Stocks · Real Estate · REIT - Diversified
American Assets Trust, Inc. AAT
$21.55 +0.75% Close, Oct 2, 2026 · NYSE · Market cap $1.32B
Strong trend
Next earnings report: Oct 27, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Operating margin narrowed to 22.8% from 36.6% a year earlier.
- Diluted EPS over the last four quarters was $0.27, down 77.9% year over year.
- Net debt is 6.9× EBITDA, a high level of leverage.
PromtFinance scores
Each score is a percentile within the Real Estate sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Bottom 18%
- EPS growth (TTM, YoY)Bottom 17%
- FCF growth (TTM, YoY)Bottom 42%
- Revenue growth, 3-year CAGRBottom 23%
- Revenue growth accelerationTop 39%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalBottom 44%
- Gross marginTop 38%
- Operating marginBottom 46%
- Cash conversion (OCF / net income)Top 13%
- Accruals (lower is better)Top 26%
- Net debt / EBITDA (lower is better)Bottom 36%
- Interest coverBottom 49%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 40%
- Free-cash-flow yieldTop 39%
- EBITDA / enterprise valueTop 28%
- Sales / enterprise valueTop 29%
- P/E vs own 5-year history (lower is better)Bottom 9%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 31%
- 6-month returnTop 16%
- 1-year return vs S&P 500Top 26%
- Distance from 52-week highTop 36%
- Trend checklist (0–4)Top 19%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersBottom 15%
- Consecutive EPS beatsBottom 18%
- Share of analysts rating BuyBottom 30%
- Upside to consensus price targetBottom 1%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 20%
- Maximum drawdown, 3 yearsBottom 47%
- Beta vs S&P 500 (lower is better)Bottom 30%
- Net debt / EBITDA (lower is better)Bottom 36%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | -3.9% | -2.9% | ↑ |
| EPS growth (YoY) | -78.1% | -77.9% | ↑ |
| Gross margin | 62.9% | 60.6% | ↓ |
| Operating margin | 36.6% | 22.8% | ↓ |
| FCF margin | 21.7% | 20.2% | ↓ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | -2.9% | -3.9% | ↑ | Bottom 18% |
| EPS growth (TTM, YoY) | -77.9% | -78.1% | ↑ | Bottom 17% |
| Gross margin | 60.6% | 62.9% | ↓ | Top 38% |
| Operating margin | 22.8% | 36.6% | ↓ | Bottom 46% |
| Net margin | 4.7% | 20.8% | ↓ | — |
| Free-cash-flow margin | 20.2% | 21.7% | ↓ | — |
| Return on invested capital | 3.4% | — | Bottom 44% | |
| Revenue growth, 3-year CAGR | 1.1% | — | Bottom 23% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 3.00×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -5.1%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 1.7%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -0.1 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 6.92×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 1.3×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 6.72%
- Net buyback yield (TTM)
- 0.18%
- Shareholder yield
- 6.90%
- Share count change, 1 year
- +0.2%
- Share count change, 3-year CAGR
- +0.2%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Jul 31, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 0
- Beats in the last 8 reports
- 3 of 8
- Average EPS surprise, last 4
- -67.1%
- Average 2-day reaction, last 8
- +0.0%
- Positive 20 days after report
- 5 of 8
Analysts
- Consensus price target
- $18.50
- Target vs current price
- -14.2%
- Analysts with a rating
- 11
- Share rating Buy or Strong Buy
- 36%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Jul 28, 2026 | -10.0% | -0.9% | -1.9% | -5.5% | — |
| Apr 28, 2026 | -83.4% | +1.8% | -2.9% | +5.7% | +14.4% |
| Feb 3, 2026 | -89.2% | +0.3% | +4.4% | +8.3% | +13.4% |
| Oct 28, 2025 | -85.7% | +0.1% | -5.6% | -4.2% | -10.5% |
| Jul 29, 2025 | -81.6% | +2.1% | -5.7% | +2.4% | -0.2% |
| Apr 29, 2025 | +55.6% | -2.6% | +0.2% | +4.4% | +5.4% |
| Feb 4, 2025 | +7.1% | -0.4% | -6.6% | -9.9% | -22.3% |
