American Assets Trust: Overview of Fourth Quarter Results

American Assets Trust Inc. (AAT) announced a key measure of its fourth quarter profitability on Tuesday. The results exceeded Wall Street expectations.

The San Diego-based real estate investment trust said it had operating funds of $40.8 million, or 54 cents per share, during the period.

The average estimate of three analysts polled by Zacks Investment Research was for funds from operations 47 cents per share.

Funds from operations is a closely watched metric in the REIT industry. It takes net income and adds items such as depreciation and amortization.

The company said it had net income of $8.1 million, or 14 cents per share.

The San Diego-based real estate investment trust posted revenue of $101.7 million during the period.

For the year, the company reported funds from operations of $152.3 million, or $2 per share. Revenue was reported at $375.8 million.

American Assets Trust expects funds from operations for the full year to be $2.09 to $2.17 per share.

Shares of the company have fallen 6.5% since the start of the year. In the final minutes of trading on Tuesday, shares hit $35.10, up 20% over the past 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AAT at https://www.zacks.com/ap/AAT