American Assets Trust: 3Q Earnings Snapshot

Associated Press
Updated ·1 min read

SAN DIEGO (AP) _ American Assets Trust Inc. (AAT) on Tuesday reported a key measure of profitability in its third quarter.

The real estate investment trust, based in San Diego, said it had funds from operations of $33.3 million, or 44 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 $5 million, or 8 cents per share.

The real estate investment trust posted revenue of $84.4 million in the period.

The company's shares have dropped 51% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $22.40, a decline of 52% 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