---
schema_version: "secwatch.filing_event.v1"
accession: "0001500217-23-000030"
form_type: "8-K"
ticker: "AAT"
cik: "0001500217"
company_name: "American Assets Trust, Inc."
filed_at: "2023-04-25T23:59:59+00:00"
generated_at: "2026-06-16T16:09:17.810452+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001500217-23-000030
- form_type: 8-K
- ticker: AAT
- cik: 0001500217
- company_name: American Assets Trust, Inc.
- filed_at: 2023-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1500217/000150021723000030/0001500217-23-000030-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1500217/000150021723000030/aat-20230425.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001500217-23-000030
- JSON: https://secwatch.observer/filing/0001500217-23-000030.json
- Plain text: https://secwatch.observer/filing/0001500217-23-000030.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1500217/000150021723000030/0001500217-23-000030-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.