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American Assets Trust AAT Multifamily — Rental expenses

Other segment segments

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$11.75M+8.0%
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$10.41M+5.3%
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$3.61M-13.7%

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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:CostOfOtherPropertyOperatingExpense.

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
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
Total Mixed-Use

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is American Assets Trust's multifamily — rental expenses?
American Assets Trust (AAT) reported multifamily — rental expenses of $5.95M in Q1 2026.
How has American Assets Trust's multifamily — rental expenses changed year-over-year?
American Assets Trust's multifamily — rental expenses increased by 11.2% year-over-year, from $5.35M to $5.95M.
What is the long-term trend for American Assets Trust's multifamily — rental expenses?
Over 3 years (2022 to 2025), American Assets Trust's multifamily — rental expenses has grown at a 7.5% compound annual growth rate (CAGR), from $19.15M to $23.81M.
What does multifamily — rental expenses mean?
This metric captures the direct operating costs associated with managing and maintaining multifamily rental properties, such as onsite staffing, repairs, and maintenance. Monitoring these expenses is critical for evaluating the operational efficiency of the residential segment.

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