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YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. a total portfolio and same-store basis. Comparison of the three months ended March 31, 2023 to the three months ended March 31, 2022 The following summarizes our consolidated results of operations...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. March 31, 2023, we owned land at three of our properties that we classified as held for development and/or construction in progress. As of March 31, 2022, our operating portfolio was comprised of 3...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. unaudited consolidated statements of comprehensive income for the three months ended March 31, 2023 and 2022 (dollars in thousands): Three Months Ended March 31, Change 2023 2022 Revenues Rent...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 65,896 2,720 General and administrative (8,999) (7,142) (1,857) 26 Depreciation and amortization (29,901) (30,412) 511 (2) Interest expense, net (15,729) (14,666) (1,063) Other (exp...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. to unitholders in the Operating Partnership (4,341) (2,836) (1,505) 53 Net income attributable to American Assets Trust, Inc. stockholders 16,136 10,523 5,613 53 Revenue Total property re...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 31, 2023 2022 Office 88.1 91.5 Retail 93.8 92.2 Multifamily 91.8 94.8 Mixed-Use (2) 95.0 94.3 (1) The percentage leased includes the square footage under lease, including leases which...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. amily portfolio and factors discussed below. Rental revenues . Rental revenue includes minimum base rent, cost reimbursements, percentage rents and other rents. Rental revenue increased $5.7 millio...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Retail 25,312 24,517 795 25,312 24,517 795 Multifamily 14,605 12,974 1,631 13 14,605 12,974 1,631 13 Mixed-Use 13,101 11,084 2,017 18 13,101 11,084 2,017 18 102,710 96,986...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , 2022; (iii) the 710 building at Lloyd District Portfolio which was placed into operations on November 1, 2022, approximately one year after completing renovations of the building and (iv) land held...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. .8 million for the three months ended March 31, 2023 compared to the three months ended March 31, 2022 primarily due to new tenant leases and prior tenants on alternate rent reverting back to basic m...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 2023 compared to $2,217 and 95.1%, respectively for the three months ended March 31, 2022. Total mixed-use rental revenue increased $2.0 million for the three months ended March 31, 2023 compared to...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , or 12%, to $5.0 million for the three months ended March 31, 2023 compared to $4.5 million for the three months ended March 31, 2022. Other property income by segment was as follows (dollars in tho...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 43 Mixed-Use 2,493 2,087 406 19 2,493 2,087 406 19 5,044 4,484 560 12 5,037 4,456 581 13 Office other property income increased by $0.1 million for the three months ended March 31...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. hotel occupancy which led to an increase in other room rental income and excise tax at the hotel portion of our mixed-use property. Property Expenses Total Property Expenses. Total property expen...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. expense by segment was as follows (dollars in thousands): Total Portfolio Same-Store Portfolio Three Months Ended March 31, Change Three Months Ended March 31, Change 2023 2022 2023 2022 ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 1,595 21 27,506 24,145 3,361 14 27,089 23,930 3,159 13 Office rental expense increased $1.3 million for the three months ended March 31, 2023 compared to the three months ended March 31, 20...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. to the three months ended March 31, 2022 primarily due to an increase in repairs and maintenance, facilities services and employee related costs. Mixed-use rental expense increased $1.6 million for...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Real estate taxes increased $0.2 million, or 2%, to $11.6 million for the three months ended March 31, 2023 compared to $11.4 million for the three months ended March 31, 2022. Real estate tax expens...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ) Multifamily 1,786 1,764 22 1,786 1,764 22 Mixed-Use 901 851 50 901 851 50 11,632 11,429 203 11,505 11,363 142 Office real estate taxes increased $0.2 million for the three mont...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , 2022 primarily due to a one-time real estate tax refund received during the three months ended March 31, 2023 for Carmel Mountain Plaza and Geary Marketplace for prior tax assessments years. Mixed...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. thousands): Total Portfolio Same-Store Portfolio Three Months Ended March 31, Change Three Months Ended March 31, Change 2023 2022 2023 2022 Office 36,149 36,239 (90) 35,903 36,293 ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 2,720 68,370 65,950 2,420 Same-store office property operating income decreased $0.4 million for the three months ended March 31, 2023 compared to the three months ended March 31, 2022, primari...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. three months ended March 31, 2022 primarily due to new tenant leases and prior tenants on alternate rent reverting back to basic monthly rent. Additionally, real estate taxes decreased primarily due...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. to 93.0% for the three months ended March 31, 2023 compared to 95.1% for the three months ended March 31, 2022. This increase in revenue was partially offset by an increase in rental expenses relate...