American Assets Trust Q1 net income $16.1M, FFO $0.66 (+16% YoY); raises 2023 FFO guidance

American Assets Trust, Inc.

2023-Q1 EPS reported $0.27 revenue$107,754,000

Net income available to common stockholders $16.1M ($0.27 diluted); FFO per diluted share $0.66, up 16% YoY.
Same-store cash NOI increased 6.5% YoY; office cash leasing spreads +10.1%, retail +9.5%.
Raised 2023 FFO guidance to $2.23-$2.33 per share (midpoint $2.28), ~2% above initial midpoint.
Amended term loan increased to $225M, extended to Jan 2025, transitioned to SOFR; liquidity $487.3M.
Q2 dividend declared $0.33 per share, payable June 22, 2023.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

American Assets Trust, Inc. reported first quarter ended March 31, 2023 results: net income $16.1 million, EPS $0.27 per diluted share. Guidance raised.

Period: first quarter ended March 31, 2023
Net income: $16.1 million
EPS: $0.27 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

American Assets Trust, Inc. Reports First Quarter 2023 Financial Results Net income available to common stockholders of $16.1 million for the first quarter, or $0.27 per diluted share. Funds From Operations per diluted share increased 16% year-over-year for the first quarter to $0.66 per diluted share. Increased 2023 FFO per diluted share guidance to a range of $2.23 to $2.33 with a midpoint of $2.28.

View on SEC.gov

Browse all earnings releases →

American Assets Trust, Inc. filing history →

Source: SEC EDGAR

accession 0001500217-23-000030

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.