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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 (AAT) has announced the pricing of a public offering of $500 million in 3.375% senior notes due 2031. The notes were priced at 98.935% of the principal and will mature on February 1, 2031, with settlement expected on January 26, 2021. The proceeds will be allocated to the development of La Jolla Commons III, repayment of existing notes and borrowings, and general corporate purposes. This offering is made under an effective shelf registration statement with the SEC.
American Assets Trust reported a net income of $5.0 million for Q3 2020, down from $12.9 million in Q3 2019, resulting in $0.08 per diluted share. Funds From Operations (FFO) decreased by 23% year-over-year to $0.44 per diluted share. Same-store cash Net Operating Income (NOI) declined by 2.7% for Q3 2020 compared to the previous year. Rent collection improved to 89% in Q3 2020 from 83% in Q2 2020. The company declared a $0.25 dividend for Q4 2020, reflecting confidence in its rent collection.
American Assets Trust (NYSE:AAT) will announce its Q3 2020 earnings after the market closes on October 27, 2020. A conference call is scheduled for October 28, 2020, at 8:00 a.m. PT. The Company, a vertically integrated real estate investment trust, specializes in office, retail, and residential properties across high-demand markets in the U.S. Despite its extensive portfolio and experience, the Company warns that the ongoing COVID-19 pandemic may negatively impact its financial results and operations, highlighting the uncertainty surrounding future performance.
American Assets Trust, Inc. (NYSE:AAT) will announce its Q3 2020 earnings on October 27, 2020, after the market closes. A conference call will follow on October 28 at 8:00 a.m. PT. The company, headquartered in San Diego, operates as a vertically integrated real estate investment trust (REIT) with substantial portfolios in office, retail, and residential sectors across several states, including California and Hawaii. They manage over 6.5 million square feet of office and retail space and 2,112 multifamily units. Investors can access the call via toll-free numbers for live or replay listening.
American Assets Trust, Inc. (NYSE: AAT) will release its second quarter 2020 earnings on July 28, 2020, post-market close. A conference call is scheduled for July 29, 2020, at 8:00 a.m. PT, accessible via toll-free number 1 (877) 868-5513, pass code 4494304. A telephonic replay will be available from July 29, 2020, at 2:00 p.m. PT through August 5, 2020. The Company is a vertically integrated real estate investment trust (REIT) with a portfolio of approximately 3.4 million square feet of office and 3.1 million square feet of retail properties across dynamic markets in the U.S.
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