American Assets Trust, Inc. (NYSE:AAT) Shares Sold by Wolverine Asset Management LLC

Wolverine Asset Management LLC cut its position in American Assets Trust, Inc. (NYSE:AAT) by 45.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,851 shares of the real estate investment trust’s stock after selling 2,404 shares during the period. Wolverine Asset Management LLC’s holdings in American Assets Trust were worth $75,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AAT. Blue Trust Inc. increased its holdings in shares of American Assets Trust by 516.3% in the third quarter. Blue Trust Inc. now owns 5,775 shares of the real estate investment trust’s stock valued at $154,000 after purchasing an additional 4,838 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of American Assets Trust by 433.5% in the third quarter. Assenagon Asset Management S.A. now owns 83,181 shares of the real estate investment trust’s stock valued at $2,223,000 after purchasing an additional 67,589 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of American Assets Trust by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,891 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 488 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of American Assets Trust by 37.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 35,179 shares of the real estate investment trust’s stock valued at $940,000 after purchasing an additional 9,620 shares during the period. Finally, abrdn plc purchased a new stake in shares of American Assets Trust in the third quarter worth about $256,000. 90.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AAT has been the topic of a number of recent research reports. Mizuho upped their target price on American Assets Trust from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Morgan Stanley upped their target price on American Assets Trust from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th.

American Assets Trust Stock Up 0.9 %

Shares of AAT opened at $22.04 on Tuesday. American Assets Trust, Inc. has a 52 week low of $20.03 and a 52 week high of $29.15. The company has a quick ratio of 8.17, a current ratio of 8.17 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 24.76 and a beta of 1.30. The stock’s 50-day moving average price is $24.33 and its 200-day moving average price is $26.09.

American Assets Trust (NYSE:AAT) last issued its earnings results on Tuesday, February 4th. The real estate investment trust reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.41. American Assets Trust had a return on equity of 4.98% and a net margin of 12.40%. On average, sell-side analysts predict that American Assets Trust, Inc. will post 1.94 EPS for the current year.

American Assets Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.36 dividend on an annualized basis and a yield of 6.17%. This is an increase from American Assets Trust’s previous quarterly dividend of $0.34. American Assets Trust’s dividend payout ratio is currently 152.81%.

Insiders Place Their Bets

In other American Assets Trust news, COO Adam Wyll sold 30,238 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $28.22, for a total transaction of $853,316.36. Following the transaction, the chief operating officer now owns 45,595 shares in the company, valued at approximately $1,286,690.90. This represents a 39.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 37.32% of the stock is currently owned by company insiders.

American Assets Trust Profile

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.