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EQUITY OF AMERICAN ASSETS TRUST, INC. (Tables)

9 Months Ended

Sep. 30, 2025

Equity [Abstract]

Summary of Dividends Declared and Paid on Shares of Common Stock and Noncontrolling Common Units

The following table lists the dividends declared and paid on our shares of common stock and noncontrolling common units during the nine months ended September 30, 2025:

Period

Amount per Share/Unit

Period Covered

Dividend Paid Date

First Quarter 2025

$

0.340

January 1, 2025 to March 31, 2025

March 20, 2025

Second Quarter 2025

$

0.340

April 1, 2025 to June 30, 2025

June 18, 2025

Third Quarter 2025

$

0.340

July 1, 2025 to September 30, 2025

September 18, 2025

Summary of Activity of Restricted Stock Awards

The following table summarizes the activity of restricted stock awards during the nine months ended September 30, 2025:

			Units						Weighted Average Grant Date Fair Value
Nonvested at January 1, 2025			600,938						$	19.40
Granted			17,812						20.21
Vested			(9,180)						21.79
Forfeited			(3,508)						17.67
Nonvested at September 30, 2025			606,062						$	19.39

Summary of Computation of Basic and Diluted EPS

The computation of basic and diluted EPS is presented below (dollars in thousands, except share and per share amounts):

 

			Three Months Ended September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
NUMERATOR
Net income			$	5,921					$	21,318					$	67,149					$	61,235
Less: Net income attributable to restricted shares			(207)						(194)						(616)						(585)
Less: Income from operations attributable to unitholders in the Operating Partnership			(1,205)						(4,467)						(14,033)						(12,829)
Net income attributable to common stockholders—basic			$	4,509					$	16,657					$	52,500					$	47,821
Income from operations attributable to American Assets Trust, Inc. common stockholders—basic			$	4,509					$	16,657					$	52,500					$	47,821
Plus: Income from operations attributable to unitholders in the Operating Partnership			1,205						4,467						14,033						12,829
Net income attributable to common stockholders—diluted			$	5,714					$	21,124					$	66,533					$	60,650
DENOMINATOR
Weighted average common shares outstanding—basic			60,546,480						60,320,269						60,541,335						60,314,377
Effect of dilutive securities—conversion of Operating Partnership units			16,181,537						16,181,537						16,181,537						16,181,537
Weighted average common shares outstanding—diluted			76,728,017						76,501,806						76,722,872						76,495,914
Earnings per common share, basic			$	0.07					$	0.28					$	0.87					$	0.79
Earnings per common share, diluted			$	0.07					$	0.28					$	0.87					$	0.79

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Dividends declared and paid on shares of common stock and noncontrolling common units.

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
-Publisher FASB
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