American Assets Trust, Inc. (NYSE: AAT – Get a rating) saw strong growth in short-term interest in September. As of September 30, there was short interest totaling 1,100,000 shares, a growth of 50.7% from the total of 730,100 shares as of September 15. Approximately 2.3% of the company’s shares are sold short. Based on an average daily volume of 259,000 shares, the short interest ratio is currently 4.2 days.
American Assets Trust shares down 1.9%
AAT stock was down $0.48 in Friday’s session, hitting $24.96. 301,052 shares of the stock were traded, compared to its average volume of 267,473. American Assets Trust has a 1-year low of $24.00 and a 1-year high of $40.83. The company’s 50-day moving average is $27.49 and its two-hundred-day moving average is $30.87. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 37.25, a growth price-to-earnings ratio of 1.40 and a beta of 1.08. The company has a debt ratio of 1.38, a current ratio of 2.34 and a quick ratio of 2.34.
American Assets Trust Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 22. Investors of record on Thursday, September 8 received a dividend of $0.32 per share. This represents an annualized dividend of $1.28 and a yield of 5.13%. The ex-dividend date was Wednesday, September 7. American Assets Trust’s dividend payout ratio (DPR) is 191.04%.
In other news, CEO Ernest S. Rady bought 2,700 shares of the company in a trade on Wednesday, August 24. The shares were acquired at an average price of $28.39 per share, with a total value of $76,653.00. As a result of the transaction, the CEO now directly owns 6,772,855 shares of the company, valued at approximately $192,281,353.45. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Separately, CEO Ernest S. Rady purchased 2,700 shares of the company in a trade on Wednesday, August 24. The shares were acquired at an average price of $28.39 per share, with a total value of $76,653.00. As a result of the transaction, the CEO now directly owns 6,772,855 shares of the company, valued at approximately $192,281,353.45. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Also, CEO Ernest S. Rady bought 10,000 shares of the company in a trade 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. As a result of the transaction, 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. Company insiders hold 34.38% of the company’s shares.
American Assets Trust Institutional Trading
Several institutional investors have recently bought and sold shares of AAT. CWM LLC increased its equity stake in American Assets Trust by 210.2% in Q1. CWM LLC now owns 698 shares of the real estate investment trust worth $26,000 after acquiring 473 additional shares in the last quarter. Ellevest Inc. increased its stake in shares of 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 acquiring 359 additional shares in the last quarter. Point72 Hong Kong Ltd bought a new equity stake in American Assets Trust during Q2, valued at around $42,000. Lazard Asset Management LLC increased its stake in shares of American Assets Trust by 207.6% during the 2nd quarter. Lazard Asset Management LLC now owns 1,452 shares of the real estate investment trust valued at $43,000 after acquiring 980 additional shares in the last quarter. Finally, US Asset Management LLC acquired during the 1st quarter a new shareholding in American Assets Trust valued at approximately $69,000. 94.96% of the shares are held by hedge funds and other institutional investors.
Analyst upgrades and downgrades
Several brokerages have commented on AAT. Morgan Stanley raised its price target on American Assets Trust shares from $25.50 to $28.00 and gave the stock an “equal weight” rating in a Monday, August 29 report. KeyCorp restated a “sector weighting” rating on American Assets Trust shares in a Thursday, July 14, report. StockNews.com began covering shares of American Assets Trust in a report on Wednesday. They issued a “hold” rating for the company. Finally, TheStreet downgraded shares of American Assets Trust from a “b-” rating to a “c+” rating in a Thursday, June 16 research note. Four research analysts rated the stock with a holding rating. Based on MarketBeat data, American Assets Trust currently has an average rating of “Hold” and a consensus price target of $32.50.
American Assets Trust Company Profile
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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