---
schema_version: "secwatch.filing_event.v1"
accession: "0001500217-25-000029"
form_type: "8-K"
ticker: "AAT"
cik: "0001500217"
company_name: "American Assets Trust, Inc."
filed_at: "2025-04-29T23:59:59+00:00"
generated_at: "2026-05-23T03:45:06.847511+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# AAT Q1 net income $42.5M, FFO ex-items falls 10% YoY; same-store NOI up 3.1%

## Summary
- 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.

## SEC filing metadata
- accession: 0001500217-25-000029
- form_type: 8-K
- ticker: AAT
- cik: 0001500217
- company_name: American Assets Trust, Inc.
- filed_at: 2025-04-29T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- 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/1500217/000150021725000029/0001500217-25-000029-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1500217/000150021725000029/aat-20250429.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001500217-25-000029
- JSON: https://secwatch.observer/filing/0001500217-25-000029.json
- Plain text: https://secwatch.observer/filing/0001500217-25-000029.txt

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