American Assets Trust, Inc. (NYSE:AAT) Stake Reduced by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its stake in shares of American Assets Trust, Inc. (NYSE:AAT) by 7.8% during the third quarter, Holdings Channel reports. The institutional investor owned 244,329 shares of the real estate investment trust’s stock after selling 20,603 shares during the period. Principal Financial Group Inc.’s holdings in American Assets Trust were worth $6,528,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in AAT. QRG Capital Management Inc. acquired a new stake in shares of American Assets Trust during the third quarter worth approximately $228,000. Van ECK Associates Corp boosted its stake in American Assets Trust by 15.0% during the third quarter. Van ECK Associates Corp now owns 9,457 shares of the real estate investment trust’s stock worth $260,000 after buying an additional 1,232 shares in the last quarter. abrdn plc acquired a new position in American Assets Trust during the third quarter worth $256,000. DekaBank Deutsche Girozentrale grew its position in American Assets Trust by 37.6% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 35,179 shares of the real estate investment trust’s stock worth $940,000 after acquiring an additional 9,620 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of American Assets Trust by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,891 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 488 shares during the last quarter. Institutional investors and hedge funds own 90.43% of the company’s stock.

American Assets Trust Stock Performance

NYSE AAT opened at $27.84 on Wednesday. American Assets Trust, Inc. has a 52-week low of $18.44 and a 52-week high of $28.96. The company has a debt-to-equity ratio of 1.86, a quick ratio of 8.53 and a current ratio of 8.53. The company has a 50-day simple moving average of $27.11 and a 200 day simple moving average of $24.81. The company has a market capitalization of $1.70 billion, a PE ratio of 30.59 and a beta of 1.29.

American Assets Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 4.81%. The ex-dividend date of this dividend is Thursday, December 5th. American Assets Trust’s dividend payout ratio (DPR) is currently 147.25%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AAT shares. Morgan Stanley upped their price target on American Assets Trust from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Mizuho upped their price objective on shares of American Assets Trust from $22.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th.

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.