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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
REVENUE:    
Rental income $ 105,021 $ 102,710
Other property income 5,674 5,044
Total revenue 110,695 107,754
EXPENSES:    
Rental expenses 29,841 27,506
Real estate taxes 11,246 11,632
General and administrative 8,842 8,999
Depreciation and amortization 30,217 29,901
Total operating expenses 80,146 78,038
OPERATING INCOME 30,549 29,716
Interest expense, net (16,255) (15,729)
Other income, net 10,329 6,679
NET INCOME 24,623 20,666
Net income attributable to restricted shares (196) (189)
Net income attributable to unitholders in the Operating Partnership (5,167) (4,341)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS $ 19,260 $ 16,136
EARNINGS PER COMMON SHARE, BASIC    
Earnings per common share, basic (in dollars per share) $ 0.32 $ 0.27
Weighted average shares of common stock outstanding - basic (in shares) 60,309,921 60,144,609
Earnings per common share, diluted    
Earnings per common share, diluted (in dollars per share) $ 0.32 $ 0.27
Weighted average shares of common stock outstanding - diluted (in shares) 76,491,458 76,326,146
DIVIDENDS DECLARED PER COMMON SHARE (in USD per share) $ 0.335 $ 0.330
COMPREHENSIVE INCOME    
Net income $ 24,623 $ 20,666
Other comprehensive income - unrealized income (loss) on swap derivatives during the period 1,392 (2,269)
Reclassification of amortization of forward-starting swap included in interest expense (98) (854)
Comprehensive income 25,917 17,543
Comprehensive income attributable to non-controlling interests (5,439) (3,677)
Comprehensive income attributable to American Assets Trust, Inc. $ 20,478 $ 13,866