Last $41.00 USD
Change Today -0.325 / -0.79%
Volume 10.3K
AAT On Other Exchanges
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New York
As of 9:59 AM 03/3/15 All times are local (Market data is delayed by at least 15 minutes).

american assets trust inc (AAT) Key Developments

American Assets Mulls Acquisitions

American Assets Trust, Inc. (NYSE:AAT) intends to pursue acquisitions. "Our acquisition and venture efforts continue in full swing. However, the pricing of assets equal to or greater in quality than our existing portfolio provide returns of unacceptably low levels. Disciplined investing is a core metric in AAT. If it is dilutive to shareholder value we just won't do it. Nonetheless, we continue to evaluate growth opportunities and the recycling of capital where the probability to increase internal growth exists," John Chamberlain, President and Chief Executive Officer, said.

American Assets Trust, Inc. Declares Dividend for the Quarter Ending March 31, 2015, Payable on March 27, 2015; Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for Full Year 2015

American Assets Trust, Inc. declared a dividend on its common stock of $0.2325 per share for the quarter ending March 31, 2015. The dividend will be paid on March 27, 2015 to stockholders of record on March 13, 2015. The company reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, total revenue was $66,478,000 against $64,645,000 a year ago. Operating income was $22,526,000 against $20,407,000 a year ago. Net income attributable to the company's stockholders was $7,024,000 or $0.16 per diluted share against $4,682,000 or $0.11 per diluted share a year ago. During the fourth quarter of 2014, the company generated funds from operations for common stockholders of $25.7 million, or $0.42 per diluted share, compared to $23.0 million, or $0.40 per diluted share, for the quarter ended December 31, 2013. The increase in net income attributable to common stockholders for the year ended December 31, 2014 was largely due to a decrease in interest expense and receipt of a termination fee. For the year, total revenue was $260,000,000 against $255,057,000 a year ago. Operating income was $83,669,000 against $81,101,000 a year ago. Net income attributable to the company's stockholders was $21,756,000 or $0.51 per diluted share against $15,220,000 or $0.38 per diluted share a year ago. For the year ended December 31, 2014, the company generated FFO for common stockholders of $97.6 million, or $1.62 per diluted share, compared to $89.0 million, or $1.54 per diluted share, for the year ended December 31, 2013. The increase in FFO from the corresponding period in 2013 was largely due to a decrease in interest expense as a result of the company's payoff of the outstanding mortgages at Alamo Quarry Market and Waikele Center during the fourth quarter of 2013 and 2014, respectively. The increase for the year ended December 31, 2014 was also attributed to a net termination fee received for a canceled acquisition during the second quarter of 2014. The company increased its guidance for full year 2015 FFO per diluted share to a range of $1.67 to $1.73 per share from the prior range of $1.65 to $1.73 per share, an increase of 1% over the prior midpoint. The company's guidance excludes any impact from future acquisitions, dispositions, equity issuances or repurchases, future debt financings or repayments, except that guidance includes the remaining issuance of the company's existing ATM equity program in 2015.

American Assets Trust, Inc. Announces Issuance of $100 Million of 4.45% Senior Guaranteed Notes, Series B, Due February 2, 2025

American Assets Trust, Inc. and American Assets Trust, L.P. announced the closing of a privately placed debt offering of $100,000,000 of ten-year senior guaranteed notes by the Operating Partnership. The Series B Notes are unsecured, will pay a fixed interest rate of 4.45% and are due on February 2, 2025. The Company intends to use the proceeds from the private placement of the Series B Notes to refinance existing secured indebtedness and for other general corporate purposes.

American Assets Trust, Inc. to Report Q4, 2014 Results on Feb 17, 2015

American Assets Trust, Inc. announced that they will report Q4, 2014 results After-Market on Feb 17, 2015

American Assets Trust, Inc., Q4 2014 Earnings Call, Feb 18, 2015

American Assets Trust, Inc., Q4 2014 Earnings Call, Feb 18, 2015

 

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AAT

Industry Average

Valuation AAT Industry Range
Price/Earnings 100.0x
Price/Sales 6.9x
Price/Book 2.4x
Price/Cash Flow 20.2x
TEV/Sales 2.5x
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