American Assets Tr Inc Stock Price, News & Analysis

American Assets Trust (NYSE:AAT) announced that it will release its second quarter 2022 earnings after market close on July 26, 2022. Following this, a conference call with senior management will be held on July 27, 2022, at 8:00 a.m. PT, accessible via a toll-free number. The company, a vertically integrated real estate investment trust based in San Diego, has over 50 years of experience in the real estate sector, managing significant portfolios of office, retail, and residential properties across the U.S.

American Assets Trust reported a net income of $10.5 million or $0.18 per diluted share for Q1 2022, a substantial increase from $1.3 million in Q1 2021. Funds From Operations (FFO) rose 50% year-over-year to $0.57 per diluted share. The company also increased its 2022 FFO guidance to $2.13 to $2.21 per diluted share. Notably, same-store cash Net Operating Income (NOI) increased 18.3% year-over-year. The company amended its credit facility, enhancing borrowing capacity to $400 million.

American Assets Trust (NYSE:AAT) will release its Q1 2022 earnings after market close on April 26, 2022. A conference call for the earnings announcement is scheduled for April 27, 2022, at 8:00 a.m. PT. Investors can access the call via a toll-free number or through a live audio webcast on the company's website. The company, based in San Diego, specializes in acquiring, developing, and managing real estate properties across the U.S., with a focus on high-barrier markets, boasting an office portfolio of 4.0 million rentable square feet and a retail portfolio of 3.1 million square feet.

American Assets Trust (NYSE: AAT) has finalized the acquisition of Bel-Spring 520 for approximately $45.5 million in cash. This multi-tenant office campus, located near downtown Bellevue, Washington, encompasses about 93,000 square feet and is currently 69% leased. The property offers amenities like a food market, conference center, and bike storage, with potential for improvements. The acquisition aligns with AAT's strategy to enhance its portfolio in high-demand markets.

American Assets Trust reported fourth quarter results with net income of $8.1 million, or $0.14 per diluted share, compared to $2.9 million in Q4 2020. For the full year, net income increased to $28.4 million, equating to $0.47 per share. Funds From Operations (FFO) surged 32% to $0.54 per share for Q4 and 6% to $2.00 for the year. The company announced a 7% dividend increase to $0.32 per share and guidance for 2022 FFO of $2.09 to $2.17 per share. Rent collection remains strong, with 100% office and significant retail collections.

American Assets Trust (NYSE: AAT) announced the tax treatment for its 2021 dividend distributions, totaling $1.16 per share. The dividends are classified as follows: $0.725785 as taxable ordinary dividends, with no foreign taxes incurred. Notably, the distribution dates include record dates of March 11, June 10, September 9, and December 9, 2021, with payable dates following shortly after. The Company invites stockholders to consult their tax advisors for specific treatment regarding these distributions.

American Assets Trust (NYSE:AAT) will release its fourth quarter and year-end 2021 earnings on February 8, 2022, post-market. A conference call for discussing these results is scheduled for February 9, 2022, at 8:00 a.m. PT. Interested parties can access the call through a toll-free number or an online audio webcast. The company is known for managing premier office, retail, and residential properties, holding approximately 3.9 million square feet in office space and 3.1 million square feet in retail. However, future performance remains uncertain due to potential effects from the COVID-19 pandemic.

American Assets Trust (NYSE:AAT) announced amendments to its credit agreement on January 5, 2022. Key changes include an increase in the revolving line of credit from $350M to $400M and an extension of the maturity date to January 5, 2026. Additionally, the $100M term loan's maturity was extended to January 5, 2027. The agreement reduces pricing spreads and transitions borrowing rates from LIBOR to the Secured Overnight Financing Rate (SOFR). This financial strategy positions the company for improved liquidity and stability amid ongoing market uncertainties.

American Assets Trust reported a net income of $10.0 million for Q3 2021, equating to $0.17 per diluted share, and a total net income of $20.2 million for the first nine months. Funds From Operations (FFO) increased 30% year-over-year for Q3, reaching $0.57 per diluted share. The company acquired two properties in Bellevue, Washington for a total of $209 million. Same-store cash NOI rose 14.3% for Q3. The company has declared a $0.30 dividend per share for Q3 and Q4 2021, with a liquidity of $521.9 million.