Last $35.77 USD
Change Today +0.32 / 0.90%
Volume 103.0K
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As of 8:04 PM 07/28/14 All times are local (Market data is delayed by at least 15 minutes).

american assets trust inc (AAT) Snapshot

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07/28/14 - $35.84
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09/5/13 - $28.65
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american assets trust inc (AAT) Details

American Assets Trust, Inc. operates as a real estate investment trust in the United States. The company owns, operates, acquires, and develops retail, office, multifamily, and mixed-use properties primarily in southern California, northern California, and Hawaii. As of May 10, 2011, its property portfolio comprised approximately 3.0 million rentable square feet of retail space; approximately 1.8 million square feet of office space; 1 mixed-use property, including approximately 97,000 rentable square feet of retail space and a 369-room all-suite hotel; and approximately 900 multifamily units. The company was founded in 1967 and is based in San Diego, California.

120 Employees
Last Reported Date: 05/2/14
Founded in 1967

american assets trust inc (AAT) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $771.9K
Founder and Executive Chairman of The Board
Total Annual Compensation: $550.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $525.0K
Senior Vice President, General Counsel and Se...
Total Annual Compensation: $300.0K
Senior Vice President of Real Estate Operatio...
Total Annual Compensation: $210.0K
Compensation as of Fiscal Year 2013.

american assets trust inc (AAT) Key Developments

American Assets Trust, Inc. Presents at Morgan Stanley REIT Summit, Jun-23-2014

American Assets Trust, Inc. Presents at Morgan Stanley REIT Summit, Jun-23-2014 . Venue: Newport Beach, California, United States.

American Assets Mulls Acquisitions

American Assets Trust, Inc. (NYSE:AAT) is looking for acquisitions. John Chamberlain, Chief Executive Officer and President of American Assets said, "Although the company's balance sheet is strong and provides ample capacity to fund its in-process and existing development, we thought it was prudent to raise the additional cash on the balance sheet during the first quarter because it allows the company to maintain financial flexibility as we continue to pursue the following three things. One is accretive developments within our existing pipeline; secondly, accretive and opportunistic acquisitions similar to the City Center Bellevue acquisition that we acquired before the Bellevue market in Washington heated up. And thirdly, it allows us to maintain a conservative leverage profile as we continue to align our balance sheet with investment-grade metrics as we approach the investment grade market in 2015 subject to market conditions at that time".

American Assets Trust, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Declares Dividend on Common Stock for the Quarter Ending June 30, 2014, Payable on June 27, 2014; Reaffirms Funds from Operations Outlook for the Full Year 2014; Provides Funds from Operations Outlook for the Second Quarter of 2014

American Assets Trust, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the period, the company’s total revenue was $63,953,000 against $62,180,000 a year ago. Operating income was $20,354,000 against $19,880,000 a year ago. Net income attributable to company stockholders was $4,602,000 against $3,238,000 a year ago. Basic and diluted income attributable to common stockholders per share was $0.11 against $0.08 a year ago. Funds from operations attributable to common stock and units were $22,929,000 or $0.39 per diluted share compared to $21.8 million or $0.38 per diluted share for the quarter ended March 31, 2013. The increase in FFO from the corresponding period in 2013 was largely due to a decrease in interest expense as a result of the Company's payoff, without penalty, of the outstanding mortgage at Alamo Quarry Market during the fourth quarter of 2013 and an increase in capitalized interest related to the Company's Lloyd District Portfolio and Torrey Reserve Campus redevelopments. The increase in net income attributable to common stockholders was largely due to a decrease in interest expense. Tenant improvements and leasing commissions were $3,179,000 against $2,942,000 a year ago. Maintenance capital expenditures were $2,878,000 against $1,109,000 a year ago. EBITDA was $36,695,000 against $36,903,000 a year ago. The company reaffirmed its guidance for full year 2014 FFO per diluted share of a range of $1.54 to $1.62 per share. The company's guidance excludes any impact from future acquisitions, dispositions, equity issuances or repurchases, debt financings or repayments. For the second quarter of 2014, the company expects FFO to be down approximately $0.025 to approximately $0.365 per FFO share due to the 3 items. First, the Embassy Suites is expected to be down approximately $0.02 per FFO share due to both the seasonality from the shoulder months of April and May, along with the room refresh that will take approximately 20% of the rooms off-line for approximately 10 weeks during second quarter. Approximately half relates to the seasonality and half relates to the room refresh. Secondly, the dilution from the shares issued in first quarter will dilute its earnings by approximately $0.01 per FFO share in second quarter. And third, higher than anticipated straight-line rents in second quarter from both Saks Off 5th at Carmel Mountain Plaza and VMware at CCB starting sooner than anticipated, which is expected to add approximately $0.005 of additional FFO per share. The company has declared a dividend on its common stock of $0.22 per share for the quarter ending June 30, 2014. The dividend will be paid on June 27, 2014 to stockholders of record on June 13, 2014.


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Valuation AAT Industry Range
Price/Earnings 100.0x
Price/Sales 5.7x
Price/Book 2.2x
Price/Cash Flow 18.0x
TEV/Sales 1.3x

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