10-Q · October 31, 2025
Q3 2025 results show revenue of $109,578 (in thousands) and diluted EPS of $0.07, with operating income of $24,767 (in thousands). Quarter-over-quarter and year-over-year operating results weakened (revenue down from…
Earnings analysis · 10-Q
AAT earnings analysis
Filed May 1, 2026 · Our reading of the company's report
The latest report
American Assets Trust, Inc. reported Q1 2026 revenues of $110.6 million, slightly exceeding consensus estimates, and an EPS of $0.51, reflecting an increase of 2% in total revenues and a significant drop in net income…
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American Assets Trust, Inc. reported Q1 2026 revenues of $110.6 million, slightly exceeding consensus estimates, and an EPS of $0.51, reflecting an increase of 2% in total revenues and a significant drop in net income compared to the previous year. The company reaffirmed its full-year guidance for FFO despite challenges in some segments, particularly retail, which saw revenue declines.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.51
- Segment
- Office
- Segment
- Retail
- Segment
- Multifamily
- Segment
- Mixed-Use
What stood out
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Revenue Slightly Exceeds Estimates
Q1 2026 revenue reached $110.6 million, higher than the estimated $109.6 million.
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EPS Above Consensus
Reported EPS of $0.51 beat the estimate of $0.50 by 2%.
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Growth in Multifamily Segment
Multifamily rental revenue increased by $1.1 million, or 7%, due to acquisitions.
-
Stable FFO Guidance
The company affirmed its FFO guidance for 2026 at $1.96 to $2.10 per share.
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Increase in Rental Revenue
Overall rental revenue increased $1.5 million, or 1%, across the portfolio.
-
Strong Property Occupancy
Office segment occupancy at 84.5%, slightly down from 85.5% last year.
What to watch
-
Dramatic Decline in Net Income
Net income plummeted 88% to $6.7 million from $54.1 million in the prior year.
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Retail Revenue Decline
Retail rental revenue dropped $1.3 million, or 6%, compared to last year.
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Increasing Real Estate Taxes
Total property expenses rose by 6% to $43.7 million, driven by higher taxes.
Management's outlook
Affirmed full-year 2026 FFO guidance of $1.96 to $2.10 per share.
Earlier filings 4
10-Q · May 2, 2025
Q1 2025 results were boosted by a one-time gain on sale of Del Monte Center, producing revenue of $108,607 (in thousands) and diluted EPS of $0.70, up from $110,695 and $0.32 in Q1 2024. Operating income rose to $71,972…
10-Q · August 2, 2024
Q2 2024 results were broadly stable: total revenue was $110,890 (in thousands), up $1,169 from $109,721 in Q2 2023, while diluted EPS remained $0.20. Operating income slipped to $30,794 (in thousands) from $31,492 a…
10-Q · May 3, 2024
American Assets Trust reported modest top-line growth with total revenue of $110,695,000 (Q1 2024) versus $107,754,000 (Q1 2023) and operating income essentially flat at $30,549,000. Net income rose to $24,623,000 and…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.