American Assets Trust, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
October 25, 2022 at 04:22 pm EDT
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American Assets Trust, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 105.47 million compared to USD 93.8 million a year ago. Revenue was USD 111.02 million compared to USD 98.29 million a year ago. Net income was USD 12.77 million compared to USD 10.04 million a year ago. Basic earnings per share from continuing operations was USD 0.21 compared to USD 0.17 a year ago. Diluted earnings per share from continuing operations was USD 0.21 compared to USD 0.17 a year ago.
For the nine months, sales was USD 301.47 million compared to USD 262.57 million a year ago. Revenue was USD 316.65 million compared to USD 274.08 million a year ago. Net income was USD 33.88 million compared to USD 20.24 million a year ago. Basic earnings per share from continuing operations was USD 0.56 compared to USD 0.34 a year ago. Diluted earnings per share from continuing operations was USD 0.56 compared to USD 0.34 a year ago.
American Assets Trust, Inc. is a full service, vertically integrated and self-administered real estate investment trust (REIT). The Company owns, operates, acquires, and develops office, retail, multifamily and mixed-use properties in attractive, high-barrier-to-entry markets in Southern California, Northern California, Washington, Oregon, Texas, and Hawaii. It operates in four segments: office, retail, multifamily and mixed-use. The Company's office portfolio comprises approximately 4.1 million rentable square feet, and its retail portfolio comprises approximately 3.1 million rentable square feet. In addition, the Company owns one mixed-use property (including approximately 94,000 rentable square feet of retail space and a 369-room all-suite hotel) and 2,110 multifamily units. Its portfolio consists of twelve office properties; twelve retail shopping centers; a mixed-use property consisting of a 369-room all-suite hotel and a retail shopping center; and six multifamily properties.
AMERICAN ASSETS TRUST, INC. 
