American Assets Trust, Inc. (NYSE:AAT) Stock Holdings Increased by Summit Global Investments

Summit Global Investments grew its position in American Assets Trust, Inc. (NYSE:AAT) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,225 shares of the real estate investment trust’s stock after purchasing an additional 1,008 shares during the period. Summit Global Investments owned about 0.06% of American Assets Trust worth $878,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System bought a new position in shares of American Assets Trust in the fourth quarter worth about $547,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in American Assets Trust by 10.3% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 65,063 shares of the real estate investment trust’s stock valued at $1,465,000 after acquiring an additional 6,097 shares during the period. Federated Hermes Inc. acquired a new position in American Assets Trust during the fourth quarter worth $25,000. abrdn plc bought a new position in shares of American Assets Trust in the fourth quarter valued at approximately $206,000. Finally, Truist Financial Corp bought a new position in shares of American Assets Trust in the fourth quarter valued at about $376,000. Institutional investors own 90.43% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Mizuho raised their price target on American Assets Trust from $22.00 to $26.00 and gave the company a “neutral” rating in a report on Monday.

American Assets Trust Stock Down 1.1 %

NYSE AAT traded down $0.29 during trading on Tuesday, hitting $25.63. The stock had a trading volume of 195,916 shares, compared to its average volume of 296,161. The company’s 50-day moving average price is $23.52 and its two-hundred day moving average price is $22.21. The company has a debt-to-equity ratio of 1.48, a quick ratio of 3.02 and a current ratio of 3.03. The company has a market capitalization of $1.56 billion, a PE ratio of 28.80 and a beta of 1.29. American Assets Trust, Inc. has a 12 month low of $17.15 and a 12 month high of $27.55.

American Assets Trust (NYSE:AAT) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.33). The company had revenue of $110.89 million during the quarter, compared to analyst estimates of $107.66 million. American Assets Trust had a net margin of 12.00% and a return on equity of 4.62%. During the same period last year, the firm earned $0.59 EPS. As a group, sell-side analysts forecast that American Assets Trust, Inc. will post 2.32 EPS for the current year.

American Assets Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, September 5th will be issued a $0.335 dividend. The ex-dividend date is Thursday, September 5th. This represents a $1.34 annualized dividend and a yield of 5.23%. American Assets Trust’s payout ratio is 150.56%.

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.