American Assets Trust Inc. (NYSE: AAT) saw revenue and net income rise from a year ago in its first quarter ending March 31.
Total revenue topped $63.9 million, up from $62.1 million in the year-ago quarter, and net income attributable to common stockholders was $4.6 million, compared with $3.2 million a year ago, officials of the San Diego-based real estate investment trust reported.
Funds from operations, an industry-recognized supplemental metric gauging the performance of real estate portfolios, rose 5 percent from a year ago, reaching $22.9 million for the quarter.
Headquartered in Carmel Valley, American Assets Trust invests in retail, office, multifamily, mixed-use and hotel properties, primarily on the West Coast. Its gross real estate assets totaled approximately $2 billion as of March 31.