American Assets Trust
Owns and operates office, retail, multifamily and mixed-use properties in coastal U.S. markets.
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Profile
Collects rent and tenant-service income from office, retail, multifamily and mixed-use properties across Southern California, Northern California, Washington, Oregon, Texas and Hawaii markets. In-house leasing, property management, development and redevelopment shape performance, while occupancy, renewal activity, financing costs, tourism demand and REIT qualification remain core dependencies.
Operates office real estate, retail real estate, multifamily real estate and mixed-use real estate segments, earning rent, tenant-service income and hotel operating revenue from properties across Southern California, Northern California, Washington, Oregon, Texas and Hawaii.
Runs as a vertically integrated, self-administered REIT with in-house leasing, property management, asset management, development, construction, acquisitions, repositioning, redevelopment and financing capabilities. Portfolio work centers on premier locations, occupancy, retenanting, renovation and redevelopment.
Business results depend on tenant demand and renewals, local office and retail leasing conditions, apartment occupancy, tourism demand at the mixed-use hotel, development execution, acquisition pricing, capital availability, interest rates, REIT qualification and property-level operating costs.
Company facts
Key statistics
Year to date +19.5% · Average volume (30d) 410.7K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Mar 26, 2026 | Morgan Stanley | Reiterate | Underweight | $17 | $18 |
| Jan 16, 2026 | Morgan Stanley | Target | $24 | $17 | |
| Jan 9, 2026 | Mizuho Securities | Target | $30 | $19 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 28, 2026Q2 FY26 | $0.10 | $0.09 | −10.0% | $110.6M | $109.5M | −1.0% | −1.62% |
| Apr 28, 2026Q1 FY26 | $0.51 | $0.51 | 0.0% | $109.8M | $110.6M | +0.7% | −5.19% |
| Feb 3, 2026Q4 FY25 | $0.48 | $0.47 | −2.1% | $108.7M | $110.1M | +1.3% | +3.87% |
| Oct 28, 2025Q3 FY25 | $0.49 | $0.49 | 0.0% | $106.9M | $109.6M | +2.5% | −5.77% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $108.6M | $107.9M | $109.6M | $110.1M | $110.6M | $109.5M | |
| Gross profit | $67.3M | $67.6M | $66.3M | $65.4M | $66.9M | $67.9M | |
| Operating income | $72.0M | $26.0M | $24.8M | $23.2M | $25.8M | $26.3M | |
| Net income | $54.1M | $7.1M | $5.9M | $4.2M | $5.1M | $5.4M | |
| Diluted EPS | $0.70 | $0.09 | $0.07 | $0.05 | $0.08 | $0.07 | |
| Gross margin | 62.0% | 62.6% | 60.5% | 59.4% | 60.5% | 62.0% | |
| Operating margin | 66.3% | 24.1% | 22.6% | 21.1% | 23.4% | 24.0% |
Fiscal years (4-quarter sums)FY21 $375.8M · FY22 $422.6M · FY23 $441.2M · FY24 $457.9M · FY25 $436.2M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $109.7M · Total debt $1.72B · Total assets $2.89B · Shareholders' equity $1.12B
Dividends
Raised for 5 straight years — most recently to $0.34 from $0.335 in Mar 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 4, 2026 | Jun 4 | Jun 18 | $0.34 | |
| Mar 5, 2026 | Mar 5 | Mar 19 | $0.34 | |
| Dec 4, 2025 | Dec 4 | Dec 18 | $0.34 | |
| Sep 4, 2025 | Sep 4 | Sep 18 | $0.34 | |
| Jun 5, 2025 | Jun 5 | Jun 19 | $0.34 | |
| Mar 6, 2025 | Mar 6 | Mar 20 | $0.34 | raised from $0.335 |
| Dec 5, 2024 | Dec 5 | Dec 19 | $0.335 | |
| Sep 5, 2024 | Sep 5 | Sep 19 | $0.335 |
Ownership
Institutions and insiders are filed separately and overlap, so together they can pass the whole company. No split is drawn from them.
Shares outstanding 61.40M · Float 48.16M · 78.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 9.16M | 14.92% | 13F | Aug 7, 2026 |
| Ernest S. Rady · director, 10 percent owner, officer: Executive Chairman | 9.15M | 14.90% | Form 4 | Aug 28, 2026 |
| American Assets Inc | 7.37M | 12.01% | 13F | Aug 5, 2026 |
| Vanguard Portfolio Management LLC | 5.47M | 8.91% | 13F | Aug 13, 2026 |
| State Street Corp | 2.80M | 4.56% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 28, 2026 | Ernest S. Rady | director, 10 percent owner, officer: Executive Chairman | +50,000 | $22.52 |
| Aug 27, 2026 | Ernest S. Rady | director, 10 percent owner, officer: Executive Chairman | +50,000 | $22.56 |
| Aug 26, 2026 | Ernest S. Rady | director, 10 percent owner, officer: Executive Chairman | +50,000 | $22.89 |
| Aug 24, 2026 | Ernest S. Rady | director, 10 percent owner, officer: Executive Chairman | +29,729 | $22.74 |
| Aug 21, 2026 | Ernest S. Rady | director, 10 percent owner, officer: Executive Chairman | +50,000 | $22.75 |
Peers
- Kilroy Realty
West Coast office and mixed-use landlord
- Hudson Pacific Properties
West Coast office and studio REIT
- Regency Centers
Grocery-anchored shopping center specialist
- Essex Property Trust
West Coast apartment REIT
- Kimco Realty
Open-air retail and mixed-use shopping center owner
- BXP
Premier office REIT in overlapping gateway markets
- Federal Realty
Coastal retail and mixed-use REIT
- AvalonBay Communities
Large apartment REIT in leading U.S. metros
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| American Assets Trust | $22.60 | +0.71% | $1.38B | 83.3 | 57.5 | 3.1 | +1.4% |
| Kilroy Realty | $36.21 | −0.03% | $4.21B | 25.3 | 86.1 | 3.8 | −6.0% |
| Hudson Pacific Properties | $13.14 | −0.23% | $712.7M | — | — | 0.9 | −0.9% |
| Regency Centers | $75.52 | +0.01% | $13.79B | 21.4 | 29.9 | 8.0 | +5.8% |
| Essex Property Trust | $284.03 | 0.00% | $18.25B | 44.2 | 47.4 | 9.5 | +3.6% |
| Kimco Realty | $23.78 | +0.02% | $16.03B | 26.7 | 27.8 | 7.3 | +4.1% |
| BXP | $68.89 | −0.61% | $11.05B | 37.3 | 33.8 | 3.1 | +3.1% |
| Federal Realty | $116.75 | −0.01% | $10.09B | 23.3 | 37.7 | 7.6 | +4.6% |
| AvalonBay Communities | $184.06 | 0.00% | $26.28B | 25.4 | 35.5 | 8.5 | −6.3% |
| Median | 25.4 | 35.5 | 7.4 | +3.4% |