American Assets Trust, Inc (NYSE:AAT) announced a quarterly dividend on Wednesday, February 14th, Wall Street Journal reports. Stockholders of record on Thursday, March 15th will be given a dividend of 0.27 per share by the real estate investment trust on Thursday, March 29th. This represents a $1.08 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Wednesday, March 14th.
American Assets Trust has raised its dividend by an average of 5.6% annually over the last three years. American Assets Trust has a dividend payout ratio of 54.0% meaning its dividend is sufficiently covered by earnings. Analysts expect American Assets Trust to earn $2.06 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 52.4%.
American Assets Trust (NYSE AAT) traded down $0.98 during midday trading on Wednesday, hitting $32.00. The stock had a trading volume of 464,561 shares, compared to its average volume of 193,361. The company has a market capitalization of $1,537.31, a P/E ratio of 49.97, a price-to-earnings-growth ratio of 2.77 and a beta of 0.40. American Assets Trust has a 52-week low of $30.93 and a 52-week high of $44.83. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.76 and a current ratio of 2.76.
AAT has been the subject of several recent research reports. Bank of America downgraded American Assets Trust from a “buy” rating to a “neutral” rating and set a $41.00 price objective for the company. in a report on Thursday, November 2nd. Mizuho restated a “hold” rating and set a $40.00 price objective on shares of American Assets Trust in a report on Friday, November 10th. Finally, Zacks Investment Research downgraded American Assets Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $44.00.
In related news, CEO Ernest S. Rady purchased 40,167 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was acquired at an average price of $39.34 per share, for a total transaction of $1,580,169.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ernest S. Rady purchased 5,825 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were bought at an average price of $39.46 per share, with a total value of $229,854.50. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 156,554 shares of company stock valued at $6,121,031. Corporate insiders own 34.15% of the company’s stock.
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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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