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 72.8% and $243, respectively, for three months ended March 31, 2022. This also led to an increase in other room rental income and excise tax at the hotel portion of our mixed-use property. These inc...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , with respect to base pay for certain salaried and hourly workers and benefits. Depreciation and Amortization. Depreciation and amortization expense decreased to $29.9 million for the three months...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. by $1.1 million, or 7%, to $15.7 million for the three months ended March 31, 2023, compared to $14.7 million for the three months ended March 31, 2022. This increase was primarily due to higher int...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. for the three months ended March 31, 2022,primarily due to the net settlement payment of approximately $6.3 million received on January 3, 2023 related to certain building systems at our Hassalo on ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. is the parent company and sole general partner, and which it consolidates for financial reporting purposes.  Because the company operates on a consolidated basis with the Operating Partnership, the ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Therefore, the consolidated assets and liabilities and the consolidated revenues and expenses of the company and the Operating Partnership are the same on their respective financial statements.  How...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. has the full, exclusive and complete authority and control over the Operating Partnership’s day-to-day management and business, can cause it to enter into certain major transactions, including acqui...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 7 of the Notes to Consolidated Financial Statements included elsewhere herein. If the Operating Partnership fails to fulfill certain of its debt requirements, which trigger the company’s guarantee ob...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 12 months. However, we cannot assure you that the Operating Partnership’s sources of capital will continue to be available at all or in amounts sufficient to meet its needs, including its ability to...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. to time seek to repurchase or redeem the Operating Partnership’s outstanding debt, the company’s shares of common stock or other securities in open market purchases, privately negotiated transaction...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. distributions of cash or other property, including, in limited circumstances, the company’s own stock. As a result of this distribution requirement, the Operating Partnership cannot rely on retained...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. to time on an opportunistic basis, dependent upon market conditions and available pricing. When the company receives proceeds from preferred or common equity issuances, it is required by the Operati...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. and sell equity securities of the company.  However, there can be no assurance that the company will be able to complete any such offerings of securities.  Factors influencing the availability of ad...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 31, 2023, no shares of common stock were sold through the ATM equity program. 39 Table of Contents We intend to use the net proceeds to fund development or redevelopment activities, repay amounts...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. .” section, the terms “we,” “our” and “us” refer to the Operating Partnership together with its consolidated subsidiaries, or the Operating Partnership and American Assets Trust, Inc. together with t...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , debt service and dividends to American Assets Trust, Inc.'s stockholders and our unitholders. As a REIT, American Assets Trust, Inc. must generally make annual distributions to its stockholders of ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , if necessary, borrowings available under our credit facility. Our long-term liquidity needs consist primarily of funds necessary to pay for the repayment of debt at maturity, property acquisitions...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the case. Our ability to incur additional debt will be dependent on a number of factors, including our degree of leverage, the value of our unencumbered assets and borrowing restrictions that may be...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. investments may be funded with additional long-term debt, including, without limitation, mortgage debt and unsecured notes. Our ability to incur additional debt will be dependent on a number of fact...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. . In January 2021, the Operating Partnership filed a universal shelf registration on Form S-3 ASR with the SEC which provided for the registration of an unspecified amount of debt securities by the ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. were $87.3 million and $73.6 million at March 31, 2023 and 2022, respectively. Net cash provided by operating activities increased $12.8 million to $52.0 million for the three months ended March 31...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 2023 compared to $77.3 million for the three months ended March 31, 2022. The decrease in cash used was primarily due to our newest acquisition of Bel-Spring 520 on March 8, 2022, and decrease in cap...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. $150 million to $225 million. This was partially offset by the repayment of the outstanding balance on the revolving line of credit. Net Operating Income Net Operating Income, or NOI, is a non-GAA...