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AMERICAN ASSETS TRUST American Assets Trust , Inc. Reports Second Quarter 2021 Financial Results Net income available to common stockholders of $ 8.9 million and $ 10.2 million for the three and six months ended June 30 , 2021 , respectively , or $ 0.15 and $ 0.17 per diluted share , respectively Funds From Operations per diluted share increased 6 % and decreased 14 % year - over - year for the three and six months ended June 30 , 2021 , respectively , or $ 0.51 and $ 0.89 per diluted share , respectively On a sequential basis , Funds From Operations per diluted share increased 34 % from the first to the second quarter of 2021 , from $ 0.38 to $ 0.51 per diluted share SAN DIEGO , California - 7/27/2021 - American Assets Trust , Inc. ( NYSE : AAT ) ( the " company " ) today reported financial results for its second quarter ended June 30 , 2021 . Second Quarter Highlights • • • • • • • • Net income available to common stockholders of $ 8.9 million and $ 10.2 million for the three and six months ended June 30 , 2021 , respectively , or $ 0.15 and $ 0.17 per diluted share , respectively . Funds From Operations increased 6 % and decreased 14 % year - over - year to $ 0.51 and $ 0.89 per diluted share for the three and six months ended June 30 , 2021 , respectively , compared to the same periods in 2020 . On a sequential basis , Funds From Operations per diluted share increased 34 % from the first to the second quarter of 2021 , from $ 0.38 to $ 0.51 per diluted share . Same - store cash NOI increased 23.3 % and 6.4 % year - over - year for the three and six months ended June 30 , 2021 , respectively . Excluding lease termination fees , same - store cash NOI would have been 23.0 % and 5.7 % for the three and six months ended June 30 , 2021 , respectively . For the three months ended June 30 , 2021 , we have collected 99 % of office rents , 92 % of retail rents ( including the retail component of Waikiki Beach Walk ) and 94 % of multifamily rents , that were due during the second quarter . Total collections increased to 96 % in the second quarter of 2021 . Leased approximately 47,000 comparable office square feet at an average straight - line basis and cash - basis contractual rent increase of 15 % and increase of 9 % , respectively , during the three months ended June 30 , 2021 . Leased approximately 110,000 comparable retail square feet at an average straight - line basis and cash - basis contractual rent decrease of 16 % and decrease of 20 % , respectively , during the three months ended June 30 , 2021 . Eastgate Office Park • Closed on acquisition of Eastgate Office Park on July 7 , 2021 , consisting of an approximately 280,000 square foot , multi - tenant office campus in the premier I - 90 corridor submarket of Bellevue , Washington for $ 125 million . Financial Results Net income attributable to common stockholders was $ 8.9 million , or $ 0.15 per basic and diluted share for the three months ended June 30 , 2021 compared to $ 7.7 million , or $ 0.13 per basic and diluted share for the three months ended June 30 , 2020. For the six months ended June 30 , 2021 , net income attributed to common stockholders was $ 10.2 million , or $ 0.17 per basic and diluted share compared to $ 19.7 million , or $ 0.33 per basic and diluted share for the six months ended June 30 , 2020. The year - over - year decrease in net income attributable to common stockholders is primarily due to ( i ) a $ 4.3 million debt extinguishment charge related to the repayment of the 1