American Assets Trust, Inc. (NYSE:AAT – Get Rating) announced a quarterly dividend on Tuesday, April 26th, Zacks reports. Shareholders of record on Thursday, June 9th will be given a dividend of 0.32 per share by the real estate investment trust on Thursday, June 23rd. This represents a $1.28 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Wednesday, June 8th.
American Assets Trust has increased its dividend payment by an average of 2.1% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. American Assets Trust has a dividend payout ratio of 140.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect American Assets Trust to earn $2.30 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 55.7%.
Shares of NYSE:AAT opened at $37.21 on Thursday. The firm has a 50 day moving average of $36.67 and a 200-day moving average of $37.01. The stock has a market capitalization of $2.25 billion, a PE ratio of 77.52, a PEG ratio of 2.37 and a beta of 1.18. The company has a current ratio of 3.56, a quick ratio of 3.56 and a debt-to-equity ratio of 1.37. American Assets Trust has a 12 month low of $33.27 and a 12 month high of $40.83.
AAT has been the subject of several recent research reports. Mizuho lowered their price objective on American Assets Trust from $40.00 to $37.00 and set a “neutral” rating for the company in a research note on Tuesday, February 15th. StockNews.com started coverage on shares of American Assets Trust in a report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research upgraded American Assets Trust from a “sell” rating to a “hold” rating in a report on Wednesday, March 23rd. TheStreet upgraded American Assets Trust from a “c” rating to a “b-” rating in a report on Monday, March 21st. Finally, Morgan Stanley reduced their target price on American Assets Trust from $37.00 to $35.00 and set an “equal weight” rating on the stock in a report on Monday, March 21st. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, American Assets Trust presently has an average rating of “Hold” and a consensus price target of $39.25.
In other American Assets Trust news, CEO Ernest S. Rady purchased 3,471 shares of American Assets Trust stock in a transaction dated Thursday, February 24th. The shares were purchased at an average cost of $34.90 per share, for a total transaction of $121,137.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ernest S. Rady purchased 3,104 shares of American Assets Trust stock in a transaction dated Thursday, February 17th. The stock was acquired at an average price of $36.73 per share, for a total transaction of $114,009.92. The disclosure for this purchase can be found here. Insiders have purchased 38,613 shares of company stock worth $1,381,507 over the last 90 days. 33.67% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Citadel Advisors LLC lifted its position in American Assets Trust by 544.4% during the 4th quarter. Citadel Advisors LLC now owns 57,000 shares of the real estate investment trust’s stock worth $2,139,000 after acquiring an additional 48,155 shares during the period. UBS Group AG boosted its holdings in American Assets Trust by 74.5% in the 3rd quarter. UBS Group AG now owns 57,173 shares of the real estate investment trust’s stock worth $2,139,000 after buying an additional 24,415 shares during the last quarter. Vident Investment Advisory LLC boosted its holdings in American Assets Trust by 2.4% in the 4th quarter. Vident Investment Advisory LLC now owns 44,630 shares of the real estate investment trust’s stock worth $1,674,000 after buying an additional 1,052 shares during the last quarter. Marshall Wace LLP acquired a new stake in American Assets Trust in the 4th quarter worth about $1,457,000. Finally, D. E. Shaw & Co. Inc. boosted its holdings in shares of American Assets Trust by 367.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 34,041 shares of the real estate investment trust’s stock worth $1,278,000 after purchasing an additional 26,761 shares during the last quarter. 94.66% of the stock is currently owned by institutional investors and hedge funds.
About American Assets Trust (Get Rating)
American Assets Trust, Inc is a full service, vertically integrated and self-administered real estate investment trust, or REIT, headquartered in San Diego, California. The company has over 50 years of experience in acquiring, improving, developing and managing premier office, retail, and residential properties throughout the United States in some of the nation's most dynamic, high-barrier-to-entry markets primarily in Southern California, Northern California, Oregon, Washington, Texas and Hawaii.
- Get a free copy of the StockNews.com research report on American Assets Trust (AAT)
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