Assenagon Asset Management S.A. lowered its holdings in shares of American Assets Trust, Inc. (NYSE:AAT – Free Report) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,451 shares of the real estate investment trust’s stock after selling 2,730 shares during the period. Assenagon Asset Management S.A. owned approximately 0.13% of American Assets Trust worth $2,113,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of American Assets Trust by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,891 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 488 shares during the last quarter. Quarry LP increased its position in American Assets Trust by 131.3% during the 3rd quarter. Quarry LP now owns 2,163 shares of the real estate investment trust’s stock valued at $58,000 after buying an additional 1,228 shares in the last quarter. Vestcor Inc purchased a new position in American Assets Trust during the third quarter valued at $103,000. Blue Trust Inc. boosted its holdings in American Assets Trust by 516.3% in the third quarter. Blue Trust Inc. now owns 5,775 shares of the real estate investment trust’s stock worth $154,000 after acquiring an additional 4,838 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan purchased a new stake in shares of American Assets Trust in the third quarter worth $211,000. Hedge funds and other institutional investors own 90.43% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on AAT. Morgan Stanley lifted their price target on American Assets Trust from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Mizuho raised their price objective on shares of American Assets Trust from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th.
American Assets Trust Stock Performance
AAT stock opened at $24.41 on Thursday. The stock’s 50 day simple moving average is $26.59 and its 200 day simple moving average is $26.31. The company has a current ratio of 8.53, a quick ratio of 8.53 and a debt-to-equity ratio of 1.86. American Assets Trust, Inc. has a 12-month low of $20.03 and a 12-month high of $29.15. The stock has a market capitalization of $1.49 billion, a PE ratio of 26.82 and a beta of 1.31.
American Assets Trust Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date of this dividend was Thursday, December 5th. American Assets Trust’s payout ratio is currently 147.25%.
Insider Activity at American Assets Trust
In related news, COO Adam Wyll sold 30,238 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $28.22, for a total transaction of $853,316.36. Following the transaction, the chief operating officer now owns 45,595 shares in the company, valued at $1,286,690.90. This represents a 39.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 37.32% of the stock is currently owned by insiders.
American Assets Trust Company Profile
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 has over 55 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, Washington, Oregon, Texas and Hawaii.
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