American Assets Trust: First Quarter Earnings Overview

SAN DIEGO (AP) _ American Assets Trust Inc. (AAT) announced a key measure of its first-quarter profitability on Tuesday. The results exceeded Wall Street expectations.

The San Diego-based real estate investment trust said it had operating funds of $43.8 million, or 57 cents per share, during the period.

The average estimate of three analysts polled by Zacks Investment Research was for funds from operations 52 cents per share.

Funds from operations is a closely watched metric in the REIT industry. It takes net income and adds items such as depreciation and amortization.


The company said it had net income of $10.5 million, or 18 cents per share.

The real estate investment trust recorded income of $101.5 million during the period.

American Assets Trust expects funds from operations for the full year to be $2.13 to $2.21 per share.

Shares of the company have fallen 4.5% since the start of the year. In the final minutes of trading on Tuesday, shares hit $35.85, an increase of nearly 4% over the past 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AAT at https://www.zacks.com/ap/AAT