American Assets Trust (NYSE:AAT) Posts Quarterly Earnings Results, Misses Estimates By $0.35 EPS

American Assets Trust (NYSE:AAT) released its quarterly earnings results on Tuesday. The real estate investment trust reported $0.32 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.35), Yahoo Finance reports. American Assets Trust had a return on equity of 4.31% and a net margin of 11.42%. During the same period in the prior year, the business earned $0.66 earnings per share. American Assets Trust updated its FY 2024 guidance to 2.240-2.340 EPS.

American Assets Trust Stock Down 1.7 %

American Assets Trust stock opened at $21.35 on Wednesday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 2.93 and a current ratio of 2.93. The business’s 50-day simple moving average is $21.23 and its two-hundred day simple moving average is $21.16. The company has a market cap of $1.30 billion, a PE ratio of 25.42 and a beta of 1.26. American Assets Trust has a fifty-two week low of $17.06 and a fifty-two week high of $23.92.

American Assets Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were paid a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 6.28%. The ex-dividend date of this dividend was Wednesday, March 6th. This is an increase from American Assets Trust’s previous quarterly dividend of $0.33. American Assets Trust’s payout ratio is presently 159.52%.

Wall Street Analyst Weigh In

Separately, Mizuho dropped their target price on American Assets Trust from $23.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, February 23rd.

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.