American Assets Trust, Inc. (NYSE:AAT) announced a quarterly dividend on Wednesday, November 1st, Wall Street Journal reports. Shareholders of record on Thursday, December 7th will be given a dividend of 0.27 per share by the real estate investment trust on Thursday, December 21st. This represents a $1.08 annualized dividend and a yield of 2.78%. The ex-dividend date is Wednesday, December 6th. This is a positive change from American Assets Trust’s previous quarterly dividend of $0.26.
American Assets Trust has raised its dividend payment by an average of 5.9% annually over the last three years. American Assets Trust has a dividend payout ratio of 51.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect American Assets Trust to earn $2.22 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 46.8%.
American Assets Trust (NYSE:AAT) last issued its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.01). The business had revenue of $77.11 million during the quarter. American Assets Trust had a net margin of 10.90% and a return on equity of 3.97%.
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Several research analysts have weighed in on the company. Zacks Investment Research upgraded American Assets Trust from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Friday, July 14th. BidaskClub upgraded American Assets Trust from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. TheStreet downgraded American Assets Trust from a “b-” rating to a “c+” rating in a report on Wednesday, July 26th. Finally, Bank of America Corporation downgraded American Assets Trust from a “buy” rating to a “neutral” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $46.33.
In other American Assets Trust news, CEO Ernest S. Rady purchased 52,778 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was bought at an average cost of $40.17 per share, for a total transaction of $2,120,092.26. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ernest S. Rady acquired 46,508 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were purchased at an average price of $40.00 per share, with a total value of $1,860,320.00. The disclosure for this purchase can be found here. Insiders acquired a total of 424,319 shares of company stock valued at $17,117,491 over the last quarter. 34.15% of the stock is currently owned by insiders.
About American Assets Trust
American Assets Trust, Inc is a full service, vertically integrated and self-administered real estate investment trust (REIT). The Company owns, operates, acquires and develops retail, office, multifamily and mixed-use properties in Southern California, Northern California, Oregon, Washington, Texas and Hawaii markets.
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