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. and accordingly, our NOI may not be comparable to the NOIs of other REITs. NOI is used by investors and our management to evaluate and compare the performance of our properties and to determine tre...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. cost of funds is also eliminated because it is dependent on historical interest rates and other costs of capital as well as past decisions made by us regarding the appropriate mix of capital, which ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. actual use of the property or the passage of time. Gains and losses from the sale of real property vary from property to property and are affected by market conditions at the time of sale, which wil...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. other expense, depreciation and amortization expense and gains or losses from the sale of properties, and other gains and losses as stipulated by GAAP, the level of capital expenditures and leasing ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. are eliminated in the calculation of NOI. Other companies may use different methods for calculating NOI or similarly entitled measures and, accordingly, our NOI may not be comparable to similarly en...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 666) Other (expense) income, net 6,679 (162) Net income 20,666 13,514 Funds from Operations We calculate funds from operations ("FFO"), in accordance with the standards established by the Nat...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. starting point in measuring our operational performance. Specifically, in excluding real-estate related depreciation and amortization and gains and losses from property dispositions, which do not re...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. all of which have real economic effects and could materially impact our results from operations, the utility of FFO as a measure of our performance is limited. In addition, other equity REITs may no...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. with GAAP. 42 Table of Contents The following table sets forth a reconciliation of our FFO for the three months ended March 31, 2023 to net income, the nearest GAAP equivalent (in thousands, exce...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 330,711 (1) The weighted average common shares used to compute FFO per diluted share include unvested restricted stock awards that are subject to time vesting, which were excluded from the computat...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. and interest rates. We manage our market risk by attempting to match anticipated inflow of cash from our operating, investing and financing activities with anticipated outflow of cash to fund debt ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. affect our debt, such as the effect that a changing interest rate environment could have on the overall level of economic activity or the action that our management might take to reduce our exposure...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. outstanding debt is directly tied to monthly SOFR contracts. If interest rates at March 31, 2023 had been 1.0% higher, the fair value of those debt instruments on that date would have decreased by a...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 31, 2023, we had $325.0 million of variable rate debt outstanding, all of which is subject to interest rate swaps as described above. We have historically entered into forward starting interest rate ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. and cash flows for the year, since this variable rate debt is effectively fixed by interest rate swap agreements. ITEM 4. CONTROLS AND PROCEDURES Controls and Procedures (American Assets Trust, In...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. to allow for timely decisions regarding required disclosure. In designing and evaluating the disclosure controls and procedures, management recognizes that any controls and procedures, no matter how...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , 2023, that American Assets Trust, Inc.'s disclosure controls and procedures were effective in ensuring that information required to be disclosed by it in reports filed or submitted under the Exchan...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. internal control over financial reporting. Controls and Procedures (American Assets Trust, L.P.) The Operating Partnership maintains disclosure controls and procedures (as such term is defined in ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. only reasonable assurance of achieving the desired control objectives, and management is required to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedure...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. reported within the time periods specified in the SEC’s rules and forms and (2) is accumulated and communicated to its management, including its Chief Executive Officer and Chief Financial Officer, ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. to have a material effect on our business, financial condition or results of operation if determined adversely to us. We may be subject to on-going litigation, relating to our portfolio and the prop...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 3. DEFAULTS UPON SENIOR SECURITIES None. ITEM 4. MINE SAFETY DISCLOSURES Not Applicable. ITEM 5. OTHER INFORMATION None. ITEM 6. EXHIBITS Exhibit No. Description 10.1 (1) Amended and Restat...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 of American Assets Trust, L.P. 31.3* Certification of Chief Financial Officer pursuant to Section ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 2 32.2* Certification of Chief Executive Officer and Chief Financial Officer of American Assets Trust, L.P. pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Ox...