American Assets Tr Inc Stock Price, News & Analysis

American Assets Trust (NYSE: AAT) has acquired Corporate Campus East III, a multi-tenant office campus in Bellevue, Washington, for approximately $84 million in cash. The property spans 161,000 square feet and is 86% leased to a diverse tenant base with below-market lease rates. Recent renovations enhance its appeal and potential for future growth. This acquisition reinforces the company's strategy to expand its portfolio in dynamic markets, leveraging its expertise in real estate management.

American Assets Trust, Inc. (NYSE: AAT) reported Q2 2021 net income of $8.9 million, or $0.15 per diluted share, compared to $7.7 million in Q2 2020. Funds From Operations (FFO) rose 6% year-over-year to $0.51 per diluted share, while decreasing 14% for the six months to $0.89. Same-store cash NOI increased 23.3% for Q2. Rent collection remained strong, with 99% for office and 94% for multifamily. The company completed the $125 million acquisition of Eastgate Office Park. A quarterly dividend of $0.30 is scheduled for September 23, 2021.

American Assets Trust (AAT) has completed the acquisition of Eastgate Office Park in Bellevue, Washington, for $125 million. The property spans approximately 280,000 square feet and is over 95% leased with a diverse tenant base. The acquisition presents significant development opportunities following recent municipal rezoning approvals, which will double the floor area ratio. The company aims to leverage this property to enhance its portfolio in a competitive submarket.

American Assets Trust (NYSE:AAT) will announce its second quarter 2021 earnings after the market closes on July 27, 2021. A conference call is scheduled for July 28, 2021, at 8:00 a.m. PT, with details provided for toll-free access. The live audio webcast will be available on the company’s investor relations page. As a vertically integrated REIT, American Assets Trust has a diverse portfolio, managing over 6.5 million square feet of office and retail space across key U.S. markets. The company emphasizes its substantial experience and market knowledge, developed over its 50 years in the real estate sector.

American Assets Trust (NYSE: AAT) announced its acquisition of Eastgate Office Park in Bellevue, Washington, for $125 million. This 280,000 sq. ft. office campus is over 95% leased and features a weighted average lease term of approximately 3 years. The property has received municipal approval for rezoning, enhancing its development potential. The transaction will be funded with cash on hand, although no assurances can be made regarding its completion. This acquisition reflects American Assets Trust's continued strategy to expand its portfolio in key markets.

American Assets Trust reported a net income of $1.3 million, or $0.02 per diluted share for Q1 2021, a decline from $12.1 million or $0.20 per share in Q1 2020. Funds From Operations (FFO) decreased 32% year-over-year to $0.38 per diluted share. Same-store cash NOI dropped 4.5%. Despite challenges, rent collection improved to 93% from 92% in Q4 2020, with 99% office rent collected. The company closed a $500 million bond offering and maintains strong liquidity of $730.4 million, with no maturing debt obligations in 2021.

American Assets Trust, Inc. (NYSE:AAT) will announce its first quarter 2021 earnings on April 27, 2021, after market close. A conference call to discuss these results is scheduled for April 28, 2021, at 8:00 a.m. PT. The company, headquartered in San Diego, specializes in real estate investment, managing a diversified portfolio in high-barrier markets across the U.S. The firm has a total office portfolio of approximately 3.4 million square feet and retail space of about 3.1 million rentable square feet.

American Assets Trust reported a net income of $2.9 million for Q4 2020, down from $12.8 million in Q4 2019, leading to a diluted EPS of $0.05. The Funds From Operations (FFO) decreased by 27% to $0.41 per diluted share year-over-year. The company collected 92% of due rents in Q4, showing recovery compared to previous quarters. A $500 million bond offering was completed, facilitating the repayment of $150 million in senior notes. However, the same-store cash NOI decreased by 3.1% for both Q4 and the full year due to COVID-19 impacts.

American Assets Trust (NYSE: AAT) announced the tax treatment of its 2020 dividend distributions, revealing a total distribution of $1.00 per share. The dividends include $0.656084 as Taxable Ordinary Dividend and $0.343916 as Return of Capital. Notably, no foreign taxes were incurred during 2020. The company, a self-administered real estate investment trust, manages a diversified portfolio of over 3.4 million square feet of office space and 3.1 million square feet of retail space across key U.S. markets.