AAT Stock Analysis: American Assets Trust | NYSE
REIT - Diversified | NYSE, USA | Market Cap: 1.682m USD | 12M Return: 17.2% | US0240131047 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 9.55M
EPS Trend: -31.4%
Qual. Beats: 0
Rev. Trend: -10.3%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
American Assets Trust, Inc. (AAT) is a full-service, vertically integrated, and self-administered real estate investment trust (REIT) headquartered in San Diego, California, with more than 55 years of operating history. Originally founded in 1967 as American Assets, Inc., the company was reorganized into its current REIT form in 2011, with a focus on acquiring, improving, developing, and managing office, retail, and residential properties in select high-barrier-to-entry U.S. markets, primarily in Southern California, Northern California, Washington, Oregon, Texas, and Hawaii.
Its portfolio spans approximately 4.3 million rentable square feet of office space, approximately 2.4 million rentable square feet of retail space, one mixed-use property (including approximately 94,000 rentable square feet of retail space and a 369-room all-suite hotel), and 2,302 multifamily units. As a diversified REIT, AATs holdings are intentionally spread across multiple property types, allowing its performance to be partially insulated from weakness in any single real estate sector, while its vertically integrated operating structure keeps property management, leasing, and development in-house rather than outsourced to third parties.
- West Coast office occupancy recovery lifts same-store NOI
- Multifamily rent growth accelerates in supply-constrained markets
- Rising interest rates pressure REIT cap rates and dividend valuation
| Net Income: 20.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA -2.17 > 1.0 |
| NWC/Revenue: 21.06% < 20% (prev 30.11%; Δ -9.05% < -1%) |
| CFO/TA 0.06 > 3% & CFO 168.6m > Net Income 20.7m |
| Net Debt (1.62b) to EBITDA (232.2m): 7.00 < 3 |
| Current Ratio: 1.86 > 1.5 & < 3 |
| Outstanding Shares: last quarter (76.9m) vs 12m ago 0.21% < -2% |
| Gross Margin: 60.61% > 18% (prev 62.92%; Δ -2.30% > 0.5%) |
| Asset Turnover: 15.04% > 50% (prev 15.32%; Δ -0.28% > 0%) |
| Interest Coverage Ratio: 1.30 > 6 (EBIT TTM 103.1m / Interest Expense TTM 79.2m) |
| A: 0.03 (Total Current Assets 199.7m - Total Current Liabilities 107.1m) / Total Assets 2.89b |
| B: -0.13 (Retained Earnings -362.1m / Total Assets 2.89b) |
| C: 0.04 (EBIT TTM 103.1m / Avg Total Assets 2.92b) |
| D: 0.61 (Book Value of Equity 1.12b / Total Liabilities 1.84b) |
| Altman-Z'' = 0.68 = B |
| DSRI: 1.00 (Receivables 90.0m/92.8m, Revenue 439.7m/452.8m) |
| GMI: 1.04 (GM 62.92% / 60.61%) |
| AQI: 0.03 (AQ_t 0.03 / AQ_t-1 0.91) |
| SGI: 0.97 (Revenue 439.7m / 452.8m) |
| TATA: -0.05 (NI 20.7m - CFO 168.6m) / TA 2.89b) |
| Beneish M = -3.59 (Cap -4..+1) = AAA |
As of October 16, 2026, the stock is trading at USD 21.45 with a total of 441,423 shares traded. Over the past week, the price has changed by -0.74%, over one month by -0.79%, over three months by -14.45% and over the past year by +17.18%.
Current recommended Stop Loss: 20.90 (which is 2.6% or 1.5 ATR below the current price).
American Assets Trust has received a consensus analysts rating of 2.33. Therefore, it is recommended to sell AAT.
- StrongBuy: 0
- Buy: 0
- Hold: 2
- Sell: 0
- StrongSell: 1
| Analysts Target Price | 23.5 | 9.6% |
P/E Trailing = 74.7586
P/E Forward = 60.6061
P/S = 3.8635
P/B = 1.1759
P/EG = 9.343
Revenue TTM = 439.7m USD
EBIT TTM = 103.1m USD
EBITDA TTM = 232.2m USD
Long Term Debt = 1.69b USD (from longTermDebt, last quarter)
Short Term Debt = 1.79m USD (from shortTermDebt, last quarter)
Debt = 1.73b USD (from shortLongTermDebtTotal, last quarter) + Leases 17.3m
Net Debt = 1.62b USD (calculated: Debt 1.73b - CCE 109.7m)
Enterprise Value = 3.31b USD (1.68b + Debt 1.73b - CCE 109.7m)
Interest Coverage Ratio = 1.30 (Ebit TTM 103.1m / Interest Expense TTM 79.2m)
EV/FCF = 40.37x (Enterprise Value 3.31b / FCF TTM 81.9m)
FCF Yield = 2.48% (FCF TTM 81.9m / Enterprise Value 3.31b)
FCF Margin = 18.63% (FCF TTM 81.9m / Revenue TTM 439.7m)
Net Margin = 4.70% (Net Income TTM 20.7m / Revenue TTM 439.7m)
Gross Margin = 60.61% ((Revenue TTM 439.7m - Cost of Revenue TTM 173.2m) / Revenue TTM)
Gross Margin QoQ = 62.04% (prev 60.52%)
Tobins Q-Ratio = 1.14 (Enterprise Value 3.31b / Total Assets 2.89b)
Interest Expense / Debt = 4.57% (Interest Expense 79.2m / Debt 1.73b)
Taxrate = 2.04% (454k / 22.3m)
NOPAT = 101.0m (EBIT 103.1m * (1 - 2.04%))
Current Ratio = 1.06 (Total Current Assets 199.7m / Total Current Liabilities 188.3m)
Debt / Equity = 1.55 (Debt 1.73b / totalStockholderEquity, last quarter 1.12b)
Debt / EBITDA = 7.00 (Net Debt 1.62b / EBITDA 232.2m)
Debt / FCF = 19.83 (Net Debt 1.62b / FCF TTM 81.9m)
Total Stockholder Equity = 1.14b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.71% (Net Income 20.7m / Total Assets 2.89b)
RoE = 1.81% (Net Income TTM 20.7m / Total Stockholder Equity 1.14b)
RoCE = 3.64% (EBIT 103.1m / Capital Employed (Equity 1.14b + L.T.Debt 1.69b))
RoIC = 3.52% (NOPAT 101.0m / Invested Capital 2.87b)
WACC = 5.78% (E(1.68b)/V(3.42b) * Re(7.12%) + D(1.73b)/V(3.42b) * Rd(4.57%) * (1-Tc(0.02)))
Discount Rate = 7.12% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 53.64 | Cagr: 0.23%
[DCF] Terminal Value 73.10% ; FCFF base≈108.3m ; Y1≈95.0m ; Y5≈76.7m
[DCF] Fair Price = N/A (negative equity: EV 1.23b - Net Debt 1.62b = -393.0m; debt exceeds intrinsic value)
EPS Correlation: -31.44 | EPS CAGR: -12.41% | SUE: 0.0 | # QB: 0
Revenue Correlation: -10.32 | Revenue CAGR: -0.22% | SUE: -0.32 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.10 | Chg30d=-9.09% | Revisions=-25% | Analysts=1
EPS current Year (2026-12-31): EPS=0.39 | Chg30d=-15.22% | Revisions=-25% | GrowthEPS=-57.6% | GrowthRev=+2.4%
EPS next Year (2027-12-31): EPS=0.37 | Chg30d=-17.78% | Revisions=-25% | GrowthEPS=-5.1% | GrowthRev=+3.0%