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American Assets Trust AAT Office — Operating Income (Loss)

Other segment segments

Retail
$16.34M-5.2%
Multifamily
$10.03M+4.7%
Mixed-use
$5.22M-1.8%

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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:OperatingIncomeLoss.

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
Rental expenses11,74710,874
Real estate taxes5,2724,826
Property expense17,01915,700
Segment profit35,33835,181
Total Retail
Property revenue23,34424,648
Rental expenses3,6144,186
Real estate taxes3,3873,229

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is American Assets Trust's office — operating income (loss)?
American Assets Trust (AAT) reported office — operating income (loss) of $35.34M in Q1 2026.
How has American Assets Trust's office — operating income (loss) changed year-over-year?
American Assets Trust's office — operating income (loss) increased by 0.4% year-over-year, from $35.18M to $35.34M.
What is the long-term trend for American Assets Trust's office — operating income (loss)?
Over 4 years (2021 to 2025), American Assets Trust's office — operating income (loss) has grown at a 0.5% compound annual growth rate (CAGR), from $136.13M to $139.14M.
What does office — operating income (loss) mean?
This metric represents the profitability of the office segment after deducting all property-level operating expenses from total property revenue. It is a critical measure of the segment's ability to generate cash flow from its core operations. A positive and growing operating income indicates a healthy and efficient office portfolio.

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