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Companies / Real Estate / American Assets Trust, Inc.
AAT

American Assets Trust, Inc.

Ticker AATSAN DIEGO, CAFiscal year ends DecemberBook value per share $14.44Diluted shares 76.9M

American Assets Trust, Inc. (NYSE: AAT) is a real estate investment trust that owns, operates, acquires and develops office, retail, multifamily and mixed-use properties in California, Washington, Oregon, Texas and Hawaii. Its portfolio includes office buildings, shopping centers, multifamily properties and a… From the company’s description.

Over the twelve months to Sep 30, 2026, American Assets Trust, Inc. reported revenue of $444.44M, up 1.1% from a year earlier, and net income of $27.77M. Its operating margin was 23.6%, and operations generated $170.38M in cash. In fiscal 2025, it reported revenue of $436.20M, down 4.7% from fiscal 2024, and net income of $71.37M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-09-30
Sales & profitability
$436.20MFY2025
−4.7% year over year
Last 12 mo $444.44M
33.45%FY2025
+5.2 percentage points
Last 12 mo 23.58%
$71.37MFY2025
−2.0% year over year
Last 12 mo $27.77M
4.91%FY2025
No change, year over year
Last 12 mo 1.99%
Cash & financing
$167.12MFY2025
−19.3% year over year
Last 12 mo $170.38M
$26.98MFY2025
−80.3% year over year
Last 12 mo $75.15M
1.48FY2025
Was 1.72× a year earlier
Last 12 mo 1.53
76.7MFY2025
+0.3% year over year
Last 12 mo 76.9M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What American Assets Trust, Inc. does

In the company’s own words

American Assets Trust, Inc. (NYSE: AAT) is a real estate investment trust that owns, operates, acquires and develops office, retail, multifamily and mixed-use properties in California, Washington, Oregon, Texas and Hawaii. Its portfolio includes office buildings, shopping centers, multifamily properties and a mixed-use property with an all-suite hotel and retail center, serving commercial tenants, retailers and residents. The company operates through four reportable segments: office, retail, multifamily and mixed-use. As of December 31, 2025, it owned 12 office properties, 11 retail shopping centers, seven multifamily properties and the mixed-use property, which includes a 369-room hotel; it also held land for development at two properties. The company was formed in 2010 to acquire interests in real estate assets owned or managed by Ernest S. Rady or affiliates, and its operations are conducted through American Assets Trust, L.P., its operating partnership. It had 232 employees as of December 31, 2025. Its website is www.americanassetstrust.com.

Company details
Sector
Real Estate
Industry (SIC)
REITs
Headquarters
SAN DIEGO, CA
Fiscal year end
December
CIK
1500217
SIC
6798

Financial performance, year by year

Fiscal 2011–2025 · USD
$-45.79M$91.57M$228.93M$366.28M$503.64M201120122013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns American Assets Trust, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

241
funds hold it
0 of 35
superinvestors hold it
$533.89M
held by funds, at market
37.1%
of shares held by funds

Largest fund holders · American Assets Trust, Inc.’s weight in each

iShares Core S&P Small-Cap ETF
IJR · iShares Trust
0.06%of fund net assets
VANGUARD REAL ESTATE INDEX FUND
VNQ · VANGUARD SPECIALIZED FUNDS
—of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.04%of fund net assets
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.01%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Could not be determined for this company: bond issues.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do American Assets Trust, Inc. and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of American Assets Trust, Inc.'s earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in American Assets Trust, Inc.'s last four quarterly filings that the numbers alone won't show?”
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