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SAN DIEGO (AP) — SAN DIEGO (AP) — American Assets Trust Inc. (AAT) on Tuesday reported a key measure of profitability in its first quarter.
The San Diego-based real estate investment trust said it had funds from operations of $39.9 million, or 52 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $42.5 million, or 70 cents per share.
The real estate investment trust posted revenue of $108.6 million in the period.
American Assets Trust expects full-year funds from operations to be $1.87 to $2.01 per share.
The company's shares have declined 29% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $18.52, a decrease of 15% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AAT at https://www.zacks.com/ap/AAT