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. (NYSE: AAT) is a San Diego, California-based real estate investment trust (REIT) that publicly reports on its office, retail, multifamily and mixed-use portfolio across high-barrier-to-entry markets in Southern California, Northern California, Washington, Oregon, Texas and Hawaii. This news page aggregates company announcements and earnings-related updates for investors tracking AAT stock.
Readers can find quarterly and year-end financial results where American Assets Trust, Inc. discusses net income available to common stockholders, funds from operations (FFO), FFO per diluted share, same-store cash net operating income (NOI), leasing spreads and portfolio leased percentages. The company also issues news releases announcing earnings release dates and conference call details, along with links to supplemental financial information made available on its investor-focused pages.
In addition to earnings, American Assets Trust, Inc. uses news releases to describe portfolio activity such as the sale of Del Monte Shopping Center in Monterey, California, and the acquisition of Genesee Park, a 192-unit apartment community in San Diego, California. Updates on development and redevelopment projects, as well as changes in occupancy and average rents across office, retail, multifamily and mixed-use segments, are also reflected in its reported metrics.
For investors and analysts following AAT news, this feed provides a single view of the company’s publicly released information on operating performance, leasing activity, guidance for funds from operations and capital allocation decisions such as acquisitions, dispositions and dividends. Regular review of these items can help users understand how American Assets Trust, Inc. describes the evolution of its real estate portfolio and financial profile over time.
American Assets Trust (NYSE:AAT) has announced the sale of Del Monte Shopping Center in Monterey, California for $123.5 million before closing prorations. The transaction represents a strategic move to optimize the company's portfolio and focus on markets offering greater economies of scale and operational efficiencies.
According to President and CEO Adam Wyll, the divestment aligns with AAT's long-term growth objectives and demonstrates the company's commitment to delivering strong results for stakeholders. The company expressed confidence in the new ownership's ability to continue building upon the shopping center's success.
American Assets Trust (NYSE: AAT) reported its Q4 and full-year 2024 financial results. Net income available to common stockholders was $9.0 million ($0.15 per diluted share) for Q4 and $56.8 million ($0.94 per diluted share) for the full year. FFO per diluted share decreased 4% to $0.55 in Q4 but increased 8% to $2.58 for the full year 2024.
The company's same-store cash NOI increased 2.6% and 1.4% year-over-year for Q4 and full-year 2024, respectively. During Q4, AAT leased approximately 57,000 comparable office square feet and 100,000 comparable retail square feet, with significant rent increases on a straight-line basis.
For 2025, AAT introduced annual FFO guidance with a midpoint of $1.94 per diluted share (range: $1.87-$2.01). The company maintains strong liquidity of $825.7 million, including $425.7 million in cash and $400.0 million available on its credit line.
American Assets Trust (NYSE: AAT) has disclosed the tax treatment of its 2024 dividend distributions for common stock shareholders. The company distributed a total of $1.34 per share through four quarterly payments of $0.335, each paid in March, June, September, and December 2024.
Of the total distribution, $1.092388 per share qualified as taxable ordinary dividends and Section 199A dividends, while $0.247612 per share was classified as return of capital. The company reported no long-term capital gains, unrecaptured Section 1250 gains, or foreign taxes for 2024.
American Assets Trust (NYSE:AAT) has scheduled its fourth quarter and year-end 2024 earnings release for Tuesday, February 4, 2025, after market close. The company will host a conference call to discuss the results on Wednesday, February 5, 2025, at 8:00 a.m. Pacific Time.
Investors can access the conference call by dialing 1 (833) 816-1162. A live webcast will be available on the company's investor relations website, with a replay accessible approximately one hour after the call concludes.
American Assets Trust (NYSE: AAT) reported strong Q3 2024 financial results with net income of $16.7 million ($0.28 per diluted share). Notable highlights include a 20% year-over-year increase in FFO to $0.71 per diluted share, and a 15.8% increase in same-store cash NOI. The company successfully leased approximately 58,000 office square feet and 125,000 retail square feet during Q3, with significant rent increases. AAT closed a $525 million public bond offering at 6.15% due 2034 and increased its 2024 FFO guidance to $2.51-$2.55 per share. The portfolio showed strong performance with office occupancy at 87%, retail at 94.5%, and multifamily at 90.3%.
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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