Boston, MA 09/15/2014 (wallstreetpr) – Real estate investment trust company, American Assets Trust, Inc (NYSE:AAT)’s Executive Chairman Ernest Rady has purchased 400,000 shares indirectly. This one insider transaction has completely reversed their one-year net trading activities to net buying from a selling position. This is also the biggest purchase in a year by the insider. However, this is the first transaction in the current month of September.
The American Assets Trust, Inc (NYSE:AAT)’s executive chairman has acquired 400,000 shares at the rate of $33.76 a share indirectly on September 12 for ICW from the open market by paying $13.5 million, according to Form 4 filing with the Securities and Exchange Commission on September 12.
The purchasing price indicates that the chairman has paid 12.9% premium from the yearly low price of $29.9 and 5.8% discount to the one-year high price of $35.84. Interestingly, he has purchased shares on a day when the stock dropped 2.9%.
Following the purchase, the chairman’s indirect holding from ICW has increased to 479,339 shares worth approximately $16.18 million while his direct holding continues to be 39,061 shares valued around $1.32 million. Rady’s indirect holding from others is over 5.47 million worth about $184.7 million.
The latest buying of shares by insiders happen after more than a month. The last acquisition of 10,000 shares was also done by Rady on August 8 through indirectly, as per Nasdaq data. At that time, he has bought shares at $34.63 a share, which was 87 cents a share more than the latest transaction price.
One-year Insider Activities
There were seven transactions of insider trading in the last three months, including the latest one. While six related to buying of 415,864 shares, only one transaction related to selling of 7,000 shares. As a result, there were net buying activities of 408,864 shares by the insiders in the last three-month period.
Similarly, there were 25 transactions of insider activities in the last one-year period. Of this, 15 belonged to buying of 512,803 shares while six transactions related to selling of 125,142 shares. Thus, there were net buying activities of 387,661 shares in the last 12-month period.