAQ: STEM ) - Lewkowicz Leon has filed an amended Schedule 13D/A, reporting a 9.30% ownership stake in StemCells. This is a decrease of 21.59% from their previous filing.
Fintel provides advanced investor tools for data driven investors. See all new activist filings at Fintel.io/activists and new insider purchases at Fintel.io/insiders .
The post American Assets Trust, Inc (AAT) and Tangoe Inc (TNGO) Lead 18 Notable Investor Filings appeared first on InvestorPlace .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | American Assets Trust, Inc. (NYSE:AAT ) is the largest company of interest. The post American Assets Trust, Inc (AAT) and Tangoe Inc (TNGO) Lead 18 Notable Investor Filings appeared first on InvestorPlace . American Assets Trust Inc (NYSE: AAT ) - American Assets Trust, Inc. has filed an amended Schedule 13D/A, reporting a 11.30% ownership stake in American Assets Trust. | American Assets Trust Inc (NYSE: AAT ) - American Assets Trust, Inc. has filed an amended Schedule 13D/A, reporting a 11.30% ownership stake in American Assets Trust. American Assets Trust, Inc. (NYSE:AAT ) is the largest company of interest. The post American Assets Trust, Inc (AAT) and Tangoe Inc (TNGO) Lead 18 Notable Investor Filings appeared first on InvestorPlace . | American Assets Trust Inc (NYSE: AAT ) - American Assets Trust, Inc. has filed an amended Schedule 13D/A, reporting a 11.30% ownership stake in American Assets Trust. American Assets Trust, Inc. (NYSE:AAT ) is the largest company of interest. The post American Assets Trust, Inc (AAT) and Tangoe Inc (TNGO) Lead 18 Notable Investor Filings appeared first on InvestorPlace . | The post American Assets Trust, Inc (AAT) and Tangoe Inc (TNGO) Lead 18 Notable Investor Filings appeared first on InvestorPlace . American Assets Trust, Inc. (NYSE:AAT ) is the largest company of interest. American Assets Trust Inc (NYSE: AAT ) - American Assets Trust, Inc. has filed an amended Schedule 13D/A, reporting a 11.30% ownership stake in American Assets Trust. |
21087.0 | 2017-06-14 00:00:00 UTC | American Assets Trust Inc (AAT) Chairman, CEO & President Ernest S Rady Bought $1. ... | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-chairman-ceo-president-ernest-s-rady-bought-1-2017-06-14 | nan | nan | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 37,738 shares of AAT on 06/14/2017 at an average price of $40.84 a share. The total cost of this purchase was $1.5 million.
American Assets Trust Inc is a full service, vertically integrated and self-administered real estate investment trust. The Company owns, operates, acquires and develops retail, office, multifamily and mixed-use properties. American Assets Trust Inc has a market cap of $1.92 billion; its shares were traded at around $40.82 with a P/E ratio of 56.68 and P/S ratio of 8.69. The dividend yield of American Assets Trust Inc stocks is 2.52%. American Assets Trust Inc had annual average EBITDA growth of 3.30% over the past five years.
CEO Recent Trades:
Chairman, CEO & President, 10% Owner Ernest S Rady bought 37,738 shares of AAT stock on 06/14/2017 at the average price of $40.84. The price of the stock has decreased by 0.05% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 42,950 shares of AAT stock on 06/09/2017 at the average price of $40.25. The price of the stock has increased by 1.42% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 71,110 shares of AAT stock on 06/06/2017 at the average price of $39.73. The price of the stock has increased by 2.74% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 31,200 shares of AAT stock on 05/31/2017 at the average price of $39.11. The price of the stock has increased by 4.37% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 32,684 shares of AAT stock on 05/26/2017 at the average price of $39.5. The price of the stock has increased by 3.34% since.
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.About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .
This article first appeared on GuruFocus .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Chairman, CEO & President, 10% Owner Ernest S Rady bought 42,950 shares of AAT stock on 06/09/2017 at the average price of $40.25. Chairman, CEO & President, 10% Owner Ernest S Rady bought 71,110 shares of AAT stock on 06/06/2017 at the average price of $39.73. Chairman, CEO & President, 10% Owner Ernest S Rady bought 31,200 shares of AAT stock on 05/31/2017 at the average price of $39.11. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 37,738 shares of AAT on 06/14/2017 at an average price of $40.84 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 37,738 shares of AAT stock on 06/14/2017 at the average price of $40.84. Chairman, CEO & President, 10% Owner Ernest S Rady bought 42,950 shares of AAT stock on 06/09/2017 at the average price of $40.25. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 37,738 shares of AAT on 06/14/2017 at an average price of $40.84 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 37,738 shares of AAT stock on 06/14/2017 at the average price of $40.84. Chairman, CEO & President, 10% Owner Ernest S Rady bought 42,950 shares of AAT stock on 06/09/2017 at the average price of $40.25. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 37,738 shares of AAT on 06/14/2017 at an average price of $40.84 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 37,738 shares of AAT stock on 06/14/2017 at the average price of $40.84. Chairman, CEO & President, 10% Owner Ernest S Rady bought 42,950 shares of AAT stock on 06/09/2017 at the average price of $40.25. |
21088.0 | 2017-06-12 00:00:00 UTC | American Assets Trust, Inc. (AAT) Ex-Dividend Date Scheduled for June 13, 2017 | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-ex-dividend-date-scheduled-june-13-2017-2017-06-12 | nan | nan | American Assets Trust, Inc. ( AAT ) will begin trading ex-dividend on June 13, 2017. A cash dividend payment of $0.26 per share is scheduled to be paid on June 29, 2017. Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. This marks the 3rd quarter that AAT has paid the same dividend. At the current stock price of $40.52, the dividend yield is 2.57%.
The previous trading day's last sale of AAT was $40.52, representing a -12.63% decrease from the 52 week high of $46.38 and a 7.94% increase over the 52 week low of $37.54.
AAT is a part of the Consumer Services sector, which includes companies such as American Tower Corporation (REIT) ( AMT ) and Simon Property Group, Inc. ( SPG ). AAT's current earnings per share, an indicator of a company's profitability, is $.71. Zacks Investment Research reports AAT's forecasted earnings growth in 2017 as 7.3%, compared to an industry average of 1.7%.
