The shares of American Assets Trust, Inc (NYSE:AAT) currently has mean rating of 2.14 while 2 analysts have recommended the shares as “BUY”, 2 recommended as “OUTPERFORM” and 3 recommended as “HOLD”. The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for sell.
The company’s mean estimate for sales for the current quarter ending Jun-16 is 72.09 million by 4 analysts. The means estimate of sales for the year ending Dec-16 is 293.19 million by 6 analysts.
The mean price target for the shares of American Assets Trust, Inc (NYSE:AAT) is at 46.25 while the highest price target suggested by the analysts is 49.00 and low price target is 42.00. The mean price target is calculated keeping in view the consensus of 4 brokerage firms.
The average estimate of EPS for the current fiscal quarter for American Assets Trust, Inc (NYSE:AAT) stands at 0.46 while the EPS for the current year is fixed at 1.88 by 7 analysts.
The next one year’s EPS estimate is set at 2.09 by 7 analysts while a year ago the analysts suggested the company’s EPS at 1.88. The analysts also projected the company’s long-term growth at 3.00% for the upcoming five years.
In its latest quarter ended on 31st March 2016, American Assets Trust, Inc (NYSE:AAT) reported earnings of $0.45. In the matter of earnings surprises, the term “Cockroach Effect” is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.
On April 26, 2016 American Assets Trust, Inc (AAT) reported financial results for its first quarter ended March 31, 2016.
Financial Results and Recent Developments
- Funds From Operations increased 5% year-over-year to $0.45 per diluted share for the three months ended March 31, 2016 compared to the same period in 2015
- Net income available to common stockholders of $7.7 million for the three months ended March 31, 2016, or $0.17 per diluted share
- Same-store cash and GAAP NOI increased 7% and 5%, respectively, for the three months ended March 31, 2016 compared to the same period in 2015
- Entered into a new $100 million seven-year unsecured term loan with an interest rate fixed at approximately 3.15% (subject to adjustments based on our consolidated leverage ratio) as a result of an interest rate swap
- Leased approximately 52,100 comparable office square feet at an average cash-basis and GAAP-basis contractual rent increase of 9% and 18%, respectively, during the three months ended March 31, 2016
- Leased approximately 81,100 comparable retail square feet at an average cash-basis and GAAP-basis contractual rent increase of 2% and 9%, respectively, during the three months ended March 31, 2016
During the first quarter of 2016, the company generated funds from operations (“FFO”) for common stockholders of $28.1 million, or $0.45 per diluted share, compared to $26.4 million, or $0.43 per diluted share, for the quarter ended March 31, 2015. The increase in FFO from the corresponding period in 2015 was primarily due to additional operating income from Hassalo on Eighth and growth in same-store net operating income from our existing portfolio.
Net income attributable to common stockholders was $7.7 million, or $0.17 per basic and diluted share for the three months ended March 31, 2016 compared to $8.0 million, or $0.18 per basic and diluted share for the three months ended March 31, 2015. The decrease in net income attributable to common stockholders from the corresponding period in 2015 was primarily due to an increase in depreciation and amortization expense and interest expense during the three months ended March 31, 2016 attributed to the completion of Hassalo on Eighth, which was completed during the third and fourth quarters of 2015.
FFO is a non-GAAP supplemental earnings measure which the company considers meaningful in measuring its operating performance. A reconciliation of FFO to net income is attached to this press release.