American Assets Trust (NYSE:AAT) Posts Earnings Results, Misses Expectations By $0.35 EPS

American Assets Trust (NYSE:AAT) posted its quarterly earnings results on Tuesday. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.35), Yahoo Finance reports. The company had revenue of $110.70 million during the quarter, compared to analysts’ expectations of $106.39 million. American Assets Trust had a net margin of 11.42% and a return on equity of 4.31%. During the same quarter last year, the company earned $0.66 earnings per share. American Assets Trust updated its FY 2024 guidance to 2.240-2.340 EPS.

American Assets Trust Trading Up 2.3 %

AAT stock traded up $0.50 during midday trading on Wednesday, hitting $21.85. 75,599 shares of the company’s stock were exchanged, compared to its average volume of 296,333. The business has a 50-day simple moving average of $21.23 and a two-hundred day simple moving average of $21.16. The company has a current ratio of 2.93, a quick ratio of 2.93 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $1.33 billion, a PE ratio of 25.52 and a beta of 1.26. American Assets Trust has a 1-year low of $17.06 and a 1-year high of $23.92.

American Assets Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were given a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 6.13%. This is a positive change from American Assets Trust’s previous quarterly dividend of $0.33. The ex-dividend date was Wednesday, March 6th. American Assets Trust’s dividend payout ratio is presently 159.52%.

Analysts Set New Price Targets

Separately, Mizuho dropped their price target on American Assets Trust from $23.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, February 23rd.

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.