American Assets Trust, Inc. (NYSE: AAT – Get a rating) was the target of strong short-term interest growth in June. As of June 15, there was short interest totaling 1,140,000 shares, up 34.8% from the May 31 total of 845,500 shares. Currently, 3.0% of the company’s shares are sold short. Based on an average trading volume of 293,700 shares, the day-to-cover ratio is currently 3.9 days.
A number of brokerages have commented on AAT. Morgan Stanley lowered its price target on American Assets Trust from $35.00 to $34.50 and set an “equal weight” rating for the company in a Monday, June 6 research report. StockNews.com began covering American Assets Trust in a research report on Thursday, March 31. They set a “hold” rating for the company. Finally, TheStreet upgraded American Assets Trust from a “b-” to a “c+” rating in a Thursday, June 16 research report.
NYSE AAT opened at $30.18 on Friday. The stock has a 50-day simple moving average of $32.44 and a 200-day simple moving average of $35.15. The company has a market capitalization of $1.83 billion, a P/E ratio of 47.16, a PEG ratio of 1.71 and a beta of 1.13. American Assets Trust has a fifty-two week low of $28.42 and a fifty-two week high of $40.83. The company has a debt ratio of 1.37, a quick ratio of 2.43 and a current ratio of 2.43.
American Assets Trust (NYSE: AAT – Get a rating) last announced its quarterly results on Tuesday, April 26. The real estate investment trust reported earnings per share of $0.18 for the quarter, missing the consensus estimate of $0.19 per ($0.01). American Assets Trust had a net margin of 9.57% and a return on equity of 3.10%. In the same period a year earlier, the company posted earnings per share of $0.38. As a group, analysts expect American Assets Trust to post 2.2 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 23. Investors of record on Thursday, June 9 received a dividend of $0.32. The ex-dividend date was Wednesday, June 8. This represents an annualized dividend of $1.28 and a dividend yield of 4.24%. American Assets Trust’s dividend payout ratio is currently 200.00%.
In other news from American Assets Trust, CEO Ernest S. Rady acquired 9,614 shares in a trade dated Tuesday, May 3. The shares were purchased at an average price of $35.37 per share, with a total value of $340,047.18. As a result of the transaction, the CEO now directly owns 2,009,039 shares of the company, valued at $71,059,709.43. The acquisition was disclosed in a filing with the SEC, accessible via this hyperlink. Also, CEO Ernest S. Rady acquired 10,000 shares in a transaction dated Tuesday, May 10. The shares were acquired at an average cost of $32.91 per share, with a total value of $329,100.00. Following the transaction, the CEO now directly owns 2,046,619 shares of the company, valued at $67,354,231.29. Disclosure of this purchase can be found here. Insiders purchased a total of 110,811 shares of the company worth $3,622,831 during the last quarter. Insiders of the company hold 34.38% of the shares of the company.
Several institutional investors have recently changed their positions in AAT. Maryland State Retirement & Pension System increased its stake in American Assets Trust by 1.5% in the 1st quarter. Maryland State Retirement & Pension System now owns 21,280 shares of the real estate investment trust worth $806,000 after buying 306 more shares last quarter. Comerica Bank increased its stake in American Assets Trust by 0.7% in the first quarter. Comerica Bank now owns 45,881 shares of the real estate investment trust worth $1,688,000 after buying 306 more shares last quarter. abrdn plc increased its stake in American Assets Trust by 3.3% in the first quarter. abrdn plc now owns 11,081 shares of the real estate investment trust worth $426,000 after buying an additional 350 shares in the last quarter. Ellevest Inc. increased its stake in American Assets Trust by 97.6% during the 1st quarter. Ellevest Inc. now owns 727 shares of the real estate investment trust worth $28,000 after buying 359 additional shares in the last quarter. Finally, Weil Company Inc. increased its stake in American Assets Trust by 4.6% during the 1st quarter. Weil Company Inc. now owns 8,965 shares of the real estate investment trust worth $340,000 after buying 394 additional shares in the last quarter. Hedge funds and other institutional investors hold 94.83% of the company’s shares.
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 difficult to access in the country, mainly in southern California, northern California, Oregon, Washington, Texas and Hawaii.
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