2023 Q3 Form 10-Q Financial Statement

#000150021723000063 Filed on July 28, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $111.2M $109.7M
YoY Change 0.16% 5.34%
Cost Of Revenue $41.30M $39.80M
YoY Change 3.47% 7.15%
Gross Profit $69.89M $69.92M
YoY Change -1.72% 4.34%
Gross Profit Margin 62.85% 63.73%
Selling, General & Admin $9.371M $8.609M
YoY Change 5.71% 6.53%
% of Gross Profit 13.41% 12.31%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $29.90M $29.82M
YoY Change -5.76% -4.07%
% of Gross Profit 42.78% 42.65%
Operating Expenses $9.371M $38.43M
YoY Change 5.71% 375.58%
Operating Profit $31.14M $31.49M
YoY Change 0.44% 11.22%
Interest Expense -$16.33M -$15.91M
YoY Change -212.94% -209.36%
% of Operating Profit -52.43% -50.51%
Other Income/Expense, Net $321.0K -$187.0K
YoY Change -278.33% 3.31%
Pretax Income $15.10M $15.40M
YoY Change -7.75% 13.31%
Income Tax $293.0K $187.0K
% Of Pretax Income 1.94% 1.21%
Net Earnings $15.14M $11.98M
YoY Change -7.54% -11.81%
Net Earnings / Revenue 13.61% 10.92%
Basic Earnings Per Share $0.20 $0.20
Diluted Earnings Per Share $0.20 $0.15
COMMON SHARES
Basic Shares Outstanding 60.72M shares 60.72M shares
Diluted Shares Outstanding 76.33M shares 76.33M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $90.00M $84.71M
YoY Change 41.89% 39.44%
Cash & Equivalents $89.97M $84.71M
Short-Term Investments
Other Short-Term Assets $11.00M $10.39M
YoY Change 14.19% -0.56%
Inventory
Prepaid Expenses
Receivables $7.900M $7.348M
Other Receivables $0.00 $0.00
Total Short-Term Assets $108.9M $102.4M
YoY Change 33.41% 30.65%
LONG-TERM ASSETS
Property, Plant & Equipment $2.737B $2.745B
YoY Change 0.06% -0.64%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.500M $1.620M
YoY Change -28.57%
Total Long-Term Assets $2.902B $2.910B
YoY Change -0.86% -0.64%
TOTAL ASSETS
Total Short-Term Assets $108.9M $102.4M
Total Long-Term Assets $2.902B $2.910B
Total Assets $3.011B $3.012B
YoY Change 0.07% 0.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $71.00M $62.96M
YoY Change -1.87% -5.08%
Accrued Expenses $23.90M $24.50M
YoY Change -8.98% -8.68%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $103.9M $96.14M
YoY Change -3.29% -5.45%
LONG-TERM LIABILITIES
Long-Term Debt $1.689B $1.688B
YoY Change 2.52% 2.35%
Other Long-Term Liabilities $48.50M $51.06M
YoY Change -41.03% -7.27%
Total Long-Term Liabilities $1.738B $1.739B
YoY Change 0.45% 2.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $103.9M $96.14M
Total Long-Term Liabilities $1.738B $1.739B
Total Liabilities $1.842B $1.798B
YoY Change 1.72% -0.53%
SHAREHOLDERS EQUITY
Retained Earnings -$270.8M -$262.7M
YoY Change 12.12% 11.76%
Common Stock $1.468B $1.466B
YoY Change 0.6% 0.59%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.209B $1.215B
YoY Change
Total Liabilities & Shareholders Equity $3.011B $3.012B
YoY Change 0.07% 0.18%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $15.14M $11.98M
YoY Change -7.54% -11.81%
Depreciation, Depletion And Amortization $29.90M $29.82M
YoY Change -5.76% -4.07%
Cash From Operating Activities $51.80M $46.15M
YoY Change -5.53% -1.61%
INVESTING ACTIVITIES
Capital Expenditures $19.80M $19.89M
YoY Change -178.4% -159.86%
Acquisitions
YoY Change
Other Investing Activities -$1.300M -$3.498M
YoY Change -31.61% 79.11%
Cash From Investing Activities -$21.10M -$23.39M
YoY Change -22.3% -33.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -25.40M -25.38M
YoY Change 1.6% 3.39%
NET CHANGE
Cash From Operating Activities 51.80M 46.15M
Cash From Investing Activities -21.10M -23.39M
Cash From Financing Activities -25.40M -25.38M
Net Change In Cash 5.300M -2.619M
YoY Change 97.69% -79.58%
FREE CASH FLOW
Cash From Operating Activities $51.80M $46.15M
Capital Expenditures $19.80M $19.89M
Free Cash Flow $32.00M $26.26M
YoY Change -60.04% -67.23%

Facts In Submission

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The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that in certain circumstances affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, and revenues and expenses. These estimates are prepared using our best judgment, after considering past, current and expected events and economic conditions. Actual results could differ from these estimates.
