Overview

* American Assets Trust ( AAT ) Q2 net income falls to $5.5 mln, down from last year

* FFO per share excluding fees drops to $0.51 from $0.60 in Q2 2024

* Company raises 2025 FFO guidance by 1%

Outlook

* American Assets Trust ( AAT ) raises 2025 FFO per share guidance to $1.89-$2.01

Result Drivers

* RETAIL LEASES - Increased occupancy and average monthly base rent in same-store retail segment due to new tenant leases

* OFFICE CHALLENGES - Lower occupancy and annualized base rents in office segment contributed to decreased FFO

* INTEREST EXPENSE - Higher interest expenses due to senior notes impacted net income

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 EPS $0.09

Q2 Net $5.46

Income mln

Q2 FFO $39.72

mln

Q2 FFO $0.52

Per

Share

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the commercial reits peer group is "buy."

* Wall Street's median 12-month price target for American Assets Trust Inc ( AAT ) is $21.00, about 5.1% above its July 28 closing price of $19.93

* The stock recently traded at 48 times the next 12-month earnings vs. a P/E of 34 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)