American Assets Trust, Inc. AAT

21.58 0.09 0.42% as of 25 Sep
Market cap
$1.3B
P/E
74.4×
Growth Flags show if company had growth for consecutive years,
Insider Buys alert about insiders buying in the last 12 month

Insider Decisions

Total buys 37.67
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — 4 — — 5 3 — 8 1
Sell — — — — — — — — — — — —
Insider Ownership 24.35%

Capital & Financial Ratios

Market Cap 1,320.00
Revenue 439.74
Net Income 23.67
Free Cash Flow 88.65
Net Debt 1,588.76
Current Ratio 2.46
Debt/Equity 1.61
P/E ratio 74.41
P/S ratio 2.98
P/B ratio 1.24
Past 5Y EPS Growth 2.19%
This Y EPS Growth (57.61%)
Next Y EPS Growth (5.13%)
Next 5Y EPS Growth (23.00%)
in millions of $

Dividends

Payout Ratio 1.55
Annual Dividend Rate 1.32
Annual Dividend Yield 6.57%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.36
0.34
0.34
0.34
2025 1.36
0.34
0.34
0.34
0.34
2024 1.34
0.34
0.34
0.34
0.34
2023 1.32
0.33
0.33
0.33
0.33
2022 1.28
0.32
0.32
0.32
0.32
2021 1.16
0.28
0.28
0.30
0.30
2020 1.00
0.30
0.20
0.25
0.25
2019 1.14
0.28
0.28
0.28
0.30
2018 1.09
0.27
0.27
0.27
0.28
2017 1.05
0.26
0.26
0.26
0.27
2016 1.01
0.25
0.25
0.25
0.26
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 83 426 129 110
Receivables 94 95 92 90
Inventory — — — —
Other — — — —
177 521 221 200
2023 2024 2025 Q'26
Payables 61 64 71 81
ST’ Debt — — — —
Other — — — —
61 64 71 81
in millions of $

Compound Annual Growth

10y 5y 3y
Sales 4.70% 4.83% 1.06%
Cash Flow 4.23% 5.65% (2.28%)
Earnings 3.75% 15.01% 8.55%
Book Value 2.79% (2.73%) (2.73%)

Revenue

Mar Jun Sep Dec Year
’26 111 109 — — —
’25 109 108 110 110 436
’24 111 111 123 113 458
’23 108 110 111 112 441
’22 101 104 111 106 423
’21 84 92 98 102 376
’20 97 82 84 81 345
in millions of $ · fiscal quarters ending in the months shown

Operating Cash Flow

Mar Jun Sep Dec Year
’26 39 49 — — —
’25 37 49 41 41 167
’24 55 59 52 41 207
’23 52 46 52 39 189
’22 39 47 55 38 179
’21 43 34 53 39 168
’20 45 24 40 18 127
in millions of $ · fiscal quarters ending in the months shown

Free Cash Flow

Mar Jun Sep Dec Year
’26 18 24 — — —
’25 138 28 23 23 213
’24 44 44 28 21 137
’23 27 26 32 20 106
’22 9 14 30 13 65
’21 31 10 32 (9) 64
’20 25 9 27 3 63
in millions of $ · fiscal quarters ending in the months shown

EPS

Mar Jun Sep Dec Year
’26 0.08 0.09 — — —
’25 0.70 0.09 0.07 0.05 0.92
’24 0.32 0.20 0.22 0.15 0.94
’23 0.27 0.20 0.20 0.17 0.84
’22 0.18 0.18 0.21 0.16 0.72
’21 0.02 0.15 0.17 0.14 0.47
’20 0.20 0.13 0.08 0.05 0.46
fiscal quarters ending in the months shown

Target Price Range

Analyst price targets

Recommendation Rating

3.7
1Buy 2 3Hold 4 5Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
34.07 36.79 30.62 38.94 20.15 27.21 24.01 16.04 20.03 16.69

