Summit Global Investments Buys 7,221 Shares of American Assets Trust, Inc. (NYSE:AAT)

Summit Global Investments boosted its stake in shares of American Assets Trust, Inc. (NYSE:AAT) by 49.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,832 shares of the real estate investment trust’s stock after purchasing an additional 7,221 shares during the period. Summit Global Investments’ holdings in American Assets Trust were worth $573,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jane Street Group LLC lifted its holdings in shares of American Assets Trust by 142.8% during the 3rd quarter. Jane Street Group LLC now owns 90,078 shares of the real estate investment trust’s stock valued at $2,407,000 after buying an additional 52,977 shares during the period. JPMorgan Chase & Co. lifted its holdings in American Assets Trust by 14.2% in the third 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 during the period. Charles Schwab Investment Management Inc. lifted its holdings in American Assets Trust by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,684 shares of the real estate investment trust’s stock valued at $39,404,000 after acquiring an additional 35,688 shares during the period. Barclays PLC lifted its holdings in American Assets Trust by 110.5% in the third quarter. Barclays PLC now owns 110,220 shares of the real estate investment trust’s stock valued at $2,946,000 after acquiring an additional 57,850 shares during the period. Finally, Verition Fund Management LLC bought a new position in shares of American Assets Trust in the 3rd quarter worth approximately $217,000. 90.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Mizuho lowered their price objective on shares of American Assets Trust from $28.00 to $22.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th.

American Assets Trust Price Performance

Shares of American Assets Trust stock opened at $20.18 on Monday. American Assets Trust, Inc. has a one year low of $19.56 and a one year high of $29.15. The stock’s fifty day moving average is $22.55 and its 200 day moving average is $25.42. The stock has a market cap of $1.23 billion, a P/E ratio of 22.67 and a beta of 1.33. The company has a debt-to-equity ratio of 1.80, a quick ratio of 8.17 and a current ratio of 8.17.

American Assets Trust (NYSE:AAT) last announced its earnings results 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 4.98% and a net margin of 12.40%. Sell-side analysts anticipate that American Assets Trust, Inc. will post 1.94 earnings per share for the current year.

American Assets Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.34 per share. This is a boost from American Assets Trust’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, March 6th. This represents a $1.36 dividend on an annualized basis and a yield of 6.74%. American Assets Trust’s dividend payout ratio (DPR) is presently 152.81%.

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.