American Assets Trust, Inc. (AAT) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, and welcome to the American Assets Trust, Inc.' 's second quarter 2025 earnings call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. I would now like to turn the call over to Meliana Leverton, Associate General Counsel of American Assets Trust. Please go ahead. Thank you, and good morning. The statements made on this earnings call include forward-looking statements based on current expectations, which statements are subject to risks and uncertainties discussed in the company's filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, as actual events could cause the company's results to differ materially from these forward-looking statements. Yesterday afternoon, American Assets Trust's earnings release and supplemental information were furnished to the SEC on Form 8K. Both are now available on the investor section of its website, AmericanAssetsTrust.com. It is now my pleasure to turn the call over to Adam Weil, President and CEO of American Assets Trust. Good morning, everyone. At American Assets Trust, we approach every cycle with the same mindset. Stay nimble, stay thoughtful, and stay true to our strategy. Investing in our high-quality assets, maintaining balance sheet strength, and creating long-term value for our shareholders. That consistency has carried us through challenging environments before, and we believe it continues to serve us well today as we navigate elevated interest rates, persistent inflation, tariff uncertainty, and evolving tenant demand. In the second quarter of 2025, our results came in just above our own expectations. FFO per diluted share was $0.52, and same store, cash in ...