Analyst estimates 2026–2028

Powerpack
Low Price
46.38 44.83 42.85 49.26 48.15 40.83 39.20 29.73 29.15 26.40
High Price
164 194 189 206 189 208 216 228 226 232
Employees
2 2 2 2 2 2 2 2 2 2
Revenue/Emp
295 315 331 367 345 376 423 441 458 436
Revenue
73.04% 73.33% 73.86% 74.92% 77.02% 76.86% 74.53% 73.07% 73.03% 71.44%
Gross Margin
46 40 27 60 36 37 56 65 73 71
EBT
15.47% 12.74% 8.22% 16.41% 10.33% 9.74% 13.22% 14.66% 15.90% 16.36%
EBT Margin
46 40 27 60 36 37 56 65 73 71
Net Income
76 86 109 98 110 119 126 123 129 130
Depreciation
6.51 6.74 7.05 6.78 5.76 6.26 7.04 7.33 7.59 7.20
Revenue/Sh
0.72 0.62 0.42 0.84 0.46 0.47 0.72 0.84 0.94 0.92
Earnings/Sh
2.66 3.12 2.91 2.84 2.12 2.81 2.98 3.14 3.43 2.76
Cash Flow/Sh
(1.32) (1.02) (1.16) (1.48) (1.06) (1.74) (1.89) (1.38) (1.16) 0.75
Capex/Sh
1.35 2.11 1.75 1.36 1.06 1.06 1.09 1.76 2.27 3.51
Free CF/Sh
18.50 18.07 17.09 23.91 20.96 20.17 19.74 19.18 18.64 18.02
Book Value/Sh
45 47 47 54 60 60 60 60 60 61
Shares
59.78 61.55 96.73 53.37 62.78 78.19 36.32 27.31 27.64 20.80
PE Ratio
6.61 5.66 5.70 6.77 5.01 5.99 3.77 3.13 3.46 2.63
PS Ratio
2.33 2.11 2.35 1.92 1.38 1.86 1.34 1.20 1.41 1.05
PB Ratio
10.04 9.60 9.46 10.20 8.71 10.03 7.57 6.79 6.94 6.22
EV/Sales
48.55 30.73 38.11 50.76 47.27 59.13 49.00 28.32 23.21 12.77
EV/FCF
121 146 137 154 127 168 179 189 207 167
Op' Cash Flow
(60) (47) (54) (80) (63) (105) (114) (83) (70) 46
Capex
61 98 82 74 63 64 65 106 137 213
FCF
70 103 60 111 159 165 79 116 457 150
Working Cap'
1,068 1,332 1,300 1,366 1,413 1,657 1,657 1,698 2,019 1,698
Total Debt
1,013 1,240 1,242 1,257 1,274 1,518 1,607 1,616 1,594 1,568
Net Debt
839 844 802 1,294 1,253 1,210 1,186 1,154 1,124 1,091
Sh' Equity
1.65% 1.37% 0.88% 1.83% 0.99% 0.97% 1.45% 1.69% 1.82% 1.80%
ROA
3.31% 2.81% 2.43% 2.79% 2.19% 2.29% 2.57% 2.75% 2.97% 3.43%
ROIC
3.91% 3.46% 2.39% 4.36% 2.17% 2.30% 3.63% 4.31% 4.99% 5.02%
ROE
predictions in italic, sparklines do not include predictions

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

American Assets Trust, Inc. peers in Reit Diversified

All 16 Reit Diversified stocks →

American Assets Trust, Inc. (AAT) key facts

  • American Assets Trust, Inc. (AAT) is a Reit Diversified company in the Real Estate sector, listed on the New York Stock Exchange.
  • American Assets Trust, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $436.2 million, down 4.73% from fiscal 2024.
  • As of September 25, 2026, AAT traded at $21.58, a market capitalization of $1.3 billion.
  • American Assets Trust, Inc. pays an annual dividend of $1.32 per share, a yield of 6.57%, with a payout ratio of 154.8%.
  • Return on equity was 5.02% and debt-to-equity 1.61.

