American Assets Trust, Inc. (NYSE:AAT) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. trimmed its holdings in shares of American Assets Trust, Inc. (NYSE:AAT) by 2.6% in the fourth quarter, Holdings Channel reports. The firm owned 40,590 shares of the real estate investment trust’s stock after selling 1,083 shares during the period. Cornercap Investment Counsel Inc.’s holdings in American Assets Trust were worth $914,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP purchased a new position in American Assets Trust during the 3rd quarter valued at about $21,609,000. Balyasny Asset Management L.P. boosted its holdings in American Assets Trust by 407.9% during the 1st quarter. Balyasny Asset Management L.P. now owns 1,382,781 shares of the real estate investment trust’s stock valued at $25,706,000 after acquiring an additional 1,110,530 shares during the period. Norges Bank purchased a new position in American Assets Trust during the 4th quarter valued at about $19,848,000. Nuveen Asset Management LLC boosted its holdings in American Assets Trust by 77.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,638,865 shares of the real estate investment trust’s stock valued at $31,466,000 after acquiring an additional 715,429 shares during the period. Finally, BlackRock Inc. boosted its holdings in American Assets Trust by 5.6% during the 1st quarter. BlackRock Inc. now owns 11,476,222 shares of the real estate investment trust’s stock valued at $213,343,000 after acquiring an additional 609,764 shares during the period. 90.43% of the stock is owned by institutional investors and hedge funds.

American Assets Trust Stock Performance

Shares of AAT opened at $20.55 on Tuesday. The stock has a 50-day simple moving average of $21.40 and a 200-day simple moving average of $20.96. The company has a debt-to-equity ratio of 1.47, a quick ratio of 2.93 and a current ratio of 2.93. The stock has a market capitalization of $1.25 billion, a PE ratio of 24.46 and a beta of 1.26. American Assets Trust, Inc. 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 announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were given a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 6.52%. The ex-dividend date of this dividend was Wednesday, March 6th. This is a positive change from American Assets Trust’s previous quarterly dividend of $0.33. American Assets Trust’s dividend payout ratio (DPR) is 159.52%.

Wall Street Analysts Forecast Growth

Separately, Mizuho decreased their price objective on American Assets Trust from $23.00 to $22.00 and set a “neutral” rating for the company in a research note 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.