SAN DIEGO (AP) — SAN DIEGO (AP) — American Assets Trust Inc. (AAT) on Tuesday reported a key measure of profitability in its first quarter.

The real estate investment trust, based in San Diego, said it had funds from operations of $54.6 million, or 71 cents per share, in the period.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $19.3 million, or 32 cents per share.

The real estate investment trust posted revenue of $110.7 million in the period.

American Assets Trust expects full-year funds from operations in the range of $2.24 to $2.34 per share.

The company's shares have fallen 5% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $21.35, an increase of 19% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AAT at https://www.zacks.com/ap/AAT

For copyright information, check with the distributor of this item, STATS Perform dba Automated Insights. , source Associated Press News