Source: company filings (standardised) and stockrow calculations.

American Assets Trust, Inc. (AAT) Latest News

News by impact score

Fine-tune

26 Sep

3

Founder Ernest S. Rady bought 50,000 American Assets Trust shares on Sept. 14 at $21.65, lifting his stake to about 24%. Short-term share performance has been weak: -5.1% in the last month and -14.3% in 90 days, though the year-to-date gain is about 14.9% and 1-year total return around 13.5%, implying longer-run momentum remains supportive. The move aligns with a view that the stock is undervalued, with a reported fair value of $23.50 versus a close near $21.58. American Assets Trust owns a sizable office, retail, mixed-use and multifamily portfolio, and plans to monetize embedded rent escalations and bring below-market leases to market, potentially boosting revenue growth and stabilizing occupancy from new developments. Valuation remains stretched (P/E 73.8x vs peers 66.7x and fair 45.9x), signaling risk if margins or rent spreads disappoint. The piece also promotes other dividend opportunities and underscores the stock's long-term focus. Insider buying signals confidence and could improve sentiment, but no new strategic moves or earnings catalysts are announced.

25 Sep

3

Ernest S. Rady, founder and Executive Chairman of American Assets Trust (NYSE: AAT), purchased 50,000 shares of common stock at $21.65 on Sept. 14, 2026, per an SEC Form 4. Indirect holdings rise to about 14.4 million shares; direct holdings total 66,680. Transaction value about $1.1 million; post-transaction value about $312.45 million. The purchase price nearly equals the Sept. 14 close of $21.64 and the stock traded around $21.79 on Sept. 16. Rady’s indirect stake is held through several entities, including American Assets, Inc.; the Ernest Rady Trust; the Insurance Company of the West; the Rady Foundation; Explorer Insurance; Evelyn Shirley Rady Trust; and an Ernest Rady IRA. Insider activity signals confidence in AAT’s premium office, retail, and residential properties in high-barrier markets, though the move alone isn’t a definitive forecast for performance. Insider buying by the founder signals confidence and could buoy sentiment, but impact remains moderate given scope and context.

3 Sep

3

American Assets Trust founder Ernest Rady bought $3.7 million in company shares. Founder purchase of $3.7 million shares signals notable insider confidence with moderate potential to influence short-term market sentiment.

29 Jul

3 transcript

American Assets Trust reported Q2 earnings with updates on revenue, occupancy, leasing activity and forward guidance during its earnings call. Quarterly earnings and guidance directly shape near-term investor views on AAT financial trajectory.

28 Jul

3

American Assets Trust, Inc. reported its second quarter 2026 financial results. Quarterly earnings updates supply performance metrics that shape near-term valuation and sentiment without indicating major strategic shifts.

30 Apr

4

American Assets Trust Inc. (AAT) Q1 2026 earnings call highlights strong leasing activity driving positive performance. Strong leasing activity signals significant revenue growth and improved occupancy for AAT's REIT operations.

29 Apr

4

American Assets Trust (AAT)'s evolving valuation story is reshaping investor expectations for its future performance and market positioning. Evolving valuation dynamics for AAT signal significant shifts in investor sentiment and potential trajectory alterations.

4 transcript

American Assets Trust, Inc. (AAT) released Q1 2026 earnings call transcript detailing quarterly financial results, operational updates, and management outlook. Q1 2026 earnings transcript discloses financial performance and guidance that could significantly sway AAT's stock trajectory and investor confidence.

3

American Assets Trust, Inc. (AAT) Q1 earnings call highlights recent financial results, operational updates, and forward guidance. Q1 earnings call highlights detail financial performance and outlook with moderate influence on investor sentiment and stock trajectory.

3

American Assets Trust, Inc. released Q1 2026 earnings call summary highlighting quarterly financial performance, operational updates, and future outlook for its real estate portfolio. Quarterly earnings summaries influence financial performance and investor sentiment but are balanced by ongoing market factors.

