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Ernest Rady Buys American Assets Trust

- By Jennifer Chiou

Ernest Rady (Insider Trades), chairman, CEO and president of American Assets Trust Inc. (AAT), acquired 65,000 shares of the company on Sept. 12. The average price per share was $43.06, for a total transaction of $2,798,900. American Assets Trust Inc. is a full service, vertically integrated and self-administered real estate investment trust (REIT). The company has a market cap of $1.92 billion.

There is no noticeable trend in the number and volume of insider buys with the company from 2013 to 2015. In 2013, there were 6 insider buys totaling 26,000 shares. In comparison, there were 9 insider buys totaling 436,339 shares and 7 insider buys totaling 384,743 shares in 2014 and 2015. There were 4 transactions totaling 111,448 shares in 2016, to date, and including the aforementioned transaction, Rady conducted 3 out of the 4 transactions. Director Duane Nelles (Insider Trades) conducted the remaining transaction, purchasing 7,000 shares of AAT at an average per share price of $39.76. For more information about insider trades with AAT, click here.

AAT reported total revenue of $71.819 million for the quarter ended on June 30. Total revenue is up from $66.769 million reported in the previous year's second quarter. On the other hand, net income decreased from $12.284 million, or 20 cents per share, to $10.650 million, or 17 cents per share, when comparing the same periods of time. The company declared a dividend of 25 cents per share of common stock for the quarter ending Sept. 30. AAT was named on Forbes' 2016 "List of America's 50 Most Trustworthy Financial Companies". The companies named were assessed through accounting and governance behaviors, and chosen from nearly 700 publicly-traded North American financial companies with market caps greater than $250 million as of Dec. 31, 2015. Rady commented that the "recognition further supports [the company's] core values, transparency and accurate reporting to [its] stockholders." Annual revenue increased by 8.63% since 2011.

Jim Simons (Trades, Portfolio) and Paul Tudor Jones (Trades, Portfolio) both increased their stake in the company during the second quarter of 2016. Simons acquired 501 shares of the company for an average price per share of $40.16. Jones purchased 19,700 shares of the company, increasing his stake by 177.48%. For more information about guru trades with the company, click here.

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This article first appeared on GuruFocus.