2022 Q1 Form 10-Q Financial Statement

#000150021722000041 Filed on April 29, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $101.5M $83.99M
YoY Change 20.82% -13.19%
Cost Of Revenue $35.57M $29.60M
YoY Change 20.18% -11.93%
Gross Profit $65.90M $54.39M
YoY Change 21.16% -13.85%
Gross Profit Margin 64.94% 64.76%
Selling, General & Admin $7.661M $7.216M
YoY Change 6.17% -1.51%
% of Gross Profit 11.63% 13.27%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $30.41M $27.50M
YoY Change 10.59% 0.14%
% of Gross Profit 46.15% 50.57%
Operating Expenses $7.661M $63.92M
YoY Change -88.02% -5.85%
Operating Profit $28.34M $20.06M
YoY Change 41.27% -30.46%
Interest Expense $14.67M $14.01M
YoY Change 4.72% 3.96%
% of Operating Profit 51.75% 69.81%
Other Income/Expense, Net -$162.0K -$53.00K
YoY Change 205.66% -149.07%
Pretax Income $13.51M $1.730M
YoY Change 681.16% -88.82%
Income Tax $198.0K $127.0K
% Of Pretax Income 1.47% 7.34%
Net Earnings $13.51M $1.257M
YoY Change 975.1% -89.58%
Net Earnings / Revenue 13.32% 1.5%
Basic Earnings Per Share $0.18 $0.02
Diluted Earnings Per Share $0.18 $0.02
COMMON SHARES
Basic Shares Outstanding 60.04M shares 59.98M shares
Diluted Shares Outstanding 76.22M shares 76.17M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $73.57M $380.4M
YoY Change -80.66% 625.95%
Cash & Equivalents $73.57M $380.4M
Short-Term Investments
Other Short-Term Assets $9.004M $7.800M
YoY Change 15.44% 4.0%
Inventory
Prepaid Expenses
Receivables $7.876M $6.000M
Other Receivables $0.00 $0.00
Total Short-Term Assets $90.45M $394.2M
YoY Change -77.05% 475.47%
LONG-TERM ASSETS
Property, Plant & Equipment $2.757B $2.510B
YoY Change 9.85% -1.49%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.430M $2.500M
YoY Change -2.8% -44.44%
Total Long-Term Assets $2.921B $2.655B
YoY Change 10.0% -1.21%
TOTAL ASSETS
Total Short-Term Assets $90.45M $394.2M
Total Long-Term Assets $2.921B $2.655B
Total Assets $3.011B $3.049B
YoY Change -1.25% 10.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $68.80M $71.20M
YoY Change -3.38% 5.79%
Accrued Expenses $27.38M $29.50M
YoY Change -7.19% 10.07%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $104.5M $107.3M
YoY Change -2.65% 4.79%
LONG-TERM LIABILITIES
Long-Term Debt $1.649B $1.648B
YoY Change 0.07% 26.08%
Other Long-Term Liabilities $50.80M $58.20M
YoY Change -12.72% -11.01%
Total Long-Term Liabilities $1.700B $1.706B
YoY Change -0.36% 24.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $104.5M $107.3M
Total Long-Term Liabilities $1.700B $1.706B
Total Liabilities $1.805B $1.814B
YoY Change -0.48% 22.96%
SHAREHOLDERS EQUITY
Retained Earnings -$226.5M -$192.1M
YoY Change 17.9% 27.87%
Common Stock $1.455B $1.448B
YoY Change 0.53% -0.42%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.236B $1.258B
YoY Change
Total Liabilities & Shareholders Equity $3.011B $3.049B
YoY Change -1.25% 10.64%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $13.51M $1.257M
YoY Change 975.1% -89.58%
Depreciation, Depletion And Amortization $30.41M $27.50M
YoY Change 10.59% 0.14%
Cash From Operating Activities $39.15M $42.51M
YoY Change -7.9% -6.3%
INVESTING ACTIVITIES
Capital Expenditures -$75.00M -$11.40M
YoY Change 557.86% -44.39%
Acquisitions
YoY Change
Other Investing Activities -$2.299M -$800.0K
YoY Change 187.38% -76.47%
Cash From Investing Activities -$77.30M -$12.22M
YoY Change 532.74% -48.94%
FINANCING ACTIVITIES
Cash Dividend Paid $24.55M $21.46M
YoY Change 14.36% -6.43%
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$27.81M $212.8M
YoY Change -113.07% -387.35%
NET CHANGE
Cash From Operating Activities $39.15M $42.51M
Cash From Investing Activities -$77.30M -$12.22M
Cash From Financing Activities -$27.81M $212.8M
Net Change In Cash -$65.95M $243.1M
YoY Change -127.13% -561.97%
FREE CASH FLOW
Cash From Operating Activities $39.15M $42.51M
Capital Expenditures -$75.00M -$11.40M
Free Cash Flow $114.1M $53.91M
YoY Change 111.75% -18.15%

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NetCashProvidedByUsedInOperatingActivities
42505000 USD
CY2022Q1 us-gaap Payments To Acquire Commercial Real Estate
PaymentsToAcquireCommercialRealEstate
45167000 USD
CY2021Q1 us-gaap Payments To Acquire Commercial Real Estate
PaymentsToAcquireCommercialRealEstate
0 USD
CY2022Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
29829000 USD
CY2021Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
11372000 USD
CY2022Q1 us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
2299000 USD
CY2021Q1 us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
844000 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-77295000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-12216000 USD
CY2022Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
CY2021Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
100000000 USD
CY2022Q1 us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
0 USD
CY2021Q1 us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
494675000 USD
CY2022Q1 us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
0 USD
CY2021Q1 us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
155375000 USD
CY2022Q1 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
0 USD
CY2021Q1 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
0 USD
CY2022Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
3245000 USD
