American assets trust, inc. (AAT)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
REVENUE:
Total rental income

92,070

94,231

93,147

79,656

76,831

78,365

78,079

76,892

76,201

77,703

78,135

72,925

70,040

72,180

71,852

68,221

67,245

68,111

67,471

63,552

62,753

63,210

63,593

58,793

60,482

61,425

62,405

59,705

59,222

60,191

58,310

53,740

53,008

47,308

53,278

48,616

44,966

Other property income

4,673

4,716

5,215

4,457

8,488

4,240

4,428

8,131

4,531

4,043

4,204

4,181

3,752

4,382

4,124

3,598

3,486

3,419

3,818

3,217

3,282

3,268

3,750

3,406

3,498

3,220

2,913

3,209

2,958

2,930

2,455

2,391

2,441

1,201

3,015

2,484

1,917

Total revenue

96,743

98,947

98,362

84,113

85,319

82,605

82,507

85,023

80,732

81,746

82,339

77,106

73,792

76,562

75,976

71,819

70,731

71,530

71,289

66,769

66,035

66,478

67,343

62,199

63,980

64,645

65,318

62,914

62,180

63,121

60,765

56,131

55,449

48,509

56,293

51,100

46,883

EXPENSES:
Rental expenses

22,568

25,356

23,989

21,826

20,796

23,797

21,383

20,882

20,420

23,129

21,177

19,841

19,859

20,919

20,591

19,590

18,453

20,377

18,985

17,205

16,620

17,773

17,374

16,500

16,620

18,206

17,430

16,686

16,286

17,287

16,478

15,506

14,818

15,413

16,187

14,322

12,211

Real estate taxes

11,045

10,750

10,942

9,275

9,046

9,012

8,787

8,628

8,546

8,696

8,535

7,904

7,536

7,932

7,396

6,417

6,633

6,109

6,676

5,986

6,048

5,910

5,899

5,129

6,026

5,334

5,768

5,476

4,800

4,947

6,094

5,743

5,241

3,946

5,390

5,452

3,958

General and administrative

6,820

6,376

6,479

5,943

6,073

6,645

5,176

5,396

5,567

6,211

4,958

5,131

5,082

4,441

4,513

4,394

4,549

3,913

6,357

4,788

5,016

4,603

4,682

4,635

4,612

4,537

4,031

4,426

4,201

4,063

3,894

3,911

3,725

2,842

3,733

3,866

3,186

Depreciation and amortization

27,462

26,472

26,568

22,582

20,583

21,060

19,886

32,868

33,279

19,918

21,192

24,182

17,986

18,160

17,992

17,714

17,453

17,238

15,761

15,286

15,107

15,666

16,352

18,209

16,341

16,161

16,648

16,953

17,013

16,576

16,094

14,329

14,854

14,020

15,827

13,934

12,155

Total operating expenses

67,895

68,954

67,978

59,626

56,498

60,514

55,232

67,774

67,812

57,954

55,862

57,058

50,463

51,452

50,492

48,115

47,088

47,637

47,779

43,265

42,791

43,952

44,307

44,473

43,599

44,238

43,877

43,541

42,300

42,873

42,560

39,489

38,638

36,221

41,137

37,574

31,510

OPERATING INCOME

28,848

29,993

30,384

24,487

28,821

22,091

27,275

17,249

12,920

23,792

26,477

20,048

23,329

25,110

25,484

23,704

23,643

23,893

23,510

23,504

23,244

22,526

23,036

17,726

20,381

20,407

21,441

19,373

19,880

20,248

18,205

16,642

16,811

12,288

15,156

13,526

15,373

Interest expense

13,472

13,796

13,734

13,129

13,349

12,861

12,879

12,688

13,820

13,992

13,873

12,652

13,331

12,788

13,049

13,153

12,946

13,010

11,258

11,197

11,795

12,569

13,325

13,439

13,632

13,776

14,764

14,744

14,736

15,152

14,247

14,028

13,901

12,788

14,738

14,063

12,991

Gain on sale of real estate

-

-

0

633

-

-

0

0

-

-

-

-

-

-

-

-

-

-

7,121

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Early extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-25,867

Loan transfer and consent fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-211

0

0

9,019

Gain on acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

46,371

Other income (expense), net

108

288

-131

-50

-229

-21

-125

-148

209

-69

-99

192

310

86

-577

99

24

343

-347

-23

-70

89

-621

1,064

-91

276

-419

-65

-279

-274

8

-217

-146

392

-108

530

-602

INCOME FROM CONTINUING OPERATIONS

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,822

3,966

2,397

2,764

103

310

-7

13,265

Discontinued operations
Income from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