28 Apr

3

American Assets Trust, Inc. (AAT) reported Q1 earnings, analyzing key metrics for performance insights. Q1 earnings reports moderately influence AAT's financial performance and investor sentiment without fundamentally altering long-term trajectory.

3

American Assets Trust (AAT) posted Q1 FFO per share of 52 cents, aligning with analyst estimates. Revenue climbed 5% to $47.5 million year-over-year. Same-store cash NOI rose 4.2%, driven by office and retail properties. Full-year FFO guidance narrowed to $2.15-$2.25 per share. Quarterly earnings met expectations with modest growth in revenue and NOI, providing moderate influence on financial performance and investor sentiment.

3

American Assets Trust, Inc. reported first quarter 2026 financial results. Quarterly earnings reports influence short-term financial performance and investor sentiment.

1 Apr

4

American Assets Trust, Inc. (AAT) increased its revolving line of credit to $500 million and extended the maturity date through its Fourth Amended and Restated Credit Agreement. Expanding the credit line to $500 million enhances AAT's liquidity, financial flexibility, and ability to fund operations and growth, positively influencing market performance.

8 Feb

3

American Assets Trust, Inc. (AAT) reported mixed earnings for 2025, indicating challenges in its financial performance while maintaining a steady dividend. The company's resilience is being questioned as it navigates a fluctuating market environment, prompting investors to reassess its long-term viability and growth potential. Mixed earnings and steady dividends suggest moderate influence on AAT's financial performance and market sentiment.

4 Feb

4 transcript

American Assets Trust, Inc. reported its Q4 earnings, highlighting key financial metrics and strategic initiatives. The company emphasized growth in its portfolio and ongoing efforts to enhance operational efficiency. Management discussed market conditions and future outlook, indicating a positive trajectory despite challenges. Investors were informed about upcoming projects and potential impacts on revenue streams. Significant strategic initiatives and positive financial metrics are likely to influence future performance and investor sentiment.

4 transcript

American Assets Trust, Inc. (AAT) reported strong leasing activity in its Q4 2025 earnings call, highlighting positive trends in occupancy rates and tenant demand. The company emphasized its strategic initiatives aimed at enhancing portfolio performance and addressing market challenges. Management expressed optimism about future growth prospects, driven by ongoing investments and a robust pipeline of leasing opportunities. Strong leasing activity and strategic initiatives are likely to significantly impact future performance and investor sentiment.

3 Feb

4

American Assets Trust, Inc. reported its Q4 earnings, highlighting key financial metrics and performance indicators. The company showed growth in revenue and net income compared to the previous quarter, driven by increased leasing activity and improved occupancy rates across its properties. Management provided insights into future strategies and market conditions, indicating a positive outlook for the upcoming year. Investors reacted favorably to the earnings report, reflecting confidence in the company's operational direction. The earnings report indicates significant growth and strategic insights that could alter investor sentiment and the company's trajectory.

4

American Assets Trust, Inc. reported its financial results for the fourth quarter and year-end 2025, highlighting key metrics such as revenue, net income, and operational performance. The company demonstrated growth in its portfolio and strategic initiatives aimed at enhancing shareholder value. Management provided insights into future expectations and market conditions affecting the real estate sector, emphasizing ongoing investments and developments. The financial results indicate significant growth and strategic initiatives that could alter the company's trajectory and investor sentiment.

3

American Assets Trust, Inc. (AAT) reported its fourth-quarter funds from operations (FFO), which fell short of analysts' estimates. The company's performance was impacted by various factors, leading to a decline in its stock price following the announcement. Investors are concerned about the implications for future growth and profitability as AAT navigates a challenging market environment. The missed FFO estimates may affect investor sentiment and financial performance, but the overall impact is expected to be limited.

22 Jan

3

Options trading activity for American Assets Trust, Inc. (AAT) indicates a potential spike in stock price, with a notable increase in call options suggesting bullish sentiment among investors. Analysts are observing this trend closely, as it may reflect expectations of positive developments or market movements affecting the company. The heightened interest in options could signal a shift in investor confidence and market dynamics surrounding AAT. Increased options activity suggests a moderate influence on investor sentiment and potential stock performance.