For more information on the declaration, record and payment dates, visit the AAT Dividend History page. Our Dividend Calendar has the full list of stocks that have an ex-dividend today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AAT is a part of the Consumer Services sector, which includes companies such as American Tower Corporation (REIT) ( AMT ) and Simon Property Group, Inc. ( SPG ). Zacks Investment Research reports AAT's forecasted earnings growth in 2017 as 7.3%, compared to an industry average of 1.7%. For more information on the declaration, record and payment dates, visit the AAT Dividend History page. | AAT's current earnings per share, an indicator of a company's profitability, is $.71. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. American Assets Trust, Inc. ( AAT ) will begin trading ex-dividend on June 13, 2017. | Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. This marks the 3rd quarter that AAT has paid the same dividend. For more information on the declaration, record and payment dates, visit the AAT Dividend History page. | Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. American Assets Trust, Inc. ( AAT ) will begin trading ex-dividend on June 13, 2017. This marks the 3rd quarter that AAT has paid the same dividend. |
21089.0 | 2017-06-09 00:00:00 UTC | Ex-Dividend Reminder: Banc Of California, Berkley and American Assets Trust | AAT | https://www.nasdaq.com/articles/ex-dividend-reminder-banc-california-berkley-and-american-assets-trust-2017-06-09 | nan | nan | Looking at the universe of stocks we cover at Dividend Channel , on 6/13/17, Banc Of California Inc (Symbol: BANC), Berkley Corp (Symbol: WRB), and American Assets Trust Inc (Symbol: AAT) will all trade ex-dividend for their respective upcoming dividends. Banc Of California Inc will pay its quarterly dividend of $0.13 on 7/3/17, Berkley Corp will pay its quarterly dividend of $0.14 on 7/5/17, and American Assets Trust Inc will pay its quarterly dividend of $0.26 on 6/29/17. As a percentage of BANC's recent stock price of $22.40, this dividend works out to approximately 0.58%, so look for shares of Banc Of California Inc to trade 0.58% lower - all else being equal - when BANC shares open for trading on 6/13/17. Similarly, investors should look for WRB to open 0.21% lower in price and for AAT to open 0.65% lower, all else being equal.
Below are dividend history charts for BANC, WRB, and AAT, showing historical dividends prior to the most recent ones declared.
Banc Of California Inc (Symbol: BANC) :
Berkley Corp (Symbol: WRB) :
American Assets Trust Inc (Symbol: AAT) :
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 2.32% for Banc Of California Inc, 0.82% for Berkley Corp, and 2.61% for American Assets Trust Inc.
In Friday trading, Banc Of California Inc shares are currently up about 1.1%, Berkley Corp shares are trading flat, and American Assets Trust Inc shares are down about 0.4% on the day.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Looking at the universe of stocks we cover at Dividend Channel , on 6/13/17, Banc Of California Inc (Symbol: BANC), Berkley Corp (Symbol: WRB), and American Assets Trust Inc (Symbol: AAT) will all trade ex-dividend for their respective upcoming dividends. Similarly, investors should look for WRB to open 0.21% lower in price and for AAT to open 0.65% lower, all else being equal. Below are dividend history charts for BANC, WRB, and AAT, showing historical dividends prior to the most recent ones declared. | Looking at the universe of stocks we cover at Dividend Channel , on 6/13/17, Banc Of California Inc (Symbol: BANC), Berkley Corp (Symbol: WRB), and American Assets Trust Inc (Symbol: AAT) will all trade ex-dividend for their respective upcoming dividends. Banc Of California Inc (Symbol: BANC) : Berkley Corp (Symbol: WRB) : American Assets Trust Inc (Symbol: AAT) : In general, dividends are not always predictable, following the ups and downs of company profits over time. Similarly, investors should look for WRB to open 0.21% lower in price and for AAT to open 0.65% lower, all else being equal. | Looking at the universe of stocks we cover at Dividend Channel , on 6/13/17, Banc Of California Inc (Symbol: BANC), Berkley Corp (Symbol: WRB), and American Assets Trust Inc (Symbol: AAT) will all trade ex-dividend for their respective upcoming dividends. Banc Of California Inc (Symbol: BANC) : Berkley Corp (Symbol: WRB) : American Assets Trust Inc (Symbol: AAT) : In general, dividends are not always predictable, following the ups and downs of company profits over time. Similarly, investors should look for WRB to open 0.21% lower in price and for AAT to open 0.65% lower, all else being equal. | Looking at the universe of stocks we cover at Dividend Channel , on 6/13/17, Banc Of California Inc (Symbol: BANC), Berkley Corp (Symbol: WRB), and American Assets Trust Inc (Symbol: AAT) will all trade ex-dividend for their respective upcoming dividends. Similarly, investors should look for WRB to open 0.21% lower in price and for AAT to open 0.65% lower, all else being equal. Below are dividend history charts for BANC, WRB, and AAT, showing historical dividends prior to the most recent ones declared. |
21090.0 | 2017-06-09 00:00:00 UTC | Insiders Roundup: Medley Capital, LHC Group | AAT | https://www.nasdaq.com/articles/insiders-roundup-medley-capital-lhc-group-2017-06-09 | nan | nan | The GuruFocus All-in-One Screener can be used to find insider trades from the past week. Under the Insiders tab, change the settings for All Insider Buying to "$200,000+," the duration to "June 2017" and All Insider Sales to "$5,000,000+."
According to the above filters, the following are trades from company insiders this week.
Medley Capital Corp. BDC ( MCC ) CEO Brook Taube and Director Seth Taube bought 1,169,802 shares for $6.08 per share on June 7. Since then, the stock price has increased to $6.13.
It is a close-ended management investment company. Its investment objective is to generate current income and capital appreciation by lending directly to privately held middle market companies.
The company has an institutional ownership of 33.09% and insider ownership of 0.53%.
Over the last 12 months, the stock price has dropped by 6% and is now trading with a price-earnings (P/E) ratio of 61.30. The price is 23.95% below its 52-week high and 3.03% is above its 52-week low.
Liberty Interactive Corp., director and 10% owner of LendingTree Inc. ( TREE ), bought 450,000 shares for $170.70 per share on June 6. Since then, the stock price has increased to $170.85.
It is an online lender exchange that connects consumers with lenders and provides online tools to aid consumers in their financial divisions. It provides services such as mortgages, refinance loans, home equity loans and among others.
The company has an institutional ownership of 61.93% and insider ownership of 7.97%.
Over the last 12 months, the stock price has risen by 99% and is now trading with a P/E ratio of 76.94. The price is 1.92% below its 52-week high and 139.49% above its 52-week low.
American Assets Trust Inc. ( AAT ) Chairman, CEO, President and 10% owner Ernest S. Rady bought 71,110 shares for $39.73 per share on June 6. Since then, the stock price has increased to $40.05.
It is a full service, vertically integrated and self-administered real estate investment trust. The company owns, operates, acquires and develops retail, office, multifamily and mixed-use properties.
The company has an institutional ownership of 86.88% and insider ownership of 1.25%.
Over the last 12 months, the stock price has dropped by 3% and is now trading with a price-book (P/B) ratio of 2.21. The price is 13.65% below its 52-week high and 6.69% above its 52-week low.
