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Is American Assets Trust, Inc (AAT) A Good Stock To Buy?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually sold off their positions entirely. At the top of the heap, Ken Griffin’s Citadel Investment Group sold off the biggest investment of all the hedgies studied by Insider Monkey, totaling about $2 million in stock, and Jim Simons’ Renaissance Technologies was right behind this move, as the fund dropped about $1.3 million worth of shares.

Let’s check out hedge fund activity in other stocks similar to American Assets Trust, Inc (NYSE:AAT). These stocks are Pattern Energy Group Inc (NASDAQ:PEGI), Rice Midstream Partners LP(NYSE:RMP), Cott Corporation (USA) (NYSE:COT), and Allegheny Technologies Incorporated (NYSE:ATI). This group of stocks’ market valuations match AAT’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
PEGI 15 164750 -2
RMP 7 125322 3
COT 22 370670 7
ATI 13 183180 -4

As you can see these stocks had an average of 14 funds with bullish positions and the average amount invested in these stocks was $211 million. That figure was $145 million in AAT’s case. Cott Corporation (USA) (NYSE:COT) is the most popular stock in this table. On the other hand Rice Midstream Partners LP (NYSE:RMP) is the least popular one with only seven bullish hedge fund positions. Compared to these stocks American Assets Trust, Inc (NYSE:AAT) is even less popular than RMP. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.

Disclosure: None