Bank of New York Mellon Corp Sells 10,910 Shares of American Assets Trust, Inc. (NYSE:AAT)

Bank of New York Mellon Corp reduced its stake in American Assets Trust, Inc. (NYSE:AAT) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 487,625 shares of the real estate investment trust’s stock after selling 10,910 shares during the period. Bank of New York Mellon Corp owned about 0.80% of American Assets Trust worth $12,805,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp increased its stake in shares of American Assets Trust by 15.0% in the third quarter. Van ECK Associates Corp now owns 9,457 shares of the real estate investment trust’s stock worth $260,000 after buying an additional 1,232 shares during the period. QRG Capital Management Inc. purchased a new position in shares of American Assets Trust in the third quarter valued at about $228,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of American Assets Trust by 25.0% during the third 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 acquiring an additional 3,607 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of American Assets Trust by 5.1% during the third quarter. Intech Investment Management LLC now owns 11,893 shares of the real estate investment trust’s stock worth $318,000 after purchasing an additional 582 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of American Assets Trust by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,684 shares of the real estate investment trust’s stock worth $39,404,000 after purchasing an additional 35,688 shares during the period. Institutional investors own 90.43% of the company’s stock.

American Assets Trust Stock Performance

NYSE:AAT opened at $20.21 on Thursday. 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 firm’s fifty day simple moving average is $23.34 and its 200 day simple moving average is $25.80. The stock has a market cap of $1.24 billion, a P/E ratio of 22.71 and a beta of 1.33. American Assets Trust, Inc. has a twelve month low of $20.01 and a twelve month high of $29.15.

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

American Assets Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.34 per share. This is an increase from American Assets Trust’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.73%. American Assets Trust’s dividend payout ratio is 152.81%.

Analyst Ratings Changes

Separately, Mizuho lowered their price target on American Assets Trust from $28.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th.

American Assets Trust Company 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.