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Linkbase Document 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) Filed herewith. (1)    Incorporated herein by reference to American Assets Trust, I...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. NEST RADY Ernest Rady Ernest Rady Chairman and Chief Executive Officer Chairman and Chief Executive Officer (Principal Executive Officer) (Principal Executive Officer) /s/ ROBERT F. BARTON /s...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________ FORM 8-K _____________________ CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities E...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. (Address of principal executive offices) (Zip code) Registrant’s telephone number, including area code: (424) 744-8055 (Former name or former address, if changed since last report.) ___________...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. -commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class TradingSymbol(s)...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “ Exchange Act ”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorpor...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. May 10, 2023 /s/ Scott Giacobello Scott Giacobello Interim Chief Executive Off...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________ FORM 10-K _____________________________________________...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ) _______________________________________________ Delaware EIN 61-1547850 (State or other jurisdiction ofincorporation or organization) (I.R.S. EmployerIdentification No.) 17383 Sunset Boulevar...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. icate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No Indicate by check mark if the registrant is not required to file reports ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorte...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Smaller reporting company Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. included in the filing reflect the correction of an error to previously issued financial statements. Indicate by check mark whether any of those error corrections are restatements that required a r...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. The number of shares of registrant’s common stock outstanding as of March 23, 2023 was 24,436,990. DOCUMENTS INCORPORATED BY REFERENCE Portions of the Registrant’s definitive Proxy Statement relati...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 101 Item 2. Properties 101 Item 3. Legal Proceedings 101 Item 4. Mine Safety Disclosures 101 PART II Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. B. Other Information 149 Item 9C. Disclosure Regarding Foreign Jurisdictions that Present Inspection 149 Part III Item 10. Directors, Executive Officers and Corporate Governance 150 Item 11...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. express or implied forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E o...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Annual Report include, but are not limited to, statements about: our ability to maintain regulatory approval for FYARRO® in advanced malignant perivascular epithelioid cell tumor (“PEComa”), or to ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. and any other product candidates we may develop in the future; our commercialization, marketing and manufacturing capabilities and strategy; the pricing and reimbursement of FYARRO and any other p...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , safety, efficacy and therapeutic effects of FYARRO and any other product candidates that we may develop in the future; our ability to develop and advance product candidates into, and successfully ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. including funding necessary to commercialize FYARRO and to complete further development, approval and, if approved, commercialization of FYARRO in additional indications and any other product candid...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. of the EOC License Agreement (as defined herein); our ability to retain the continued service of our key professionals and to identify, hire and retain additional qualified professionals, including...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ,” “would,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “project,” “predict,” “potential,” “continue,” “likely,” and similar expressions (including their use in the negative) intended to i...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. of these risks or uncertainties occur, or if our underlying assumptions prove to be incorrect, actual events or results may vary significantly from those implied or projected by the forward-looking ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. some point in the future, we have no current intention of doing so except to the extent required by applicable law. You should therefore not rely on these forward-looking statements as representing ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. mTOR biological pathway, the activation of which pathway can promote tumor growth. We believe our approach to utilizing albumin bound sirolimus has the potential to produce transformational therapi...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. particles for injectable suspension (albumin-bound)) as FYARRO in the context of commercialization for the treatment of advanced malignant perivascular epithelioid cell tumor (“PEComa”), investigati...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Coma and recognized net revenue from product sales of $15.2 million for the year ended December 31, 2022. In addition to advanced malignant PEComa, based on exploratory data from the completed Phase...