Revenue Rises at American Assets TrustFriday, November 9, 2012
American Assets Trust Inc. saw revenue rise 11.6 percent and net income dip 7.6 percent from a year ago in its third quarter ending Sept. 30.
The San Diego-based real estate investment trust reported revenue of $62.8 million and net income available to stockholders of $2.8 million for the quarter. Funds from operations available to stockholders, an industry metric gauging the performance of real estate portfolios, increased 24.2 percent from a year ago, to $20.6 million, according to a company statement.
American Assets Trust owns office, retail, multifamily and hotel properties, primarily in California and three other Western states. The company trades under the symbol AAT on the New York Stock Exchange.
— SDBJ Staff Report