Most importantsalesof the week
The Cooper Companies Inc. ( COO ) Executive Vice President, Secretary and Chief Governance Officer Carol R. Kaufman sold 44,092 shares for $242.81 per share on June 8. Since then, the stock price has dropped to $241.76.
It is a medical device company. Through its subsidiaries it manufactures products for contact lens wearers and supplies women's health clinicians with products and treatment options to improve the delivery of health care to women.
The company has an institutional ownership of 79.44% and insider ownership of 1.00%.
Over the last 12 months, the stock price has risen by 48% and is now trading with a price-book (P/B) ratio of 4.04. The price is 0.87% below its 52-week high and 52.31% above its 52-week low.
Director Vijay K. Lathi of iRhythm Technologies Inc. ( IRTC ) sold 430,624 shares for $37.59 per share on June 8. Since then, the stock price has risen by $38.00.
It is a commercial-stage digital health care company redefining the way cardiac arrhythmias are clinically diagnosed by combining wearable biosensing technology with cloud-based data analytics and machine-learning capabilities.
The company has an institutional ownership of 38.34% and insider ownership of 0.59%.
Over the last 12 months, the stock price has risen by 46% and is now trading with a P/B ratio of 9.42. The price is 6.13% below its 52-week high and 71.48% above its 52-week low.
GMS Inc. ( GMS ) 10% owner AEA Investors Fund V-A LP and Chairman and 10% owner Richard K. Mueller sold 3,902,129 shares for $31.68 per share on June 7. Since then, the stock price has decreased to $32.72.
It is a North American-based supplier of building materials. The company principally operates through three product lines: Wallboards, Ceilings and Steel Framings. The majority of the company's revenue is generated by the Wallboard segment.
The company has an institutional ownership of 22.98% and insider ownership of 2.47%.
Over the last 12 months, the stock price has risen by 47% and is now trading with a P/B ratio of 2.71. The price is 11.54% below its 52-week high and 69.71% above its 52-week low.
LHC Group Inc. ( LHCG ) Director Coliseum Capital Management sold 162,524 shares for $62.80 per share on June 7. Since then, the stock price has increased to $65.07.
It provides post-acute health care services to patients through its home nursing agencies, community-based services agencies, hospice agencies and long-term acute care hospitals.
The company has an institutional ownership of 70.60% and insider ownership of 7.87%.
Over the last 12 months, the stock price has risen by 52% and is now trading with a P/E ratio of 30.15. The price is 1.86% below its 52-week high and 103.09% above its 52-week low.
Disclosure: I do not own any shares of any stocks mentioned in this article.
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This article first appeared on GuruFocus .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | American Assets Trust Inc. ( AAT ) Chairman, CEO, President and 10% owner Ernest S. Rady bought 71,110 shares for $39.73 per share on June 6. Its investment objective is to generate current income and capital appreciation by lending directly to privately held middle market companies. The company owns, operates, acquires and develops retail, office, multifamily and mixed-use properties. | American Assets Trust Inc. ( AAT ) Chairman, CEO, President and 10% owner Ernest S. Rady bought 71,110 shares for $39.73 per share on June 6. Medley Capital Corp. BDC ( MCC ) CEO Brook Taube and Director Seth Taube bought 1,169,802 shares for $6.08 per share on June 7. LHC Group Inc. ( LHCG ) Director Coliseum Capital Management sold 162,524 shares for $62.80 per share on June 7. | American Assets Trust Inc. ( AAT ) Chairman, CEO, President and 10% owner Ernest S. Rady bought 71,110 shares for $39.73 per share on June 6. The company has an institutional ownership of 33.09% and insider ownership of 0.53%. The company has an institutional ownership of 61.93% and insider ownership of 7.97%. | American Assets Trust Inc. ( AAT ) Chairman, CEO, President and 10% owner Ernest S. Rady bought 71,110 shares for $39.73 per share on June 6. According to the above filters, the following are trades from company insiders this week. Since then, the stock price has increased to $6.13. |
21091.0 | 2017-06-06 00:00:00 UTC | American Assets Trust Inc (AAT) Chairman, CEO & President Ernest S Rady Bought $2. ... | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-chairman-ceo-president-ernest-s-rady-bought-2-2017-06-06 | nan | nan | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 71,110 shares of AAT on 06/06/2017 at an average price of $39.73 a share. The total cost of this purchase was $2.8 million.
American Assets Trust Inc is a full service, vertically integrated and self-administered real estate investment trust. The Company owns, operates, acquires and develops retail, office, multifamily and mixed-use properties. American Assets Trust Inc has a market cap of $1.86 billion; its shares were traded at around $39.58 with a P/E ratio of 54.98 and P/S ratio of 8.36. The dividend yield of American Assets Trust Inc stocks is 2.59%. American Assets Trust Inc had annual average EBITDA growth of 3.30% over the past five years.
CEO Recent Trades:
Chairman, CEO & President, 10% Owner Ernest S Rady bought 71,110 shares of AAT stock on 06/06/2017 at the average price of $39.73. The price of the stock has decreased by 0.38% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 31,200 shares of AAT stock on 05/31/2017 at the average price of $39.11. The price of the stock has increased by 1.2% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 32,684 shares of AAT stock on 05/26/2017 at the average price of $39.5. The price of the stock has increased by 0.2% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 98,151 shares of AAT stock on 05/24/2017 at the average price of $39.34. The price of the stock has increased by 0.61% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 46,140 shares of AAT stock on 05/19/2017 at the average price of $39.21. The price of the stock has increased by 0.94% since.
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.About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .
This article first appeared on GuruFocus .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Chairman, CEO & President, 10% Owner Ernest S Rady bought 31,200 shares of AAT stock on 05/31/2017 at the average price of $39.11. Chairman, CEO & President, 10% Owner Ernest S Rady bought 32,684 shares of AAT stock on 05/26/2017 at the average price of $39.5. Chairman, CEO & President, 10% Owner Ernest S Rady bought 98,151 shares of AAT stock on 05/24/2017 at the average price of $39.34. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 71,110 shares of AAT on 06/06/2017 at an average price of $39.73 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 71,110 shares of AAT stock on 06/06/2017 at the average price of $39.73. Chairman, CEO & President, 10% Owner Ernest S Rady bought 31,200 shares of AAT stock on 05/31/2017 at the average price of $39.11. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 71,110 shares of AAT on 06/06/2017 at an average price of $39.73 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 71,110 shares of AAT stock on 06/06/2017 at the average price of $39.73. Chairman, CEO & President, 10% Owner Ernest S Rady bought 31,200 shares of AAT stock on 05/31/2017 at the average price of $39.11. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 71,110 shares of AAT on 06/06/2017 at an average price of $39.73 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 71,110 shares of AAT stock on 06/06/2017 at the average price of $39.73. Chairman, CEO & President, 10% Owner Ernest S Rady bought 31,200 shares of AAT stock on 05/31/2017 at the average price of $39.11. |
21092.0 | 2017-05-31 00:00:00 UTC | American Assets Trust Inc (AAT) Chairman, CEO & President Ernest S Rady Bought $1. ... | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-chairman-ceo-president-ernest-s-rady-bought-1-2017-05-31 | nan | nan | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 31,200 shares of AAT on 05/31/2017 at an average price of $39.11 a share. The total cost of this purchase was $1.2 million.
