AAT Stock Analysis: American Assets Trust | NYSE
REIT - Diversified | NYSE, USA | Market Cap: 1.949m USD | 12M Return: 34.9% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 10.1M
EPS Trend: -22.9%
Qual. Beats: 0
Rev. Trend: 17.0%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 10.5 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. (NYSE: AAT) is a vertically integrated, self-administered real estate investment trust (REIT) that acquires, develops, and manages office, retail, multifamily, and mixed-use properties. The company traces its roots to American Assets, Inc., a privately held corporation founded in 1967, and was incorporated in its current form in 2011. It is headquartered in San Diego, California, and went public in January 2011.
AAT operates in high-barrier-to-entry markets primarily along the West Coast and in Texas and Hawaii, with concentrations in Southern and Northern California, Washington, Oregon, Texas, and Hawaii. Its portfolio includes approximately 4.3 million rentable square feet of office space, approximately 2.4 million rentable square feet of retail space, 2,302 multifamily units, and one mixed-use property featuring a 369-room all-suite hotel alongside roughly 94,000 square feet of retail space.
As a diversified REIT, AAT generates revenue from multiple property types, which is a common structural feature within the GICS Diversified REITs sub-industry. The companys small-cap status (approximately $1.9 billion market capitalization) and its multi-decade operating history position it as a regionally focused player in the broader U.S. real estate sector.
- West Coast office occupancy weakens on remote work shift
- Multifamily rents grow in supply-constrained coastal markets
- Higher interest rates lift refinancing and cap rate risk
| Net Income: 22.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA -0.63 > 1.0 |
| NWC/Revenue: 23.34% < 20% (prev 31.83%; Δ -8.48% < -1%) |
| CFO/TA 0.06 > 3% & CFO 168.8m > Net Income 22.4m |
| Net Debt (1.61b) to EBITDA (232.5m): 6.91 < 3 |
| Current Ratio: 1.95 > 1.5 & < 3 |
| Outstanding Shares: last quarter (76.9m) vs 12m ago 0.21% < -2% |
| Gross Margin: 60.76% > 18% (prev 63.15%; Δ -2.39% > 0.5%) |
| Asset Turnover: 14.93% > 50% (prev 15.36%; Δ -0.42% > 0%) |
| Interest Coverage Ratio: 1.31 > 6 (EBIT TTM 103.4m / Interest Expense TTM 79.0m) |
| A: 0.04 (Total Current Assets 209.4m - Total Current Liabilities 107.1m) / Total Assets 2.90b |
| B: -0.12 (Retained Earnings -346.6m / Total Assets 2.90b) |
| C: 0.04 (EBIT TTM 103.4m / Avg Total Assets 2.93b) |
| D: 0.62 (Book Value of Equity 1.14b / Total Liabilities 1.83b) |
| Altman-Z'' = 0.73 = B |
| DSRI: 1.00 (Receivables 91.1m/94.3m, Revenue 438.2m/455.8m) |
| GMI: 1.04 (GM 63.15% / 60.76%) |
| AQI: 1.01 (AQ_t 0.92 / AQ_t-1 0.91) |
| SGI: 0.96 (Revenue 438.2m / 455.8m) |
| TATA: -0.05 (NI 22.4m - CFO 168.8m) / TA 2.90b) |
| Beneish M = -3.01 (Cap -4..+1) = AA |
As of July 17, 2026, the stock is trading at USD 25.85 with a total of 498,832 shares traded. Over the past week, the price has changed by +3.11%, over one month by +5.94%, over three months by +29.03% and over the past year by +34.89%.
Current recommended Stop Loss: 25.10 (which is 2.9% or 1.5 ATR below the current price).
American Assets Trust has received a consensus analysts rating of 3.00. Therefore, it is recommended to hold AAT.
