American Assets Trust (NYSE:AAT) Trading Down 6.1% – Here’s What Happened

Shares of American Assets Trust, Inc. (NYSE:AAT) dropped 6.1% during mid-day trading on Wednesday . The company traded as low as $22.48 and last traded at $22.57. Approximately 22,108 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 275,721 shares. The stock had previously closed at $24.02.

Analyst Ratings Changes

AAT has been the subject of a number of recent analyst reports. Mizuho increased their price objective on American Assets Trust from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Morgan Stanley upped their target price on American Assets Trust from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th.

American Assets Trust Price Performance

The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 24.61 and a beta of 1.30. The company has a quick ratio of 8.53, a current ratio of 8.53 and a debt-to-equity ratio of 1.86. The business has a 50-day simple moving average of $25.97 and a two-hundred day simple moving average of $26.39.

American Assets Trust (NYSE:AAT) last announced its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.41. American Assets Trust had a return on equity of 5.08% and a net margin of 12.76%. As a group, research analysts predict that American Assets Trust, Inc. will post 2.53 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Adam Wyll sold 30,238 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $28.22, for a total value of $853,316.36. Following the completion of the sale, the chief operating officer now owns 45,595 shares in the company, valued at $1,286,690.90. This represents a 39.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 37.32% of the company’s stock.

Hedge Funds Weigh In On American Assets Trust

A number of hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC increased its position in American Assets Trust by 2.3% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 17,076 shares of the real estate investment trust’s stock valued at $456,000 after acquiring an additional 388 shares during the period. Daiwa Securities Group Inc. increased its position in American Assets Trust by 3.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 15,504 shares of the real estate investment trust’s stock valued at $414,000 after acquiring an additional 446 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in American Assets Trust by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,891 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 488 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of American Assets Trust by 2.2% during the second quarter. The Manufacturers Life Insurance Company now owns 27,052 shares of the real estate investment trust’s stock worth $605,000 after buying an additional 571 shares during the period. Finally, Intech Investment Management LLC increased its position in shares of American Assets Trust by 5.1% during the third quarter. Intech Investment Management LLC now owns 11,893 shares of the real estate investment trust’s stock worth $318,000 after buying an additional 582 shares during the period. 90.43% of the stock is owned by institutional investors and hedge funds.

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.