American Assets Trust Inc is a full service, vertically integrated and self-administered real estate investment trust. The Company owns, operates, acquires and develops retail, office, multifamily and mixed-use properties. American Assets Trust Inc has a market cap of $1.84 billion; its shares were traded at around $39.05 with a P/E ratio of 54.24 and P/S ratio of 8.28. The dividend yield of American Assets Trust Inc stocks is 2.61%. American Assets Trust Inc had annual average EBITDA growth of 3.30% over the past five years.
CEO Recent Trades:
Chairman, CEO & President, 10% Owner Ernest S Rady bought 31,200 shares of AAT stock on 05/31/2017 at the average price of $39.11. The price of the stock has decreased by 0.15% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 32,684 shares of AAT stock on 05/26/2017 at the average price of $39.5. The price of the stock has decreased by 1.14% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 98,151 shares of AAT stock on 05/24/2017 at the average price of $39.34. The price of the stock has decreased by 0.74% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 46,140 shares of AAT stock on 05/19/2017 at the average price of $39.21. The price of the stock has decreased by 0.41% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 47,976 shares of AAT stock on 05/17/2017 at the average price of $38.55. The price of the stock has increased by 1.3% since.
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.About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .
This article first appeared on GuruFocus .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Chairman, CEO & President, 10% Owner Ernest S Rady bought 32,684 shares of AAT stock on 05/26/2017 at the average price of $39.5. Chairman, CEO & President, 10% Owner Ernest S Rady bought 98,151 shares of AAT stock on 05/24/2017 at the average price of $39.34. Chairman, CEO & President, 10% Owner Ernest S Rady bought 46,140 shares of AAT stock on 05/19/2017 at the average price of $39.21. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 31,200 shares of AAT on 05/31/2017 at an average price of $39.11 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 31,200 shares of AAT stock on 05/31/2017 at the average price of $39.11. Chairman, CEO & President, 10% Owner Ernest S Rady bought 32,684 shares of AAT stock on 05/26/2017 at the average price of $39.5. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 31,200 shares of AAT on 05/31/2017 at an average price of $39.11 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 31,200 shares of AAT stock on 05/31/2017 at the average price of $39.11. Chairman, CEO & President, 10% Owner Ernest S Rady bought 32,684 shares of AAT stock on 05/26/2017 at the average price of $39.5. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 31,200 shares of AAT on 05/31/2017 at an average price of $39.11 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 31,200 shares of AAT stock on 05/31/2017 at the average price of $39.11. Chairman, CEO & President, 10% Owner Ernest S Rady bought 32,684 shares of AAT stock on 05/26/2017 at the average price of $39.5. |
21093.0 | 2017-05-26 00:00:00 UTC | American Assets Trust Inc (AAT) Chairman, CEO & President Ernest S Rady Bought $1. ... | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-chairman-ceo-president-ernest-s-rady-bought-1-2017-05-26 | nan | nan | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 32,684 shares of AAT on 05/26/2017 at an average price of $39.5 a share. The total cost of this purchase was $1.3 million.
American Assets Trust Inc is a full service, vertically integrated and self-administered real estate investment trust. The Company owns, operates, acquires and develops retail, office, multifamily and mixed-use properties. American Assets Trust Inc has a market cap of $1.86 billion; its shares were traded at around $39.43 with a P/E ratio of 54.77 and P/S ratio of 8.39. The dividend yield of American Assets Trust Inc stocks is 2.58%. American Assets Trust Inc had annual average EBITDA growth of 3.30% over the past five years.
CEO Recent Trades:
Chairman, CEO & President, 10% Owner Ernest S Rady bought 32,684 shares of AAT stock on 05/26/2017 at the average price of $39.5. The price of the stock has decreased by 0.18% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 98,151 shares of AAT stock on 05/24/2017 at the average price of $39.34. The price of the stock has increased by 0.23% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 46,140 shares of AAT stock on 05/19/2017 at the average price of $39.21. The price of the stock has increased by 0.56% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 47,976 shares of AAT stock on 05/17/2017 at the average price of $38.55. The price of the stock has increased by 2.28% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 39,056 shares of AAT stock on 05/15/2017 at the average price of $39.4. The price of the stock has increased by 0.08% since.
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.About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .
This article first appeared on GuruFocus .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Chairman, CEO & President, 10% Owner Ernest S Rady bought 98,151 shares of AAT stock on 05/24/2017 at the average price of $39.34. Chairman, CEO & President, 10% Owner Ernest S Rady bought 46,140 shares of AAT stock on 05/19/2017 at the average price of $39.21. Chairman, CEO & President, 10% Owner Ernest S Rady bought 47,976 shares of AAT stock on 05/17/2017 at the average price of $38.55. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 32,684 shares of AAT on 05/26/2017 at an average price of $39.5 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 32,684 shares of AAT stock on 05/26/2017 at the average price of $39.5. Chairman, CEO & President, 10% Owner Ernest S Rady bought 98,151 shares of AAT stock on 05/24/2017 at the average price of $39.34. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 32,684 shares of AAT on 05/26/2017 at an average price of $39.5 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 32,684 shares of AAT stock on 05/26/2017 at the average price of $39.5. Chairman, CEO & President, 10% Owner Ernest S Rady bought 98,151 shares of AAT stock on 05/24/2017 at the average price of $39.34. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 32,684 shares of AAT on 05/26/2017 at an average price of $39.5 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 32,684 shares of AAT stock on 05/26/2017 at the average price of $39.5. Chairman, CEO & President, 10% Owner Ernest S Rady bought 98,151 shares of AAT stock on 05/24/2017 at the average price of $39.34. |
21094.0 | 2017-05-24 00:00:00 UTC | American Assets Trust Inc (AAT) Chairman, CEO & President Ernest S Rady Bought $3. ... | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-chairman-ceo-president-ernest-s-rady-bought-3-2017-05-24 | nan | nan | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 98,151 shares of AAT on 05/24/2017 at an average price of $39.34 a share. The total cost of this purchase was $3.9 million.
American Assets Trust Inc is a full service, vertically integrated and self-administered real estate investment trust. The Company owns, operates, acquires and develops retail, office, multifamily and mixed-use properties. American Assets Trust Inc has a market cap of $1.87 billion; its shares were traded at around $39.62 with a P/E ratio of 55.03 and P/S ratio of 8.44. The dividend yield of American Assets Trust Inc stocks is 2.58%. American Assets Trust Inc had annual average EBITDA growth of 3.30% over the past five years.
