earnings
confidence high
sentiment positive
materiality 0.75
AAT Q1 FFO $0.57 (+50% YoY), same-store cash NOI +18.3%, raises 2022 FFO guidance
American Assets Trust, Inc.
2022-Q1 EPS reported
$0.18
revenue$101,470,000
- Net income $10.5M ($0.18/dil share); FFO $0.57/dil share (+50% YoY).
- Same-store cash NOI increased 18.3% YoY; office leased 91.5%, retail 92.2%.
- Acquired Bel-Spring 520 office campus in Bellevue, WA for ~$46M on March 8.
- Raised 2022 FFO guidance to $2.13-$2.21 per share (midpoint $2.17, +2%).
- Amended credit facility to $400M revolving line; maturities extended to 2026/2027.