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Consolidated Statements of Comprehensive Income - LP - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
REVENUE:        
Rental income $ 102,222 $ 105,549 $ 306,243 $ 315,664
Other property income 7,356 17,261 19,875 28,731
Total revenue 109,578 122,810 326,118 344,395
EXPENSES:        
Rental expenses 31,768 31,361 91,746 90,707
Real estate taxes 11,529 11,044 33,179 33,133
General and administrative 9,500 9,068 27,662 26,647
Depreciation and amortization 32,014 33,529 95,290 94,757
Total operating expenses 84,811 85,002 247,877 245,244
Gain on sale of real estate 0 0 44,476 0
OPERATING INCOME 24,767 37,808 122,717 99,151
Interest expense, net (19,773) (18,229) (58,337) (50,773)
Other income, net 927 1,739 2,769 12,857
NET INCOME 5,921 21,318 67,149 61,235
Net income attributable to restricted shares (207) (194) (616) (585)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS $ 4,509 $ 16,657 $ 52,500 $ 47,821
EARNINGS PER UNIT - BASIC        
Earnings per unit, basic (in dollars per share) $ 0.07 $ 0.28 $ 0.87 $ 0.79
Weighted average units outstanding - basic (in shares) 60,546,480 60,320,269 60,541,335 60,314,377
EARNINGS PER UNIT - DILUTED        
Earnings per unit, diluted (in dollars per share) $ 0.07 $ 0.28 $ 0.87 $ 0.79
Weighted average units outstanding - diluted (in shares) 76,728,017 76,501,806 76,722,872 76,495,914
COMPREHENSIVE INCOME        
Net income $ 5,921 $ 21,318 $ 67,149 $ 61,235
Reclassification of amortization of forward-starting swap included in interest expense (258) (98) (774) (295)
Comprehensive income 5,037 16,142 63,789 56,404
Comprehensive income attributable to American Assets Trust, Inc. 4,018 12,769 50,467 44,599
Interest Rate Swap        
COMPREHENSIVE INCOME        
Other comprehensive income (loss) (626) (3,733) (2,586) (3,191)
American Assets Trust, L.P.        
REVENUE:        
Rental income 102,222 105,549 306,243 315,664
Other property income 7,356 17,261 19,875 28,731
Total revenue 109,578 122,810 326,118 344,395
EXPENSES:        
Rental expenses 31,768 31,361 91,746 90,707
Real estate taxes 11,529 11,044 33,179 33,133
General and administrative 9,500 9,068 27,662 26,647
Depreciation and amortization 32,014 33,529 95,290 94,757
Total operating expenses 84,811 85,002 247,877 245,244
Gain on sale of real estate 0 0 44,476 0
OPERATING INCOME 24,767 37,808 122,717 99,151
Interest expense, net (19,773) (18,229) (58,337) (50,773)
Other income, net 927 1,739 2,769 12,857
NET INCOME 5,921 21,318 67,149 61,235
Net income attributable to restricted shares (207) (194) (616) (585)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS $ 5,714 $ 21,124 $ 66,533 $ 60,650
EARNINGS PER UNIT - BASIC        
Earnings per unit, basic (in dollars per share) $ 0.07 $ 0.28 $ 0.87 $ 0.79
Weighted average units outstanding - basic (in shares) 76,728,017 76,501,806 76,722,872 76,495,914
EARNINGS PER UNIT - DILUTED        
Earnings per unit, diluted (in dollars per share) $ 0.07 $ 0.28 $ 0.87 $ 0.79
Weighted average units outstanding - diluted (in shares) 76,728,017 76,501,806 76,722,872 76,495,914
DISTRIBUTIONS PER UNIT (in USD per share) $ 0.340 $ 0.335 $ 1.020 $ 1.005
COMPREHENSIVE INCOME        
Net income $ 5,921 $ 21,318 $ 67,149 $ 61,235
Reclassification of amortization of forward-starting swap included in interest expense (258) (98) (774) (295)
Comprehensive income 5,037 16,142 63,789 56,404
American Assets Trust, L.P. | Interest Rate Swap        
COMPREHENSIVE INCOME        
Other comprehensive income (loss) (626) (3,733) (2,586) (3,191)
American Assets Trust, L.P. | Limited Partners        
EXPENSES:        
NET INCOME [1] 1,205 4,467    
COMPREHENSIVE INCOME        
Net income [1] 1,205 4,467    
Comprehensive income attributable to American Assets Trust, Inc. (1,019) (3,373) (13,322) (11,805)
American Assets Trust, L.P. | General Partners        
EXPENSES:        
NET INCOME [2] 4,716 16,851    
COMPREHENSIVE INCOME        
Net income [2] 4,716 16,851    
Comprehensive income attributable to American Assets Trust, Inc. $ 4,018 $ 12,769 $ 50,467 $ 44,599
[1] Consists of limited partnership interests held by third parties.
[2] Consists of general partnership interests held by American Assets Trust, Inc.