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31774000 usd
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
3766000 usd
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
2561000 usd
us-gaap Interest Expense
InterestExpense
32097000 usd
us-gaap Interest Expense
InterestExpense
29213000 usd
us-gaap Interest Paid Net
InterestPaidNet
30458000 usd
us-gaap Interest Paid Net
InterestPaidNet
28201000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
779000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
474000 usd
aat Increase Decrease Accrued Construction In Progress
IncreaseDecreaseAccruedConstructionInProgress
17223000 usd
aat Increase Decrease Accrued Construction In Progress
IncreaseDecreaseAccruedConstructionInProgress
19489000 usd
aat Increase Decrease Accrued Leasing Commissions
IncreaseDecreaseAccruedLeasingCommissions
1297000 usd
aat Increase Decrease Accrued Leasing Commissions
IncreaseDecreaseAccruedLeasingCommissions
2936000 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4 segment
CY2023Q2 aat Number Of Rooms In Mixed Use Segment All Suite Hotel
NumberOfRoomsInMixedUseSegmentAllSuiteHotel
369 room
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 June 30, 2023 and December 31, 2022 was approximately $1.8 million and $2.1 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="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%">Due to the impacts of COVID-19, from 2020 through 2022 we provided lease concessions to certain tenants, primarily</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">within the retail segment, in the form of rent deferrals and abatements. We assess each lease concession and determine whether</span></div>it represents a lease modification under Accounting Standards Codification Topic 842, Leases ("ASC 842").
CY2023Q2 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
1800000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
2100000 usd
CY2023Q2 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
52832000 usd
CY2022Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
52832000 usd
CY2023Q2 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
34766000 usd
CY2022Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
33168000 usd
CY2023Q2 us-gaap Below Market Lease Net
BelowMarketLeaseNet
18066000 usd
CY2022Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
19664000 usd
CY2022Q4 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
38436000 usd
CY2023Q2 us-gaap Derivative Assets
DerivativeAssets
11881000 usd
CY2022Q4 us-gaap Derivative Assets
DerivativeAssets
9986000 usd
CY2023Q2 aat Finite Lived Intangible Asset Off Market Lease Favorable Net
FiniteLivedIntangibleAssetOffMarketLeaseFavorableNet
86000 usd
CY2022Q4 aat Finite Lived Intangible Asset Off Market Lease Favorable Net
FiniteLivedIntangibleAssetOffMarketLeaseFavorableNet
107000 usd
CY2023Q2 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
20980000 usd
CY2022Q4 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
23526000 usd
CY2023Q2 aat Lease Incentive Accumulated Amortization
LeaseIncentiveAccumulatedAmortization
1111000 usd
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 $0.4 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, and counterparty 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.
