Morgan Stanley analyst Richard Hill has maintained an Underweight rating on American Assets Trust while raising the price target to $24 from $18. The adjustment signals a revised valuation outlook for the real estate investment trust, even as the brokerage advises caution against the stock.

The new price target of $24 represents an increase from the previous $18 target. This change occurs alongside the reaffirmation of the Underweight rating, suggesting that while the stock's intrinsic value may be higher than previously estimated, it still lags behind industry peers or broader market expectations.

American Assets Trust, listed on the NYSE under the ticker AAT, focuses on the acquisition, development, and management of retail, office, and residential properties. The firm's portfolio performance and market conditions are key factors influencing analyst ratings.

The rating and target update provide investors with a revised benchmark for the stock's potential performance. Shareholders should consider the disparity between the raised target and the maintained Underweight stance when evaluating their positions.

American Assets Trust, Inc. will announce its second quarter 2026 earnings after the market closes on July 28, 2026. The announcement will provide insights into the company's financial performance for the quarter, which stakeholders can assess during the subsequent conference call.

Senior management will hold a conference call to discuss the earnings on Wednesday, July 29, 2026, at 8:00 a.m. Pacific Time. Investors can access the call by dialing 1 (833) 816-1162 and requesting to join the American Assets Trust, Inc. Conference Call.

A live on-demand audio webcast of the conference call will be available on the "Investor Relations" section of the company's website at www.americanassetstrust.com . A replay webcast will be accessible approximately one hour after the call concludes.

American Assets Trust, Inc. is a full-service, vertically integrated, and self-administered real estate investment trust (REIT) headquartered in San Diego, California. The company specializes in acquiring, improving, developing, and managing premier office, retail, and residential properties across high-barrier-to-entry markets in the United States.

The company's portfolio includes approximately 4.3 million square feet of office space and 2.4 million rentable square feet of retail space. Additionally, it owns one mixed-use property with 94,000 rentable square feet of retail space and a 369-room all-suite hotel, along with 2,302 multifamily units.