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American Assets Trust AAT Multifamily — Property revenue

Other segment segments

Office
$52.36M+2.9%
Retail
$23.34M-5.3%
Mixed-use
$16.7M+2.8%

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Other financials

Income statement

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Revenue$109.5M+1.4%
Gross profit$66.9M-0.6%
Operating income$26.3M+1.2%
Net income$5.2M-5.2%
EPS (diluted)$0.090.0%

Balance sheet

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Cash & equivalents$109.7M-23.7%
Total debt$1.7B+8,723%
Total equity$1.1B-5.2%
Total assets$2.9B-2.1%

Cash flow

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Operating cash flow$38.6M+4.7%
CapEx$20.4M+24.3%
Free cash flow$18.2M-11.1%

Valuation

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Market cap$1.38B+18.2%
P/E70.7×+54.8×
P/S3.1×+0.6×

Profitability

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Gross margin60.8%-2.4pp
Operating margin22.8%-13.9pp
Net margin4.5%-11.8pp
FCF margin21.1%-3.8pp

Returns & leverage

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Return on equity1.7%-4.5pp
Debt / equity1.5×+1.5×

Where this comes from

Reported directly by American Assets Trust in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax.

The source filing: American Assets Trust’s 10-Q, filed May 1, 2026.

Filed
May 1, 2026, 2:31 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001500217-26-000032
Line itemThree Months Ended March 31, 2026Three Months Ended March 31, 2025
Property expense7,0017,415
Segment profit16,34317,233
Total Multifamily
Property revenue18,19616,831
Rental expenses5,9465,349
Real estate taxes2,2221,908
Property expense8,1687,257
Segment profit10,0289,574

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is American Assets Trust's multifamily — property revenue?
American Assets Trust (AAT) reported multifamily — property revenue of $18.2M in Q1 2026.
How has American Assets Trust's multifamily — property revenue changed year-over-year?
American Assets Trust's multifamily — property revenue increased by 8.1% year-over-year, from $16.83M to $18.2M.
What is the long-term trend for American Assets Trust's multifamily — property revenue?
Over 4 years (2021 to 2025), American Assets Trust's multifamily — property revenue has grown at a 7.2% compound annual growth rate (CAGR), from $52.32M to $68.96M.
What does multifamily — property revenue mean?
This represents the total gross revenue generated by the multifamily segment, including base rents, utility reimbursements, and other property-related income streams. It provides a comprehensive view of the top-line performance for the residential business unit.

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