secwatch.observer — SEC 8-K summary
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Issuer:     American Assets Trust, Inc. (AAT)
CIK:        0001500217
Form:       8-K
Filed at:   2024-07-30T23:59:59+00:00
Accession:  0001500217-24-000043
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1500217/000150021724000043/0001500217-24-000043-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1500217/000150021724000043/aat-20240730.htm
  HTML page:      https://secwatch.observer/filing/0001500217-24-000043

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer