American Assets Trust, Inc. (NYSE:AAT) Sees Large Drop in Short Interest

American Assets Trust, Inc. (NYSE:AAT) was the recipient of a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 903,100 shares, a drop of 9.7% from the May 15th total of 1,000,000 shares. Based on an average daily volume of 280,500 shares, the days-to-cover ratio is currently 3.2 days. Approximately 2.0% of the shares of the company are short sold.

Hedge Funds Weigh In On American Assets Trust

Several hedge funds and other institutional investors have recently modified their holdings of the company. Federated Hermes Inc. acquired a new position in American Assets Trust during the 4th quarter worth approximately $25,000. Quadrant Capital Group LLC lifted its position in American Assets Trust by 265.6% during the 4th quarter. Quadrant Capital Group LLC now owns 2,837 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 2,061 shares in the last quarter. Van ECK Associates Corp lifted its position in American Assets Trust by 18.2% during the 3rd quarter. Van ECK Associates Corp now owns 6,477 shares of the real estate investment trust’s stock worth $126,000 after acquiring an additional 998 shares in the last quarter. Inspire Advisors LLC acquired a new position in American Assets Trust during the 1st quarter worth approximately $205,000. Finally, abrdn plc acquired a new position in American Assets Trust during the 4th quarter worth approximately $206,000. 90.43% of the stock is owned by institutional investors and hedge funds.

American Assets Trust Trading Up 1.1 %

AAT traded up $0.24 during midday trading on Tuesday, hitting $21.78. The company’s stock had a trading volume of 258,396 shares, compared to its average volume of 301,172. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 1.47. The firm has a market cap of $1.33 billion, a P/E ratio of 24.47 and a beta of 1.28. The firm has a 50-day moving average price of $21.53 and a two-hundred day moving average price of $21.87. American Assets Trust has a 52-week low of $17.15 and a 52-week high of $23.92.

American Assets Trust (NYSE:AAT) last posted its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.32 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.35). The business 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 12.05% and a return on equity of 4.60%. During the same quarter last year, the firm earned $0.66 EPS. On average, research analysts anticipate that American Assets Trust will post 2.28 earnings per share for the current year.

American Assets Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be paid a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 6.15%. The ex-dividend date is Thursday, June 6th. American Assets Trust’s dividend payout ratio is currently 150.56%.

Analyst Upgrades and Downgrades

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

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.