American Assets Trust, Inc. logo

American Assets Trust, Inc.

AAT

NYSEReal EstateREIT - Diversified

Previous close

$22.83

$0.00 · 0.00%

Aug 21, 4:00 PM ET

AAT company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Buy

Favorable setup — positive multi-factor alignment

Valuation

78

Undervalued

Momentum

56

Neutral

Sentiment

56

Mixed

Risk resilience

77

Moderate Risk

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Company profile

Company website

American Assets Trust, Inc. (AAT) operates as a fully integrated and internally managed real estate investment trust (REIT), headquartered in San Diego, California. The company boasts an extensive history spanning more than 50 years, specializing in the acquisition, improvement, development, and active management of premium office, retail, and residential properties. AAT strategically targets dynamic, high-barrier-to-entry markets throughout the United States, with a particular concentration in Southern and Northern California, Oregon, Washington, Texas, and Hawaii. Its substantial portfolio features approximately 3.4 million rentable square feet dedicated to office properties and about 3.1 million square feet in its retail holdings. Furthermore, AAT owns a notable mixed-use asset comprising roughly 97,000 rentable square feet of retail space alongside a 369-room all-suite hotel, in addition to 2,112 multifamily residential units. Established in 2011 as the successor to American Assets, Inc., a private entity founded in 1967, the company leverages this long-standing lineage to its advantage, possessing profound experience, robust relationships, and an unparalleled understanding of its primary markets, submarkets, and various asset classes.

Industry
REIT - Diversified
Sector
Real Estate
Headquarters
US
CEO
Adam Wyll
Listed since
Jan 13, 2011
Employees
232

Market position

Day range

Current $22.83

52-week range

Current $22.83

Open
$22.94
Previous close
$22.83
Volume
294.83K
0.74× average
Average volume
396K
Average daily volume
Market cap
1.4B USD
Beta
0.98
Market reference 1
50-day average
$24.1278
-5.38% below average
200-day average
$20.7699
+9.92% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
2.72B USD
P/E (TTM)
78.18×
P/B (TTM)
1.23×
P/S (TTM)
3.19×
EV / EBITDA
9.81×
Earnings yield
6.23%
Free cash flow yield
8.28%
Dividend yield
5.96%

Profitability & efficiency

Gross margin
60.61%
Operating margin
22.77%
Net margin
4.70%
Return on equity
6.20%
Return on assets
2.44%
Return on invested capital
5.13%

Financial health

Debt / equity
1.53×
Current ratio
2.04×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends71%49%26%4%Gross margin, FY2021: 65.47%Gross margin, FY2022: 63.93%Gross margin, FY2023: 62.84%Gross margin, FY2024: 63.37%Gross margin, FY2025: 61.12%Operating margin, FY2021: 26.57%Operating margin, FY2022: 27.15%Operating margin, FY2023: 27.60%Operating margin, FY2024: 28.22%Operating margin, FY2025: 33.45%Net margin, FY2021: 9.74%Net margin, FY2022: 13.22%Net margin, FY2023: 14.66%Net margin, FY2024: 15.90%Net margin, FY2025: 16.36%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 65.47%. Gross margin FY2022 63.93%. Gross margin FY2023 62.84%. Gross margin FY2024 63.37%. Gross margin FY2025 61.12%. Operating margin FY2021 26.57%. Operating margin FY2022 27.15%. Operating margin FY2023 27.60%. Operating margin FY2024 28.22%. Operating margin FY2025 33.45%. Net margin FY2021 9.74%. Net margin FY2022 13.22%. Net margin FY2023 14.66%. Net margin FY2024 15.90%. Net margin FY2025 16.36%.

