American Assets Trust, Inc. (NYSE:AAT) to Issue Dividend Increase – $0.34 Per Share

American Assets Trust, Inc. (NYSE:AAT) announced a quarterly dividend on Wednesday, February 5th,Wall Street Journal reports. Investors of record on Thursday, March 6th will be given a dividend of 0.34 per share by the real estate investment trust on Thursday, March 20th. This represents a $1.36 annualized dividend and a yield of 6.07%. The ex-dividend date of this dividend is Thursday, March 6th. This is a boost from American Assets Trust’s previous quarterly dividend of $0.34.

American Assets Trust has increased its dividend payment by an average of 22.7% per year over the last three years. American Assets Trust has a payout ratio of 148.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect American Assets Trust to earn $2.29 per share next year, which means the company should continue to be able to cover its $1.34 annual dividend with an expected future payout ratio of 58.5%.

American Assets Trust Stock Down 6.7 %

Shares of AAT stock traded down $1.62 during mid-day trading on Wednesday, reaching $22.40. 296,552 shares of the company’s stock traded hands, compared to its average volume of 286,629. American Assets Trust has a 12 month low of $20.03 and a 12 month high of $29.15. The company has a market cap of $1.36 billion, a P/E ratio of 24.62 and a beta of 1.30. The company has a quick ratio of 8.53, a current ratio of 8.53 and a debt-to-equity ratio of 1.86. The company’s 50-day moving average price is $25.97 and its 200-day moving average price is $26.39.

American Assets Trust (NYSE:AAT) last posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.41. American Assets Trust had a return on equity of 5.08% and a net margin of 12.76%. On average, equities analysts expect that American Assets Trust will post 2.53 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Adam Wyll sold 30,238 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $28.22, for a total value of $853,316.36. Following the transaction, the chief operating officer now owns 45,595 shares in the company, valued at approximately $1,286,690.90. This represents a 39.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 37.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AAT shares. Mizuho increased their price objective on shares of American Assets Trust from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Morgan Stanley raised their price target on American Assets Trust from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th.

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.