| Oct 29, 2024 | +100.0% | -0.4% | -1.2% | +3.1% | -9.2% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Jul 28, 2026 | $0.09 | $0.10 | -10.0% | $109.5M |
| Apr 28, 2026 | $0.08 | $0.51 | -83.4% | $110.6M |
| Feb 3, 2026 | $0.05 | $0.48 | -89.2% | $110.1M |
| Oct 28, 2025 | $0.07 | $0.49 | -85.7% | $109.6M |
| Jul 29, 2025 | $0.09 | $0.49 | -81.6% | $107.9M |
| Apr 29, 2025 | $0.70 | $0.45 | +55.6% | $108.6M |
| Feb 4, 2025 | $0.15 | $0.14 | +7.1% | $113.5M |
| Oct 29, 2024 | $0.28 | $0.14 | +100.0% | $122.8M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 80.1× | 34.2× | 86th | Bottom 40% |
| P/E (forward) | 55.3× | — | — | — |
| EV / EBITDA | 12.6× | — | — | Top 28% |
| EV / Sales | 6.66× | — | — | Top 29% |
| Free-cash-flow yield | 6.70% | — | — | Top 39% |
| Earnings yield | 1.25% | — | — | Bottom 40% |
P/E over the past five years
Range 14.4× – 119.9× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- +6.0%
- Earnings per share growth (TTM)
- -77.9%
- Change in P/E multiple
- +471.6%
Most of the move came from a change in the valuation multiple.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✓ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 122
- 50-day average slope (20 days)
- -5.7%
- 200-day average slope (20 days)
- +1.2%
- Distance from 50-day average
- -4.0%
- Distance from 200-day average
- +1.8%
- RSI (14)
- 41.2
- Relative volume
- 0.76×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 18.1%
- Volatility vs own 5-year history
- 0th percentile · Low for this stock
- Beta vs S&P 500 (2 years, weekly)
- 0.72
- Correlation with S&P 500
- 0.44
- Current drawdown from 1-year high
- -16.6%
- Maximum drawdown, 3 years
- -39.7%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Sep 7, 2021 | Mar 23, 2023 | -59.2% | 388 days | Not yet recovered |
| Oct 9, 2020 | Oct 30, 2020 | -20.0% | 15 days | 7 days (Nov 10, 2020) |
| Nov 24, 2020 | Jan 4, 2021 | -12.7% | 26 days | 34 days (Feb 23, 2021) |
| Mar 8, 2021 | Mar 24, 2021 | -10.9% | 12 days | 46 days (May 28, 2021) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $1.32B
- P/E (TTM)
- 80.1
- EPS, diluted (TTM)
- $0.27
- Revenue (TTM)
- $439.7M
- Dividend yield
- 6.31%
- 52-week range
- $17.72 – $25.97
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $375.8M | $422.6M | $441.2M | $457.9M | $436.2M |
| Gross profit | $246.1M | $270.2M | $277.2M | $290.1M | $266.6M |
| Operating income | $99.9M | $114.7M | $121.7M | $129.2M | $145.9M |
| Net income | $36.6M | $55.9M | $64.7M | $72.8M | $71.4M |
| EPS (diluted) | $0.47 | $0.72 | $0.84 | $0.94 | $0.92 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $122.8M | $113.5M | $108.6M | $107.9M | $109.6M | $110.1M | $110.6M | $109.5M |
| Net income | $21.3M | $11.6M | $54.1M | $7.1M | $5.9M | $4.2M | $5.1M | $5.4M |
| EPS (diluted) | $0.28 | $0.15 | $0.70 | $0.09 | $0.07 | $0.05 | $0.08 | $0.07 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $168.3M | $179.1M | $188.8M | $207.1M | $167.1M |
| Capital expenditure | -$104.6M | -$113.8M | -$83.0M | -$70.2M | -$72.3M |
| Free cash flow | $63.7M | $65.3M | $105.8M | $136.9M | $94.9M |
| Dividends paid | -$88.9M | -$98.2M | -$101.6M | -$103.4M | -$105.3M |
| Net share buybacks | -$865,000 | $0 | -$831,000 | -$1.4M | -$2.4M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $109.7M
- Total assets
- $2.89B
- Total liabilities
- $1.84B
- Total debt
- $1.72B
- Net debt
- $1.61B
- Shareholders’ equity
- $1.12B
As of Jun 30, 2026 (filed Jul 31, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Sep 3, 2026 | $0.34 | Sep 17, 2026 |
| Jun 4, 2026 | $0.34 | Jun 18, 2026 |
| Mar 5, 2026 | $0.34 | Mar 19, 2026 |
| Dec 4, 2025 | $0.34 | Dec 18, 2025 |
| Sep 4, 2025 | $0.34 | Sep 18, 2025 |
| Jun 5, 2025 | $0.34 | Jun 19, 2025 |
| Mar 6, 2025 | $0.34 | Mar 20, 2025 |
| Dec 5, 2024 | $0.34 | Dec 19, 2024 |
Short interest
- Shares sold short
- 1,907,533
- Days to cover
- 4.09
- Change vs previous report
- +15.9%
FINRA short interest, settlement date Sep 15, 2026.