327

-

-

Gain on sale of real estate property

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,981

-

-

Results from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

36,999

319

227

107

1,476

4,308

-462

331

NET INCOME

15,484

16,485

16,519

11,941

15,243

9,209

14,271

4,413

-691

9,731

12,505

7,588

10,308

12,408

11,858

10,650

10,721

11,226

19,026

12,284

11,379

10,046

9,090

5,351

6,658

6,907

6,258

4,564

4,865

41,821

4,285

2,624

2,871

655

4,618

455

13,596

Net income attributable to restricted shares

104

104

92

92

93

96

71

216

-72

60

60

61

60

61

42

43

43

53

32

40

43

115

95

94

70

139

132

133

132

397

133

131

-132

660

-132

-132

86

Net loss attributable to Predecessor's noncontrolling interests in consolidated real estate entities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-2,458

Net income attributable to Predecessor's controlled owners' equity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-33,990

0

0

16,995

Net income attributable to unitholders in the Operating Partnership

3,312

3,536

3,565

2,933

4,055

2,440

3,806

1,125

-166

2,594

3,351

2,008

2,861

3,486

3,342

3,008

3,027

2,961

5,432

3,536

3,309

2,907

2,578

1,544

1,986

2,086

1,903

1,354

1,495

13,112

1,335

804

883

179

1,434

104

-329

NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS

12,068

12,845

12,862

8,916

11,095

6,673

10,394

3,072

-453

7,077

9,094

5,519

7,387

8,861

8,474

7,599

7,651

8,212

13,562

8,708

8,027

7,024

6,417

3,713

4,602

4,682

4,223

3,077

3,238

28,576

2,817

1,689

1,856

344

3,052

219

-698

EARNINGS PER COMMON SHARE
(Loss) earnings per common share, basic (in USD per share)

-

-

-

-

-

-

-

-

-

-

-

-

0.16

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.08

0.07

0.04

0.05

0.01

0.00

0.00

-0.03

Discontinued operations (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.65

0.01

0.00

0.00

0.00

0.08

0.01

0.01

Earnings per common share, basic (in USD per share)

0.20

0.20

0.22

0.18

0.24

0.14

0.22

0.07

-0.01

-

0.19

0.12

-

0.19

0.19

0.17

0.17

0.19

0.30

0.20

0.18

0.17

0.15

0.09

0.11

0.11

0.11

0.08

0.08

0.73

0.08

0.04

0.05

0.01

0.08

0.01

-0.02

Weighted average shares of common stock outstanding-basic (in shares)

59,723

59,861

59,441

50,135

47,004

46,968

46,959

46,939

46,935

46,918

46,898

46,871

46,173

45,483

45,377

45,235

45,233

45,245

44,998

44,092

43,419

43,226

42,539

41,816

40,582

39,847

39,816

39,460

39,033

38,954

38,673

38,659

38,657

38,760

38,655

38,655

30,924

EARNINGS PER COMMON SHARE, DILUTED
(Loss) earnings per common share, diluted (in USD per share)

-

-

-

-

-

-

-

-

-

-

-

-

0.16

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.08

0.07

0.04

0.05

0.01

0.00

0.00

-0.03

Discontinued operations (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.65

0.01

0.00

0.00

0.00

0.08

0.01

0.01

Earnings per common share, diluted (in USD per share)

0.20

0.20

0.22

0.18

0.24

0.14

0.22

0.07

-0.01

-

0.19

0.12

-

0.19

0.19

0.17

0.17

0.18

0.30

0.20

0.18

0.16

0.15

0.09

0.11

0.11

0.11

0.08

0.08

0.73

0.08

0.04

0.05

0.01

0.08

0.01

-0.02

Weighted average shares of common stock outstanding-diluted (in shares)

76,113

76,240

75,832

66,889

64,182

81,340

64,137

64,132

46,935

64,104

64,093

64,089

64,062

63,371

63,272

63,134

63,133

63,145

62,897

61,992

61,321

61,131

60,444

59,721

58,492

57,799

57,777

57,429

57,056

57,052

57,054

57,055

57,053

71,852

57,051

57,051

30,924

Dividends declared per common share (in USD per share)

0.30

-

0.28

0.28

0.28

-

0.27

0.27

0.27

-

0.26

0.26

0.26

-

0.25

0.25

0.25

-

0.23

0.23

0.23

-

0.22

0.22

0.22

-

0.21

0.21

0.21

-

0.21

0.21

0.21

-

0.21

0.21

0.17

COMPREHENSIVE INCOME
Net income

15,484

16,485

16,519

11,941

15,243

9,209

14,271

4,413

-691

9,731

12,505

7,588

10,308

12,408

11,858

10,650

10,721

11,226

19,026

12,284

11,379

10,046

9,090

5,351

6,658

6,907

6,258

4,564

4,865

41,821

4,285

2,624

2,871

655

4,618

455

13,596

Reclassification of amortization of forward-starting swap included in interest expense

