American Assets Trust, Inc. (NYSE:AAT) sees sharp drop in short-term interest

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American Assets Trust, Inc. (NYSE:AATGet a rating) benefited from a significant drop in short interest during the month of October. As of October 15, there was short interest totaling 916,800 shares, down 16.7% from the September 30 total of 1,100,000 shares. Based on an average trading volume of 279,600 shares, the short interest ratio is currently 3.3 days. Approximately 1.9% of the company’s shares are sold short.

American Assets Trust shares up 0.9%

Shares of NYSE AAT traded at $0.25 during the midday session on Friday, reaching $27.44. 706,705 shares of the company were traded, compared to its average volume of 337,574. The stock has a market capitalization of $1.66 billion, a P/E ratio of 38.65, a PEG ratio of 1 .49 and a beta of 1.08. The company has a 50-day simple moving average of $26.73 and a 200-day simple moving average of $30.05. American Assets Trust has a 1 year minimum of $24.00 and a 1 year maximum of $40.83. The company has a debt ratio of 1.38, a current ratio of 2.22 and a quick ratio of 2.34.

American Assets Trust announces dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 22. Shareholders of record on Thursday, December 8 will receive a dividend of $0.32 per share. This represents a dividend of $1.28 on an annualized basis and a dividend yield of 4.66%. The ex-date of this dividend is Wednesday, December 7. American Assets Trust’s dividend payout ratio is currently 180.28%.

Wall Street analysts predict growth

A number of stock analysts have weighed in on AAT shares recently. Morgan Stanley raised its price target on shares of American Assets Trust from $25.50 to $28.00 and gave the stock an “equal weight” rating in a Monday, August 29 research note. KeyCorp restated a “sector weighting” rating on American Assets Trust shares in a Thursday, July 14, report. To finish, StockNews.com supposed coverage of American Assets Trust shares in a report on Wednesday, October 12. They issued a “hold” rating for the company. Four analysts rated the stock with a holding rating. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $32.50.

Insider activity

In other American Assets Trust news, CEO Ernest S. Rady purchased 87,324 shares of the company in a trade dated Thursday, September 15. The shares were purchased at an average price of $26.99 per share, with a total value of $2,356,874.76. Following the completion of the purchase, the CEO now owns 6,942,855 shares of the company, valued at $187,387,656.45. The transaction was disclosed in an SEC filing, available at the SEC website. Separately, CEO Ernest S. Rady purchased 87,324 shares in a trade that took place on Thursday, September 15. The shares were acquired at an average price of $26.99 per share, with a total value of $2,356,874.76. Following the completion of the purchase, the CEO now directly owns 6,942,855 shares of the company, valued at $187,387,656.45. The acquisition was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. Also, CEO Ernest S. Rady bought 10,000 shares in a trade that took place on Wednesday, August 3. The shares were purchased at an average cost of $29.40 per share, with a total value of $294,000.00. Following the purchase, the CEO now directly owns 6,610,784 shares of the company, valued at $194,357,049.60. Disclosure of this purchase can be found here. Over the past 90 days, insiders have acquired 259,395 shares of the company valued at $7,386,977. Insiders hold 34.38% of the shares of the company.

Institutional entries and exits

Hedge funds have recently changed their positions in the business. State Street Corp raised its position in American Assets Trust shares 12.1% in the first quarter. State Street Corp now owns 3,154,555 shares of the real estate investment trust valued at $119,526,000 after buying an additional 339,960 shares last quarter. FMR LLC increased its position in American Assets Trust shares by 8.4% during the second quarter. FMR LLC now owns 2,763,383 shares of the real estate investment trust worth $82,072,000 after purchasing an additional 214,301 shares last quarter. Invesco Ltd. increased its position in American Assets Trust shares by 115.0% during the first quarter. Invesco Ltd. now owns 365,299 shares of the real estate investment trust valued at $13,841,000 after purchasing an additional 195,424 shares last quarter. American Assets Inc. increased its position in American Assets Trust shares by 2.5% during the second quarter. American Assets Inc. now owns 7,287,275 shares of the real estate investment trust worth $216,432,000 after buying an additional 180,273 shares last quarter. Finally, Renaissance Technologies LLC increased its position in American Assets Trust shares by 1,329.6% during the second quarter. Renaissance Technologies LLC now owns 193,000 shares of the real estate investment trust worth $5,732,000 after purchasing an additional 179,500 shares in the last quarter. 94.96% of the shares are currently held by institutional investors and hedge funds.

About American Assets Trust

(Get a rating)

American Assets Trust, Inc is a full-service, vertically integrated, self-administered real estate investment trust or REIT, headquartered in San Diego, California. The company has more than 50 years of experience acquiring, improving, developing and managing prime office, retail and residential properties across the United States in some of the world’s toughest markets. most dynamic and the most barrier to entry in the country, mainly in southern California, northern California, Oregon, Washington, Texas and Hawaii.

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