American Assets Trust Inc
For the period ended Dec 31, 2023. Filed Feb 14, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 14, 2024
AAT$21.69+0.7%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of F-
Consolidated Statements of Comprehensive Income
(In Thousands, Except Shares and Per Share Data)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| REVENUE: | |||
| Rental income | $419,373 | $402,507 | $360,208 |
| Other property income | 21,791 | 20,141 | 15,620 |
| Total revenue | 441,164 | 422,648 | 375,828 |
| EXPENSES: | |||
| Rental expenses | 118,801 | 107,645 | 86,980 |
| Real estate taxes | 45,156 | 44,788 | 42,794 |
| General and administrative | 35,960 | 32,143 | 29,879 |
| Depreciation and amortization | 119,500 | 123,338 | 116,306 |
| Total operating expenses | 319,417 | 307,914 | 275,959 |
| OPERATING INCOME | 121,747 | 114,734 | 99,869 |
| Interest expense, net | (64,706) | (58,232) | (58,587) |
| Loss on early extinguishment of debt | — | — | (4,271) |
| Other income (expense), net | 7,649 | (625) | (418) |
| NET INCOME | 64,690 | 55,877 | 36,593 |
| Net income attributable to restricted shares | (761) | (648) | (564) |
| Net income attributable to unitholders in the Operating Partnership | (13,551) | (11,723) | (7,653) |
| NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS | $50,378 | $43,506 | $28,376 |
| EARNINGS PER COMMON SHARE, BASIC | |||
| Basic income attributable to common stockholders per share | $0.84 | $0.72 | $0.47 |
| Weighted average shares of common stock outstanding - basic | 60,158,976 | 60,048,970 | 59,990,740 |
| EARNINGS PER COMMON SHARE, DILUTED | |||
| Diluted income attributable to common stockholders per share | $0.84 | $0.72 | $0.47 |
| Weighted average shares of common stock outstanding - diluted | 76,340,513 | 76,230,507 | 76,172,277 |
| COMPREHENSIVE INCOME | |||
| Net income | $64,690 | $55,877 | $36,593 |
| Other comprehensive (loss) income - unrealized (loss) income on swap derivatives during the period | (1,827) | 11,319 | 2,723 |
| Reclassification of amortization of forward starting swap included in interest expense, net | (1,149) | (1,477) | (1,098) |
| Reclassification of amortization of forward-starting swap realized gain included in loss on early extinguishment of debt | — | — | (193) |
| Comprehensive income | 61,714 | 65,719 | 38,025 |
| Comprehensive income attributable to noncontrolling interest | (12,917) | (13,813) | (7,966) |
| Comprehensive income attributable to American Assets Trust, Inc. | $48,797 | $51,906 | $30,059 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.