Principal Financial Group Inc. Trims Position in American Assets Trust, Inc. (NYSE:AAT)

Principal Financial Group Inc. reduced its position in American Assets Trust, Inc. (NYSE:AAT) by 7.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 244,329 shares of the real estate investment trust’s stock after selling 20,603 shares during the period. Principal Financial Group Inc. owned about 0.40% of American Assets Trust worth $6,528,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. QRG Capital Management Inc. acquired a new position in shares of American Assets Trust during the 3rd quarter valued at about $228,000. Van ECK Associates Corp increased its position in American Assets Trust by 15.0% during the third 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. abrdn plc purchased a new position in American Assets Trust during the third quarter worth approximately $256,000. DekaBank Deutsche Girozentrale boosted its holdings in shares of American Assets Trust by 37.6% in the 3rd 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 last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of American Assets Trust by 34.8% during the 3rd 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 buying an additional 488 shares during the period. 90.43% of the stock is currently owned by institutional investors and hedge funds.

American Assets Trust Price Performance

Shares of AAT stock opened at $27.84 on Wednesday. The company has a market capitalization of $1.70 billion, a PE ratio of 30.59 and a beta of 1.29. The firm has a fifty day simple moving average of $27.11 and a 200-day simple moving average of $24.81. The company has a current ratio of 8.53, a quick ratio of 8.53 and a debt-to-equity ratio of 1.86. American Assets Trust, Inc. has a twelve month low of $18.44 and a twelve month high of $28.96.

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. This represents a $1.34 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date is Thursday, December 5th. American Assets Trust’s dividend payout ratio is presently 147.25%.

Analyst Ratings Changes

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

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.