Granite Investment Partners LLC Cuts Holdings in American Assets Trust, Inc. (NYSE:AAT)

Financial News Live · Oct 3, 2022 09:51

Granite Investment Partners LLC trimmed its holdings in shares of American Assets Trust, Inc. (NYSE:AAT – Get Rating) by 5.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 417,517 shares of the real estate investment trust's stock after selling 22,806 shares during the quarter. Granite Investment Partners LLC's holdings in American Assets Trust were worth $12,400,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AAT. CWM LLC boosted its stake in American Assets Trust by 210.2% during the 1st quarter. CWM LLC now owns 698 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 473 shares during the last quarter. Ellevest Inc. lifted its holdings in shares of American Assets Trust by 97.6% during the 1st quarter. Ellevest Inc. now owns 727 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 359 shares during the period. US Asset Management LLC bought a new position in shares of American Assets Trust during the 1st quarter valued at $69,000. Schroder Investment Management Group lifted its holdings in shares of American Assets Trust by 40.1% during the 4th quarter. Schroder Investment Management Group now owns 3,599 shares of the real estate investment trust's stock valued at $135,000 after buying an additional 1,031 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of American Assets Trust by 15.1% during the 1st quarter. Van ECK Associates Corp now owns 4,473 shares of the real estate investment trust's stock valued at $169,000 after buying an additional 586 shares during the period. 94.96% of the stock is currently owned by hedge funds and other institutional investors.

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American Assets Trust Price Performance

Shares of American Assets Trust stock opened at $25.72 on Monday. American Assets Trust, Inc. has a one year low of $24.00 and a one year high of $40.83. The stock's fifty day moving average is $28.28 and its 200 day moving average is $31.51. The stock has a market cap of $1.56 billion, a P/E ratio of 38.39, a P/E/G ratio of 1.42 and a beta of 1.10. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.34 and a current ratio of 2.34.

American Assets Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, September 8th were issued a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.28 dividend on an annualized basis and a yield of 4.98%. American Assets Trust's dividend payout ratio is currently 191.04%.

Analyst Ratings Changes

AAT has been the topic of several research analyst reports. TheStreet cut American Assets Trust from a "b-" rating to a "c+" rating in a report on Thursday, June 16th. KeyCorp reissued a "sector weight" rating on shares of American Assets Trust in a report on Thursday, July 14th. Finally, Morgan Stanley increased their price target on American Assets Trust from $25.50 to $28.00 and gave the company an "equal weight" rating in a report on Monday, August 29th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $32.50.

Insider Buying and Selling

In related news, CEO Ernest S. Rady bought 87,324 shares of the firm's stock in a transaction that occurred on Thursday, September 15th. The shares were bought at an average cost of $26.99 per share, with a total value of $2,356,874.76. Following the acquisition, the chief executive officer now owns 6,942,855 shares in the company, valued at $187,387,656.45. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Ernest S. Rady bought 87,324 shares of the firm's stock in a transaction that occurred on Thursday, September 15th. The shares were bought at an average cost of $26.99 per share, with a total value of $2,356,874.76. Following the acquisition, the chief executive officer now owns 6,942,855 shares in the company, valued at $187,387,656.45. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ernest S. Rady bought 16,700 shares of the firm's stock in a transaction that occurred on Monday, August 15th. The stock was bought at an average cost of $30.64 per share, for a total transaction of $511,688.00. Following the completion of the acquisition, the chief executive officer now owns 6,677,484 shares in the company, valued at approximately $204,598,109.76. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 259,395 shares of company stock valued at $7,386,977. 34.38% of the stock is owned by company insiders.

American Assets Trust Profile

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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.