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Jun 30, 2020
American Assets Trust Q2 2020 Earnings Report
Reported financial results and COVID-19 operational update for the second quarter of 2020.
Key Takeaways
American Assets Trust reported a net income available to common stockholders of $7.7 million, or $0.13 per diluted share, and funds from operations of $0.48 per diluted share for the second quarter ended June 30, 2020. Rent collection was strong with 98% of office rents, 58% of retail rents, and 95% of multifamily rents collected.
Net income available to common stockholders was $7.7 million, or $0.13 per diluted share.
Funds From Operations decreased 6% year-over-year to $0.48 per diluted share.
Same-store cash NOI decreased 11.5% year-over-year, but excluding lease termination fees, it would have decreased by 3.6%.
Collected 98% of office rents, 58% of retail rents, and 95% of multifamily rents that were due during the second quarter.
Forward Guidance
The company increased the dividend from $0.20 per share in the second quarter to $0.25 per share in the third quarter based on the company's rent collection in the second quarter.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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