secwatch.observer — SEC 8-K summary
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Issuer:     American Assets Trust, Inc. (AAT)
CIK:        0001500217
Form:       8-K
Filed at:   2025-04-29T23:59:59+00:00
Accession:  0001500217-25-000029
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1500217/000150021725000029/0001500217-25-000029-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1500217/000150021725000029/aat-20250429.htm
  HTML page:      https://secwatch.observer/filing/0001500217-25-000029

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