American Assets Trust Inc. reported a 12 percent rise from a year ago in its first-quarter revenue, totaling $62.2 million for the period ending March 31.
That was up from $55.4 million in total revenue for the year-ago period, according to a statement from the San Diego-based real estate investment trust.
Net income attributable to common shareholders was $3.2 million for the quarter, up from $1.9 million a year ago.
Funds from operations, an industry supplemental metric gauging the performance of real estate portfolios, totaled $21.8 million for the period, up from $18 million in the first quarter of 2012.
American Assets Trust, with headquarters in Carmel Valley, invests in retail, office, multifamily and mixed-use properties. Its portfolio spans approximately 6 million square feet of properties in California, Oregon, Washington and Hawaii.
The company trades under the symbol AAT on the New York Stock Exchange.
— SDBJ Staff Report