Cornercap Investment Counsel Inc. Sells 18,508 Shares of American Assets Trust, Inc. (NYSE:AAT)

Cornercap Investment Counsel Inc. trimmed its stake in American Assets Trust, Inc. (NYSE:AAT) by 46.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,225 shares of the real estate investment trust’s stock after selling 18,508 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in American Assets Trust were worth $567,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Custom Index Systems LLC grew 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 purchasing an additional 463 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in 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 purchasing an additional 488 shares during the period. The Manufacturers Life Insurance Company grew its holdings in American Assets Trust by 2.2% in the second quarter. The Manufacturers Life Insurance Company now owns 27,052 shares of the real estate investment trust’s stock worth $605,000 after purchasing an additional 571 shares during the period. ProShare Advisors LLC grew its holdings in American Assets Trust by 7.4% in the first quarter. ProShare Advisors LLC now owns 9,841 shares of the real estate investment trust’s stock worth $216,000 after purchasing an additional 681 shares during the period. Finally, Texas Permanent School Fund Corp grew its holdings in American Assets Trust by 1.6% in the first quarter. Texas Permanent School Fund Corp now owns 42,636 shares of the real estate investment trust’s stock worth $934,000 after purchasing an additional 689 shares during the period. 90.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

American Assets Trust Stock Down 0.9 %

Shares of NYSE AAT opened at $27.00 on Friday. The stock has a market capitalization of $1.64 billion, a P/E ratio of 29.67 and a beta of 1.29. The company has a 50-day moving average price of $27.04 and a 200-day moving average price of $24.68. American Assets Trust, Inc. has a 1 year low of $18.44 and a 1 year high of $28.96. The company has a debt-to-equity ratio of 1.86, a current ratio of 8.53 and a quick ratio of 8.53.

American Assets Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date of this dividend is Thursday, December 5th. American Assets Trust’s dividend payout ratio is currently 147.25%.

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.