American Assets Trust, Inc. (AAT) has reported a 3.45 percent fall in profit for the quarter ended Mar. 31, 2017. The company has earned $7.39 million, or $0.16 a share in the quarter, compared with $7.65 million, or $0.17 a share for the same period last year.     

Revenue from real estate activities during the quarter increased 4.33 percent or $3.06 million to $73.79 million.

Cost of revenue rose 9.20 percent or $2.31 million during the quarter to $27.40 million. Gross margin for the quarter contracted 166 basis points over the previous year period to 62.88 percent.

Total expenses were $50.46 million for the quarter, up 7.17 percent or $3.38 million from year-ago period. Operating margin for the quarter contracted 181 basis points over the previous year period to 31.61 percent.

Operating income for the quarter was $23.33 million, compared with $23.64 million in the previous year period.

For financial year 2017, the company projects diluted earnings per share to be in the range of $2 to $2.06.

Income from operating leases during the quarter rose 4.16 percent or $2.80 million to $70.04 million.

Revenue from other real estate activities during the quarter was $3.75 million, up 7.63 percent or $0.27 million from year-ago period.

Total assets stood at $2,115.34million as on Mar. 31, 2017. On the other hand, total liabilities were at $1,253.63 million as on Mar. 31, 2017.

Return on assets was at 1.12 percent in the quarter. At the same time, return on equity was at 0.86 percent in the quarter.

Total debt was at $1,160.50 million as on Mar. 31, 2017. Shareholders equity was at $861.71 million as on Mar. 31, 2017. Meanwhile, debt to equity ratio was at 1.35 percent in the quarter.