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Friday, Apr 12, 2024
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Revenue, Net Income Rise at American Assets Trust

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.

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