---
schema_version: "secwatch.filing_event.v1"
accession: "0001500217-24-000043"
form_type: "8-K"
ticker: "AAT"
cik: "0001500217"
company_name: "American Assets Trust, Inc."
filed_at: "2024-07-30T23:59:59+00:00"
generated_at: "2026-05-31T15:15:18.701606+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# AAT Q2 FFO $0.60 (+2% YoY); raises 2024 guidance; CEO Rady to step down, Wyll appointed

## Summary
- Net income $11.9M ($0.20 EPS) for Q2; FFO $0.60/share, up 2% YoY.
- 2024 FFO guidance raised to $2.48-$2.54 (midpoint $2.51, a 9.6% increase over prior $2.29); includes $11M lease termination fee in Q3.
- Same-store cash NOI increased 2.1% in Q2; office leasing spreads cash +5.2%, retail cash +5.8%.
- CEO succession: Chairman/CEO Ernest Rady to become Executive Chairman effective Jan 1, 2025; President/COO Adam Wyll appointed CEO.
- Q3 dividend declared $0.335/share, payable Sept 19, 2024 (unchanged from Q2).

## SEC filing metadata
- accession: 0001500217-24-000043
- form_type: 8-K
- ticker: AAT
- cik: 0001500217
- company_name: American Assets Trust, Inc.
- filed_at: 2024-07-30T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1500217/000150021724000043/0001500217-24-000043-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1500217/000150021724000043/aat-20240730.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001500217-24-000043
- JSON: https://secwatch.observer/filing/0001500217-24-000043.json
- Plain text: https://secwatch.observer/filing/0001500217-24-000043.txt

## Key facts
- Executive change
  Ernest S. Rady changed role as Executive Chairman at American Assets Trust, Inc..
  - Action: transition
  - Role: Executive Chairman
  source text: On July 25, 2024, Ernest S. Rady, Chairman of the Board of Directors (the “Board”) and Chief Executive Officer of the Company, gave notice of his intention to transition from Chief Executive Officer to Executive Chairman effective as of January 1, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1500217/000150021724000043/0001500217-24-000043-index.htm
- Executive change
  Adam Wyll was appointed as Chief Executive Officer at American Assets Trust, Inc..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: On July 25, 2024, the Board appointed Adam Wyll, the Company’s President and Chief Operating Officer, to fill the role of Chief Executive Officer at the Company effective January 1, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1500217/000150021724000043/0001500217-24-000043-index.htm

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