us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
400000 usd
CY2023Q2 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
46768000 usd
CY2022Q4 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
43078000 usd
CY2023Q2 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
38044000 usd
CY2022Q4 us-gaap Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
2165000 usd
CY2023Q2 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
577000 usd
CY2022Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
0 usd
CY2023Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1620000 usd
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
0 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
22723000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
23921000 usd
CY2023Q2 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
10388000 usd
CY2022Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
9277000 usd
CY2023Q2 us-gaap Other Assets
OtherAssets
109154000 usd
CY2022Q4 us-gaap Other Assets
OtherAssets
108714000 usd
CY2023Q2 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
18066000 usd
CY2022Q4 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
19664000 usd
CY2023Q2 us-gaap Deferred Revenue
DeferredRevenue
19170000 usd
CY2022Q4 us-gaap Deferred Revenue
DeferredRevenue
17971000 usd
CY2023Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
0 usd
CY2022Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
196000 usd
CY2023Q2 us-gaap Deferred Compensation Liability Current And Noncurrent
DeferredCompensationLiabilityCurrentAndNoncurrent
2429000 usd
CY2022Q4 us-gaap Deferred Compensation Liability Current And Noncurrent
DeferredCompensationLiabilityCurrentAndNoncurrent
2411000 usd
CY2023Q2 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
852000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
852000 usd
CY2023Q2 aat Deferred Rent Credits
DeferredRentCredits
11349000 usd
CY2022Q4 aat Deferred Rent Credits
DeferredRentCredits
12746000 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
24501000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
25676000 usd
CY2023Q2 us-gaap Other Liabilities
OtherLiabilities
50000 usd
CY2022Q4 us-gaap Other Liabilities
OtherLiabilities
61000 usd
CY2023Q2 us-gaap Deferred Credits And Other Liabilities
DeferredCreditsAndOtherLiabilities
76417000 usd
CY2022Q4 us-gaap Deferred Credits And Other Liabilities
DeferredCreditsAndOtherLiabilities
79577000 usd
CY2023Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.33
CY2023Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.33
CY2023Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2100000 usd
CY2022Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2000000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
4100000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
3500000 usd
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
7900000 usd
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
571999 shares
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
483110 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
572623 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
484295 shares
CY2023Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
15397000 usd
CY2022Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
13588000 usd
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
36063000 usd
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
27102000 usd
CY2023Q2 aat Net Income Attributable To Restricted Share
NetIncomeAttributableToRestrictedShare
190000 usd
CY2022Q2 aat Net Income Attributable To Restricted Share
NetIncomeAttributableToRestrictedShare
154000 usd
aat Net Income Attributable To Restricted Share
NetIncomeAttributableToRestrictedShare
379000 usd
aat Net Income Attributable To Restricted Share
NetIncomeAttributableToRestrictedShare
309000 usd
CY2023Q2 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
3224000 usd
CY2022Q2 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
2852000 usd
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
7565000 usd
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
5688000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
11983000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
10582000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
28119000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
21105000 usd
CY2023Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
11983000 usd
CY2022Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
10582000 usd
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
28119000 usd
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
21105000 usd
CY2023Q2 aat Minority Interest In Continuing Operations Income Loss Operating Partnerships Diluted
MinorityInterestInContinuingOperationsIncomeLossOperatingPartnershipsDiluted
3224000 usd
CY2022Q2 aat Minority Interest In Continuing Operations Income Loss Operating Partnerships Diluted
MinorityInterestInContinuingOperationsIncomeLossOperatingPartnershipsDiluted
2852000 usd
aat Minority Interest In Continuing Operations Income Loss Operating Partnerships Diluted
MinorityInterestInContinuingOperationsIncomeLossOperatingPartnershipsDiluted
7565000 usd
aat Minority Interest In Continuing Operations Income Loss Operating Partnerships Diluted
MinorityInterestInContinuingOperationsIncomeLossOperatingPartnershipsDiluted
5688000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
15207000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
13434000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
35684000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
26793000 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60146210 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60040243 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60145414 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60039467 shares
CY2023Q2 aat Incremental Common Shares Attributable To Conversion Of Operating Partnership Units
IncrementalCommonSharesAttributableToConversionOfOperatingPartnershipUnits
16181537 shares
CY2022Q2 aat Incremental Common Shares Attributable To Conversion Of Operating Partnership Units
IncrementalCommonSharesAttributableToConversionOfOperatingPartnershipUnits
16181537 shares
aat Incremental Common Shares Attributable To Conversion Of Operating Partnership Units
IncrementalCommonSharesAttributableToConversionOfOperatingPartnershipUnits
16181537 shares
aat Incremental Common Shares Attributable To Conversion Of Operating Partnership Units
IncrementalCommonSharesAttributableToConversionOfOperatingPartnershipUnits
16181537 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
76327747 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
76221780 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
76326951 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
76221004 shares
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.18
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.47
