American Assets Trust, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 06, 2024 at 04:21 pm EST
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American Assets Trust, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 107.27 million compared to USD 101.04 million a year ago. Revenue was USD 112.49 million compared to USD 106 million a year ago. Net income was USD 10.48 million compared to USD 9.63 million a year ago. Basic earnings per share from continuing operations was USD 0.17 compared to USD 0.16 a year ago. Diluted earnings per share from continuing operations was USD 0.17 compared to USD 0.16 a year ago.
For the full year, sales was USD 419.37 million compared to USD 402.51 million a year ago. Revenue was USD 441.16 million compared to USD 422.65 million a year ago. Net income was USD 50.38 million compared to USD 43.51 million a year ago. Basic earnings per share from continuing operations was USD 0.84 compared to USD 0.72 a year ago. Diluted earnings per share from continuing operations was USD 0.84 compared to USD 0.72 a year ago.
American Assets Trust, Inc. is a full service, vertically integrated and self-administered real estate investment trust (REIT). The Company owns, operates, acquires, and develops office, retail, multifamily and mixed-use properties in attractive, high-barrier-to-entry markets in Southern California, Northern California, Washington, Oregon, Texas, and Hawaii. It operates in four segments: office, retail, multifamily and mixed-use. The Company's office portfolio comprises approximately 4.1 million rentable square feet, and its retail portfolio comprises approximately 3.1 million rentable square feet. In addition, the Company owns one mixed-use property (including approximately 94,000 rentable square feet of retail space and a 369-room all-suite hotel) and 2,110 multifamily units. Its portfolio consists of twelve office properties; twelve retail shopping centers; a mixed-use property consisting of a 369-room all-suite hotel and a retail shopping center; and six multifamily properties.
AMERICAN ASSETS TRUST, INC. 
