(AAT) American Assets Trust - Overview
Stock: Office, Retail, Residential, Hotel, Mixed-Use
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 6.77% |
| Yield on Cost 5y | 6.02% |
| Yield CAGR 5y | 4.06% |
| Payout Consistency | 99.0% |
| Payout Ratio | 1.6% |
| Risk 5d forecast | |
|---|---|
| Volatility | 28.0% |
| Relative Tail Risk | -4.06% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.48 |
| Alpha | -21.48 |
| Character TTM | |
|---|---|
| Beta | 0.664 |
| Beta Downside | 0.679 |
| Drawdowns 3y | |
|---|---|
| Max DD | 38.02% |
| CAGR/Max DD | -0.13 |
Description: AAT American Assets Trust January 16, 2026
American Assets Trust, Inc. (NYSE:AAT) is a vertically integrated REIT based in San Diego that acquires, develops, and manages office, retail, residential, and mixed-use properties in high-barrier-to-entry U.S. markets, chiefly Southern California, Northern California, Washington, Oregon, Texas, and Hawaii.
Its current asset base includes roughly 4.3 million rentable square feet of office space, 2.4 million rentable square feet of retail space, one mixed-use complex (≈94,000 sq ft of retail plus a 369-room all-suite hotel), and 2,302 multifamily units.
Recent performance indicators (FY 2023) show an occupancy rate of ~94 % across its office portfolio, a funds-from-operations (FFO) growth of 6 % YoY, and a leverage ratio of 5.2× net debt to EBITDA, reflecting moderate sensitivity to rising interest rates-a key macro driver for REITs.
Sector-level trends that could impact AAT include the ongoing shift toward hybrid work (pressuring office demand in its core California markets) and robust tourism recovery in Hawaii, which supports the mixed-use hotel component. Additionally, California’s stringent zoning and permitting environment continues to create high entry barriers, favoring incumbents like AAT.
For a deeper quantitative assessment, you may want to explore ValueRay’s detailed FFO and valuation metrics.
Piotroski VR‑10 (Strict, 0-10) 4.5
| Net Income: 64.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA -0.82 > 1.0 |
| NWC/Revenue: 28.80% < 20% (prev 114.3%; Δ -85.50% < -1%) |
| CFO/TA 0.06 > 3% & CFO 167.2m > Net Income 64.1m |
| Net Debt (1.57b) to EBITDA (239.3m): 6.55 < 3 |
| Current Ratio: 2.20 > 1.5 & < 3 |
| Outstanding Shares: last quarter (76.7m) vs 12m ago 27.20% < -2% |
| Gross Margin: 61.60% > 18% (prev 0.63%; Δ 6096 % > 0.5%) |
| Asset Turnover: 13.87% > 50% (prev 13.45%; Δ 0.42% > 0%) |
| Interest Coverage Ratio: 1.38 > 6 (EBITDA TTM 239.3m / Interest Expense TTM 82.1m) |
Altman Z'' 0.00
| A: 0.04 (Total Current Assets 232.4m - Total Current Liabilities 105.8m) / Total Assets 2.94b |
| B: -0.11 (Retained Earnings -313.6m / Total Assets 2.94b) |
| C: 0.04 (EBIT TTM 113.3m / Avg Total Assets 3.17b) |
| D: -0.17 (Book Value of Equity -310.9m / Total Liabilities 1.83b) |
| Altman-Z'' Score: -0.00 = B |
Beneish M -3.00
| DSRI: 0.99 (Receivables 93.6m/98.6m, Revenue 439.6m/456.9m) |
| GMI: 1.03 (GM 61.60% / 63.33%) |
| AQI: 1.13 (AQ_t 0.91 / AQ_t-1 0.81) |
| SGI: 0.96 (Revenue 439.6m / 456.9m) |
| TATA: -0.04 (NI 64.1m - CFO 167.2m) / TA 2.94b) |
| Beneish M-Score: -3.00 (Cap -4..+1) = A |
What is the price of AAT shares?
