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American Assets Trust AAT Retail — Rental expenses

Other segment segments

Office
$11.75M+8.0%
Mixed-use
$10.41M+5.3%
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$5.95M+11.2%

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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:CostOfOtherPropertyOperatingExpense.

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
Segment profit35,33835,181
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

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is American Assets Trust's retail — rental expenses?
American Assets Trust (AAT) reported retail — rental expenses of $3.61M in Q1 2026.
How has American Assets Trust's retail — rental expenses changed year-over-year?
American Assets Trust's retail — rental expenses decreased by 13.7% year-over-year, from $4.19M to $3.61M.
What is the long-term trend for American Assets Trust's retail — rental expenses?
Over 3 years (2022 to 2025), American Assets Trust's retail — rental expenses has grown at a -3.8% compound annual growth rate (CAGR), from $16.63M to $14.82M.
What does retail — rental expenses mean?
Direct costs associated with the operation and maintenance of retail properties, excluding taxes. Monitoring these expenses is essential for evaluating the operational efficiency and cost management of the retail segment.

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