American Assets Trust, Inc. (AAT) Announces Dividend Increase – $0.27 Per Share
American Assets Trust, Inc. (NYSE:AAT) announced a quarterly dividend on Wednesday, November 1st, Wall Street Journal reports. Shareholders of record on Thursday, December 7th will be paid a dividend of 0.27 per share by the real estate investment trust on Thursday, December 21st. This represents a $1.08 annualized dividend and a yield of 2.78%. 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.
American Assets Trust has raised its dividend by an average of 5.9% annually over the last three years. American Assets Trust has a dividend payout ratio of 51.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect American Assets Trust to earn $2.22 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 46.8%.
American Assets Trust (NYSE:AAT) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.01). American Assets Trust had a net margin of 10.93% and a return on equity of 3.94%. The business had revenue of $77.11 million for the quarter.
Several research firms have recently commented on AAT. Zacks Investment Research upgraded shares of American Assets Trust from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Friday, July 14th. BidaskClub upgraded shares of American Assets Trust from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Finally, TheStreet lowered shares of American Assets Trust from a “b-” rating to a “c+” rating in a research report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. American Assets Trust currently has a consensus rating of “Hold” and an average target price of $46.33.
In other American Assets Trust news, CEO Ernest S. Rady bought 46,508 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were bought at an average price of $40.00 per share, for a total transaction of $1,860,320.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ernest S. Rady bought 52,778 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was acquired at an average price of $40.17 per share, for a total transaction of $2,120,092.26. The disclosure for this purchase can be found here. Insiders bought a total of 424,319 shares of company stock worth $17,117,491 in the last quarter. 34.15% of the stock is owned by corporate insiders.
About American Assets Trust
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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