Renaissance Technologies LLC Cuts Position in American Assets Trust, Inc. (NYSE:AAT)

Renaissance Technologies LLC reduced its stake in American Assets Trust, Inc. (NYSE:AAT) by 76.4% during the second quarter, HoldingsChannel.com reports. The firm owned 21,400 shares of the real estate investment trust’s stock after selling 69,100 shares during the quarter. Renaissance Technologies LLC’s holdings in American Assets Trust were worth $479,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in AAT. Custom Index Systems LLC raised its holdings in American Assets Trust by 4.5% in the second quarter. Custom Index Systems LLC now owns 10,697 shares of the real estate investment trust’s stock worth $239,000 after buying an additional 463 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of American Assets Trust by 7.4% during the first quarter. ProShare Advisors LLC now owns 9,841 shares of the real estate investment trust’s stock valued at $216,000 after buying an additional 681 shares during the last quarter. Texas Permanent School Fund Corp raised its position in American Assets Trust by 1.6% in the 1st quarter. Texas Permanent School Fund Corp now owns 42,636 shares of the real estate investment trust’s stock worth $934,000 after buying an additional 689 shares during the last quarter. Summit Global Investments lifted its stake in American Assets Trust by 2.6% during the 2nd quarter. Summit Global Investments now owns 39,225 shares of the real estate investment trust’s stock valued at $878,000 after acquiring an additional 1,008 shares during the period. Finally, Signaturefd LLC boosted its holdings in shares of American Assets Trust by 130.3% during the 2nd quarter. Signaturefd LLC now owns 1,872 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 1,059 shares during the last quarter. Hedge funds and other institutional investors own 90.43% of the company’s stock.

American Assets Trust Price Performance

NYSE AAT opened at $26.31 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 3.03 and a quick ratio of 3.03. American Assets Trust, Inc. has a 1-year low of $17.15 and a 1-year high of $27.79. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 29.56 and a beta of 1.30. The business’s fifty day moving average price is $26.23 and its 200-day moving average price is $23.54.

American Assets Trust (NYSE:AAT) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.33). American Assets Trust had a return on equity of 4.62% and a net margin of 12.00%. The firm had revenue of $110.89 million during the quarter, compared to analysts’ expectations of $107.66 million. During the same period in the previous year, the business posted $0.59 earnings per share. On average, equities analysts predict that American Assets Trust, Inc. will post 2.41 earnings per share for the current year.

American Assets Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th were given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date was Thursday, September 5th. American Assets Trust’s payout ratio is 150.56%.

Wall Street Analysts Forecast Growth

Separately, Mizuho increased their price objective on shares of American Assets Trust from $22.00 to $26.00 and gave the company a “neutral” rating in a research report on Monday, August 19th.

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.