29 Dec

3

American Assets Trust, Inc. (AAT) has experienced an 11% decline in stock value over the past five years, reflecting challenges in its market performance and investor sentiment. The company's struggles may be attributed to broader economic factors and competition within the real estate sector, impacting its overall growth trajectory. The decline in stock value indicates a moderately noticeable influence on the company's financial performance and market positioning.

23 Dec

4

American Assets Trust, Inc. (AAT) is currently perceived as undervalued by investors, with analysts suggesting that the company's fundamentals do not align with its market price. Factors contributing to this sentiment include strong financial performance, strategic asset management, and potential growth opportunities in the real estate sector. The company’s recent developments and market positioning indicate a favorable outlook, prompting discussions about its true value in the market. Strong financial performance and strategic asset management indicate significant potential for future growth and investor sentiment.

11 Dec

4

American Assets Trust, Inc. (AAT) has been upgraded to a 'Buy' rating by analysts, reflecting positive sentiment regarding the company's future performance and market position. This upgrade is based on recent financial results and strategic initiatives that suggest potential for growth. Investors are encouraged to consider this change as it may influence stock performance moving forward. The upgrade to a 'Buy' rating indicates significant positive sentiment that could impact investor confidence and stock performance.

9 Dec

3

American Assets Trust, Inc. (AAT) has seen a 33% decline in its stock price, prompting a fund to invest $4.4 million in the company. Analysts are debating whether this drop presents a buying opportunity, considering the potential for recovery and the company's underlying fundamentals. The investment reflects confidence in AAT's long-term prospects despite recent market challenges. The significant stock price drop may influence investor sentiment and financial performance, but the overall effect is expected to be somewhat limited.

5 Dec

3

American Assets Trust, Inc. (AAT) is currently being evaluated for potential undervaluation in the stock market. Analysts are examining various financial metrics and market conditions to determine if the stock presents a buying opportunity. Factors such as recent performance, market trends, and company fundamentals are being considered in this assessment. Investors are advised to weigh these insights against their own investment strategies. Current evaluations suggest a moderately noticeable influence on AAT's financial performance and market sentiment.

18 Nov

3

American Assets Trust, Inc. (AAT) has experienced a decline in share price, prompting an assessment of its valuation. Analysts are evaluating the company's financial health and market position in light of recent market trends and economic conditions. The decline raises questions about AAT's future performance and potential recovery strategies. The share price decline indicates potential challenges that may moderately influence AAT's financial performance and market positioning.

3

American Assets Trust, Inc. (AAT) is being evaluated for its potential as a value investment. Analysts are considering its financial performance, market position, and growth prospects. The company's recent developments and market conditions are influencing investor sentiment, leading to discussions about whether it represents a good buying opportunity for value investors. Current market conditions and company performance suggest a moderate influence on AAT's future trajectory.

30 Oct

4 transcript

American Assets Trust, Inc. (AAT) reported strong performance in its Q3 2025 earnings call, highlighting robust funds from operations (FFO) and positive financial metrics. The company emphasized its strategic initiatives and operational efficiencies that contributed to its growth. Management expressed optimism about future prospects and ongoing projects, indicating a solid outlook for the remainder of the fiscal year. Strong FFO performance and strategic initiatives are likely to significantly impact future financial performance and investor sentiment.

4

American Assets Trust, Inc. (AAT) has been upgraded to a 'Buy' rating by analysts, reflecting positive sentiment about the company's growth potential and market position. Factors contributing to this upgrade include strong financial performance, strategic asset management, and favorable market conditions. Investors are encouraged to consider AAT as a promising investment opportunity in the current real estate landscape. The upgrade to 'Buy' indicates significant positive sentiment that could influence investor behavior and market performance.

stockrow.com/AAT · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com