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American Assets Trust

AAT

American Assets Trust, Inc. is a vertically integrated real estate investment trust (REIT) focused on the acquisition, development, and management of high-quality commercial and residential properties.

Market cap
$1.37B+18.9%
Revenue$444.4M+1.1%
Net income$26.7M-56.6%
Free cash flow$75.1M-19.5%
EPS (diluted)$0.35-65.4%
Trailing twelve months · change vs. prior year

Earnings

Next report

Date not yet announced

Financials

Q3 2026

Income statement

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Revenue$114.3M+4.3%
Operating income$29.4M+18.9%
Net income$10.0M+122%
EPS (diluted)$0.13+85.7%

Balance sheet

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Cash & equivalents$89.6M-35.4%
Total debt$16.6M-15.0%
Total equity$1.1B-5.0%
Total assets$2.9B-2.6%

Cash flow

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Operating cash flow$42.3M+4.5%
CapEx$32.8M+87.9%
Free cash flow$9.6M-58.5%

Valuation & ratios

Valuation

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Market cap$1.37B+18.9%
Enterprise value$1.3B+23.7%
P/E51.3×+32.3×
P/S3.1×+0.4×

Profitability

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Operating margin23.6%-11.2pp
Net margin6%-8.0pp
FCF margin16.9%-4.3pp

Returns & leverage

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Return on equity2.3%-2.9pp
Debt / equity0×0.0×

Segments

By segment

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Office$55.3M+5.7%
Retail$23.0M-0.8%
Mixed-use$18.1M+8.2%
Multifamily$17.9M+2.9%

Competitors

Profile

American Assets Trust, Inc. is a vertically integrated real estate investment trust (REIT) focused on the acquisition, development, and management of high-quality commercial and residential properties. The company specializes in high-barrier-to-entry coastal markets, leveraging a diversified portfolio of office, retail, and multifamily assets to drive long-term value.

Competitive position

A dominant player in West Coast high-barrier markets with a diversified asset base that mitigates sector-specific volatility.

GeographiesCalifornia, Washington, Oregon, Texas, Hawaii, United States
Customer segmentsCommercial Tenants, Residential Tenants, Hospitality Guests
Business modelLeasing, Property Development, Property Management
SuppliersConstruction contractors, Architectural firms, Municipal planning departments, Financial institutions for capital
CustomersCommercial enterprises, Retail brands, Residential tenants, Hotel guests
Listed2011
Employees228.0
CEOAdam Wyll
FilingsSEC EDGAR

FAQ

What is American Assets Trust's market cap?
American Assets Trust (AAT) has a market capitalization of $1.4B and trades on NYSE.
What is American Assets Trust's revenue and profitability?
American Assets Trust generated $444.4M in trailing twelve-month revenue with net income of $26.7M, representing a net margin of 6.0%. Gross margin stands at 60.6%, with free cash flow of $75.1M. The latest reported period is Q3 2026.
Who are American Assets Trust's competitors?
American Assets Trust's key competitors include Douglas Emmett, Inc., Kilroy Realty Corporation, Regency Centers Corporation, and others. These companies compete in similar markets and product categories.
What subsidiaries does American Assets Trust have?
American Assets Trust's subsidiaries include American Assets Trust, L.P..
Where is American Assets Trust headquartered?
American Assets Trust is headquartered in United States of America and employs approximately 228 people. It has been publicly traded since 2011.