American Assets Trust, Inc. Reports Earnings Results for the Third Quarter and Six Months Ended June 30, 2023
July 25, 2023 at 04:17 pm EDT
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American Assets Trust, Inc. reported earnings results for the third quarter and six months ended June 30, 2023. For the third quarter, the company reported sales was USD 103.9 million compared to USD 99.02 million a year ago. Revenue was USD 109.72 million compared to USD 104.16 million a year ago. Net income was USD 11.98 million compared to USD 10.58 million a year ago. Basic earnings per share from continuing operations was USD 0.2 compared to USD 0.18 a year ago. Diluted earnings per share from continuing operations was USD 0.2 compared to USD 0.18 a year ago.
For the six months, sales was USD 206.61 million compared to USD 196 million a year ago. Revenue was USD 217.48 million compared to USD 205.63 million a year ago. Net income was USD 28.12 million compared to USD 21.11 million a year ago. Basic earnings per share from continuing operations was USD 0.47 compared to USD 0.35 a year ago. Diluted earnings per share from continuing operations was USD 0.47 compared to USD 0.35 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. 
