American Assets Trust, Inc. (AAT) operates as a fully integrated and internally managed real estate investment trust (REIT), headquartered in San Diego, ...
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$1.36 per share
Est. EPS $0.10 · Revenue $111.31M · 1 analysts
Est. EPS $0.11 · Revenue $114.28M · 1 analysts
Est. EPS $0.39 · Revenue $441.72M · 1 analysts
$1.36 per share
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $436.2M | -4.7% | -1.0% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $71.4M | -2.0% | +5.4% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +61.1% | -3.5% | +2.5% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +33.5% | +18.6% | +2.8% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | +16.4% | +2.9% | +6.4% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $94.9M | -30.7% | +34.5% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | +21.7% | -27.3% | +35.8% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 148.3% | -14.2% | +1.9% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 2.04x | -65.6% | +5601.2% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $2.9B | -10.8% | -0.3% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | 0.92 vs 0.38 | +142.1% | 0.07 vs 0.10 | -32.7% |
| Revenue Surprise | $436.2M vs $432.5M | +0.8% | $109.5M vs $110.6M | -1.0% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Sep 2, 2026 | RADY ERNEST S | director, 10 percent owner, officer: Executive Chairman | Common Stock, par value $0.01 | A | 96,636 | $22.50 |
| Sep 1, 2026 | RADY ERNEST S | director, 10 percent owner, officer: Executive Chairman | Common Stock, par value $0.01 | A | 50,000 | $22.40 |
| Aug 31, 2026 | RADY ERNEST S | director, 10 percent owner, officer: Executive Chairman | Common Stock, par value $0.01 | A | 20,000 | $22.33 |
| Aug 28, 2026 | RADY ERNEST S | director, 10 percent owner, officer: Executive Chairman | Common Stock, par value $0.01 | A | 50,000 | $22.52 |
| Aug 27, 2026 | RADY ERNEST S | director, 10 percent owner, officer: Executive Chairman | Common Stock, par value $0.01 | A | 50,000 | $22.56 |
Operator: Good morning, and welcome to the American Assets Trust Inc. Second Quarter 2026 Earnings Call. [Operator Instructions] I would now like to turn the call over to Meleana Leaverton, Associate General Counsel of American Assets Trust. Please go ahead. Meleana Leaverton: Thank you, and good morning. The statements made on this earnings call include forward-looking statements based on current expectations, which statements are subject to risks and uncertainties discussed in the company's filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements as actual events could cause the company's results to differ materially from these forward-looking statements. Yesterday afternoon, American Assets Trust's earnings release and supplemental information were furnished to the SEC on Form 8-K. Both are now available on the Investors section of its website, americanassetstrust.com. It is now my pleasure to turn the call over to Adam Wyll, President and CEO of American Assets Trust. Adam Wyll: Good morning, everyone, and thank you for joining us today. At American Assets Trust, we manage our business with patience, discipline and a long-term focus regardless of where we are in the economic cycle, letting the quality of our assets and our platform do the heavy lifting. That consistency has served us well through the first half of 2026 even as economic conditions and capital markets are still uneven. For the second quarter, we generated $0.51 of FFO per diluted share, ahead of our internal expectations. Portfolio-wide same-store cash NOI increased 0.3% or 1.3%, excluding a onetime reserve for an office tenant receivable. At midyear, our current outlook supports the midpoint of our full year FFO guidance range with potential to move into the upper half if several operating variables develop favorably. Bob will discuss those factors and the key moving pieces shortly. The broader economy presents a mixed but generally resilient picture. Growth is solid and unemployment remains low, while hiring has moderated and inflation, although still above target, eased in the latest reading. For commercial real estate, that backdrop supports tenant demand, while transaction activity has become more constructive. Retail and multifamily assets are commanding strong pricing, a favorable read-through to the value of what we own and office transaction activity is picking up, providing greater visibility into the value of our office portfolio. Public real estate markets have strengthened as well with listed REITs outperforming the broader equity market this year on growing investor recognition of durable cash flows, limited new supply and high replacement costs. Still, performance is highly differentiated, and our job is to keep executing, translating leasing progress into commenced rent, cash flow growth and ultimately, a valuation that better reflects the quality of our portfolio. Our balance sheet supports that execution …
| Name | Title | Compensation | Gender | Year Born | Status |
|---|---|---|---|---|---|
Adam Wyll | Chief Executive Officer, President & Secretary | USD 2,577,122 | Male | 1975 | Active |
Robert F. Barton | Executive Vice President, Treasurer & Chief Financial Officer | USD 1,760,680 | Male | 1957 | Active |
Ernest Sylvan Rady | Executive Chairman of the Board | USD 1,642,487 | Male | 1937 | Active |
Jerry Gammieri | Senior Vice President of Construction & Development | USD 908,404 | Male | 1965 | Active |
Christopher E. Sullivan | Senior Vice President of Retail Properties | — | Male | 1962 | Active |
Steve Center | Senior Vice President of Office Properties | — | Male | — | Active |
Meleana Leaverton | Associate General Counsel | — | — | — | Active |
The indirect purchase involved ~100,000 shares at a weighted average price of $22.54 per share, representing an investment of ~$2.3 million. This transaction represents a size equal to 0.71% of the total equity stake held before the filing.
The indirect acquisition of 79,729 shares represents a capital commitment of approximately $1.8 million based on a weighted average price of $22.83. The executive traded shares equal to 0.57% of the indirect stake held before the filing.
The purchase of 50,000 shares was executed at $22.75 per share, representing an investment of ~$1.1 million. The transaction increased the total equity position by 0.36% while maintaining a substantial 23% ownership stake in the firm.
American Assets Trust (AAT) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