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.35
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.20
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.18
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.47
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.35
CY2023Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
700000 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
700000 usd
CY2023Q2 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
900000 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
900000 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
200000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
500000 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
200000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
400000 usd
us-gaap Loss On Contract Termination For Default
LossOnContractTerminationForDefault
7000000 usd
aat Number Of Consolidated Properties
NumberOfConsolidatedProperties
15 property
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
186351000 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
241130000 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
221970000 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
205360000 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
179884000 usd
CY2023Q2 aat Lessor Operating Lease Payment To Be Received After Year Four
LessorOperatingLeasePaymentToBeReceivedAfterYearFour
332536000 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
1367231000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1689000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3428000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3531000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3584000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3584000 usd
CY2023Q2 aat Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
12543000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
28359000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3858000 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
24501000 usd
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
927000 usd
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
844000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
1854000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
1689000 usd
CY2023Q2 us-gaap Sublease Income
SubleaseIncome
836000 usd
CY2022Q2 us-gaap Sublease Income
SubleaseIncome
944000 usd
us-gaap Sublease Income
SubleaseIncome
1839000 usd
us-gaap Sublease Income
SubleaseIncome
1707000 usd
CY2023Q2 aat Lease Income Cost
LeaseIncomeCost
-91000 usd
CY2022Q2 aat Lease Income Cost
LeaseIncomeCost
100000 usd
aat Lease Income Cost
LeaseIncomeCost
-15000 usd
aat Lease Income Cost
LeaseIncomeCost
18000 usd
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0319
us-gaap Operating Lease Payments
OperatingLeasePayments
1640000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
1592000 usd
CY2023Q2 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
605000 usd
CY2022Q2 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
756000 usd
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
1160000 usd
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
1238000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10491000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
9414000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
20509000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
17469000 usd
CY2023Q2 aat Other Real Estate Rental Revenue
OtherRealEstateRentalRevenue
659000 usd
CY2022Q2 aat Other Real Estate Rental Revenue
OtherRealEstateRentalRevenue
630000 usd
aat Other Real Estate Rental Revenue
OtherRealEstateRentalRevenue
1325000 usd
aat Other Real Estate Rental Revenue
OtherRealEstateRentalRevenue
1272000 usd
CY2023Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
103901000 usd
CY2022Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
99016000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
206611000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
196002000 usd
CY2023Q2 us-gaap Straight Line Rent
StraightLineRent
1000000 usd
CY2022Q2 us-gaap Straight Line Rent
StraightLineRent
100000 usd
us-gaap Straight Line Rent
StraightLineRent
3200000 usd
us-gaap Straight Line Rent
StraightLineRent
3800000 usd
CY2023Q2 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
800000 usd
CY2022Q2 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
800000 usd
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
1600000 usd
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
1700000 usd
CY2023Q2 aat Direct Costs Of Leased Property Lessor Expense
DirectCostsOfLeasedPropertyLessorExpense
12911000 usd
CY2022Q2 aat Direct Costs Of Leased Property Lessor Expense
DirectCostsOfLeasedPropertyLessorExpense
11379000 usd
aat Direct Costs Of Leased Property Lessor Expense
DirectCostsOfLeasedPropertyLessorExpense
25351000 usd
aat Direct Costs Of Leased Property Lessor Expense
DirectCostsOfLeasedPropertyLessorExpense
22523000 usd
CY2023Q2 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
7343000 usd
CY2022Q2 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
6474000 usd
us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
14260000 usd
us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
12122000 usd
CY2023Q2 us-gaap Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
5411000 usd
CY2022Q2 us-gaap Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
5309000 usd
us-gaap Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
10646000 usd
us-gaap Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
10069000 usd
CY2023Q2 us-gaap Marketing Expense
MarketingExpense
569000 usd
CY2022Q2 us-gaap Marketing Expense
MarketingExpense
469000 usd
us-gaap Marketing Expense
MarketingExpense
1077000 usd
us-gaap Marketing Expense
MarketingExpense
988000 usd
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
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CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
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us-gaap Operating Lease Expense
OperatingLeaseExpense
1766000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
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CY2023Q2 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
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CY2022Q2 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
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ExciseAndSalesTaxes
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us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
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CY2023Q2 us-gaap Management Fee Expense
ManagementFeeExpense
578000 usd
CY2022Q2 us-gaap Management Fee Expense
ManagementFeeExpense
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us-gaap Management Fee Expense
ManagementFeeExpense
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us-gaap Management Fee Expense
