American Assets Trust, Inc (NYSE:AAT) announced a quarterly dividend on Wednesday, February 13th, Wall Street Journal reports. Investors of record on Thursday, March 14th will be given a dividend of 0.28 per share by the real estate investment trust on Thursday, March 28th. This represents a $1.12 annualized dividend and a yield of 2.55%. The ex-dividend date is Wednesday, March 13th.
American Assets Trust has raised its dividend payment by an average of 4.8% per year over the last three years. American Assets Trust has a payout ratio of 54.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect American Assets Trust to earn $2.18 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 51.4%.
AAT stock opened at $43.97 on Thursday. American Assets Trust has a 12 month low of $30.62 and a 12 month high of $44.25. The firm has a market capitalization of $2.08 billion, a P/E ratio of 22.90, a price-to-earnings-growth ratio of 3.81 and a beta of 0.35. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 1.57.
In other news, CEO Ernest S. Rady acquired 9,626 shares of the company’s stock in a transaction on Wednesday, November 21st. The shares were bought at an average cost of $39.75 per share, with a total value of $382,633.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Ernest S. Rady acquired 19,627 shares of the company’s stock in a transaction on Monday, November 19th. The stock was purchased at an average cost of $39.42 per share, for a total transaction of $773,696.34. The disclosure for this purchase can be found here. Insiders acquired a total of 81,079 shares of company stock worth $3,262,215 over the last three months. 37.90% of the stock is currently owned by corporate insiders.
Several equities analysts have issued reports on the stock. Mizuho reissued a “buy” rating and issued a $44.00 price objective on shares of American Assets Trust in a research note on Tuesday, January 8th. Zacks Investment Research raised shares of American Assets Trust from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Monday, December 24th. Morgan Stanley boosted their price objective on shares of American Assets Trust from $40.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, December 17th. Finally, ValuEngine raised shares of American Assets Trust from a “hold” rating to a “buy” rating in a research note on Saturday, December 1st. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $42.60.
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About American Assets Trust
American Assets Trust, Inc (the company) is a full service, vertically integrated and self-administered real estate investment trust, or REIT, headquartered in San Diego, California. The company has over 50 years of experience in acquiring, improving, developing and managing premier retail, office 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, Oregon, Washington, Texas and Hawaii.
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