Sumitomo Mitsui Trust Group Inc. Sells 2,352 Shares of American Assets Trust, Inc. (NYSE:AAT)

Sumitomo Mitsui Trust Group Inc. reduced its stake in American Assets Trust, Inc. (NYSE:AAT) by 4.2% during the third quarter, HoldingsChannel.com reports. The fund owned 52,996 shares of the real estate investment trust’s stock after selling 2,352 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in American Assets Trust were worth $1,416,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. NJ State Employees Deferred Compensation Plan bought a new stake in shares of American Assets Trust in the third quarter worth about $211,000. QRG Capital Management Inc. bought a new stake in American Assets Trust in the 3rd quarter worth approximately $228,000. Van ECK Associates Corp raised its holdings in shares of American Assets Trust by 15.0% during the 3rd quarter. Van ECK Associates Corp now owns 9,457 shares of the real estate investment trust’s stock worth $260,000 after acquiring an additional 1,232 shares in the last quarter. abrdn plc bought a new position in shares of American Assets Trust during the 3rd quarter valued at approximately $256,000. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of 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 valued at $940,000 after acquiring an additional 9,620 shares during the last quarter. Institutional investors own 90.43% of the company’s stock.

American Assets Trust Price Performance

NYSE:AAT opened at $27.84 on Wednesday. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 30.59 and a beta of 1.29. The company has a debt-to-equity ratio of 1.86, a current ratio of 8.53 and a quick ratio of 8.53. The business has a 50 day simple moving average of $27.11 and a 200-day simple moving average of $24.81. American Assets Trust, Inc. has a 1 year low of $18.44 and a 1 year high of $28.96.

American Assets Trust Dividend Announcement

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

Analyst Ratings Changes

AAT has been the topic of a number of recent research reports. Morgan Stanley upped their price target on shares of 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 target price 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 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.