AAT Earnings Prediction
The chart below shows how AAT performed 10 days before and after its earnings report, based on data from the past quarters. Typically, AAT sees a -0.72% change in stock price 10 days leading up to the earnings, and a +0.45% change 10 days following the report. On the earnings day itself, the stock moves by +0.23%. This data can give you a slight idea of what to expect for the next quarter's release.
AAT Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
113.46M
0.86%
-7.61%
Gross Margin
34.26%
-0.84%
-10.24%
Operating Margin
26.48%
1.34%
-14.00%
Net Margin
10.21%
-14.85%
-41.19%
EPS
0.12
-45.45%
-65.71%
No Data Available
AAT Earnings Analysis
American Assets Trust Inc Corporation (AAT.N) Earnings Conference Call
Positive
Record FFO Per Share: Achieved highest FFO per share since IPO at $2.58 for the year 2024, marking back-to-back record years in 2022 and 2023.
Record Revenue Achievement: Total revenue reached a record of over $103 million, demonstrating strong financial performance across all segments.
Same Store Cash NOI Growth: Same store cash NOI growth of 2.6% year-over-year for Q4 2024, with all sectors showing positive growth except for the office sector.
Retail Segment Performance: Retail segment properties are 95% leased with a 5% same store NOI growth in 2024, supported by strong tenant sales and resilient consumer spending.
Quarterly Dividend Increase: Announced a 1.5% increase in quarterly dividend to $0.34 per share, reflecting confidence in long-term financial performance and outlook.
Negative
FFO Per Share Decline: Fourth quarter FFO per share decreased by approximately 0.16 to $0.55 compared to Q3 2024, primarily due to $0.15 in termination fees received in Q3 that were not present in Q4.
Same Store Cash NOI Growth: Same store cash NOI for all sectors combined grew only 2.6% year over year for Q4, with the office sector reporting a negative 2.8% cash NOI due to known move outs.
FFO Per Share Decline: 2025 FFO per share guidance is projected to decrease by approximately 24% to a range of $1.87 to $2.01, down from $2.58 in 2024, reflecting the absence of non-recurring revenue items from the previous year.
Interest Expense Impact: Interest expense is expected to increase in 2025, primarily due to the termination of capitalized interest and the issuance of senior notes, which will decrease FFO per share by approximately $0.06.
Credit Reserves Impact on FFO: Credit reserves are expected to decrease FFO by approximately $0.05 per share in 2025, reflecting conservative estimates due to potential risks with certain tenants.
AAT FAQs
How does AAT typically perform around its earnings report dates?
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AAT Earning Call Sentiment
Earnings call transcript: American Assets Trust beats Q4 2024 earnings expectations
AAT.N
-6.66%Positive
The earnings call presents a mixed outlook. While there are positive elements like increased dividends and stable year-over-year FFO, concerns about declining FFO in 2025, multifamily market risks, and unclear management responses during Q&A weigh on sentiment. The company's market cap suggests a moderate reaction, likely resulting in a neutral stock price movement over the next two weeks.