American Assets Trust (NYSE:AAT) Reaches New 1-Year High – Here’s Why

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Morgan Stanley increased their price target on shares of American Assets Trust from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Mizuho increased their price target on shares of American Assets Trust from $22.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, August 19th.

American Assets Trust Trading Down 0.1 %

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 company has a 50-day simple moving average of $26.95 and a 200 day simple moving average of $24.42. The firm has a market cap of $1.70 billion, a PE ratio of 30.70 and a beta of 1.29.

American Assets Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.335 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.34 annualized dividend and a yield of 4.80%. American Assets Trust’s dividend payout ratio is presently 147.25%.

Institutional Investors Weigh In On American Assets Trust

Several hedge funds have recently bought and sold shares of AAT. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in American Assets Trust by 25.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,039 shares of the real estate investment trust’s stock valued at $482,000 after purchasing an additional 3,607 shares in the last quarter. NJ State Employees Deferred Compensation Plan acquired a new stake in shares of American Assets Trust in the 3rd quarter worth $211,000. QRG Capital Management Inc. acquired a new stake in shares of American Assets Trust in the 3rd quarter worth $228,000. Van ECK Associates Corp increased its position in shares of American Assets Trust by 15.0% during the 3rd quarter. Van ECK Associates Corp now owns 9,457 shares of the real estate investment trust’s stock worth $260,000 after purchasing an additional 1,232 shares during the last quarter. Finally, abrdn plc acquired a new stake in shares of American Assets Trust during the 3rd quarter worth about $256,000. 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.