earnings
confidence high
sentiment neutral
materiality 0.75
AAT Q1 net income $42.5M, FFO ex-items falls 10% YoY; same-store NOI up 3.1%
American Assets Trust, Inc.
2025-Q1 EPS reported
$0.70
revenue$108,607,000
- Net income $42.5M ($0.70 diluted EPS) vs $19.3M ($0.32) prior year; gain on sale of Del Monte Center $44.5M.
- FFO per diluted share (ex-lease termination fees & litigation income) $0.52, down 10% from $0.58 in Q1 2024.
- Same-store cash NOI increased 3.1% YoY; office and retail leasing spreads positive (office cash +7.8%, retail cash +13.3%).
- Sold Del Monte Center for $123.5M on Feb 25; acquired Genesee Park apartments for $67.9M on Feb 28.
- Affirmed 2025 FFO guidance $1.87-$2.01 per share; declared Q2 dividend $0.34/share payable June 19.