CEO Recent Trades:
Chairman, CEO & President, 10% Owner Ernest S Rady bought 98,151 shares of AAT stock on 05/24/2017 at the average price of $39.34. The price of the stock has increased by 0.71% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 46,140 shares of AAT stock on 05/19/2017 at the average price of $39.21. The price of the stock has increased by 1.05% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 47,976 shares of AAT stock on 05/17/2017 at the average price of $38.55. The price of the stock has increased by 2.78% since.
Chairman, CEO & President, 10% Owner Ernest S Rady bought 39,056 shares of AAT stock on 05/15/2017 at the average price of $39.4. The price of the stock has increased by 0.56% since.
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.About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .
This article first appeared on GuruFocus .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Chairman, CEO & President, 10% Owner Ernest S Rady bought 46,140 shares of AAT stock on 05/19/2017 at the average price of $39.21. Chairman, CEO & President, 10% Owner Ernest S Rady bought 47,976 shares of AAT stock on 05/17/2017 at the average price of $38.55. Chairman, CEO & President, 10% Owner Ernest S Rady bought 39,056 shares of AAT stock on 05/15/2017 at the average price of $39.4. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 98,151 shares of AAT on 05/24/2017 at an average price of $39.34 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 98,151 shares of AAT stock on 05/24/2017 at the average price of $39.34. Chairman, CEO & President, 10% Owner Ernest S Rady bought 46,140 shares of AAT stock on 05/19/2017 at the average price of $39.21. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 98,151 shares of AAT on 05/24/2017 at an average price of $39.34 a share. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 98,151 shares of AAT stock on 05/24/2017 at the average price of $39.34. Chairman, CEO & President, 10% Owner Ernest S Rady bought 46,140 shares of AAT stock on 05/19/2017 at the average price of $39.21. | Chairman, CEO & President of American Assets Trust Inc ( AAT ) Ernest S Rady bought 98,151 shares of AAT on 05/24/2017 at an average price of $39.34 a share. Chairman, CEO & President, 10% Owner Ernest S Rady bought 46,140 shares of AAT stock on 05/19/2017 at the average price of $39.21. CEO Recent Trades: Chairman, CEO & President, 10% Owner Ernest S Rady bought 98,151 shares of AAT stock on 05/24/2017 at the average price of $39.34. |
21095.0 | 2017-05-09 00:00:00 UTC | American Assets Trust Enters Oversold Territory | AAT | https://www.nasdaq.com/articles/american-assets-trust-enters-oversold-territory-2017-05-09 | nan | nan | The DividendRank formula at Dividend Channel ranks a coverage universe of thousands of dividend stocks , according to a proprietary formula designed to identify those stocks that combine two important characteristics - strong fundamentals and a valuation that looks inexpensive. American Assets Trust Inc (Symbol: AAT) presently has an above average rank, in the top 50% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors.
But making American Assets Trust Inc an even more interesting and timely stock to look at, is the fact that in trading on Tuesday, shares of AAT entered into oversold territory, changing hands as low as $40.03 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30. In the case of American Assets Trust Inc, the RSI reading has hit 29.0 - by comparison, the universe of dividend stocks covered by Dividend Channel currently has an average RSI of 52.7. A falling stock price - all else being equal - creates a better opportunity for dividend investors to capture a higher yield. Indeed, AAT's recent annualized dividend of 1.04/share (currently paid in quarterly installments) works out to an annual yield of 2.57% based upon the recent $40.50 share price.
A bullish investor could look at AAT's 29.0 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. Among the fundamental datapoints dividend investors should investigate to decide if they are bullish on AAT is its dividend history. In general, dividends are not always predictable; but, looking at the history chart below can help in judging whether the most recent dividend is likely to continue.
According to the ETF Finder at ETF Channel, AAT makes up 1.03% of the PowerShares S&P SmallCap Financials Portfolio ETF (Symbol: PSCF) which is trading up by about 0.3% on the day Tuesday.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A bullish investor could look at AAT's 29.0 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. American Assets Trust Inc (Symbol: AAT) presently has an above average rank, in the top 50% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors. But making American Assets Trust Inc an even more interesting and timely stock to look at, is the fact that in trading on Tuesday, shares of AAT entered into oversold territory, changing hands as low as $40.03 per share. | American Assets Trust Inc (Symbol: AAT) presently has an above average rank, in the top 50% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors. But making American Assets Trust Inc an even more interesting and timely stock to look at, is the fact that in trading on Tuesday, shares of AAT entered into oversold territory, changing hands as low as $40.03 per share. Indeed, AAT's recent annualized dividend of 1.04/share (currently paid in quarterly installments) works out to an annual yield of 2.57% based upon the recent $40.50 share price. | American Assets Trust Inc (Symbol: AAT) presently has an above average rank, in the top 50% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors. But making American Assets Trust Inc an even more interesting and timely stock to look at, is the fact that in trading on Tuesday, shares of AAT entered into oversold territory, changing hands as low as $40.03 per share. Indeed, AAT's recent annualized dividend of 1.04/share (currently paid in quarterly installments) works out to an annual yield of 2.57% based upon the recent $40.50 share price. | But making American Assets Trust Inc an even more interesting and timely stock to look at, is the fact that in trading on Tuesday, shares of AAT entered into oversold territory, changing hands as low as $40.03 per share. American Assets Trust Inc (Symbol: AAT) presently has an above average rank, in the top 50% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors. Indeed, AAT's recent annualized dividend of 1.04/share (currently paid in quarterly installments) works out to an annual yield of 2.57% based upon the recent $40.50 share price. |
21096.0 | 2017-03-28 00:00:00 UTC | American Assets Trust Inks Deal to Acquire San Diego Asset | AAT | https://www.nasdaq.com/articles/american-assets-trust-inks-deal-to-acquire-san-diego-asset-2017-03-28 | nan | nan | American Assets Trust, Inc.AAT has entered into a deal to acquire the Pacific Ridge Apartments in San Diego, CA, for around $232 million. The move is in sync with the company's strategic expansion efforts. The purchase price will be funded with a combination of cash on hand and funds drawn against its existing credit facility.
The above mentioned 533 unit luxury apartment community, which was completed in 2013, is centrally located in San Diego. It enjoys solid access to public transportation, as well as notable places such as the San Diego International Airport, Zoo, malls, culinary points and universities. This increases the demand for the property as evident from the fact that it is currently around 97% leased.
Notably, American Assets Trust has substantially increased its Net Asset Value since its IPO in 2011, through disciplined accretive acquisitions, increased occupancy and strong same store net operating (NOI) growth.
