American Assets Tr Inc Stock Price, News & Analysis

American Assets Trust reported a net income of $16.1 million ($0.27 per diluted share) for Q1 2023, up from $10.5 million ($0.18) in Q1 2022. Funds From Operations (FFO) per diluted share rose 16% year-over-year to $0.66, driven by a $6.3 million net settlement and increased revenues across segments including multifamily and retail. The company has raised its 2023 FFO guidance to a range of $2.23 to $2.33 per share, with a midpoint of $2.28. Leasing activities saw approximately 56,000 square feet of office space leased at a 23% increase in rent, while retail leasing increased by 28%. Despite facing higher interest expenses and general administrative costs, the company maintained a solid liquidity position with $487.3 million available.

American Assets Trust, Inc. (NYSE:AAT) will release its first quarter 2023 earnings on April 25, 2023, after market close. A conference call is scheduled for April 26, 2023, at 8:00 a.m. PT, allowing investors to discuss the results. The company operates as a self-administered real estate investment trust with a portfolio that includes approximately 4.1 million rentable square feet in office space and 3.1 million in retail, alongside multifamily units and a mixed-use property. With over 50 years of experience, American Assets Trust maintains a strong presence in key U.S. markets, focusing on high-barrier real estate sectors.

American Assets Trust reported a net income of $9.6 million for Q4 2022, translating to $0.16 per diluted share. The full-year net income reached $43.5 million or $0.72 per diluted share, marking a substantial increase from 2021. Funds From Operations (FFO) rose by 4% for Q4 and 17% for the year, amounting to $0.56 and $2.34 per diluted share, respectively. The company announced a 3% increase in its quarterly dividend to $0.33 per share. 2023 guidance for FFO is set at $2.16 to $2.30 per diluted share, with a midpoint of $2.23. The company also amended its loan agreement, increasing borrowings and extending the loan maturity date.

American Assets Trust (AAT) announced the tax treatment of its 2022 dividend distributions. For the year, the total distribution per share was $1.28. The taxable ordinary dividend amounts are detailed as follows: $0.294804 for each dividend distribution, with no foreign taxes incurred in 2022. Key dates include record dates of March 10, June 9, September 8, and December 8, 2022, with payable dates following shortly after. Stockholders are advised to consult tax advisors regarding specific tax treatments related to these distributions.

American Assets Trust, Inc. (NYSE:AAT) will release its fourth quarter and year-end 2022 earnings on February 7, 2023, after market close. The company will hold a conference call on February 8, 2023, at 8:00 a.m. PT to discuss these results. The call can be accessed by dialing 1 (833) 630-1956. A live audio webcast will also be available through the company’s Investor Relations website, with a replay available an hour after the call concludes.