American Assets Trust (NYSE:AAT) Hits New 12-Month High – Here’s Why

American Assets Trust, Inc. (NYSE:AAT)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $28.96 and last traded at $28.25, with a volume of 82316 shares changing hands. The stock had previously closed at $27.32.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AAT shares. Mizuho boosted their price target on American Assets Trust from $22.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Morgan Stanley boosted their price target on American Assets Trust from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th.

American Assets Trust Price Performance

The business has a fifty day simple moving average of $26.91 and a two-hundred day simple moving average of $24.37. The company has a current ratio of 8.53, a quick ratio of 3.03 and a debt-to-equity ratio of 1.86. The stock has a market cap of $1.71 billion, a PE ratio of 30.02 and a beta of 1.29.

American Assets Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.335 per share. The ex-dividend date is Thursday, December 5th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.78%. American Assets Trust’s dividend payout ratio (DPR) is 147.25%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Custom Index Systems LLC grew its stake in shares of American Assets Trust by 4.5% in the 2nd quarter. Custom Index Systems LLC now owns 10,697 shares of the real estate investment trust’s stock worth $239,000 after buying an additional 463 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of American Assets Trust by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,891 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 488 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of American Assets Trust by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,052 shares of the real estate investment trust’s stock worth $605,000 after buying an additional 571 shares during the last quarter. ProShare Advisors LLC lifted its position in American Assets Trust by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 9,841 shares of the real estate investment trust’s stock valued at $216,000 after acquiring an additional 681 shares in the last quarter. Finally, Texas Permanent School Fund Corp lifted its position in American Assets Trust by 1.6% in the 1st quarter. Texas Permanent School Fund Corp now owns 42,636 shares of the real estate investment trust’s stock valued at $934,000 after acquiring an additional 689 shares in the last quarter. Hedge funds and other institutional investors own 90.43% of the company’s stock.

About American Assets Trust

American Assets Trust, Inc is a full service, vertically integrated and self-administered real estate investment trust ("REIT"), headquartered in San Diego, California. The company has over 55 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, Washington, Oregon, Texas and Hawaii.