NYSE$AAT

American Assets Trust Inc · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

Reported financial results and provided a COVID-19 operational update for the first quarter of 2020.

American Assets Trust reported a net income available to common stockholders of $12.1 million, or $0.20 per diluted share, for the first quarter. Funds From Operations per diluted share remained relatively unchanged year-over-year at $0.56 per diluted share, while same-store cash NOI increased 8.6% year-over-year.

  • Net income available to common stockholders was $12.1 million, or $0.20 per diluted share.
  • Funds From Operations remained relatively unchanged year-over-year at $0.56 per diluted share.
  • Same-store cash NOI increased 8.6% year-over-year.
  • Leased approximately 181,000 comparable office square feet and 62,000 comparable retail square feet.

Headline financials

Total Revenue

$96.7M

Previous: $85.3M+13.4%
EPS (adj)

$0.56

Previous: $0.56+0.0%
Same-Store Cash NOI Growth

8.6%

Previous: 8.6%+0.0%
Office Leased Percentage

94.3%

No prior period
Retail Leased Percentage

95.2%

No prior period
Multifamily Leased Percentage

93.0%

No prior period
Hotel Leased Percentage

75.4%

No prior period
Capital Expenditures

-$20.5M

Previous: -$20.9M+1.9%
Free Cash Flow

-$8.46M

Previous: -$9.84M+14.0%
Net Income

$12.1M

Previous: $11.1M+8.8%
Operating Income

$28.8M

Previous: $28.8M+0.1%
Gross Profit

$63.1M

Previous: $55.5M+13.8%
Cash & Equivalents

$52.4M

Previous: $54.5M-4.0%
Total Assets

$2.76B

Previous: $2.22B+24.3%
Stock-Based Comp

$1.25M

Previous: $1.1M+13.8%

Revenue & EPS history

American Assets Trust · Revenue · Quarterly

$96.7M

Q1 2020+13.4%vs Q1 2019
Beat estimate in 5 of 16 quarters(31%)
ActualEstimate

Revenue by segment

American Assets Trust · $104M total across 2 segments · Q2 2022

  • Rental Income
    $99M+13.0%
  • Other Property Income
    $5.14M

Forward guidance

Due to the ongoing COVID-19 pandemic, the company withdrew its full year 2020 guidance that was previously issued on October 29, 2019.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

+0.2%

Avg return

Earnings day

-0.3%

Avg return

5 days after

+0.5%

Avg return

30 days after

56%

34 / 61 earnings

Positive

+7.2%

Q2 2011

Best reaction

-11.2%

Q3 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-5.5%-4.7%+8.0%
Q4 2025+3.9%+4.1%+5.6%
Q3 2025-6.0%-5.7%-3.0%
Q1 2025+1.1%+2.8%+7.7%
Q4 2024-6.7%-6.2%-11.2%
Q3 2024+1.2%-3.0%+4.2%
Q2 2024+6.7%+3.5%+8.9%
Q1 2024-1.2%-1.0%-2.8%
Q4 2023-0.3%+2.7%-3.2%
Q3 2023-0.5%+0.7%+6.7%
Q2 2023+0.4%-0.0%-6.6%
Q1 2023+0.2%+2.0%+5.6%
Q4 2022-4.4%-6.6%-24.5%
Q3 2022+3.4%+2.7%+4.5%
Q2 2022-0.3%+0.9%-3.2%
Q1 2022+1.8%+0.1%-9.0%
Q4 2021+1.2%+0.6%+4.4%
Q3 2021-2.8%-3.8%-3.1%
Q2 2021+1.3%+0.7%+3.8%
Q1 2021+0.6%+1.6%+4.3%
Q4 2020+1.0%+2.9%+18.7%
Q3 2020-11.2%-11.6%+28.8%
Q2 2020+5.0%+5.0%+0.5%
Q1 2020+6.6%-0.8%-1.6%
Q4 2019+0.1%+1.1%-34.1%
Q3 2019+3.4%+4.1%-0.0%
Q2 2019-1.3%-0.4%-0.5%
Q1 2019+0.0%+0.0%-2.3%
Q4 2018-0.6%-0.4%+4.3%
Q3 2018+1.3%+0.2%+7.7%
Q2 2018+1.9%+3.7%+4.4%
Q1 2018-1.6%+1.8%+8.3%
Q4 2017-1.9%-0.3%+0.9%
Q3 2017-0.7%-1.7%+0.8%
Q2 2017-0.4%-0.5%+0.0%
Q1 2017-3.8%-3.8%-8.2%
Q4 2016-1.2%-1.0%-2.3%
Q3 2016-3.8%-3.3%-1.2%
Q2 2016-1.6%+1.0%-1.7%
Q1 2016+4.2%
Q4 2015+3.1%
Q3 2015-4.1%
Q2 2015-0.2%
Q1 2015-2.2%
Q4 2014+1.6%
Q3 2014+0.2%
Q2 2014-2.3%
Q1 2014+0.7%
Q4 2013+0.8%
Q3 2013-0.8%
Q2 2013+0.8%
Q1 2013+0.4%
Q4 2012+1.0%
Q3 2012+2.6%
Q2 2012+4.6%
Q1 2011-0.4%
Q1 2012+3.2%
Q4 2011+0.2%
Q3 2011+3.3%
Q2 2011+7.2%
Q4 2010+0.0%

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