Geode Capital Management LLC Lowers Position in American Assets Trust, Inc. (NYSE:AAT)

Geode Capital Management LLC cut its holdings in American Assets Trust, Inc. (NYSE:AAT) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,247,619 shares of the real estate investment trust’s stock after selling 19,603 shares during the period. Geode Capital Management LLC owned about 2.05% of American Assets Trust worth $32,770,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in American Assets Trust by 693.7% during the fourth quarter. Wellington Management Group LLP now owns 661,763 shares of the real estate investment trust’s stock valued at $17,378,000 after purchasing an additional 578,386 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of American Assets Trust by 17.5% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 285,134 shares of the real estate investment trust’s stock valued at $7,488,000 after buying an additional 42,395 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of American Assets Trust by 8.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 728,386 shares of the real estate investment trust’s stock valued at $19,127,000 after purchasing an additional 55,762 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in American Assets Trust by 5.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 63,040 shares of the real estate investment trust’s stock valued at $1,655,000 after purchasing an additional 3,040 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in shares of American Assets Trust during the fourth quarter valued at about $1,681,000. 90.43% of the stock is currently owned by institutional investors.

American Assets Trust Price Performance

Shares of AAT stock opened at $18.87 on Thursday. The company has a quick ratio of 8.17, a current ratio of 8.17 and a debt-to-equity ratio of 1.80. The business’s fifty day moving average is $20.54 and its 200 day moving average is $24.42. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 21.20 and a beta of 1.12. American Assets Trust, Inc. has a twelve month low of $16.69 and a twelve month high of $29.15.

American Assets Trust (NYSE:AAT) last issued its earnings results on Tuesday, February 4th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.41. American Assets Trust had a net margin of 12.40% and a return on equity of 4.98%. Research analysts expect that American Assets Trust, Inc. will post 1.94 EPS for the current fiscal year.

American Assets Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 7.21%. The ex-dividend date was Thursday, March 6th. This is a boost from American Assets Trust’s previous quarterly dividend of $0.34. American Assets Trust’s dividend payout ratio is 152.81%.

Analysts Set New Price Targets

Separately, Mizuho cut their price objective on American Assets Trust from $28.00 to $22.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th.

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.