ManagementFeeExpense
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CY2023Q2 us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
28711000 usd
CY2022Q2 us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
25853000 usd
us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
56216000 usd
us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
49998000 usd
CY2023Q2 us-gaap Interest And Other Income
InterestAndOtherIncome
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CY2022Q2 us-gaap Interest And Other Income
InterestAndOtherIncome
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us-gaap Interest And Other Income
InterestAndOtherIncome
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us-gaap Interest And Other Income
InterestAndOtherIncome
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CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
202000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
457000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
400000 usd
CY2023Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
0 usd
CY2022Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
0 usd
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
6515000 usd
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
0 usd
CY2023Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
273000 usd
CY2022Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-181000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4 segment
CY2023Q2 aat Number Of Rooms In Mixed Use Segment All Suite Hotel
NumberOfRoomsInMixedUseSegmentAllSuiteHotel
369 room
CY2023Q2 us-gaap Gross Profit
GrossProfit
69924000 usd
CY2022Q2 us-gaap Gross Profit
GrossProfit
67015000 usd
us-gaap Gross Profit
GrossProfit
138541000 usd
us-gaap Gross Profit
GrossProfit
132911000 usd
CY2023Q2 us-gaap Gross Profit
GrossProfit
69924000 usd
CY2022Q2 us-gaap Gross Profit
GrossProfit
67015000 usd
us-gaap Gross Profit
GrossProfit
138541000 usd
us-gaap Gross Profit
GrossProfit
132911000 usd
CY2023Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
8609000 usd
CY2022Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7612000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
17608000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
14754000 usd
CY2023Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
29823000 usd
CY2022Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
31087000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
59724000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
61499000 usd
CY2023Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-16368000 usd
CY2022Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-14547000 usd
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-32097000 usd
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-29213000 usd
CY2023Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
273000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
6951000 usd
us-gaap Profit Loss
ProfitLoss
36063000 usd
us-gaap Profit Loss
ProfitLoss
27102000 usd
CY2022Q2 aat Net Income Attributable To Restricted Share
NetIncomeAttributableToRestrictedShare
154000 usd
aat Net Income Attributable To Restricted Share
NetIncomeAttributableToRestrictedShare
379000 usd
aat Net Income Attributable To Restricted Share
NetIncomeAttributableToRestrictedShare
309000 usd
CY2023Q2 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
3224000 usd
CY2022Q2 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
2852000 usd
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
7565000 usd
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
5688000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
28119000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
21105000 usd
CY2023Q2 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2722207000 usd
CY2022Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2734556000 usd
CY2023Q2 us-gaap Notes Payable
NotesPayable
75000000 usd
CY2022Q4 us-gaap Notes Payable
NotesPayable
75000000 usd
CY2023Q2 aat Capital Expenditures And Leasing Commissions
CapitalExpendituresAndLeasingCommissions
23391000 usd
CY2022Q2 aat Capital Expenditures And Leasing Commissions
CapitalExpendituresAndLeasingCommissions
35184000 usd
aat Capital Expenditures And Leasing Commissions
CapitalExpendituresAndLeasingCommissions
49086000 usd
aat Capital Expenditures And Leasing Commissions
CapitalExpendituresAndLeasingCommissions
67312000 usd
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
us-gaap Revenues
Revenues
217475000 usd
CY2022Q2 us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
25853000 usd
us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
56216000 usd
CY2022Q2 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
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us-gaap Real Estate Tax Expense
RealEstateTaxExpense
22718000 usd
CY2022Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
17608000 usd
CY2022Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
31087000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
59724000 usd
CY2022Q2 aat Net Income Attributable To Restricted Share
NetIncomeAttributableToRestrictedShare
154000 usd
aat Net Income Attributable To Restricted Share
NetIncomeAttributableToRestrictedShare
379000 usd
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
7565000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
28119000 usd
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.18
us-gaap Profit Loss
ProfitLoss
36063000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-343000 usd
CY2023Q2 us-gaap Line Of Credit
LineOfCredit
0 usd
CY2023Q2 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
62961000 usd
CY2023Q2 us-gaap Security Deposit Liability
SecurityDepositLiability
8680000 usd
CY2023Q2 us-gaap Common Stock Value
CommonStockValue
607000 usd
CY2023Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
1465346000 usd
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-262745000 usd
CY2023Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
11524000 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
1214732000 usd
CY2023Q2 us-gaap Minority Interest
MinorityInterest
-38616000 usd
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1176116000 usd
CY2023Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3012460000 usd
CY2022Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
99016000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
206611000 usd
CY2022Q2 us-gaap Other Operating Income
OtherOperatingIncome
5139000 usd
us-gaap Other Operating Income
OtherOperatingIncome
10864000 usd
CY2022Q2 us-gaap Revenues
Revenues
104155000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
10582000 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60040243 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60145414 shares
CY2022Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-181000 usd

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