Income trends

Revenue

436.2M USD-4.73%

Operating income

145.93M USD+12.95%

Net income

71.37M USD-1.99%
Income trends across reported periods499.98M USD331.48M USD162.97M USD−5.53M USDRevenue, FY2021: 375.83M USDRevenue, FY2022: 422.65M USDRevenue, FY2023: 441.16M USDRevenue, FY2024: 457.85M USDRevenue, FY2025: 436.2M USDOperating income, FY2021: 99.87M USDOperating income, FY2022: 114.73M USDOperating income, FY2023: 121.75M USDOperating income, FY2024: 129.2M USDOperating income, FY2025: 145.93M USDNet income, FY2021: 36.59M USDNet income, FY2022: 55.88M USDNet income, FY2023: 64.69M USDNet income, FY2024: 72.82M USDNet income, FY2025: 71.37M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 375.83M USD. Revenue FY2022 422.65M USD. Revenue FY2023 441.16M USD. Revenue FY2024 457.85M USD. Revenue FY2025 436.2M USD. Operating income FY2021 99.87M USD. Operating income FY2022 114.73M USD. Operating income FY2023 121.75M USD. Operating income FY2024 129.2M USD. Operating income FY2025 145.93M USD. Net income FY2021 36.59M USD. Net income FY2022 55.88M USD. Net income FY2023 64.69M USD. Net income FY2024 72.82M USD. Net income FY2025 71.37M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue436.2M USD457.85M USD441.16M USD422.65M USD375.83M USD
Cost of goods sold169.6M USD167.73M USD163.96M USD152.43M USD129.77M USD
Gross profit266.61M USD290.13M USD277.21M USD270.22M USD246.05M USD
Selling, general, and administrative37.84M USD35.47M USD35.96M USD32.14M USD29.88M USD
Operating expenses120.68M USD160.93M USD155.46M USD155.48M USD146.19M USD
Interest income4.33M USD9.03M USD2.18M USD225K USD324K USD
Interest expense78.12M USD74.53M USD64.71M USD58.23M USD58.59M USD
Depreciation and amortization127.31M USD125.46M USD119.5M USD123.34M USD116.31M USD
Operating income145.93M USD129.2M USD121.75M USD114.73M USD99.87M USD
Net income71.37M USD72.82M USD64.69M USD55.88M USD36.59M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
55%
6 beats, 5 misses, 0 met estimates
Average EPS surprise
-10.46%
11 comparable reports
Latest EPS result
0.09
Estimate 0.1 · Miss by 10.00%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.750.520.280.04Q1 '25BeatQ2 '25BeatQ3 '25MissQ4 '25MissQ1 '26MissQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 4, 2025: actual 0.15, estimate 0.14, surprise +7.14%, Beat. Q2 2025, reported Apr 29, 2025: actual 0.7, estimate 0.45, surprise +55.56%, Beat. Q3 2025, reported Jul 29, 2025: actual 0.09, estimate 0.49, surprise -81.63%, Miss. Q4 2025, reported Oct 28, 2025: actual 0.07, estimate 0.49, surprise -85.71%, Miss. Q1 2026, reported Feb 3, 2026: actual 0.052, estimate 0.48, surprise -89.17%, Miss. Q2 2026, reported Apr 28, 2026: actual 0.085, estimate 0.51, surprise -83.41%, Miss. Q3 2026, reported Jul 28, 2026: actual 0.09, estimate 0.1, surprise -10.00%, Miss. Q4 2026, reported Oct 27, 2026: actual —, estimate 0.1, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates118M112.39M106.78M101.17MQ1 '25BeatQ2 '25MissQ3 '25MissQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 4, 2025: actual 113.46M USD, estimate 110.54M USD, surprise +2.64%, Beat. Q2 2025, reported Apr 29, 2025: actual 108.61M USD, estimate 112.05M USD, surprise -3.07%, Miss. Q3 2025, reported Jul 29, 2025: actual 107.93M USD, estimate 108.23M USD, surprise -0.28%, Miss. Q4 2025, reported Oct 28, 2025: actual 109.58M USD, estimate 105.71M USD, surprise +3.66%, Beat. Q1 2026, reported Feb 3, 2026: actual 110.09M USD, estimate 108.7M USD, surprise +1.28%, Beat. Q2 2026, reported Apr 28, 2026: actual 110.59M USD, estimate 109.78M USD, surprise +0.74%, Beat. Q3 2026, reported Jul 28, 2026: actual 109.48M USD, estimate 110.64M USD, surprise -1.05%, Miss. Q4 2026, reported Oct 27, 2026: actual —, estimate 112.05M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Rating distribution

11 ratings
Strong buy00%
Buy436%
Hold436%
Sell327%
Strong sell00%

AAT peers

ETFs holding AAT

Funds reporting this stock among their holdings, ordered by reported position size.

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