San Diego Business Journal

Revenue Rises at Real Estate Investment Trust

Thursday, March 8, 2012

Locally based American Assets Trust Inc. saw total revenue rise over the prior year in 2011, its first year as a publicly traded company.

The real estate investment trust, with headquarters in San Diego, reported March 6 that revenue rose 68 percent, to $209.8 million.

The company had an initial public offering of common stock in January 2011. Funds from operations attributable to common shareholders, an industry metric gauging the performance of real estate portfolios, totaled $57.3 million for the year ending Dec. 31.

Net income attributable to common stockholders was $2.9 million for 2011. Overall net income was $19.3 million, up from $2.1 million in 2010.

American Assets Trust owns approximately 2.3 million square feet of office, hotel and apartment properties, primarily in California, Oregon and Hawaii. The company trades under the symbol AAT on the New York Stock Exchange.

— Lou Hirsh