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EQUITY OF AMERICAN ASSETS TRUST, INC. (Tables)
9 Months Ended
Sep. 30, 2023
Equity [Abstract]  
Schedule 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, 2023:
PeriodAmount per
Share/Unit
Period CoveredDividend Paid Date
First Quarter 2023$0.33 January 1, 2023 to March 31, 2023March 23, 2023
Second Quarter 2023$0.33 April 1, 2023 to June 30, 2023June 22, 2023
Third Quarter 2023$0.33 July 1, 2023 to September 30, 2023September 21, 2023
Schedule of Activity of Restricted Stock Awards The following table summarizes the activity of restricted stock awards during the nine months ended September 30, 2023:
UnitsWeighted Average Grant Date Fair Value
Nonvested at January 1, 2023574,044 $20.98 
Granted10,348 19.33 
Vested(6,072)32.94 
Forfeited(4,371)20.92 
Nonvested at September 30, 2023573,949 $20.87 
Schedule 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,
2023202220232022
NUMERATOR
Net income$15,135 $16,369 $51,198 $43,471 
Less: Net income attributable to restricted shares(189)(155)(568)(464)
Less: Income from operations attributable to unitholders in the Operating Partnership
(3,168)(3,442)(10,733)(9,130)
Net income attributable to common stockholders—basic
$11,778 $12,772 $39,897 $33,877 
Income from operations attributable to American Assets Trust, Inc. common stockholders—basic
$11,778 $12,772 $39,897 $33,877 
Plus: Income from operations attributable to unitholders in the Operating Partnership
3,168 3,442 10,733 9,130 
Net income attributable to common stockholders—diluted
$14,946 $16,214 $50,630 $43,007 
DENOMINATOR
Weighted average common shares outstanding—basic60,150,681 60,044,117 60,147,189 60,041,034 
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—diluted76,332,218 76,225,654 76,328,726 76,222,571 
Earnings per common share, basic$0.20 $0.21 $0.66 $0.56 
Earnings per common share, diluted$0.20 $0.21 $0.66 $0.56