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American Assets Trust, Inc. (NYSE:AAT) Short Interest Down 9.6% in August

Financial News Live · Sep 21, 2022 13:01

American Assets Trust, Inc. (NYSE:AAT – Get Rating) saw a significant drop in short interest in August. As of August 31st, there was short interest totalling 792,600 shares, a drop of 9.6% from the August 15th total of 876,700 shares. Currently, 1.6% of the shares of the stock are short sold. Based on an average trading volume of 226,500 shares, the short-interest ratio is currently 3.5 days.

Insider Activity at American Assets Trust

In other American Assets Trust news, CEO Ernest S. Rady acquired 16,700 shares of the stock in a transaction on Monday, August 15th. The stock was acquired at an average price of $30.64 per share, for a total transaction of $511,688.00. Following the completion of the transaction, the chief executive officer now directly owns 6,677,484 shares of the company's stock, valued at $204,598,109.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other American Assets Trust news, CEO Ernest S. Rady bought 16,700 shares of the business's stock in a transaction on Monday, August 15th. The shares were acquired at an average price of $30.64 per share, with a total value of $511,688.00. Following the transaction, the chief executive officer now owns 6,677,484 shares of the company's stock, valued at approximately $204,598,109.76. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ernest S. Rady acquired 10,000 shares of the business's stock in a transaction dated Wednesday, August 3rd. The stock was purchased at an average cost of $29.40 per share, for a total transaction of $294,000.00. Following the transaction, the chief executive officer now owns 6,610,784 shares in the company, valued at $194,357,049.60. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 259,395 shares of company stock valued at $7,386,977. Corporate insiders own 34.38% of the company's stock.

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Institutional Investors Weigh In On American Assets Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Maryland State Retirement & Pension System lifted its holdings in American Assets Trust by 1.5% during the first quarter. Maryland State Retirement & Pension System now owns 21,280 shares of the real estate investment trust's stock worth $806,000 after acquiring an additional 306 shares in the last quarter. Comerica Bank lifted its holdings in American Assets Trust by 0.7% during the first quarter. Comerica Bank now owns 45,881 shares of the real estate investment trust's stock worth $1,688,000 after acquiring an additional 306 shares in the last quarter. abrdn plc lifted its holdings in American Assets Trust by 3.3% during the first quarter. abrdn plc now owns 11,081 shares of the real estate investment trust's stock worth $426,000 after acquiring an additional 350 shares in the last quarter. Ellevest Inc. lifted its holdings in American Assets Trust by 97.6% during the first quarter. Ellevest Inc. now owns 727 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 359 shares in the last quarter. Finally, Weil Company Inc. lifted its holdings in American Assets Trust by 4.6% during the first quarter. Weil Company Inc. now owns 8,965 shares of the real estate investment trust's stock worth $340,000 after acquiring an additional 394 shares in the last quarter. 94.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on AAT shares. Morgan Stanley increased their price target on shares of American Assets Trust from $25.50 to $28.00 and gave the company an "equal weight" rating in a research note on Monday, August 29th. KeyCorp reiterated a "sector weight" rating on shares of American Assets Trust in a report on Thursday, July 14th. Finally, TheStreet lowered American Assets Trust from a "b-" rating to a "c+" rating in a research report on Thursday, June 16th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, American Assets Trust currently has an average rating of "Hold" and an average target price of $32.50.

American Assets Trust Price Performance

AAT stock traded up $0.19 during midday trading on Wednesday, reaching $27.31. 3,249 shares of the company's stock traded hands, compared to its average volume of 250,705. The company has a 50-day simple moving average of $28.94 and a two-hundred day simple moving average of $32.17. American Assets Trust has a 1-year low of $26.49 and a 1-year high of $40.83. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 40.48, a PEG ratio of 1.52 and a beta of 1.11. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 1.38.

American Assets Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Thursday, September 8th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $1.28 annualized dividend and a dividend yield of 4.69%. American Assets Trust's dividend payout ratio (DPR) is currently 191.04%.

About American Assets Trust

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American Assets Trust, Inc is a full service, vertically integrated and self-administered real estate investment trust, or REIT, headquartered in San Diego, California. The company has over 50 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, Oregon, Washington, Texas and Hawaii.