Over the past week, the price has changed by +4.87%, over one month by +1.94%, over three months by +2.04% and over the past year by -10.94%.
Is AAT a buy, sell or hold?
- StrongBuy: 0
- Buy: 0
- Hold: 3
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the AAT price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 18 | -5% |
| Analysts Target Price | 18 | -5% |
| ValueRay Target Price | 19.8 | 4.5% |
AAT Fundamental Data Overview February 02, 2026
P/S = 3.2095
P/B = 0.942
P/EG = 21.85
Revenue TTM = 439.6m USD
EBIT TTM = 113.3m USD
EBITDA TTM = 239.3m USD
Long Term Debt = 1.69b USD (from longTermDebt, last quarter)
Short Term Debt = 325.0m USD (from shortTermDebt, last fiscal year)
Debt = 1.71b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.57b USD (from netDebt column, last quarter)
Enterprise Value = 2.96b USD (1.40b + Debt 1.71b - CCE 138.7m)
Interest Coverage Ratio = 1.38 (Ebit TTM 113.3m / Interest Expense TTM 82.1m)
EV/FCF = 31.76x (Enterprise Value 2.96b / FCF TTM 93.3m)
FCF Yield = 3.15% (FCF TTM 93.3m / Enterprise Value 2.96b)
FCF Margin = 21.24% (FCF TTM 93.3m / Revenue TTM 439.6m)
Net Margin = 14.58% (Net Income TTM 64.1m / Revenue TTM 439.6m)
Gross Margin = 61.60% ((Revenue TTM 439.6m - Cost of Revenue TTM 168.8m) / Revenue TTM)
Gross Margin QoQ = 60.49% (prev 62.64%)
Tobins Q-Ratio = 1.01 (Enterprise Value 2.96b / Total Assets 2.94b)
Interest Expense / Debt = 1.16% (Interest Expense 19.8m / Debt 1.71b)
Taxrate = 3.46% (156.0k / 4.51m)
NOPAT = 109.4m (EBIT 113.3m * (1 - 3.46%))
Current Ratio = 2.20 (Total Current Assets 232.4m / Total Current Liabilities 105.8m)
Debt / Equity = 1.46 (Debt 1.71b / totalStockholderEquity, last quarter 1.17b)
Debt / EBITDA = 6.55 (Net Debt 1.57b / EBITDA 239.3m)
Debt / FCF = 16.80 (Net Debt 1.57b / FCF TTM 93.3m)
Total Stockholder Equity = 1.18b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.02% (Net Income 64.1m / Total Assets 2.94b)
RoE = 5.42% (Net Income TTM 64.1m / Total Stockholder Equity 1.18b)
RoCE = 3.95% (EBIT 113.3m / Capital Employed (Equity 1.18b + L.T.Debt 1.69b))
RoIC = 3.71% (NOPAT 109.4m / Invested Capital 2.95b)
WACC = 4.38% (E(1.40b)/V(3.10b) * Re(8.36%) + D(1.71b)/V(3.10b) * Rd(1.16%) * (1-Tc(0.03)))
Discount Rate = 8.36% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 0.23%
[DCF Debug] Terminal Value 88.43% ; FCFF base≈110.2m ; Y1≈136.0m ; Y5≈231.5m
Fair Price DCF = 84.62 (EV 6.74b - Net Debt 1.57b = Equity 5.17b / Shares 61.2m; r=5.90% [WACC]; 5y FCF grow 25.0% → 2.90% )
EPS Correlation: -6.19 | EPS CAGR: -46.55% | SUE: -0.45 | # QB: 0
Revenue Correlation: 58.48 | Revenue CAGR: 2.00% | SUE: 0.76 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.11 | Chg30d=+0.000 | Revisions Net=+0 | Analysts=1
EPS next Year (2026-12-31): EPS=0.43 | Chg30d=-0.030 | Revisions Net=-1 | Growth EPS=+13.2% | Growth Revenue=+2.9%