CY2021Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
5025000 USD
CY2022Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
24545000 USD
CY2021Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
21463000 USD
CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
15000 USD
CY2021Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-27805000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
212812000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-65951000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
243101000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
139524000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
139049000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
73573000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
382150000 USD
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
73573000 USD
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
380434000 USD
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
0 USD
CY2021Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1716000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
73573000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
382150000 USD
CY2022Q1 dei Entity Number Of Employees
EntityNumberOfEmployees
207 employee
CY2022Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
31 property
CY2022Q1 aat Real Estate Properties Held For Development
RealEstatePropertiesHeldForDevelopment
3 property
CY2022Q1 us-gaap Interest Costs Incurred
InterestCostsIncurred
15847000 USD
CY2021Q1 us-gaap Interest Costs Incurred
InterestCostsIncurred
14564000 USD
CY2022Q1 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
1181000 USD
CY2021Q1 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
559000 USD
CY2022Q1 us-gaap Interest Expense
InterestExpense
14666000 USD
CY2021Q1 us-gaap Interest Expense
InterestExpense
14005000 USD
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
19722000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
13069000 USD
CY2022Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
127000 USD
CY2021Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
71000 USD
CY2022Q1 aat Increase Decrease Accrued Constructionin Progress
IncreaseDecreaseAccruedConstructioninProgress
19677000 USD
CY2021Q1 aat Increase Decrease Accrued Constructionin Progress
IncreaseDecreaseAccruedConstructioninProgress
7109000 USD
CY2022Q1 aat Increase Decrease Accrued Leasing Commissions
IncreaseDecreaseAccruedLeasingCommissions
3389000 USD
CY2021Q1 aat Increase Decrease Accrued Leasing Commissions
IncreaseDecreaseAccruedLeasingCommissions
631000 USD
CY2022Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4 segment
CY2022Q1 aat Number Of Rooms In Mixed Use Segment All Suite Hotel
NumberOfRoomsInMixedUseSegmentAllSuiteHotel
369 room
CY2022Q1 us-gaap Revenue Recognition Leases
RevenueRecognitionLeases
<div style="margin-top:14pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Revenue Recognition and Accounts Receivable</span></div><div style="margin-top:4.5pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our leases with tenants are classified as operating leases. Substantially all such leases contain fixed rent escalations which occur at specified times during the term of the lease. Base rents are recognized on a straight-line basis from when the tenant controls the space through the term of the related lease, net of valuation adjustments, based on management's assessment of credit, collection and other business risks.</span></div><div style="margin-top:4.5pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We make estimates of the collectability of our current accounts receivable and straight-line rents receivable which require significant judgment by management. The collectability of receivables is affected by numerous different factors including current economic conditions, the impact of tenant bankruptcies, the status of collectability of current cash rents receivable, tenants' recent and historical financial and operating results, changes in our tenants' credit ratings, communications between our operating personnel and tenants, the extent of security deposits and letters of credit held with respect to tenants, and the ability of tenants to perform under the terms of their lease agreement. The provision for doubtful accounts at March 31, 2022 and December 31, 2021 was approximately $4.4 million and $4.6 million, respectively.</span></div><div style="margin-top:14pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Rent Concessions – COVID-19</span></div><div style="text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In 2021, we provided lease concessions to certain tenants, primarily within the retail segment, as a result of the COVID-19 pandemic, in the form of rent deferrals and abatements. These lease concessions generally included an increase in our rights as a lessor. We assess each lease concession and determine whether it represents a lease modifications under Accounting Standards Codification Topic 842, Leases ("ASC 842"). During the first quarter of 2022, we provided an immaterial amount of lease concessions to certain tenants that continued being impacted by the Covid-19 pandemic.</span></div>
CY2022Q1 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
4400000 USD
CY2021Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
