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American Assets Trust AAT Office — Real estate taxes

Other segment segments

Retail
$3.39M+4.9%
Multifamily
$2.22M+16.5%
Mixed-use
$1.07M+2.2%

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$21.83M-0.1%
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$3.61M+10.3%
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SPGReal Estate — Real Estate Tax Expense
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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:RealEstateTaxExpense.

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 — real estate taxes?
American Assets Trust (AAT) reported office — real estate taxes of $5.27M in Q1 2026.
How has American Assets Trust's office — real estate taxes changed year-over-year?
American Assets Trust's office — real estate taxes increased by 9.2% year-over-year, from $4.83M to $5.27M.
What is the long-term trend for American Assets Trust's office — real estate taxes?
Over 3 years (2022 to 2025), American Assets Trust's office — real estate taxes has grown at a 0.3% compound annual growth rate (CAGR), from $20.49M to $20.68M.
What does office — real estate taxes mean?
This represents the property-level tax obligations incurred by the office segment based on local tax assessments. As a significant non-discretionary expense, it directly impacts the net operating income of the properties. Changes in this metric often reflect shifts in local tax rates or property valuations.

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