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Tuesday, Sep 27, 2022
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American Assets Trust Posts Increase in Revenue, Income

American Assets Trust Inc. reported revenue up 7.3 percent from a year ago for its second quarter ending June 30, reaching $66.7 million.

Officials of the San Diego-based real estate investment trust said net income attributable to stockholders was $8.7 million, up from $3.7 million in the year-ago quarter. Funds from operations, an industry-recognized supplemental metric gauging portfolio performance, rose 17 percent, to $27.5 million.

Headquartered in Carmel Valley, American Assets Trust (NYSE: AAT) invests in retail, office, multifamily, hotel and mixed-use properties, primarily in the western United States. The company reported gross real estate assets of $2.2 billion as of June 30.

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