4600000 USD
CY2022Q1 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
59266000 USD
CY2021Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
58655000 USD
CY2022Q1 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
37093000 USD
CY2021Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
36253000 USD
CY2022Q1 us-gaap Below Market Lease Net
BelowMarketLeaseNet
22173000 USD
CY2021Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
22402000 USD
CY2022Q1 us-gaap Derivatives Methods Of Accounting Hedging Derivatives
DerivativesMethodsOfAccountingHedgingDerivatives
The effective portion of changes in the fair value of the derivatives that are designated as cash flow hedges are being recorded in accumulated other comprehensive income and will be subsequently reclassified into earnings during the period in which the hedged forecasted transaction affects earnings for as long as hedged cash flows remain probable. During the next twelve months, we estimate the cash flow hedges in place will reduce interest expense by approximately $1.1 million.The valuation of these instruments is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of the derivative.  This analysis reflects the contractual terms of the derivative, including the period to maturity, counter party credit risk and uses observable market-based inputs, including interest rate curves, and implied volatilities.  The fair value of the interest rate swap is determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts).  The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves.
CY2022Q1 us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
1100000 USD
CY2022Q1 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
41291000 USD
CY2021Q4 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
40595000 USD
CY2022Q1 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
40110000 USD
CY2021Q4 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
38589000 USD
CY2022Q1 us-gaap Derivative Assets
DerivativeAssets
3789000 USD
CY2021Q4 us-gaap Derivative Assets
DerivativeAssets
0 USD
CY2022Q1 aat Finite Lived Intangible Asset Off Market Lease Favorable Net
FiniteLivedIntangibleAssetOffMarketLeaseFavorableNet
138000 USD
CY2021Q4 aat Finite Lived Intangible Asset Off Market Lease Favorable Net
FiniteLivedIntangibleAssetOffMarketLeaseFavorableNet
149000 USD
CY2022Q1 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
28414000 USD
CY2021Q4 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
29085000 USD
CY2022Q1 aat Lease Incentive Accumulated Amortization
LeaseIncentiveAccumulatedAmortization
928000 USD
CY2021Q4 aat Lease Incentive Accumulated Amortization
LeaseIncentiveAccumulatedAmortization
913000 USD
CY2022Q1 us-gaap Incentive To Lessee
IncentiveToLessee
662000 USD
CY2021Q4 us-gaap Incentive To Lessee
IncentiveToLessee
595000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1477000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1382000 USD
CY2022Q1 us-gaap Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
2452000 USD
CY2021Q4 us-gaap Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
2445000 USD
CY2022Q1 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
2232000 USD
CY2021Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
2070000 USD
CY2022Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2430000 USD
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
0 USD
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
25678000 USD
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
26254000 USD
CY2022Q1 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
9004000 USD
CY2021Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
9136000 USD
CY2022Q1 us-gaap Other Assets
OtherAssets
112677000 USD
CY2021Q4 us-gaap Other Assets
OtherAssets
106253000 USD
CY2022Q1 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
22173000 USD
CY2021Q4 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
22402000 USD
CY2022Q1 us-gaap Deferred Revenue
DeferredRevenue
12964000 USD
CY2021Q4 us-gaap Deferred Revenue
DeferredRevenue
16309000 USD
CY2022Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
0 USD
CY2021Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
1807000 USD
CY2022Q1 aat Deferred Rent Expense And Lease Intangible
DeferredRentExpenseAndLeaseIntangible
0 USD
CY2021Q4 aat Deferred Rent Expense And Lease Intangible
DeferredRentExpenseAndLeaseIntangible
3000 USD
CY2022Q1 us-gaap Deferred Compensation Liability Current And Noncurrent
DeferredCompensationLiabilityCurrentAndNoncurrent
2193000 USD
CY2021Q4 us-gaap Deferred Compensation Liability Current And Noncurrent
DeferredCompensationLiabilityCurrentAndNoncurrent
2503000 USD
CY2022Q1 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
967000 USD
CY2021Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
967000 USD
CY2022Q1 aat Deferred Rent Credits
DeferredRentCredits
13420000 USD
CY2021Q4 aat Deferred Rent Credits
DeferredRentCredits
14274000 USD
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
27378000 USD
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
27917000 USD
CY2022Q1 us-gaap Other Liabilities
OtherLiabilities
47000 USD
CY2021Q4 us-gaap Other Liabilities
OtherLiabilities
33000 USD
CY2022Q1 us-gaap Deferred Credits And Other Liabilities
DeferredCreditsAndOtherLiabilities
79142000 USD