333

-

-

-

320

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax

-

-

-

-3,891

-

-

-

875

2,861

1,813

87

-518

-996

28,491

2,432

-9,906

-3,969

-

-908

457

-943

-

2,439

-811

-746

-

0

0

0

-

-

-

-

-

-

-

-

Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax

-

-

333

319

-

320

320

319

320

320

319

330

145

58

58

58

57

58

57

58

58

39

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Comprehensive income

9,036

17,186

15,605

7,731

12,791

4,706

14,518

4,969

1,850

11,224

12,273

6,740

9,167

40,841

14,232

686

6,695

12,324

18,061

12,683

10,378

9,294

11,529

4,540

5,912

6,907

6,258

4,564

4,865

-

-

-

-

-

-

-

-

Comprehensive income attributable to non-controlling interests

1,941

3,719

3,364

1,820

3,398

1,232

3,872

1,271

502

2,986

3,263

1,700

2,484

11,538

4,018

182

1,886

3,290

5,155

3,656

3,018

2,687

3,300

1,305

1,761

5,076

1,903

1,354

-1,495

-

-

-

-

-

-

-

-

Comprehensive income attributable to American Assets Trust, Inc.

7,095

13,467

12,241

5,911

9,393

3,474

10,646

3,698

1,348

8,238

9,010

5,040

6,683

29,303

10,214

504

4,809

9,034

12,906

9,027

7,360

6,607

8,229

3,235

4,151

4,821

4,355

3,210

3,370

-

-

-

-

-

-

-

-

American Assets Trust, L.P.
Total rental income

92,070

94,231

93,147

79,656

76,831

78,365

78,079

76,892

76,201

77,703

78,135

72,925

70,040

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other property income

4,673

4,716

5,215

4,457

8,488

4,240

4,428

8,131

4,531

4,043

4,204

4,181

3,752

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total revenue

96,743

98,947

98,362

84,113

85,319

82,605

82,507

85,023

80,732

81,746

82,339

77,106

73,792

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Rental expenses

22,568

25,356

23,989

21,826

20,796

23,797

21,383

20,882

20,420

23,129

21,177

19,841

19,859

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Real estate taxes

11,045

10,750

10,942

9,275

9,046

9,012

8,787

8,628

8,546

8,696

8,535

7,904

7,536

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

General and administrative

6,820

6,376

6,479

5,943

6,073

6,645

5,176

5,396

5,567

6,211

4,958

5,131

5,082

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

27,462

26,472

26,568

22,582

20,583

21,060

19,886

32,868

33,279

19,918

21,192

24,182

17,986

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total operating expenses

67,895

68,954

67,978

59,626

56,498

60,514

55,232

67,774

67,812

57,954

55,862

57,058

50,463

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

OPERATING INCOME

28,848

29,993

30,384

24,487

28,821

22,091

27,275

17,249

12,920

23,792

26,477

20,048

23,329

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest expense

13,472

13,796

13,734

13,129

13,349

12,861

12,879

12,688

13,820

13,992

13,873

12,652

13,331

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of real estate

-

-

0

633

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other income (expense), net

108

288

-131

-50

-229

-21

-125

-148

209

-69

-99

192

310

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

NET INCOME

15,484

16,485

16,519

11,941

15,243

9,209

14,271

4,413

-691

9,731

12,505

7,588

10,308

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income attributable to restricted shares

104

104

92

92

93

96

71

216

-72

60

60

61

60

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS

15,380

16,381

16,427

11,849

15,150

9,113

14,200

4,197

-619

9,671

12,445

7,527

10,248

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Earnings per common share, basic (in USD per share)

0.20

0.20

0.22

0.18

0.24

0.14

0.22

0.07

-0.01

0.15

0.19

0.12

0.16

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Weighted average shares of common stock outstanding-basic (in shares)

76,113

76,240

75,832

66,889

64,182

64,145

64,137

64,132

64,130

64,104

64,093

64,089

64,062

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Earnings per common share, diluted (in USD per share)

0.20

0.20

0.22

0.18

0.24

0.14

0.22

0.07

-0.01

-

0.19

0.12

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Weighted average shares of common stock outstanding-diluted (in shares)

76,113

76,240

75,832

66,889

64,182

64,145

64,137

64,132

64,130

64,104

64,093

64,089

64,062

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions per unit (in USD per share)

0.30

0.30

0.28

0.28

0.28

0.28

0.27

0.27

0.27

0.27

0.26

0.26

0.26

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income

15,484

16,485

16,519

11,941

15,243

9,209

14,271

4,413

-691

9,731

12,505

7,588

10,308

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Reclassification of amortization of forward-starting swap included in interest expense

333

-

-

-

320

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax

-

-

333

319

-

320

320

319

320

320

319

330

145

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Comprehensive income

9,036

17,186

15,605

7,731

12,791

4,706

14,518

4,969

1,850

11,224

12,273

6,740

9,167

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest Rate Swap
Other comprehensive loss - change in value of interest rate swaps

-6,115

-

-1,094

-3,891

-2,132

-

567

875

2,861

-

87

-518

-996

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Forward Contracts
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax

-

-

513

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-