Latest News by Industry
SAN DIEGO (AP) — SAN DIEGO (AP) — American Assets Trust Inc. (AAT) on Tuesday reported a key measure of profitability in its fourth quarter.
The San Diego-based real estate investment trust said it had funds from operations of $42.3 million, or 56 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $9.6 million, or 16 cents per share.
The real estate investment trust, based in San Diego, posted revenue of $106 million in the period.
For the year, the company reported funds from operations of $178.6 million, or $2.34 per share. Revenue was reported as $422.6 million.
American Assets Trust expects full-year funds from operations to be $2.16 to $2.30 per share.
The company's shares have risen roughly 7% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $28.29, a fall of 20% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a AAT">Zacks stock report on AAT at https://www.zacks.com/ap/AAT