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American Assets Trust AAT Retail — Real estate taxes

Other segment segments

Office
$5.27M+9.2%
Multifamily
$2.22M+16.5%
Mixed-use
$1.07M+2.2%

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CSRMultifamily — Real estate taxes
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BFSShopping Centers — Real estate taxes
$5.2M+9.7%
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UEReportable Segment — Real estate taxes
$17.07M+1.3%
Equity Lifestyle Properties logo
ELSProperty Operations — Real estate taxes
$21.83M-0.1%
BFS
BFSMixed-Use Properties — Real estate taxes
$3.61M+10.3%
Howard Hughes logo
HHHMPC Segment — Rental property real estate taxes
$0—

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 Retail
Property revenue23,34424,648
Rental expenses3,6144,186
Real estate taxes3,3873,229
Property expense7,0017,415
Segment profit16,34317,233
Total Multifamily
Property revenue18,19616,831

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is American Assets Trust's retail — real estate taxes?
American Assets Trust (AAT) reported retail — real estate taxes of $3.39M in Q1 2026.
How has American Assets Trust's retail — real estate taxes changed year-over-year?
American Assets Trust's retail — real estate taxes increased by 4.9% year-over-year, from $3.23M to $3.39M.
What is the long-term trend for American Assets Trust's retail — real estate taxes?
Over 3 years (2022 to 2025), American Assets Trust's retail — real estate taxes has grown at a -4.4% compound annual growth rate (CAGR), from $13.68M to $11.96M.
What does retail — real estate taxes mean?
The total property tax obligations incurred for the retail real estate portfolio. This represents a significant non-discretionary operating expense that impacts the net operating income of the segment.

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