Core Insights - Five stocks have been added to the Zacks Rank 1 (Strong Buy) List, indicating strong potential for investment Group 1: Company Earnings Estimates - American Assets Trust, Inc. (AAT) has seen a 10% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [1] - Quad/Graphics, Inc. (QUAD) has experienced a 10.5% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [1] - Corcept Therapeutics Incorporated (CORT) has seen a 13.6% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] - Comerica Incorporated (CMA) has experienced a 6.3% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] - ADT Inc. (ADT) has seen a 12.1% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [3]

Group 1: Stock Recommendations - Quad/Graphics, Inc. (QUAD) has a Zacks Rank 1 and a 10.5% increase in the Zacks Consensus Estimate for current year earnings over the last 60 days, with a P/E ratio of 7.57 compared to the industry average of 15.10, and a Value Score of A [1] - ADT Inc. (ADT) also holds a Zacks Rank 1, with a 12.1% increase in the Zacks Consensus Estimate for current year earnings over the last 60 days, a P/E ratio of 9.80 versus the industry average of 14.70, and a Value Score of A [2] - American Assets Trust, Inc. (AAT) carries a Zacks Rank 1, with a 10% increase in the Zacks Consensus Estimate for current year earnings over the last 60 days, a P/E ratio of 10.53 compared to the industry average of 14.70, and a Value Score of B [3]

Core Viewpoint - Three stocks are highlighted for investors to consider, all with strong income characteristics and a buy rank as of November 5th Group 1: American Assets Trust, Inc. (AAT) - AAT is a self-administered real estate investment trust with a Zacks Rank 1 [1] - The Zacks Consensus Estimate for its current year earnings has increased by 10% over the last 60 days [1] - AAT offers a dividend yield of 5%, which is higher than the industry average of 3.9% [1] Group 2: Comerica Incorporated (CMA) - CMA provides financial products and services and holds a Zacks Rank 1 [2] - The Zacks Consensus Estimate for its current year earnings has risen by 6.3% over the last 60 days [2] - CMA has a dividend yield of 4.5%, surpassing the industry average of 3.4% [2] Group 3: Provident Financial Holdings, Inc. (PROV) - PROV is a bank holding company for Provident Savings Bank, F.S.B. and has a Zacks Rank 1 [3] - The Zacks Consensus Estimate for its current year earnings has increased by 5% over the last 60 days [3] - PROV offers a dividend yield of 3.6%, which is above the industry average of 3% [3]

Financial Performance - Total revenue for Q3 2024 was $122.81 million, a 10.5% increase from $111.20 million in Q3 2023[20] - Net income attributable to American Assets Trust, Inc. stockholders for Q3 2024 was $16.66 million, up 41.5% from $11.78 million in Q3 2023[20] - Earnings per common share, basic, increased to $0.28 in Q3 2024 from $0.20 in Q3 2023, representing a 40% growth[20] - The company reported an operating income of $37.81 million for Q3 2024, a 21.7% increase from $31.14 million in Q3 2023[20] - Net income for the nine months ended September 30, 2024, was $61,235,000, an increase from $51,198,000 for the same period in 2023, representing a growth of approximately 19.9%[25] - Comprehensive income attributable to American Assets Trust, Inc. was $12.77 million in Q3 2024, slightly up from $12.49 million in Q3 2023[20] - Comprehensive income for Q3 2024 was $16.14 million, slightly up from $15.80 million in Q3 2023[29] - Net income for the three months ended September 30, 2024, was $21.3 million, compared to $15.1 million for the same period in 2023, representing an increase of 41.5%[109] - Net income for the three months ended September 30, 2024, was $21.32 million, representing a 41% increase from $15.14 million for the same period in 2023[179] Cash and Liquidity - Cash and cash equivalents rose significantly to $533.00 million in Q3 2024 from $82.89 million in Q4 2023[17] - Total cash and cash equivalents at the end of the period reached $533,004,000, up from $89,968,000 at the end of the previous year, indicating a significant increase in liquidity[25] - Net cash provided by operating activities for the nine months ended September 30, 2024, was $166,464,000, compared to $149,905,000 for the same period in 2023, reflecting a growth of about 11%[25] - Cash paid for interest, net of amounts capitalized, was $54,047 thousand in 2024, up from $51,976 thousand in 2023, reflecting a growth of approximately 4.1%[46] Assets and Liabilities - Total assets increased to $3.40 billion in Q3 2024, compared to $2.98 billion in Q4 2023, reflecting a growth of 13.9%[18] - Unsecured notes payable increased to $2.03 billion in Q3 2024 from $1.61 billion in Q4 2023, indicating a rise of 25.9%[17] - Total liabilities increased to $2.26 billion as of September 30, 2024, from $1.83 billion at the end of 2023, marking a 23.5% rise[27] - The total stockholders' equity at September 30, 2024, was $1,137,961,000, compared to $1,168,650,000 at the end of the previous year, indicating a slight decline[23] Dividends and Distributions - Dividends declared per common share increased to $0.335 in Q3 2024 from $0.330 in Q3 2023[20] - Dividends paid to common stock and unitholders totaled $77,466,000 for the nine months ended September 30, 2024, slightly higher than $76,135,000 in the prior year[25] - The Company declared dividends of $0.335 per share/unit for each quarter in the first, second, and third quarters of 2024[103] Capital Expenditures - Capital expenditures for the nine months ended September 30, 2024, were $51,051,000, a decrease from $64,229,000 in the same period of 2023, showing a reduction in investment spending[25] - Capital expenditures for Q3 2024 totaled $26,339,000, an increase of 24.8% from $21,142,000 in Q3 2023[150] Rental Income and Property Performance - Rental income for the nine months ended September 30, 2024, was $315.66 million, a 1.1% increase from $312.10 million in the same period of 2023[29] - Property revenue for Q3 2024 reached $61,058,000, a 17.5% increase from $51,948,000 in Q3 2023[146] - Office rental revenue for the three months ended September 30, 2024, is $48,310,000, down from $50,212,000 in 2023, representing a decrease of 3.8%[135] - Retail rental revenue increased by $1.1 million to $26.81 million, driven by new tenant leases and scheduled rent increases[185] - Multifamily revenue rose by $1.1 million to $15.29 million, with average monthly base rent increasing to $2,733 and occupancy rising to 90.1%[186] Operating Expenses - Total operating expenses for Q3 2024 were $85.00 million, compared to $80.06 million in Q3 2023, marking a 6.1% increase[20] - General and administrative expenses for Q3 2024 were $9,068,000, compared to $8,880,000 in Q3 2023, indicating a rise of 2.1%[148] - Total property expenses increased by $1.1 million, or 3%, to $42.4 million for the three months ended September 30, 2024[190] Interest and Financing - Total interest costs incurred for 2024 were $56,681 thousand, an increase from $54,167 thousand in 2023, representing a rise of approximately 4.6%[46] - Interest expense, net for 2024 was $50,773 thousand, compared to $48,422 thousand in 2023, indicating an increase of about 4.9%[46] - The interest rate for Term Loan A is fixed at approximately 2.7% through its maturity date, while Term Loans B and C have variable rates subject to adjustments[74] Market and Portfolio Activity - The company continues to evaluate acquisition opportunities in primary markets to complement its portfolio and provide long-term growth[166] - The company owned or had a controlling interest in 31 properties as of September 30, 2024, including office, retail, multifamily, and mixed-use properties[40] - The occupancy rates for office, retail, multifamily, and mixed-use properties as of September 30, 2024, were 87.0%, 94.5%, 90.3%, and 96.3%, respectively[180]

