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American Assets Trust AAT Office — Net real estate

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$154.93M-3.4%

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Other financials

Income statement

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Revenue$110.6M+1.8%
Gross profit$66.9M-0.6%
Operating income$25.8M-64.1%
Net income$6.7M-84.2%
EPS (diluted)$0.08-88.6%

Balance sheet

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Cash & equivalents$118.3M-17.8%
Total debt$18.0M-9.6%
Total equity$1.1B-5.2%
Total assets$2.9B-2.3%

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$1.5B+21.0%
Enterprise value$1.4B+25.4%
P/E75.4×+59.9×
P/S3.4×+0.7×

Profitability

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Gross margin60.8%-2.4pp
Operating margin22.8%-14.7pp
Net margin4.5%-13.0pp
FCF margin21.1%-3.8pp

Returns & leverage

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Return on equity1.7%-5.0pp
Debt / equity0.0×

Where this comes from

Reported directly by American Assets Trust in its filing.

Tagged under the XBRL concept us-gaap:RealEstateInvestmentPropertyNet.

The official record: American Assets Trust’s 10-Q, filed May 1, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is American Assets Trust's office — net real estate?
American Assets Trust (AAT) reported office — net real estate of $1.59B in Q1 2026.
How has American Assets Trust's office — net real estate changed year-over-year?
American Assets Trust's office — net real estate decreased by 0.4% year-over-year, from $1.59B to $1.59B.
What is the long-term trend for American Assets Trust's office — net real estate?
Over 4 years (2021 to 2025), American Assets Trust's office — net real estate has grown at a 2.8% compound annual growth rate (CAGR), from $5.71B to $6.36B.
What does office — net real estate mean?
This represents the book value of the office segment's real estate assets, net of accumulated depreciation. It reflects the capital investment base currently deployed in the office sector. This figure is essential for calculating return on assets and assessing the scale of the company's office holdings.