American Assets Trust: Q2 Earnings Snapshot
SAN DIEGO (AP) — SAN DIEGO (AP) — American Assets Trust Inc. (AAT) on Tuesday reported a key measure of profitability in its second quarter.
The San Diego-based real estate investment trust said it had funds from operations of $46.1 million, or 60 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 $11.9 million, or 20 cents per share.
The real estate investment trust posted revenue of $110.9 million in the period.
American Assets Trust expects full-year funds from operations in the range of $2.48 to $2.54 per share.
The company's shares have risen 15% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $25.82, an increase of 15% in the last 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
