American Assets Trust (AAT)
Owns and operates office, retail, multifamily and mixed-use properties in coastal U.S. markets.
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Collects rent and tenant-service income from office, retail, multifamily and mixed-use properties across Southern California, Northern California, Washington, Oregon, Texas and Hawaii markets. In-house leasing, property management, development and redevelopment shape performance, while occupancy, renewal activity, financing costs, tourism demand and REIT qualification remain core dependencies.
Operates office real estate, retail real estate, multifamily real estate and mixed-use real estate segments, earning rent, tenant-service income and hotel operating revenue from properties across Southern California, Northern California, Washington, Oregon, Texas and Hawaii.
Runs as a vertically integrated, self-administered REIT with in-house leasing, property management, asset management, development, construction, acquisitions, repositioning, redevelopment and financing capabilities. Portfolio work centers on premier locations, occupancy, retenanting, renovation and redevelopment.
Business results depend on tenant demand and renewals, local office and retail leasing conditions, apartment occupancy, tourism demand at the mixed-use hotel, development execution, acquisition pricing, capital availability, interest rates, REIT qualification and property-level operating costs.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Mar 26, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $17 | Target: $18 |
| Jan 16, 2026 | Morgan Stanley | Target | Target: $24 | Target: $17 |
| Jan 9, 2026 | Mizuho Securities | Target | Target: $30 | Target: $19 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $109.7M · Total debt $1.72B · Total assets $2.89B · Shareholders' equity $1.12B
- Revenue
- $109.5M
- Operating income
- $26.3M
- Net income
- $5.4M
HistoryDividendAnnual yield
| Institutions | 95.47% | 58.62M shares | |
|---|---|---|---|
| 245 holders · as of Jun 30, 2026 | |||
| Insiders | 48.92% | 30.04M shares | |
| 9 holders · as of Sep 16, 2026 | |||
| Adds to | 144.39% | ||
61.40M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 144.39%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Ernest S. Rady1Insiderdirector, 10 percent owner, officer: Executive Chairman | 47.67% | 28.95M | filed Sep 16, 2026 |
BlackRock, Inc.Institution | 14.92% | 9.16M | as of Jun 30, 2026 |
American Assets IncInstitution | 12.01% | 7.37M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 8.91% | 5.47M | as of Jun 30, 2026 |
State Street CorpInstitution | 4.56% | 2.80M | as of Jun 30, 2026 |
- Ernest S. Rady's transaction reports restate only vehicles that traded; the 2026 ownership statement (28.95M) plus the 316.6K net shares acquired since is used instead.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 14, 2026 | Ernest S. Rady | director, 10 percent owner, officer: Executive Chairman | +50,000 | $21.65 |
| Sep 2, 2026 | Ernest S. Rady | director, 10 percent owner, officer: Executive Chairman | +96,636 | $22.50 |
| Sep 1, 2026 | Ernest S. Rady | director, 10 percent owner, officer: Executive Chairman | +50,000 | $22.40 |
| Aug 31, 2026 | Ernest S. Rady | director, 10 percent owner, officer: Executive Chairman | +20,000 | $22.33 |
| Aug 28, 2026 | Ernest S. Rady | director, 10 percent owner, officer: Executive Chairman | +50,000 | $22.52 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| American Assets Trust | $22.04 | +0.27% | $1.35B | 81.6 | 56.5 | 3.1 | +1.4% |
| Kilroy Realty | $34.50 | −0.27% | $4.02B | 24.2 | 82.0 | 3.7 | −6.0% |
| Hudson Pacific Properties | $12.05 | −1.75% | $665.0M | — | — | 0.8 | −0.9% |
| Regency Centers | $73.31 | +0.53% | $13.32B | 20.7 | 29.0 | 7.7 | +5.7% |
| Essex Property Trust | $274.66 | +1.20% | $17.44B | 42.2 | 45.5 | 9.1 | +4.1% |
| Kimco Realty | $22.55 | +0.02% | $15.19B | 25.3 | 26.4 | 6.9 | +4.9% |
| BXP | $63.62 | −0.80% | $10.23B | 34.5 | 31.0 | 2.9 | +3.1% |
| Federal Realty | $110.81 | +0.16% | $9.56B | 22.0 | 35.1 | 7.2 | +7.7% |
| Median | 24.7 | 33.0 | 6.9 | +4.1% |