Wolverine Asset Management LLC Purchases 28,920 Shares of American Assets Trust, Inc. (NYSE:AAT)

Key Points

• Wolverine Asset Management LLC increased its stake in American Assets Trust by 1,014.4% in the first quarter, acquiring an additional 28,920 shares, which brought its total to 31,771 shares valued at approximately $640,000.
• The company plans to pay a quarterly dividend of $0.34 on September 18th, 2023, marking a 7.2% dividend yield, although its payout ratio stands at 117.24%.
• American Assets Trust's latest earnings report revealed an earnings per share (EPS) of $0.52, surpassing the consensus estimate of $0.49 and indicating a revenue of $107.93 million for the quarter.

Wolverine Asset Management LLC lifted its position in American Assets Trust, Inc. (NYSE:AAT - Free Report) by 1,014.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 31,771 shares of the real estate investment trust's stock after purchasing an additional 28,920 shares during the period. Wolverine Asset Management LLC owned about 0.05% of American Assets Trust worth $640,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of American Assets Trust in the fourth quarter worth approximately $63,000. Federated Hermes Inc. boosted its holdings in American Assets Trust by 62.7% in the fourth quarter. Federated Hermes Inc. now owns 2,827 shares of the real estate investment trust's stock valued at $74,000 after acquiring an additional 1,089 shares in the last quarter. State of Wyoming purchased a new position in American Assets Trust during the 4th quarter valued at $101,000. US Bancorp DE increased its position in American Assets Trust by 952.0% during the 1st quarter. US Bancorp DE now owns 10,415 shares of the real estate investment trust's stock valued at $210,000 after purchasing an additional 9,425 shares during the period. Finally, Retirement Planning Co of New England Inc. increased its position in American Assets Trust by 20.9% during the 1st quarter. Retirement Planning Co of New England Inc. now owns 10,600 shares of the real estate investment trust's stock valued at $213,000 after purchasing an additional 1,830 shares during the period. Institutional investors own 90.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AAT shares. Wall Street Zen downgraded shares of American Assets Trust from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Morgan Stanley reduced their price objective on shares of American Assets Trust from $24.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th.

American Assets Trust Stock Down 0.2%

Shares of AAT stock traded down $0.04 during mid-day trading on Friday, reaching $19.47. 63,616 shares of the company's stock traded hands, compared to its average volume of 419,644. American Assets Trust, Inc. has a 12 month low of $16.69 and a 12 month high of $29.15. The company has a market cap of $1.19 billion, a P/E ratio of 16.80 and a beta of 1.17. The company has a quick ratio of 3.55, a current ratio of 3.55 and a debt-to-equity ratio of 1.50. The company's 50-day moving average price is $19.99 and its 200-day moving average price is $20.24.

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, beating analysts' consensus estimates 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 firm had revenue of $107.93 million for the quarter, compared to analysts' expectations of $107.75 million. On average, equities analysts expect that American Assets Trust, Inc. will post 1.94 earnings per share for the current fiscal year.

American Assets Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date is Thursday, September 4th. American Assets Trust's payout ratio is 117.24%.

American Assets Trust 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.