American Assets Trust (NYSE:AAT) Stock Price Down 6.1% – Here’s What Happened

Shares of American Assets Trust, Inc. (NYSE:AAT) dropped 6.1% during mid-day trading on Wednesday . The company traded as low as $22.48 and last traded at $22.57. Approximately 22,108 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 275,721 shares. The stock had previously closed at $24.02.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Morgan Stanley increased their price objective on shares of American Assets Trust from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Mizuho raised their price target 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 Price Performance

The company has a debt-to-equity ratio of 1.86, a quick ratio of 8.53 and a current ratio of 8.53. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 24.93 and a beta of 1.30. The company’s 50 day moving average price is $25.73 and its 200-day moving average price is $26.33.

American Assets Trust (NYSE:AAT) last released its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.41. American Assets Trust had a return on equity of 5.08% and a net margin of 12.76%. On average, equities research analysts forecast that American Assets Trust, Inc. will post 2.53 earnings per share for the current fiscal year.

American Assets Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be paid a $0.34 dividend. The ex-dividend date is Thursday, March 6th. This is a positive change from American Assets Trust’s previous quarterly dividend of $0.34. This represents a $1.36 dividend on an annualized basis and a yield of 5.99%. American Assets Trust’s dividend payout ratio (DPR) is presently 147.25%.

Insiders Place Their Bets

In related news, COO Adam Wyll sold 30,238 shares of the company’s stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 45,595 shares in the company, valued at $1,286,690.90. This represents a 39.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 37.32% of the company’s stock.

Hedge Funds Weigh In On American Assets Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in AAT. Charles Schwab Investment Management Inc. raised its stake in shares of American Assets Trust by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,483,021 shares of the real estate investment trust’s stock valued at $38,944,000 after purchasing an additional 8,337 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of American Assets Trust by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,267,222 shares of the real estate investment trust’s stock worth $33,866,000 after acquiring an additional 15,491 shares during the period. JPMorgan Chase & Co. boosted its position in shares of American Assets Trust by 14.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 584,529 shares of the real estate investment trust’s stock valued at $15,619,000 after acquiring an additional 72,579 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in American Assets Trust by 292.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 411,809 shares of the real estate investment trust’s stock valued at $11,004,000 after acquiring an additional 306,946 shares during the period. Finally, Principal Financial Group Inc. raised its position in American Assets Trust by 3.7% in the fourth quarter. Principal Financial Group Inc. now owns 253,298 shares of the real estate investment trust’s stock worth $6,652,000 after purchasing an additional 8,969 shares in the last quarter. 90.43% of the stock is currently owned by institutional investors.

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.