| 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, 2012:
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| Period |
|
Amount
per
Share/Unit |
|
|
Period Covered |
|
Dividend Paid Date |
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First Quarter 2012
|
|
$ |
0.21 |
|
|
January 1, 2012 to March 31, 2012 |
|
March 30, 2012 |
|
Second Quarter 2012
|
|
$ |
0.21 |
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|
April 1, 2012 to June 30, 2012 |
|
June 29, 2012 |
|
Third Quarter 2012
|
|
$ |
0.21 |
|
|
July 1, 2012 to September 30, 2012 |
|
September 28, 2012 |
|
| Activity of restricted stock awards |
The following table
summarizes the activity of restricted stock awards during the nine months ended September 30, 2012:
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Units |
|
|
Weighted
Average Grant
Date
Fair Value |
|
|
Nonvested at January 1, 2012
|
|
|
628,712 |
|
|
$ |
15.43 |
|
|
Granted
|
|
|
10,015 |
|
|
|
22.50 |
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Vested
|
|
|
(3,252 |
) |
|
|
20.49 |
|
|
Forfeited
|
|
|
(2,253 |
) |
|
|
12.52 |
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|
|
|
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Nonvested at September 30, 2012
|
|
|
633,222 |
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$ |
15.64 |
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| Computation of basic and diluted EPS |
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Three Months Ended
September 30, |
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Nine Months Ended
September 30,
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2012 |
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2011 |
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|
2012 |
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|
2011 |
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NUMERATOR
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Income from continuing operations
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$ |
4,498 |
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$ |
310 |
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$ |
9,993 |
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$ |
13,569 |
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Less: Net income attributable to restricted shares
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|
|
(133 |
) |
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|
(132 |
) |
|
|
(396 |
) |
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|
(350 |
) |
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Plus: Loss from continuing operations attributable to Predecessor’s noncontrolling interests in consolidated real estate
entities
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|
— |
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|
— |
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|
|
— |
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2,454 |
|
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Less: Income from continuing operations attributable to Predecessor’s controlled owners’ equity
|
|
|
— |
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|
|
— |
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|
|
— |
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|
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(17,009 |
) |
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Less: (Income) loss from continuing operations attributable to unitholders in the Operating Partnership
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|
|
(1,403 |
) |
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|
(57 |
) |
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|
(3,090 |
) |
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|
427 |
|
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Income (loss) from continuing operations attributable to American Assets Trust, Inc. common
stockholders—basic
|
|
|
2,962 |
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|
|
121 |
|
|
|
6,507 |
|
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(909 |
) |
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Plus: Results from discontinued operations attributable to American Assets Trust, Inc. common stockholders
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|
|
(145 |
) |
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|
2,931 |
|
|
|
(145 |
) |
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|
3,482 |
|
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|
|
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Net income attributable to common stockholders—basic
|
|
$ |
2,817 |
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$ |
3,052 |
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$ |
6,362 |
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$ |
2,573 |
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|
|
|
|
|
|
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Income (loss) from continuing operations attributable to American Assets Trust, Inc. common
stockholders—basic
|
|
$ |
2,962 |
|
|
$ |
121 |
|
|
$ |
6,507 |
|
|
$ |
(909 |
) |
|
Plus: Income (loss) from continuing operations attributable to unitholders in the Operating Partnership
|
|
|
1,403 |
|
|
|
57 |
|
|
|
3,090 |
|
|
|
(427 |
) |
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Income (loss) from continuing operations attributable to common stockholders—diluted
|
|
|
4,365 |
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|
178 |
|
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|
9,597 |
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(1,336 |
) |
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Plus: Results from discontinued operations attributable to American Assets Trust, Inc. common stockholders
|
|
|
(145 |
) |
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|
2,931 |
|
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|
(145 |
) |
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|
3,482 |
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Plus: Results from discontinued operations attributable to unitholders in the Operating Partnership
|
|
|
(68 |
) |
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|
1,377 |
|
|
|
(68 |
) |
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|
1,636 |
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Net income attributable to common stockholders—diluted
|
|
$ |
4,152 |
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$ |
4,486 |
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$ |
9,384 |
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$ |
3,782 |
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DENOMINATOR
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Weighted average common shares outstanding—basic
|
|
|
38,673,617 |
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|
38,655,084 |
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|
|
38,663,352 |
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|
|
36,106,397 |
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Effect of dilutive securities—conversion of Operating Partnership units
|
|
|
18,380,808 |
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18,396,089 |
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18,391,073 |
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17,159,251 |
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Weighted average common shares outstanding—diluted
|
|
|
57,054,425 |
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|
57,051,173 |
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|
57,054,425 |
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|
53,265,648 |
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EARNINGS (LOSS) PER COMMON SHARE-BASIC
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|
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Continuing operations
|
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$ |
0.08 |
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|
$ |
— |
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|
$ |
0.17 |
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|
$ |
(0.03 |
) |
|
Discontinued operations
|
|
|
— |
|
|
|
0.08 |
|
|
|
— |
|
|
|
0.10 |
|
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|
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$ |
0.08 |
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$ |
0.08 |
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$ |
0.17 |
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|
$ |
0.07 |
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EARNINGS (LOSS) PER COMMON SHARE-DILUTED
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|
|
|
|
|
|
|
|
Continuing operations
|
|
$ |
0.08 |
|
|
$ |
— |
|
|
$ |
0.17 |
|
|
$ |
(0.03 |
) |
|
Discontinued operations
|
|
|
— |
|
|
|
0.08 |
|
|
|
— |
|
|
|
0.10 |
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
$ |
0.08 |
|
|
$ |
0.08 |
|
|
$ |
0.17 |
|
|
$ |
0.07 |
|
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