American Assets Trust Executive Chairman Ernest S. Rady bought 50,000 shares for about $1.1 million on Sept. 14, at $21.65 each. His beneficial holdings now total about 14.4 million shares, or 24% of the REIT, valued at $312.45 million at that day's close.
Rady had also bought nearly 600,000 shares a few weeks earlier, the article says. AAT's one-year total return was 4% as of Sept. 14; its shares closed at $21.79 on Sept. 16.
The article says American Assets Trust management cited strong multifamily rents, better-than-expected rent payments from delinquent business leases and strong tourism at its Hawaii hotel properties. The Motley Fool characterized Rady's buying as bullish.
