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Jun 30, 2023
American Assets Trust Q2 2023 Earnings Report
Reported financial results for the second quarter ended June 30, 2023.
Key Takeaways
American Assets Trust reported a net income available to common stockholders of $12.0 million, or $0.20 per diluted share, and Funds From Operations (FFO) increased 2% year-over-year to $0.59 per diluted share. Same-store cash Net Operating Income (NOI) increased 7.7% year-over-year, and the company increased its 2023 FFO per diluted share guidance to a range of $2.28 to $2.36.
Net income available to common stockholders was $12.0 million, or $0.20 per diluted share.
Funds From Operations (FFO) increased 2% year-over-year to $0.59 per diluted share.
Same-store cash Net Operating Income (NOI) increased 7.7% year-over-year.
Increased 2023 FFO per diluted share guidance to a range of $2.28 to $2.36.
Forward Guidance
The company increased its 2023 FFO per diluted share guidance to a range of $2.28 to $2.36 per share, an increase of approximately 2% at midpoint from the prior 2023 FFO per diluted share guidance range of $2.23 to $2.33 per share. The company's guidance excludes any impact from future acquisitions, dispositions, equity issuances or repurchases, debt financings or repayments.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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