Mizuho analyst Haendel St. Juste lowered the firm’s price target on American Assets Trust (AAT) to $22 from $28 and keeps a Neutral rating on the shares. Shopping center real estate investment trusts posted strong Q4 earnings, supported by robust leasing activity, above-trend leasing spreads and occupancy gains, with incremental near-term earnings visibility from signed versus occupied pipelines, the analyst tells investors in a research note. The firm says the fiscal 2025 guidance outlooks generally met expectations. On whole, it believes the sector appears fairly valued on multiples.
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