Welcome to our dedicated page for American Assets Tr news (Ticker: AAT), a resource for investors and traders seeking the latest updates and insights on American Assets Tr stock.
American Assets Trust, Inc. (AAT) provides investors and market observers with essential updates through this centralized news hub. Track the REIT's latest developments across its retail, office, mixed-use, and multifamily property portfolios, with timely coverage of earnings announcements, strategic acquisitions, and operational milestones.
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Key content includes quarterly financial disclosures, leadership updates, sustainability initiatives, and portfolio rebalancing activities. All materials maintain factual reporting standards suitable for both institutional analysis and individual research needs.
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American Assets Trust, Inc. (NYSE:AAT) has announced its schedule for the release of third quarter 2024 earnings. The company will issue a press release after market close on Tuesday, October 29, 2024. Following this, senior management will host a conference call to discuss the earnings on Wednesday, October 30, 2024, at 8:00 a.m. Pacific Time.
Investors and interested parties can access the conference call by dialing 1 (833) 816-1162 and requesting to join the American Assets Trust, Inc. Conference Call. Additionally, a live on-demand audio webcast of the call will be available on the company's website in the 'Investor Relations' section. For those unable to attend the live call, a replay of the webcast will be accessible on the company's website approximately one hour after the call concludes.
American Assets Trust, Inc. (NYSE: AAT) has announced the pricing of $525 million aggregate principal amount of 6.150% senior notes due 2034 through its operating partnership. The notes, priced at 99.671% of the principal amount, will mature on October 1, 2034. The offering is expected to settle on September 17, 2024. AAT plans to use the net proceeds for:
- Repayment of Series B and C Senior Guaranteed Notes (approximately $200 million)
- Repayment of outstanding borrowings under the revolver loan (approximately $100 million)
- Working capital and general corporate purposes (remainder)
Wells Fargo Securities, Mizuho, and PNC Capital Markets are acting as joint book-running managers for this offering.
American Assets Trust (NYSE: AAT) reported its Q2 2024 financial results with net income of $11.9M ($0.20/diluted share) and $31.2M ($0.52/diluted share) for the three and six months ended June 30, 2024, respectively.
Funds from Operations (FFO) per diluted share increased by 2% and 6% year-over-year for the three and six months, reaching $0.60 and $1.32, respectively.
Company increased its 2024 FFO guidance to $2.48-$2.54 per diluted share, a 9.6% increase from prior guidance.
Same-store cash Net Operating Income (NOI) grew by 2.1% and 1.8% year-over-year for the three and six months ended June 30, 2024, excluding non-recurring costs.
Leasing: Signed 37 office and retail leases (164,700 sq ft) and 395 multifamily apartment leases in Q2. Notable rent increases: 15% office and 34% retail straight-line basis.
CEO Succession: Ernest Rady to transition to Executive Chairman and Adam Wyll to CEO effective Jan 1, 2025.
American Assets Trust (NYSE:AAT) announced it will release its second quarter 2024 earnings after the market closes on Tuesday, July 30, 2024. A conference call is scheduled for Wednesday, July 31, 2024, at 8:00 a.m. Pacific Time to discuss the results. Interested parties can join the call by dialing 1 (833) 816-1162. Additionally, a live on-demand audio webcast and replay will be available on the company's Investor Relations webpage.
American Assets Trust, Inc. reported a strong first quarter with net income of $19.3 million and FFO per diluted share of $0.71, an 8% increase year-over-year. The company raised its 2024 FFO guidance to $2.24-$2.34 per share, showing a 1% increase over prior guidance. Leasing activities saw positive growth, with significant increases in office and retail rental rates. The company maintains a healthy balance sheet with $498.6 million in liquidity and only one asset encumbered by a mortgage.
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