- StrongBuy: 0
- Buy: 0
- Hold: 3
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 20.5 | -20.7% |
P/E Trailing = 83.7333
P/E Forward = 60.6061
P/S = 4.4917
P/B = 1.3568
P/EG = 9.343
Revenue TTM = 438.2m USD
EBIT TTM = 103.4m USD
EBITDA TTM = 232.5m USD
Long Term Debt = 1.69b USD (from longTermDebt, last quarter)
Short Term Debt = 2.69m USD (from shortTermDebt, last quarter)
Debt = 1.72b USD (from shortLongTermDebtTotal, last quarter) + Leases 18.0m
Net Debt = 1.61b USD (calculated: Debt 1.72b - CCE 118.3m)
Enterprise Value = 3.55b USD (1.95b + Debt 1.72b - CCE 118.3m)
Interest Coverage Ratio = 1.31 (Ebit TTM 103.4m / Interest Expense TTM 79.0m)
EV/FCF = 38.39x (Enterprise Value 3.55b / FCF TTM 92.6m)
FCF Yield = 2.60% (FCF TTM 92.6m / Enterprise Value 3.55b)
FCF Margin = 21.13% (FCF TTM 92.6m / Revenue TTM 438.2m)
Net Margin = 5.11% (Net Income TTM 22.4m / Revenue TTM 438.2m)
Gross Margin = 60.76% ((Revenue TTM 438.2m - Cost of Revenue TTM 172.0m) / Revenue TTM)
Gross Margin QoQ = 60.52% (prev 59.42%)
Tobins Q-Ratio = 1.23 (Enterprise Value 3.55b / Total Assets 2.90b)
Interest Expense / Debt = 4.58% (Interest Expense 79.0m / Debt 1.72b)
Taxrate = 2.00% (454k / 22.8m)
NOPAT = 101.3m (EBIT 103.4m * (1 - 2.00%))
Current Ratio = 1.95 (Total Current Assets 209.4m / Total Current Liabilities 107.1m)
Debt / Equity = 1.52 (Debt 1.72b / totalStockholderEquity, last quarter 1.14b)
Debt / EBITDA = 6.91 (Net Debt 1.61b / EBITDA 232.5m)
Debt / FCF = 17.34 (Net Debt 1.61b / FCF TTM 92.6m)
Total Stockholder Equity = 1.16b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.76% (Net Income 22.4m / Total Assets 2.90b)
RoE = 1.93% (Net Income TTM 22.4m / Total Stockholder Equity 1.16b)
RoCE = 3.63% (EBIT 103.4m / Capital Employed (Equity 1.16b + L.T.Debt 1.69b))
RoIC = 3.65% (NOPAT 101.3m / Invested Capital 2.77b)
WACC = 6.12% (E(1.95b)/V(3.67b) * Re(7.56%) + D(1.72b)/V(3.67b) * Rd(4.58%) * (1-Tc(0.02)))
Discount Rate = 7.56% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 36.73 | Cagr: 0.29%
[DCF] Terminal Value 73.10% ; FCFF base≈101.0m ; Y1≈88.5m ; Y5≈71.5m
[DCF] Fair Price = N/A (negative equity: EV 1.15b - Net Debt 1.61b = -457.8m; debt exceeds intrinsic value)
EPS Correlation: -22.89 | EPS CAGR: -9.10% | SUE: -0.13 | # QB: 0
Revenue Correlation: 17.00 | Revenue CAGR: 0.38% | SUE: 0.19 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.12 | Chg30d=+9.09% | Revisions=+0% | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.11 | Chg30d=+0.00% | Revisions=+0% | Analysts=1
EPS current Year (2026-12-31): EPS=0.46 | Chg30d=+6.98% | Revisions=-25% | GrowthEPS=-50.0% | GrowthRev=+2.4%
EPS next Year (2027-12-31): EPS=0.45 | Chg30d=+9.76% | Revisions=+0% | GrowthEPS=-2.2% | GrowthRev=+2.9%