American Assets Trust, Inc. (NYSE:AAT) Q4 2018 Earnings Conference Call Transcript
Feb 13, 2019 • 11:00 am ET
Good day, ladies and gentlemen, and welcome to the American Assets Trust Fourth Quarter and Full Year 2018 Earnings Call. At this time, all participants are in a listen-only mode.
(Operator Instructions) As a reminder, today's conference maybe recorded. I'd now like to introduce your host for today's conference, Mr. Adam Wyll, Senior Vice President and General Counsel. Sir, please go ahead.
Good morning. I'd like to thank everyone for joining us today for American Assets Trust 2018 fourth quarter and year-end earnings conference call. Joining me on the call are Ernest Rady and Bob Barton. These and other members of our management team are available to take your questions at the conclusion of our prepared remarks. Our 2018 fourth quarter and year-end supplemental disclosure package provides a significant amount of valuable information with respect to the company's operating and financial performance. The document is currently available on our website.
Certain matters discussed on this call may be deemed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include any annualized or projected information, as well as statements referring to expected or anticipated events or results. Although, we believe the expectations reflected in such forward-looking statements are based on reasonable assumptions, our future operations and our actual performance may differ materially from the information contained in our forward-looking statements. And we can give no assurance that these expectations will be attained. Risks inherent in these assumptions include, but are not limited to, future economic conditions, including interest rates, real estate conditions and the risks and cost of constructions. Earnings release and supplemental reporting package that we issued yesterday in our Annual Report filed on Form 10-K, and our other financial disclosure documents provide a more in-depth discussion of risk factors that may affect our financial conditions and results of operations.
Additionally, this call will contain non-GAAP financial information, including funds from operations, or FFO; earnings before interest, taxes, depreciation and amortization, or EBITDA; and net operating income, or NOI. American Assets is providing this information as a supplement to information prepared in accordance with Generally Accepted Accounting Principles; explanations of such non-GAAP items and reconciliations to net income are contained in the company's supplemental operating and financial data for the fourth quarter and year-end 2018 furnished to the Securities and Exchange Commission and this information is available on our website at www.americanassetstrust.com.
I'll now turn the call over to our Chairman, President and CEO, Ernest Rady, to begin our discussion of fourth quarter and year-end results. Ernest?
Thanks Adam, and that was really eloquent, and good morning everyone. Thank you for joining American Assets Trust fourth quarter and year-end 2018 earnings call. We continue to make great progress on all fronts as we continue to focus our efforts on earnings growth combined with growth in that asset value for our shareholders.
At American Assets Trust, our strategy is focused on these seven things. One, coastal West Coast markets from San Diego to