The company has an experience of over 50 years in acquisition, development and management of premier retail, office, and residential properties in the nation. Its diversified asset base help in mitigating the risks associated with a single property type.
Moreover, the company's assets are located in high-barrier-to-entry markets, mainly in Southern California, Northern California, Oregon, Washington and Hawaii. The solid demographics-high population density and household income in its operating markets offer scope for decent growth. However, strong competition and interest rate hike remain concerns for the company.
Currently, American Assets Trust has a Zacks Rank #3 (Hold). Shares of American Assets Trust have outperformed the Zacks categorized REIT and Equity Trust - Retail industry in the past one year. Shares of the company gained 5.0%, while the industry incurred a loss of 10.4%.
Stocks to Consider
Better-ranked stocks in the REIT space include CoreSite Realty Corporation COR , Piedmont Office Realty Trust, Inc. PDM and Urban Edge Properties UE . All three stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
CoreSite Realty currently has a long-term growth rate of 19.1%.
Piedmont Office Realty's estimates for 2017 moved north by nearly 0.6% to $1.73, over the past 60 days.
The Zacks Consensus Estimate for Urban Edge Properties' funds from operations (FFO) per share for 2017 of $1.37 reflects 7.9% year-over-year growth.
Note: All EPS numbers presented in this write up represent funds from operations ("FFO") per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income .
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American Assets Trust, Inc. (AAT): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | American Assets Trust, Inc.AAT has entered into a deal to acquire the Pacific Ridge Apartments in San Diego, CA, for around $232 million. Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Urban Edge Properties (UE): Free Stock Analysis Report CoreSite Realty Corporation (COR): Free Stock Analysis Report Piedmont Office Realty Trust, Inc. (PDM): Free Stock Analysis Report To read this article on Zacks.com click here. It enjoys solid access to public transportation, as well as notable places such as the San Diego International Airport, Zoo, malls, culinary points and universities. | Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Urban Edge Properties (UE): Free Stock Analysis Report CoreSite Realty Corporation (COR): Free Stock Analysis Report Piedmont Office Realty Trust, Inc. (PDM): Free Stock Analysis Report To read this article on Zacks.com click here. American Assets Trust, Inc.AAT has entered into a deal to acquire the Pacific Ridge Apartments in San Diego, CA, for around $232 million. Stocks to Consider Better-ranked stocks in the REIT space include CoreSite Realty Corporation COR , Piedmont Office Realty Trust, Inc. PDM and Urban Edge Properties UE . | Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Urban Edge Properties (UE): Free Stock Analysis Report CoreSite Realty Corporation (COR): Free Stock Analysis Report Piedmont Office Realty Trust, Inc. (PDM): Free Stock Analysis Report To read this article on Zacks.com click here. American Assets Trust, Inc.AAT has entered into a deal to acquire the Pacific Ridge Apartments in San Diego, CA, for around $232 million. Notably, American Assets Trust has substantially increased its Net Asset Value since its IPO in 2011, through disciplined accretive acquisitions, increased occupancy and strong same store net operating (NOI) growth. | American Assets Trust, Inc.AAT has entered into a deal to acquire the Pacific Ridge Apartments in San Diego, CA, for around $232 million. Click to get this free report American Assets Trust, Inc. (AAT): Free Stock Analysis Report Urban Edge Properties (UE): Free Stock Analysis Report CoreSite Realty Corporation (COR): Free Stock Analysis Report Piedmont Office Realty Trust, Inc. (PDM): Free Stock Analysis Report To read this article on Zacks.com click here. Shares of American Assets Trust have outperformed the Zacks categorized REIT and Equity Trust - Retail industry in the past one year. |
21097.0 | 2017-03-20 00:00:00 UTC | Weekly CEO Buys Highlights | AAT | https://www.nasdaq.com/articles/weekly-ceo-buys-highlights-2017-03-20 | nan | nan | According to GuruFocus' Insider Data, these are the largest CEO buys during the past week. The overall trend of purchases is illustrated in the chart below:
Calavo Growers CEO bought 95,000 shares
Calavo Growers Inc. ( CVGW ) Chairman of the Board and CEO Lecil E. Cole bought 95,000 shares for $56.42 per share on March 13. The stock price has increased by 3.33% since.
Calavo Growers is in the avocado industry and an expanding provider of value-added fresh food. It sells avocados to a group of supermarket chains, wholesalers, food service and other distributors under brand labels as well as private labels. The company has a market cap of $1.02 billion. Its shares traded at $58.30 as of March 17 with a price-earnings (P/E) ratio of 27.63.
Net income totaled $5.2 million for the three months ended Jan. 31.
Vice President - Fresh Operations Michael A. Browne bought 2,000 shares for $55.5 per share on March 9. The stock price has increased by 5.05% since.
American Assets Trust CEO bought 24,434 shares
American Assets Trust Inc. ( AAT ) Chairman, CEO, President and 10% owner Ernest S. Rady bought 24,434 shares for $41.21 per share on March 10. The stock price has increased by 2.72% since.
Rady bought 19,970 shares of American Assets stock for $43.1 per share on March 2; 13,060 shares for $42.98 per share on March 3; 26,060 shares for $42.6 per share on March 7; and 16,623 shares for $41.77 per share on March 8. The stock price has increased by 1.34%.
American Assets is a full service, vertically integrated and self-administered real estate investment trust. It owns, operates, acquires and develops retail, office, multifamily and mixed-use properties. The company has a market cap of $2.72 billion. Its shares traded at $42.33 as of March 17 with a P/E ratio of 58.87.
Net income available to common stockholders was $8.9 million for the three months ended Dec. 31, 2016.
Occidental Petroleum CEO bought 15,000 shares
Occidental Petroleum Corp. ( OXY ) President and CEO Vicki A. Hollub bought 15,000 shares for $62.72 per share on March 13. The stock price has increased by 2.18% since.
Occidental is a multinational organization whose subsidiaries and affiliates operate in the oil and gas, chemical and midstream, marketing and other segments. The company has a market cap of $48.98 billion. Its shares traded at $64.09 per share as of March 17 with a P/E ratio of -85.23.
The company reported a loss of $272 million for the fourth quarter of 2016.
Director Stephen I. Chazen sold 4,000 shares for $66.26 per share on Feb. 23; 4,000 shares for $65.49 per share on March 2; 4,000 shares for $62.97 per share on March 9; and 4,000 shares for $63.27 per share on March 16. The stock price has increased by 1.3% since.
WisdomTree Investments CEO bought 97,971 shares
WisdomTree Investments Inc. ( WETF ) CEO Jonathan L. Steinberg bought 97,971 shares for $9.14 per share on March 16. The stock price has decreased by 1.09% since.
