American Assets Trust, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 24, 2023 at 04:22 pm EDT
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American Assets Trust, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 105.49 million compared to USD 105.47 million a year ago. Revenue was USD 111.2 million compared to USD 111.02 million a year ago. Net income was USD 11.78 million compared to USD 12.77 million a year ago. Basic earnings per share from continuing operations was USD 0.2 compared to USD 0.21 a year ago. Diluted earnings per share from continuing operations was USD 0.2 compared to USD 0.21 a year ago.
For the nine months, sales was USD 312.11 million compared to USD 301.47 million a year ago. Revenue was USD 328.67 million compared to USD 316.65 million a year ago. Net income was USD 39.9 million compared to USD 33.88 million a year ago. Basic earnings per share from continuing operations was USD 0.66 compared to USD 0.56 a year ago. Diluted earnings per share from continuing operations was USD 0.66 compared to USD 0.56 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. 
