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Dec 31, 2023
American Assets Trust Q4 2023 Earnings Report
American Assets Trust reported financial results for Q4 2023 and year ended December 31, 2023.
Key Takeaways
American Assets Trust reported a net income available to common stockholders of $10.5 million, or $0.17 per diluted share, for the three months ended December 31, 2023. FFO per diluted share increased 2% year-over-year to $0.57. The company is introducing 2024 annual guidance midpoint of $2.26 of FFO per diluted share.
Net income available to common stockholders was $10.5 million, or $0.17 per diluted share.
FFO increased 2% year-over-year to $0.57 per diluted share.
Same-store cash Net Operating Income (NOI) increased 2.6% year-over-year.
Leased approximately 23,000 comparable office square feet at an average straight-line basis and cash-basis contractual rent increase of 30% and 22%, respectively.
Leased approximately 108,000 comparable retail square feet at an average straight-line basis and cash-basis contractual rent increase of 13% and 7%, respectively.
Forward Guidance
The company is introducing 2024 guidance for full year 2024 FFO per diluted share of $2.19 to 2.33 per share, with a midpoint of $2.26.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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