WisdomTree, through its subsidiaries, operates as an ETF sponsor and asset manager. It offers equity ETFs, international hedged equity ETFs, currency ETFs and fixed income ETFs. The company has a market cap of $1.21 billion. As of March 17 its shares traded at $9.04 with a P/E ratio of 47.58.
Net income for the fourth quarter of 2016 was $2.5 million.
The Brink's CEO bought 7,729 shares
The Brink'sCo. ( BCO ) President and CEO Douglas A. Pertz bought 7,729 shares for $52.30 per share on March 15.
Pertz bought 30,000 shares on March 6 for $51.95 per share; 12,271 shares for $52 per share on March 9; and 7,729 shares at a price of $52.3 on March 15. The stock price has increased by 0.86% since.
Brink's, along with its subsidiaries, provides secure transportation, cash management services and other security-related services to banks and financial institutions, retailers, government agencies, mints, jewelers and other commercial operations. The company has a market cap of $2.64 billion. Its shares traded at $52.75 as of March 17 with a P/E ratio of 76.90.
Operating profit for the fourth quarter of 2016 was $58 million.
Executive Vice President and Chief Financial Officer Ronald James Domanico bought 5,000 shares for $52.19 per share on March 7. The stock price has increased by 1.07% since.
Director Peter A. Feld sold 650,000 shares for $51.8 per share on Feb. 23 and 750,000 shares for $52.53 per share on March 6. Feld also sold 150,000 shares for $52.25 per share on March 7. The stock price has increased by 0.96% since.
Controller Thomas Colan sold 966 shares for $52.4 per share on March 7. The stock price has increased by 0.67% since.
Executive Vice President Amit Zukerman sold 10,000 shares for $52.55 per share on March 3. The stock price has increased by 0.38% since.
For the complete list of stocks that bought by their company CEOs, go to: CEO Buys .
Disclosure: I do not own stock in any of the companies mentioned in the article.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | American Assets Trust CEO bought 24,434 shares American Assets Trust Inc. ( AAT ) Chairman, CEO, President and 10% owner Ernest S. Rady bought 24,434 shares for $41.21 per share on March 10. American Assets is a full service, vertically integrated and self-administered real estate investment trust. It owns, operates, acquires and develops retail, office, multifamily and mixed-use properties. | American Assets Trust CEO bought 24,434 shares American Assets Trust Inc. ( AAT ) Chairman, CEO, President and 10% owner Ernest S. Rady bought 24,434 shares for $41.21 per share on March 10. Rady bought 19,970 shares of American Assets stock for $43.1 per share on March 2; 13,060 shares for $42.98 per share on March 3; 26,060 shares for $42.6 per share on March 7; and 16,623 shares for $41.77 per share on March 8. Occidental Petroleum CEO bought 15,000 shares Occidental Petroleum Corp. ( OXY ) President and CEO Vicki A. Hollub bought 15,000 shares for $62.72 per share on March 13. | American Assets Trust CEO bought 24,434 shares American Assets Trust Inc. ( AAT ) Chairman, CEO, President and 10% owner Ernest S. Rady bought 24,434 shares for $41.21 per share on March 10. Rady bought 19,970 shares of American Assets stock for $43.1 per share on March 2; 13,060 shares for $42.98 per share on March 3; 26,060 shares for $42.6 per share on March 7; and 16,623 shares for $41.77 per share on March 8. Director Stephen I. Chazen sold 4,000 shares for $66.26 per share on Feb. 23; 4,000 shares for $65.49 per share on March 2; 4,000 shares for $62.97 per share on March 9; and 4,000 shares for $63.27 per share on March 16. | American Assets Trust CEO bought 24,434 shares American Assets Trust Inc. ( AAT ) Chairman, CEO, President and 10% owner Ernest S. Rady bought 24,434 shares for $41.21 per share on March 10. Pertz bought 30,000 shares on March 6 for $51.95 per share; 12,271 shares for $52 per share on March 9; and 7,729 shares at a price of $52.3 on March 15. For the complete list of stocks that bought by their company CEOs, go to: CEO Buys . |
21098.0 | 2017-03-13 00:00:00 UTC | Weekly CEO Buys Highlights | AAT | https://www.nasdaq.com/articles/weekly-ceo-buys-highlights-2017-03-13 | nan | nan | According to GuruFocus' Insider Data, these are the largest CEO buys during the past week. The overall trend of purchases is illustrated in the chart below:
American Assets Trust CEO bought 80,177 shares
American Assets Trust Inc. ( AAT ) Chairman, CEO, President and 10% owner Ernest S. Rady bought 80,177 shares during the past week.
Rady bought 13,060 shares for $42.98 per share on March 3; 26,060 shares for $42.6 per share on March 7; and 16,623 shares for $41.77 per share on March 8. Rady also purchased 24,434 shares for $41.21 per share on March 10.
American Assets is a full service, vertically integrated and self-administered real estate investment trust. It owns, operates, acquires and develops retail, office, multifamily and mixed-use properties. The company has a market cap of $2.65 billion. As of March 10 its shares traded at $41.18 with a price-earnings (P/E) ratio of 57.27.
Net income available to common stockholders was $8.9 million for the three months ended Dec. 31, 2016.
The Brink's CEO bought 30,000 shares
The Brink's Co. ( BCO ) President and CEO Douglas A. Pertz bought 30,000 shares for $51.95 per share on March 6. The stock price has increased by 1.73% since.
Brink's, along with its subsidiaries, provides secure transportation, cash management services and other security-related services to banks and financial institutions, retailers, government agencies, mints, jewelers and other commercial operations. The company has a market cap of $2.64 billion. As of March 10 its shares traded at $52.85 with a P/E ratio of 77.04.
Revenues for the fourth quarter of 2016 were $804 million compared to $766 million for the prior-year period.
Director Peter A. Feld sold 650,000 shares for $51.8 per share on Feb. 23; 50,000 shares for $52.53 per share on March 6; and 150,000 shares for $52.25 per share on March 7. The stock price of the has increased by 1.15% since.
Executive Vice President and Chief Financial Officer Ronald James Domanico bought 5,000 shares for $52.19 per share on March 7. The stock price has increased by 1.26% since.
Controller Thomas Colan sold 966 shares for $52.4 per share on March 7. The stock price has increased by 0.86% since.
Executive Vice President Amit Zukerman sold 10,000 shares for $52.55 per share on March 3. The stock price has increased by 0.57% since.
SunOpta CEO bought 145,000 shares
SunOpta Inc. ( STKL ) President and CEO David Colo bought 145,000 shares during the past week.
Colo bought 74,000 shares for $6.85 per share on March 6. Colo also purchased 71,000 shares for $7.29 per share on March 7.
SunOpta is engaged in sourcing, processing and packaging of natural, organic and specialty food products. It also produces, distributes and recycles industrial minerals, silica-free abrasives and specialty sands. The company has a market cap of $720.36 million. As of March 10 its shares traded at $7.3 with a P/E ratio of -13.06.
