American Assets Trust, Inc. (AAT) Financial Statements
Industry: Real Estate Investment Trusts
In fiscal 2025, American Assets Trust reported revenue of $436.2M, down 4.7% from $457.9M the year before. Net income was $3.1M (a 0.7% net margin), or $0.92 per diluted share. Gross margin was 61.1% and operating margin was 33.5%. Operating activities generated $167.1M of cash. At fiscal year end, American Assets Trust held $2.92B in total assets against $1.83B in total liabilities, including $129.4M of cash and equivalents.
Open the full interactive American Assets Trust financials → Quarterly statements, key ratios, valuation history and price charts.
American Assets Trust Key Stats
| Share Price | $21.68 |
|---|---|
| Market Cap | $1.67B |
| P/E Ratio | 23.6 |
| Dividend Yield | 6.32% |
| Revenue YoY Growth | -4.7% |
| 52-Week Range | $16.94 – $25.46 |
| Shares Outstanding | 60.7 million (basic, 2026 Q2) |
American Assets Trust Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $344.6M | $375.8M | $422.6M | $441.2M | $457.9M | $436.2M |
| Cost of Goods Sold | — | — | $307.9M | $319.4M | $328.7M | $334.7M |
| Gross Profit | $223.5M | $246.1M | $270.2M | $277.2M | $290.1M | $266.6M |
| Operating Income | $88.6M | $99.9M | $114.7M | $121.7M | $129.2M | $145.9M |
| Pre-Tax Income | $27.7M | $8.9M | $10.5M | $11.5M | $9.9M | $3.9M |
| Income Tax | -$9,000 | $738,000 | $850,000 | $1.0M | $886,000 | $770,000 |
| Net Income | $27.7M | $8.1M | $9.6M | $10.5M | $9.0M | $3.1M |
| Diluted EPS | $0.46 | $0.47 | $0.72 | $0.84 | $0.94 | $0.92 |
American Assets Trust Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $109.6M | $110.1M | $110.6M | $109.5M |
| Net Income | $5.9M | -$64.0M | $6.7M | $6.8M |
| Diluted EPS | $0.07 | -$0.83 | $0.08 | $0.09 |
American Assets Trust Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $137.3M | $139.5M | $49.6M | $82.9M | $425.7M | $129.4M |
| Total Assets | $2.82B | $3.02B | $2.99B | $2.98B | $3.27B | $2.92B |
| Total Long-Term Debt | $1.31B | $1.66B | $1.62B | $1.70B | $2.02B | $1.70B |
| Total Liabilities | $1.56B | $1.81B | $1.80B | $1.83B | $2.15B | $1.83B |
| Shareholders' Equity | $1.27B | $1.24B | $1.22B | $1.20B | $1.18B | $1.15B |
American Assets Trust Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $127.0M | $168.3M | $179.1M | $188.8M | $207.1M | $167.1M |
| Cash From Investing | -$69.1M | -$312.3M | -$166.3M | -$89.9M | -$77.4M | -$30.5M |
| Cash From Financing | -$28.3M | $144.4M | -$102.7M | -$65.5M | $213.1M | -$432.9M |
| Dividends Paid | $76.5M | $88.9M | $98.2M | $101.6M | $103.4M | $105.3M |
Figures from American Assets Trust's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full American Assets Trust financials page for every line item.
American Assets Trust Company Profile
| Ticker | AAT |
|---|---|
| Exchange | NYSE |
| Industry | Real Estate Investment Trusts |
| Headquarters | San Diego, California |
| Incorporated in | Maryland |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001500217 |
Frequently Asked Questions
What was American Assets Trust's revenue in fiscal 2025?
American Assets Trust (AAT) reported revenue of $436.2M for fiscal 2025.
What is American Assets Trust's annual revenue history?
American Assets Trust's annual revenue by fiscal year: 2020: $344.6M; 2021: $375.8M; 2022: $422.6M; 2023: $441.2M; 2024: $457.9M; 2025: $436.2M.
What was American Assets Trust's net income in fiscal 2025?
American Assets Trust reported net income of $3.1M for fiscal 2025.
What was American Assets Trust's earnings per share (EPS) in fiscal 2025?
American Assets Trust's diluted EPS was $0.92 for fiscal 2025 (adjusted for any later stock splits).
What was American Assets Trust's revenue last quarter?
In its most recent reported quarter (2026 Q2), American Assets Trust reported revenue of $109.5M.
How much debt does American Assets Trust have?
American Assets Trust reported $1.70B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of American Assets Trust are outstanding?
American Assets Trust reported a weighted average of 60.7 million basic shares outstanding in 2026 Q2.
What is American Assets Trust's market cap?
Based on its latest closing price, American Assets Trust (AAT) has a market capitalization of about $1.67B.
When does American Assets Trust's fiscal year end?
American Assets Trust's fiscal year end, as registered with the SEC, is December 31.
Where is American Assets Trust headquartered?
American Assets Trust lists its business address in San Diego, California in its SEC filings.