CY2021Q4 us-gaap Deferred Credits And Other Liabilities
DeferredCreditsAndOtherLiabilities
86215000 USD
CY2022Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.32
CY2022Q1 us-gaap Restricted Stock Expense
RestrictedStockExpense
1500000 USD
CY2021Q1 us-gaap Restricted Stock Expense
RestrictedStockExpense
1500000 USD
CY2022Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
13514000 USD
CY2021Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
1733000 USD
CY2022Q1 aat Net Income Attributable To Restricted Share
NetIncomeAttributableToRestrictedShare
155000 USD
CY2021Q1 aat Net Income Attributable To Restricted Share
NetIncomeAttributableToRestrictedShare
137000 USD
CY2022Q1 aat Minority Interest In Continuing Operations Income Loss Operating Partnerships
MinorityInterestInContinuingOperationsIncomeLossOperatingPartnerships
-2836000 USD
CY2021Q1 aat Minority Interest In Continuing Operations Income Loss Operating Partnerships
MinorityInterestInContinuingOperationsIncomeLossOperatingPartnerships
-339000 USD
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
10523000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1257000 USD
CY2022Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
10523000 USD
CY2021Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
1257000 USD
CY2022Q1 aat Minority Interest In Continuing Operations Income Loss Operating Partnerships Diluted
MinorityInterestInContinuingOperationsIncomeLossOperatingPartnershipsDiluted
2836000 USD
CY2021Q1 aat Minority Interest In Continuing Operations Income Loss Operating Partnerships Diluted
MinorityInterestInContinuingOperationsIncomeLossOperatingPartnershipsDiluted
339000 USD
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
13359000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1596000 USD
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60038683 shares
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59984335 shares
CY2022Q1 aat Incremental Common Shares Attributable To Conversion Of Operating Partnership Units
IncrementalCommonSharesAttributableToConversionOfOperatingPartnershipUnits
16181537 shares
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.18
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
CY2021Q1 aat Incremental Common Shares Attributable To Conversion Of Operating Partnership Units
IncrementalCommonSharesAttributableToConversionOfOperatingPartnershipUnits
16181537 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
76220220 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
76165872 shares
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.18
CY2022Q1 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
1000000 USD
CY2021Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
1000000 USD
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
200000 USD
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
100000 USD
CY2022Q1 us-gaap Loss On Contract Termination For Default
LossOnContractTerminationForDefault
4000000 USD
CY2022Q1 aat Number Of Consolidated Properties
NumberOfConsolidatedProperties
15 property
CY2022Q1 aat Maximum Percentage Of Revenue Provided By Any Single Tenant
MaximumPercentageOfRevenueProvidedByAnySingleTenant
0.10
CY2022Q1 aat Years Minimum Term Range Of Office And Retail Leases
YearsMinimumTermRangeOfOfficeAndRetailLeases
P3Y
CY2022Q1 aat Years Maximum Term Range Of Office And Retail Leases
YearsMaximumTermRangeOfOfficeAndRetailLeases
P10Y
CY2022Q1 aat Months Minimum Term Of Apartment Leases
MonthsMinimumTermOfApartmentLeases
P7M
CY2022Q1 aat Months Maximum Term Length Of Apartment Leases
MonthsMaximumTermLengthOfApartmentLeases
P15M
CY2022Q1 aat Operating Leases Rental Period Terms
OperatingLeasesRentalPeriodTerms
P12M
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3531000 USD
CY2022Q1 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
239547000 USD
CY2022Q1 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
234623000 USD
CY2022Q1 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
205630000 USD
CY2022Q1 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
181665000 USD
CY2022Q1 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
166468000 USD
CY2022Q1 aat Lessor Operating Lease Payment To Be Received After Year Four
LessorOperatingLeasePaymentToBeReceivedAfterYearFour
409675000 USD
CY2022Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
1437608000 USD
CY2022Q1 aat Operating Leases Rental Period Terms
OperatingLeasesRentalPeriodTerms
P12M
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2436000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3328000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3428000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3584000 USD
CY2022Q1 aat Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
16126000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
32433000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
5055000 USD
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
27378000 USD
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
844000 USD
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1132000 USD
CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
0 USD
CY2021Q1 us-gaap Variable Lease Cost
VariableLeaseCost
0 USD
CY2022Q1 us-gaap Sublease Income
SubleaseIncome
763000 USD
CY2021Q1 us-gaap Sublease Income
SubleaseIncome
1194000 USD
