American Assets Trust, Inc.

American Assets Trust, Inc.

AAT
American Assets Trust, Inc.US flagNew York Stock Exchange
24.41
USD
-0.06
- -
1.50BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
6.45
6.18
6.2
6.51
6.74
7.05
6.78
5.76
6.26
7.04
7.33
7.59
7.2
7.23
Basic EPS, GAAP
0.57
0.74
1.21
1.01
0.86
0.58
1.11
0.6
0.61
0.93
1.08
1.21
1.18
0.4
Free Cash Flow per Basic Share
2.35
2.51
2.49
2.66
3.12
2.91
2.84
2.12
2.81
2.98
3.14
3.43
2.76
2.79
Dividend per Share
1.25
1.29
1.34
1.41
1.45
1.5
1.49
1.28
1.48
1.64
1.69
1.71
1.74
1.74
Book Value per Share
-1.1
-1.42
-1.43
-1.7
-2.07
-2.73
-2.66
-2.94
-3.62
-4.17
-4.65
-5.03
-5.46
-5.71
Tangible Book Value per Share
16.54
17.66
18.24
18.23
17.86
16.88
23.27
20.47
19.64
19.31
18.84
18.38
17.83
17.53
Basic Weighted Avg Shares
40
42
44
45
47
47
54
60
60
60
60
60
61
61
Sales/Revenue/Turnover
255
260
276
295
315
331
367
345
376
423
441
458
436
438
Operating Margin (%)
31.8
32.18
34.16
33.19
29.73
24.04
31
25.71
26.57
27.15
27.6
28.22
23.26
22.77
Depreciation Expense
67
67
63
71
83
107
96
108
116
123
120
125
127
129
Net Income, GAAP
23
31
54
46
40
27
60
36
37
56
65
73
71
24
Effective Tax Rate (%)
2.78
1.46
0.54
1.23
0.53
1.19
1.34
- -
1.98
1.5
1.58
1.2
1.07
1.86
Profit Margin (%)
8.86
11.98
19.56
15.47
12.74
8.22
16.41
10.33
9.74
13.22
14.66
15.9
16.36
5.48
Working Capital
-75
15
-15
1
50
-64
76
30
136
14
153
497
113
102
LT Debt
952
1,063
1,026
1,042
1,325
1,228
1,363
1,338
1,677
1,640
1,713
2,031
1,706
1,706
Total Equity
687
767
829
839
844
802
1,294
1,253
1,210
1,186
1,154
1,124
1,091
1,073
Return on Invested Capital (%)
4.55
4.63
5.04
5.11
4.58
3.69
4.72
- -
3.52
3.94
4.19
4.24
3.37
3.47
Return on Capital (%)
7.5
7.13
8.32
8.24
7.34
5.94
8.39
- -
7.03
8.04
9.25
9.56
9.94
7.6
Return on Common Equity (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
- -
- -
LT Borrowings
1,687
1,688
1,688
LT Finance Leases
19
19
18
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
61
61
61
Market Capitalization
1,229
1,146
1,116

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
232
221
209
Cash, Cash Equivalents & STI
139
129
118
Accounts Receivable, Net
8
7
7
Inventories
- -
- -
- -
Total Current Liabilities
106
109
107
Payables & Accruals
79
81
79
ST Debt
- -
- -
- -
Deferred Revenue
27
28
28

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
4.13%
-2.73%
-2.95%
Free Cash Flow
5.37%
6.95%
-19.31%
Net Income, GAAP
10.26%
16.37%
-1.99%
Sales/Revenue/Turnover
4.86%
4.99%
-4.73%
Total Cash Common Dividend
6.06%
6.74%
1.82%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
111
111
123
113
458
2025
109
108
110
110
436
2026
111
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.41
0.25
0.35
0.19
1.21
2025
0.89
0.12
0.1
0.07
1.18
2026
0.11
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.43
0.43
0.43
0.43
1.71
2025
0.43
0.43
0.43
0.44
1.74
2026
0.43
- -
- -
- -
- -

Company Description

MCPAPIChat
CEO
Adam Wyll
Full Time Employees
230
Sector
Real Estate
Industry
REIT - Diversified
Address
3420 Carmel Mountain Road San Diego CA United States of America 92121
IPO Date
Jan 13, 2011
Business
American Assets Trust, Inc. is a full-service, vertically integrated, and self-administered real estate investment trust (REIT) headquartered in San Diego, California. Founded in 1967, the company owns, acquires, develops, and manages office, retail, multifamily, and mixed-use properties primarily in Southern California, Northern California, Washington, Oregon, Texas, and Hawaii. Its portfolio includes approximately 4.1 million rentable square feet of office space, 3.1 million rentable square feet of retail space, a mixed-use property featuring roughly 94,000 rentable square feet of retail space along with a 369-room all-suite hotel, and 2,110 multifamily residential units. American Assets Trust operates through four main business segments: retail, office, multifamily, and mixed-use properties, targeting high-barrier-to-entry markets in dynamic urban and suburban submarkets across the United States. The company’s core product offerings encompass leasing and management services for its diversified property portfolio, with strategic focus on enhancing asset value through redevelopment, re-tenanting, and operational efficiencies. Recent major company developments include the divestiture of Del Monte Center as part of a strategy to concentrate on markets with better operational efficiencies and the acquisition of a multifamily property aimed at capturing upside potential from below-market rents. In 2024, the company achieved record overall revenue and reported its highest funds from operations (FFO) per share since its IPO, reflecting strong leasing performance with retail properties reaching a 95% occupancy rate and office properties maintaining a healthy leasing pipeline despite limited large tenant activity. Additionally, American Assets Trust completed a $525 million offering of senior unsecured notes to refinance existing debt and support general corporate purposes, thereby improving liquidity and financial flexibility. The company also reported increased leasing activity in its retail and multifamily segments, contributing to growth in same-store net operating income and rental rates. American Assets Trust’s strategic emphasis is on maintaining a robust, high-quality portfolio in resilient growth markets with a balanced mix of property types, leveraging its over 55 years of experience in the real estate sector to create long-term value for shareholders. The company continues to focus on disciplined acquisitions, property developments, and lease renewals to drive growth and strengthen its market position across multiple regions in the United States. Its operational strategy includes active asset management, selective divestitures, and targeted investments in multifamily and mixed-use developments to optimize portfolio performance and capitalize on emerging market opportunities. American Assets Trust remains committed to sustainable growth and operational excellence within the REIT industry.

Company News

MCPAPIChat
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