American Assets Trust, Inc. Announces Quarterly Dividend of $0.34 (NYSE:AAT)

Key Points

• American Assets Trust, Inc. announced a quarterly dividend of $0.34 per share, with a yield of 7.14%, and the ex-dividend date set for September 4th.
• The company currently has a dividend payout ratio of 302.2%, indicating reliance on its balance sheet to cover dividends, but expects to have a more sustainable payout ratio of 54.8% in the next fiscal year.
• Institutional investors own 90.41% of American Assets Trust, with significant increases in holdings reported by Royal Bank of Canada and Jane Street Group LLC during the first quarter.

American Assets Trust, Inc. (NYSE:AAT - Get Free Report) declared a quarterly dividend on Wednesday, July 30th, Wall Street Journal reports. Shareholders of record on Thursday, September 4th will be given a dividend of 0.34 per share by the real estate investment trust on Thursday, September 18th. This represents a c) dividend on an annualized basis and a yield of 7.3%. The ex-dividend date of this dividend is Thursday, September 4th.

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. 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 Down 1.8%

NYSE AAT traded down $0.34 during trading hours on Friday, reaching $18.70. 595,466 shares of the company traded hands, compared to its average volume of 382,045. American Assets Trust has a 12 month low of $16.69 and a 12 month high of $29.15. The company has a current ratio of 3.55, a quick ratio of 4.12 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $1.14 billion, a PE ratio of 16.12 and a beta of 1.17. The company has a 50 day moving average of $20.12 and a two-hundred day moving average of $20.56.

American Assets Trust (NYSE:AAT - Get Free Report) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.52 EPS for the quarter, topping the consensus estimate of $0.49 by $0.03. American Assets Trust had a net margin of 16.26% and a return on equity of 6.47%. The company had revenue of $107.93 million during the quarter, compared to analysts' expectations of $107.75 million. As a group, equities analysts expect that American Assets Trust will post 1.94 earnings per share for the current year.

Hedge Funds Weigh In On American Assets Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in American Assets Trust during the fourth quarter worth $63,000. Federated Hermes Inc. increased its holdings in American Assets Trust by 62.7% in the 4th quarter. Federated Hermes Inc. now owns 2,827 shares of the real estate investment trust's stock valued at $74,000 after buying an additional 1,089 shares during the period. State of Wyoming bought a new stake in shares of American Assets Trust in the 4th quarter worth about $101,000. CWM LLC grew its holdings in shares of American Assets Trust by 229.6% in the 2nd quarter. CWM LLC now owns 8,382 shares of the real estate investment trust's stock worth $166,000 after purchasing an additional 5,839 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of American Assets Trust in the 1st quarter worth about $175,000. Institutional investors own 90.41% of the company's stock.

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.