Revenues of $297.5 million for the fourth quarter of 2016 versus $316.4 million in the fourth quarter of 2015, a decrease of 6.0% versus the prior-year period.
Huntington Investment Oaktree, a 10% owner, bought 490,079 shares for $6.9 per share on March 6. The stock price has increased by 5.8% since.
Oaktree Fund GP LLC, a 10% owner, bought 2,509,921 shares for $6.9 per share on March 6. The stock price has increased by 5.8% since.
Huntington Investment Oaktree, a 10% owner, bought 490,079 shares for $6.9 per share on March 6. The stock price has increased by 5.8% since.
Advance Auto Parts CEO bought 6,500 shares
Advance Auto Parts Inc. ( AAP ) President and CEO Thomas Greco bought 6,500 shares for $154.29 per share on March 7. The stock price has decreased by 0.21% since.
Advance Auto is a specialty retailer of automotive aftermarket parts, accessories, batteries and maintenance items mainly operating within the U.S. The company has a market cap of $11.36 billion. As of March 10 its shares traded at $153.97 with a P/E ratio of 24.83.
Total sales for the fourth quarter increased 2.4% to $2.08 billion compared with total sales during the fourth quarter of fiscal 2015 of $2.03 billion.
Cott CEO bought 46,100 shares
Cott Corp. ( COT ) CEO - DS Services Thomas Harrington bought 46,100 shares for $10.99 per share on March 6. The stock price has increased by 11.74% since.
Cott manufactures and sells beverages. It offers products such as carbonated soft drinks, shelf stable juice and juice-based products, clear, flavored waters, energy drinks and shots, sports products, ready-to-drink teas and alcoholic beverages. The company has a market cap of $1.74 billion. As of March 10 its shares traded at $12.28 with a P/E ratio of -20.13.
CEO Jeremy S. G. Fowden bought 9,470 shares for $10.56 per share on March 1. The stock price has increased by 16.29% since.
Director Gregory R. Monahan bought 12,000 shares for $10.68 per share on March 3. The stock price has increased by 14.98% since.
Director Eric Rosenfeld bought 125,000 shares for $10.6 per share on March 1. The stock price has increased by 15.85% since.
For the complete list of stocks that bought by their company CEOs, go to: CEO Buys .
Disclosure: I do not own stock in any of the companies mentioned in the article.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The overall trend of purchases is illustrated in the chart below: American Assets Trust CEO bought 80,177 shares American Assets Trust Inc. ( AAT ) Chairman, CEO, President and 10% owner Ernest S. Rady bought 80,177 shares during the past week. American Assets is a full service, vertically integrated and self-administered real estate investment trust. Advance Auto is a specialty retailer of automotive aftermarket parts, accessories, batteries and maintenance items mainly operating within the U.S. | The overall trend of purchases is illustrated in the chart below: American Assets Trust CEO bought 80,177 shares American Assets Trust Inc. ( AAT ) Chairman, CEO, President and 10% owner Ernest S. Rady bought 80,177 shares during the past week. SunOpta CEO bought 145,000 shares SunOpta Inc. ( STKL ) President and CEO David Colo bought 145,000 shares during the past week. Advance Auto Parts CEO bought 6,500 shares Advance Auto Parts Inc. ( AAP ) President and CEO Thomas Greco bought 6,500 shares for $154.29 per share on March 7. | The overall trend of purchases is illustrated in the chart below: American Assets Trust CEO bought 80,177 shares American Assets Trust Inc. ( AAT ) Chairman, CEO, President and 10% owner Ernest S. Rady bought 80,177 shares during the past week. Rady bought 13,060 shares for $42.98 per share on March 3; 26,060 shares for $42.6 per share on March 7; and 16,623 shares for $41.77 per share on March 8. Director Peter A. Feld sold 650,000 shares for $51.8 per share on Feb. 23; 50,000 shares for $52.53 per share on March 6; and 150,000 shares for $52.25 per share on March 7. | The overall trend of purchases is illustrated in the chart below: American Assets Trust CEO bought 80,177 shares American Assets Trust Inc. ( AAT ) Chairman, CEO, President and 10% owner Ernest S. Rady bought 80,177 shares during the past week. Cott CEO bought 46,100 shares Cott Corp. ( COT ) CEO - DS Services Thomas Harrington bought 46,100 shares for $10.99 per share on March 6. Disclosure: I do not own stock in any of the companies mentioned in the article. |
21099.0 | 2017-03-13 00:00:00 UTC | American Assets Trust, Inc. (AAT) Ex-Dividend Date Scheduled for March 14, 2017 | AAT | https://www.nasdaq.com/articles/american-assets-trust-inc-aat-ex-dividend-date-scheduled-march-14-2017-2017-03-13 | nan | nan | American Assets Trust, Inc. ( AAT ) will begin trading ex-dividend on March 14, 2017. A cash dividend payment of $0.26 per share is scheduled to be paid on March 30, 2017. Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. This represents an 4% increase over prior dividend payment.
The previous trading day's last sale of AAT was $41.18, representing a -11.21% decrease from the 52 week high of $46.38 and a 10.7% increase over the 52 week low of $37.20.
AAT is a part of the Consumer Services sector, which includes companies such as Simon Property Group, Inc. ( SPG ) and American Tower Corporation (REIT) ( AMT ). AAT's current earnings per share, an indicator of a company's profitability, is $.72. Zacks Investment Research reports AAT's forecasted earnings growth in 2017 as 9.19%, compared to an industry average of .3%.
For more information on the declaration, record and payment dates, visit the AAT Dividend History page. Our Dividend Calendar has the full list of stocks that have an ex-dividend today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AAT is a part of the Consumer Services sector, which includes companies such as Simon Property Group, Inc. ( SPG ) and American Tower Corporation (REIT) ( AMT ). Zacks Investment Research reports AAT's forecasted earnings growth in 2017 as 9.19%, compared to an industry average of .3%. For more information on the declaration, record and payment dates, visit the AAT Dividend History page. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. American Assets Trust, Inc. ( AAT ) will begin trading ex-dividend on March 14, 2017. Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. | Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. The previous trading day's last sale of AAT was $41.18, representing a -11.21% decrease from the 52 week high of $46.38 and a 10.7% increase over the 52 week low of $37.20. For more information on the declaration, record and payment dates, visit the AAT Dividend History page. | Shareholders who purchased AAT prior to the ex-dividend date are eligible for the cash dividend payment. American Assets Trust, Inc. ( AAT ) will begin trading ex-dividend on March 14, 2017. The previous trading day's last sale of AAT was $41.18, representing a -11.21% decrease from the 52 week high of $46.38 and a 10.7% increase over the 52 week low of $37.20. |
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