American Assets Trust, Inc. (AAT) Short Interest Update
American Assets Trust, Inc. (NYSE:AAT) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 1,480,716 shares, an increase of 41.0% from the October 13th total of 1,050,312 shares. Based on an average trading volume of 226,035 shares, the short-interest ratio is currently 6.6 days. Approximately 3.7% of the company’s stock are sold short.
Shares of American Assets Trust (NYSE:AAT) opened at $39.41 on Thursday. American Assets Trust has a 12 month low of $36.79 and a 12 month high of $44.83. The company has a market cap of $1,850.00, a P/E ratio of 20.48, a PEG ratio of 3.46 and a beta of 0.52. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 1.56.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Thursday, December 7th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, December 6th. This is a positive change from American Assets Trust’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.74%. American Assets Trust’s payout ratio is currently 155.22%.
In other news, CEO Ernest S. Rady acquired 37,498 shares of American Assets Trust stock in a transaction on Friday, August 18th. The stock was acquired at an average cost of $40.10 per share, for a total transaction of $1,503,669.80. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ernest S. Rady acquired 85,155 shares of American Assets Trust stock in a transaction on Wednesday, November 8th. The shares were purchased at an average price of $38.84 per share, with a total value of $3,307,420.20. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 356,205 shares of company stock valued at $14,219,287. 34.15% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in AAT. State Street Corp grew its stake in shares of American Assets Trust by 59.6% in the first quarter. State Street Corp now owns 1,510,392 shares of the real estate investment trust’s stock worth $63,194,000 after acquiring an additional 564,067 shares during the period. American Assets Inc. grew its stake in shares of American Assets Trust by 8.2% in the second quarter. American Assets Inc. now owns 5,882,841 shares of the real estate investment trust’s stock worth $231,725,000 after acquiring an additional 447,005 shares during the period. Numeric Investors LLC bought a new stake in American Assets Trust during the second quarter valued at approximately $16,475,000. BlackRock Inc. grew its position in American Assets Trust by 3.6% during the second quarter. BlackRock Inc. now owns 5,914,797 shares of the real estate investment trust’s stock valued at $232,982,000 after buying an additional 203,106 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in American Assets Trust by 131.4% during the second quarter. Goldman Sachs Group Inc. now owns 292,463 shares of the real estate investment trust’s stock valued at $11,520,000 after buying an additional 166,072 shares during the period. Hedge funds and other institutional investors own 97.69% of the company’s stock.
AAT has been the subject of a number of analyst reports. BidaskClub upgraded shares of American Assets Trust from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Zacks Investment Research upgraded shares of American Assets Trust from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Thursday, August 31st. Bank of America Corporation lowered shares of American Assets Trust from a “buy” rating to a “neutral” rating and set a $41.00 price objective for the company. in a research note on Thursday, November 2nd. Mizuho restated a “hold” rating and set a $40.00 price objective on shares of American Assets Trust in a research note on Friday, November 10th. Finally, TheStreet lowered shares of American Assets Trust from a “b-” rating to a “c+” rating in a research note on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $44.00.
American Assets Trust Company Profile
American Assets Trust, Inc is a full service, vertically integrated and self-administered real estate investment trust (REIT). The Company owns, operates, acquires and develops retail, office, multifamily and mixed-use properties in Southern California, Northern California, Oregon, Washington, Texas and Hawaii markets.
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