American Assets Trust, Inc. (AAT) to Issue Quarterly Dividend of $0.34 on June 19th

American Assets Trust, Inc. (NYSE:AAT) declared a quarterly dividend on Wednesday, April 30th, Wall Street Journal reports. Investors of record on Thursday, June 5th will be given a dividend of 0.34 per share by the real estate investment trust on Thursday, June 19th. This represents a $1.36 annualized dividend and a yield of 6.74%. The ex-dividend date of this dividend is Thursday, June 5th.

American Assets Trust has increased its dividend payment by an average of 18.8% annually over the last three years and has increased its dividend every year for the last 4 years. American Assets Trust has a dividend payout ratio of 302.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect American Assets Trust to earn $2.48 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 54.8%.

American Assets Trust Stock Up 1.2%

Shares of American Assets Trust stock opened at $20.18 on Tuesday. The company’s 50 day moving average price is $19.16 and its 200-day moving average price is $22.55. American Assets Trust has a 52-week low of $16.69 and a 52-week high of $29.15. The company has a debt-to-equity ratio of 1.80, a quick ratio of 8.17 and a current ratio of 8.17. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 22.67 and a beta of 1.13.

American Assets Trust (NYSE:AAT) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.07. The company had revenue of $108.61 million for the quarter, compared to analysts’ expectations of $112.05 million. American Assets Trust had a return on equity of 4.98% and a net margin of 12.40%. Equities research analysts forecast that American Assets Trust will post 1.94 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Strs Ohio purchased a new position in shares of American Assets Trust during the first quarter valued at approximately $175,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of American Assets Trust by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,490 shares of the real estate investment trust’s stock worth $574,000 after purchasing an additional 1,240 shares during the last quarter. Royal Bank of Canada grew its position in American Assets Trust by 38.7% during the 1st quarter. Royal Bank of Canada now owns 33,674 shares of the real estate investment trust’s stock valued at $678,000 after purchasing an additional 9,393 shares during the last quarter. Finally, Jane Street Group LLC raised its holdings in American Assets Trust by 534.0% in the first quarter. Jane Street Group LLC now owns 158,297 shares of the real estate investment trust’s stock worth $3,188,000 after buying an additional 133,329 shares during the last quarter. 90.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Mizuho decreased their price objective on shares of American Assets Trust from $28.00 to $22.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Wall Street Zen upgraded shares of American Assets Trust from a “hold” rating to a “buy” rating in a research report on Saturday, May 24th. Finally, Morgan Stanley lowered their price objective on shares of American Assets Trust from $24.00 to $20.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th.

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.