American Assets Trust, Inc. $AAT Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D has reduced its stake in American Assets Trust by 9.4%, holding 144,735 shares valued at approximately $2.9 million.
• Multiple institutional investors, including US Bancorp DE and Retirement Planning Co of New England, have increased their positions in American Assets Trust, indicating strong interest despite the pension fund's reduction.
• Recent analyst ratings show a downgrade of American Assets Trust's price target, with Mizuho and Morgan Stanley lowering it from $22.00 to $21.00 and from $24.00 to $20.00, respectively, and an average rating of "Hold."

State of New Jersey Common Pension Fund D trimmed its stake in American Assets Trust, Inc. (NYSE:AAT - Free Report) by 9.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 144,735 shares of the real estate investment trust's stock after selling 15,000 shares during the period. State of New Jersey Common Pension Fund D owned about 0.24% of American Assets Trust worth $2,915,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in AAT. Nuveen LLC purchased a new stake in shares of American Assets Trust in the 1st quarter valued at approximately $16,603,000. Wellington Management Group LLP increased its stake in American Assets Trust by 693.7% during the 4th quarter. Wellington Management Group LLP now owns 661,763 shares of the real estate investment trust's stock worth $17,378,000 after buying an additional 578,386 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in American Assets Trust during the 4th quarter worth approximately $4,829,000. Allianz Asset Management GmbH increased its stake in American Assets Trust by 20.4% during the 1st quarter. Allianz Asset Management GmbH now owns 893,652 shares of the real estate investment trust's stock worth $17,998,000 after buying an additional 151,541 shares during the period. Finally, Northern Trust Corp increased its stake in American Assets Trust by 16.0% during the 4th quarter. Northern Trust Corp now owns 856,868 shares of the real estate investment trust's stock worth $22,501,000 after buying an additional 118,315 shares during the period. 90.41% of the stock is owned by hedge funds and other institutional investors.

American Assets Trust Stock Down 0.5%

NYSE AAT traded down $0.11 on Tuesday, hitting $20.30. 348,320 shares of the stock were exchanged, compared to its average volume of 401,774. The company has a quick ratio of 3.55, a current ratio of 3.55 and a debt-to-equity ratio of 1.50. American Assets Trust, Inc. has a fifty-two week low of $16.69 and a fifty-two week high of $29.15. The company has a market cap of $1.24 billion, a PE ratio of 17.50 and a beta of 1.17. The company has a 50-day moving average price of $19.92 and a 200-day moving average price of $20.02.

American Assets Trust (NYSE:AAT - Get Free Report) last posted its quarterly 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. American Assets Trust has set its FY 2025 guidance at 1.890-2.010 EPS. Sell-side analysts anticipate that American Assets Trust, Inc. will post 1.94 EPS for the current fiscal year.

American Assets Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 6.7%. The ex-dividend date is Thursday, September 4th. American Assets Trust's payout ratio is 117.24%.

Wall Street Analysts Forecast Growth

AAT has been the topic of several recent research reports. Mizuho cut their target price on shares of American Assets Trust from $22.00 to $21.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 20th. Wall Street Zen downgraded shares of American Assets Trust from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $20.50.

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.