Here are three stocks with buy rank and strong income characteristics for investors to consider today, November 1st:American Assets Trust (AAT) : This real estate investment trust, or REIT, that owns, operates, acquires and develops retail and office properties primarily in Southern California, Northern California and Hawaii, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 10.0% over the last 60 days.This Zacks Rank #1 (Strong Buy) company has a dividend yield of 5%, comp ...

Core Insights - Five stocks have been added to the Zacks Rank 1 (Strong Buy) List, indicating strong potential for investment Group 1: Company Performance - Champion Homes, Inc. (SKY) has seen a 24.8% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [1] - American Assets Trust (AAT) has experienced a 10% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] - Sotherly Hotels (SOHO) has reported a 7.8% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [3] - Tenet Healthcare (THC) has seen a 6.9% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [4] - Leidos (LDOS) has experienced a 5.6% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [5]

American Assets Trust, Inc. (NYSE:AAT) Q3 2024 Earnings Conference Call October 30, 2024 11:00 AM ET Company Participants Ernest Rady - Chairman & Chief Executive Officer Adam Wyll - President & Chief Operating Officer Bob Barton - Chief Financial Officer Steve Center - Senior Vice President, Office Properties Conference Call Participants Ravi Vaidya - Mizuho Reny Pire - Green Street Advisors Todd Thomas - KeyBanc Capital Markets Operator Welcome to American Assets Trust Inc.'s Third Quarter 2024 Earnings C ...

American Assets Trust (AAT) came out with quarterly funds from operations (FFO) of $0.71 per share, beating the Zacks Consensus Estimate of $0.54 per share. This compares to FFO of $0.59 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 31.48%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.53 per share when it actually produced FFO of $0.60, delivering a surprise of 13.21%.Over the last fo ...

THIRD QUARTER 2024 Supplemental Information Investor and Media Contact American Assets Trust, Inc. Robert F. Barton Executive Vice President and Chief Financial Officer 858-350-2607 American Assets Trust, Inc.'s Portfolio is concentrated in high-barrier-to-entry markets with favorable supply/demand characteristics | --- | --- | --- | --- | --- | --- | |-----------------|------------------------|--------------------------|-----------------------|-------------------------|--------| | Market | Office \nSquare ...

Net income available to common stockholders of $16.7 million and $47.8 million for the three and nine months ended September 30, 2024, respectively, or $0.28 and $0.79 per diluted share, respectively. Funds from Operations ("FFO") per diluted share increased 20% and 10% year-over-year for the three and nine months ended September 30, 2024, respectively, to $0.71 and $2.03 per diluted share, respectively. Increased 2024 FFO per diluted share guidance to a range of $2.51 to $2.55 with a midpoint of $2.53, a 1 ...