CY2022Q1 us-gaap Lease Cost
LeaseCost
81000 USD
CY2021Q1 us-gaap Lease Income
LeaseIncome
62000 USD
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y3M18D
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0319
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
796000 USD
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
865000 USD
CY2022Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
482000 USD
CY2021Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
526000 USD
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8055000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3271000 USD
CY2022Q1 aat Other Real Estate Rental Revenue
OtherRealEstateRentalRevenue
642000 USD
CY2021Q1 aat Other Real Estate Rental Revenue
OtherRealEstateRentalRevenue
571000 USD
CY2022Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
96986000 USD
CY2021Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
81130000 USD
CY2022Q1 us-gaap Straight Line Rent
StraightLineRent
3700000 USD
CY2021Q1 us-gaap Straight Line Rent
StraightLineRent
5500000 USD
CY2022Q1 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
800000 USD
CY2021Q1 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
800000 USD
CY2022Q1 aat Direct Costs Of Leased Property Lessor Expense
DirectCostsOfLeasedPropertyLessorExpense
11144000 USD
CY2021Q1 aat Direct Costs Of Leased Property Lessor Expense
DirectCostsOfLeasedPropertyLessorExpense
9496000 USD
CY2022Q1 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
5648000 USD
CY2021Q1 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
2724000 USD
CY2022Q1 us-gaap Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
4760000 USD
CY2021Q1 us-gaap Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
3742000 USD
CY2022Q1 us-gaap Marketing Expense
MarketingExpense
519000 USD
CY2021Q1 us-gaap Marketing Expense
MarketingExpense
393000 USD
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
809000 USD
CY2021Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
1152000 USD
CY2022Q1 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
809000 USD
CY2021Q1 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
532000 USD
CY2022Q1 us-gaap Management Fee Expense
ManagementFeeExpense
456000 USD
CY2021Q1 us-gaap Management Fee Expense
ManagementFeeExpense
207000 USD
CY2022Q1 us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
24145000 USD
CY2021Q1 us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
18246000 USD
CY2022Q1 us-gaap Interest And Other Income
InterestAndOtherIncome
36000 USD
CY2021Q1 us-gaap Interest And Other Income
InterestAndOtherIncome
74000 USD
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
198000 USD
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
127000 USD
CY2022Q1 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
0 USD
CY2021Q1 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
0 USD
CY2022Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-162000 USD
CY2021Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-53000 USD
CY2022Q1 aat Percentage Of Investment In Related Party
PercentageOfInvestmentInRelatedParty
0.477
CY2022Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4 segment
CY2022Q1 aat Number Of Rooms In Mixed Use Segment All Suite Hotel
NumberOfRoomsInMixedUseSegmentAllSuiteHotel
369 room
CY2022Q1 us-gaap Gross Profit
GrossProfit
65896000 USD
CY2021Q1 us-gaap Gross Profit
GrossProfit
54386000 USD
CY2022Q1 us-gaap Gross Profit
GrossProfit
65896000 USD
CY2021Q1 us-gaap Gross Profit
GrossProfit
54386000 USD
CY2022Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7142000 USD
CY2021Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6823000 USD
CY2022Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
30412000 USD
CY2021Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
27501000 USD
CY2022Q1 us-gaap Interest Expense
InterestExpense
14666000 USD
CY2021Q1 us-gaap Interest Expense
InterestExpense
14005000 USD
CY2022Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2021Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-4271000 USD
CY2022Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-162000 USD
CY2021Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-53000 USD
CY2022Q1 us-gaap Profit Loss
ProfitLoss
13514000 USD
CY2021Q1 us-gaap Profit Loss
ProfitLoss
1733000 USD
CY2022Q1 aat Net Income Attributable To Restricted Share
NetIncomeAttributableToRestrictedShare
155000 USD
CY2021Q1 aat Net Income Attributable To Restricted Share
NetIncomeAttributableToRestrictedShare
137000 USD
CY2022Q1 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
2836000 USD
CY2021Q1 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
339000 USD
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
10523000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1257000 USD
CY2022Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2731457000 USD
CY2021Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2681981000 USD
CY2022Q1 us-gaap Notes Payable
NotesPayable
111000000 USD
CY2021Q4 us-gaap Notes Payable
NotesPayable
111000000 USD
CY2022Q1 aat Capital Expendituresand Leasing Commissions
CapitalExpendituresandLeasingCommissions
32128000 USD
CY2021Q1 aat Capital Expendituresand Leasing Commissions
CapitalExpendituresandLeasingCommissions
12216000 USD

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