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. reports recurring developments for a self-administered, vertically integrated real estate investment trust focused on office, retail, multifamily and mixed-use properties. Company updates commonly cover funds from operations, same-store cash net operating income, leasing activity, occupancy trends, base rent metrics and portfolio performance across markets including California, Washington, Oregon, Texas and Hawaii.
News also includes dividend distribution tax classifications, earnings-call schedules and capital-structure actions such as amendments to unsecured credit facilities. The company’s mixed-use exposure includes retail space and a hotel component, while its residential disclosures include multifamily units and apartment rent information.
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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