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American Assets Trust AAT Office — Property revenue

Other segment segments

Retail
$23.34M-5.3%
Multifamily
$18.2M+8.1%
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
Total Office
Property revenue$52,357$50,881
Rental expenses11,74710,874
Real estate taxes5,2724,826
Property expense17,01915,700
Segment profit35,33835,181
Total Retail
Property revenue23,34424,648

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is American Assets Trust's office — property revenue?
American Assets Trust (AAT) reported office — property revenue of $52.36M in Q1 2026.
How has American Assets Trust's office — property revenue changed year-over-year?
American Assets Trust's office — property revenue increased by 2.9% year-over-year, from $50.88M to $52.36M.
What is the long-term trend for American Assets Trust's office — property revenue?
Over 4 years (2021 to 2025), American Assets Trust's office — property revenue has grown at a 2.5% compound annual growth rate (CAGR), from $186.37M to $206.04M.
What does office — property revenue mean?
This metric captures the total gross revenue generated by the office segment, including base rents, recoveries, and other property-related income. It reflects the overall top-line performance of the office assets before accounting for operating costs. It is a key indicator of the scale and market demand for the company's office space.

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