9,298 Shares in American Assets Trust, Inc. (NYSE:AAT) Purchased by Summit Global Investments

Summit Global Investments acquired a new stake in shares of American Assets Trust, Inc. (NYSE:AAT) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 9,298 shares of the real estate investment trust’s stock, valued at approximately $209,000.

Other institutional investors have also modified their holdings of the company. Federated Hermes Inc. bought a new position in American Assets Trust in the fourth quarter worth approximately $25,000. Allspring Global Investments Holdings LLC increased its holdings in shares of American Assets Trust by 87.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,838 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 856 shares during the period. Van ECK Associates Corp boosted its position in American Assets Trust by 18.2% during the third quarter. Van ECK Associates Corp now owns 6,477 shares of the real estate investment trust’s stock valued at $126,000 after purchasing an additional 998 shares in the last quarter. abrdn plc purchased a new position in American Assets Trust in the fourth quarter valued at about $206,000. Finally, Victory Capital Management Inc. bought a new position in American Assets Trust in the fourth quarter worth about $219,000. 90.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Mizuho lowered their price target on shares of American Assets Trust from $23.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, February 23rd.

American Assets Trust Stock Performance

Shares of NYSE AAT opened at $21.73 on Tuesday. American Assets Trust, Inc. has a 1 year low of $17.15 and a 1 year high of $23.92. The company has a debt-to-equity ratio of 1.47, a quick ratio of 2.93 and a current ratio of 3.02. The company’s fifty day moving average price is $21.23 and its 200 day moving average price is $21.24. The company has a market capitalization of $1.32 billion, a PE ratio of 24.42 and a beta of 1.25.

American Assets Trust (NYSE:AAT) last posted its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.32 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.35). The firm had revenue of $110.70 million for the quarter, compared to analysts’ expectations of $106.39 million. American Assets Trust had a return on equity of 4.60% and a net margin of 12.05%. During the same quarter last year, the firm posted $0.66 earnings per share. On average, research analysts predict that American Assets Trust, Inc. will post 2.26 earnings per share for the current year.

American Assets Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be paid a dividend of $0.335 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.34 annualized dividend and a yield of 6.17%. American Assets Trust’s dividend payout ratio (DPR) is presently 150.56%.

American Assets Trust 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.