Title: American Assets Trust Inc. Common Stock: Listing Requirements and Voting Shares

Are you considering investing in American Assets Trust Inc. (AAT) common stock? If so, understanding the listing requirements and the structure of voting shares is crucial. This article delves into the key aspects of AAT's common stock, highlighting the listing requirements and the voting rights associated with it.

Understanding American Assets Trust Inc.

American Assets Trust Inc. (AAT) is a real estate investment trust (REIT) based in Los Angeles, California. The company focuses on owning, operating, and developing high-quality commercial real estate properties. As a REIT, AAT is required to distribute at least 90% of its taxable income to shareholders annually, which can make it an attractive investment for income-seeking investors.

Listing Requirements

To be listed on a major stock exchange, a company like AAT must meet certain listing requirements. These requirements are put in place to ensure that the company has sufficient financial stability and market liquidity. Here are the key listing requirements for AAT's common stock:

1. Minimum Market Capitalization: AAT must maintain a minimum market capitalization of $75 million.
2. Minimum Shareholder Equity: The company must have a minimum shareholder equity of $50 million.
3. Minimum Shareholder Ownership: A minimum of 200 shareholders is required to list the common stock.
4. Minimum Trading Volume: AAT must have a minimum trading volume of 100,000 shares per day for at least 30 of the last 60 trading days.

Voting Shares

Voting shares are a critical aspect of common stock, as they give shareholders the right to vote on important corporate matters. In the case of AAT, the voting rights are structured as follows:

1. Class A Common Stock: This class of stock carries no voting rights.
2. Class B Common Stock: Holders of this class of stock have 10 votes per share.

The dual-class structure of AAT's common stock provides significant voting power to the founders and early investors. This structure has both advantages and disadvantages. On one hand, it allows the company to maintain strategic control and focus on long-term growth. On the other hand, it can dilute the voting power of public shareholders.

Case Study: Voting Rights at AAT

A notable example of the voting rights structure at AAT is the company's 2017 merger with Macerich. The merger resulted in AAT becoming the largest publicly traded owner and operator of shopping centers in the United States. During the merger process, the dual-class structure of AAT's common stock played a crucial role in ensuring that the founders and early investors maintained control of the company.

Conclusion

Understanding the listing requirements and voting rights associated with American Assets Trust Inc. common stock is essential for potential investors. By familiarizing yourself with these aspects, you can make a more informed decision when considering an investment in AAT. Always remember to conduct thorough research and consult with a financial advisor before making any investment decisions.