AMERICAN ASSETS TRUST INC (AAT) Stock Fundamental Analysis
USA - NYSE:AAT - US0240131047 - REIT
20.86 USD
+0.28 (+1.36%)
AAT gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 130 industry peers in the Diversified REITs industry. While AAT is still in line with the averages on profitability rating, there are concerns on its financial health. AAT does not seem to be growing, but still is valued expensively.
1. Profitability
1.1 Basic Checks
AAT had positive earnings in the past year.
In the past year AAT had a positive cash flow from operations.
In the past 5 years AAT has always been profitable.
Each year in the past 5 years AAT had a positive operating cash flow.
1.2 Ratios
AAT's Return On Assets of 2.49% is fine compared to the rest of the industry. AAT outperforms 70.77% of its industry peers.
Looking at the Return On Equity, with a value of 6.22%, AAT is in the better half of the industry, outperforming 74.62% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 3.35%, AAT is in the better half of the industry, outperforming 64.62% of the companies in the same industry.
AAT had an Average Return On Invested Capital over the past 3 years of 3.22%. This is in line with the industry average of 3.05%.
The last Return On Invested Capital (3.35%) for AAT is above the 3 year average (3.22%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.49% | ||
| ROE | 6.22% | ||
| ROIC | 3.35% |
ROA(3y)1.63%
ROA(5y)1.36%
ROE(3y)4.2%
ROE(5y)3.41%
ROIC(3y)3.22%
ROIC(5y)2.99%
1.3 Margins
With a decent Profit Margin value of 16.26%, AAT is doing good in the industry, outperforming 66.92% of the companies in the same industry.
In the last couple of years the Profit Margin of AAT has remained more or less at the same level.
Looking at the Operating Margin, with a value of 26.79%, AAT is in line with its industry, outperforming 60.00% of the companies in the same industry.
In the last couple of years the Operating Margin of AAT has declined.
The Gross Margin of AAT (62.92%) is worse than 63.08% of its industry peers.
AAT's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 26.79% | ||
| PM (TTM) | 16.26% | ||
| GM | 62.92% |
OM growth 3Y2.01%
OM growth 5Y-1.87%
PM growth 3Y17.96%
PM growth 5Y-0.09%
GM growth 3Y-1.09%
GM growth 5Y-0.21%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so AAT is destroying value.
Compared to 1 year ago, AAT has more shares outstanding
AAT has more shares outstanding than it did 5 years ago.
The debt/assets ratio for AAT is higher compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 0.60, we must say that AAT is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of AAT (0.60) is comparable to the rest of the industry.
The Debt to FCF ratio of AAT is 55.56, which is on the high side as it means it would take AAT, 55.56 years of fcf income to pay off all of its debts.
AAT's Debt to FCF ratio of 55.56 is fine compared to the rest of the industry. AAT outperforms 61.54% of its industry peers.
A Debt/Equity ratio of 1.42 is on the high side and indicates that AAT has dependencies on debt financing.
AAT has a Debt to Equity ratio (1.42) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.42 | ||
| Debt/FCF | 55.56 | ||
| Altman-Z | 0.6 |
ROIC/WACC0.55
WACC6.08%
2.3 Liquidity
AAT has a Current Ratio of 1.70. This is a normal value and indicates that AAT is financially healthy and should not expect problems in meeting its short term obligations.
With a decent Current ratio value of 1.70, AAT is doing good in the industry, outperforming 73.08% of the companies in the same industry.
A Quick Ratio of 1.70 indicates that AAT should not have too much problems paying its short term obligations.
AAT has a better Quick ratio (1.70) than 73.08% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.7 | ||
| Quick Ratio | 1.7 |
3. Growth
3.1 Past
The earnings per share for AAT have decreased strongly by -44.94% in the last year.
AAT shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 2.01% yearly.
Looking at the last year, AAT shows a small growth in Revenue. The Revenue has grown by 1.69% in the last year.
Measured over the past years, AAT shows a small growth in Revenue. The Revenue has been growing by 4.54% on average per year.
EPS 1Y (TTM)-44.94%
EPS 3Y31.27%
EPS 5Y2.01%
EPS Q2Q%-55%
Revenue 1Y (TTM)1.69%
Revenue growth 3Y6.8%
Revenue growth 5Y4.54%
Sales Q2Q%-2.67%
3.2 Future
Based on estimates for the next years, AAT will show a very negative growth in Earnings Per Share. The EPS will decrease by -23.57% on average per year.
The Revenue is expected to grow by 0.12% on average over the next years.
EPS Next Y-56.41%
EPS Next 2Y-30.07%
EPS Next 3Y-23.57%
EPS Next 5YN/A
Revenue Next Year-3.64%
Revenue Next 2Y0.12%
Revenue Next 3Y0.12%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 42.57, which means the current valuation is very expensive for AAT.
AAT's Price/Earnings is on the same level as the industry average.
When comparing the Price/Earnings ratio of AAT to the average of the S&P500 Index (27.20), we can say AAT is valued expensively.
With a Price/Forward Earnings ratio of 44.90, AAT can be considered very expensive at the moment.
Based on the Price/Forward Earnings ratio, AAT is valued a bit cheaper than 62.31% of the companies in the same industry.
AAT's Price/Forward Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 22.70.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 42.57 | ||
| Fwd PE | 44.9 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of AAT indicates a somewhat cheap valuation: AAT is cheaper than 76.92% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, AAT is valued a bit cheaper than the industry average as 65.38% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 42.02 | ||
| EV/EBITDA | 11.26 |
4.3 Compensation for Growth
AAT has a very decent profitability rating, which may justify a higher PE ratio.
AAT's earnings are expected to decrease with -23.57% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)21.17
EPS Next 2Y-30.07%
EPS Next 3Y-23.57%
5. Dividend
5.1 Amount
AAT has a Yearly Dividend Yield of 6.51%, which is a nice return.
AAT's Dividend Yield is a higher than the industry average which is at 6.66.
AAT's Dividend Yield is rather good when compared to the S&P500 average which is at 2.38.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.51% |
5.2 History
The dividend of AAT has a limited annual growth rate of 2.45%.
AAT has paid a dividend for at least 10 years, which is a reliable track record.
AAT has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)2.45%
Div Incr Years4
Div Non Decr Years4
5.3 Sustainability
141.67% of the earnings are spent on dividend by AAT. This is not a sustainable payout ratio.
The Dividend Rate of AAT has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP141.67%
EPS Next 2Y-30.07%
EPS Next 3Y-23.57%
NYSE:AAT (9/18/2025, 11:07:45 AM)
20.86
+0.28 (+1.36%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners94.04%
Inst Owner Change-0.28%
Ins Owners1.55%
Ins Owner Change1.77%
Market Cap1.28B
Analysts48
Price Target20.91 (0.24%)
Short Float %1.6%
Short Ratio2.62
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.51% |
Yearly Dividend1.69
Dividend Growth(5Y)2.45%
DP141.67%
Div Incr Years4
Div Non Decr Years4
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-99.78%
Min EPS beat(2)-188.67%
Max EPS beat(2)-10.89%
EPS beat(4)1
Avg EPS beat(4)-22.95%
Min EPS beat(4)-188.67%
Max EPS beat(4)112.16%
EPS beat(8)5
Avg EPS beat(8)0.06%
EPS beat(12)8
Avg EPS beat(12)13.05%
EPS beat(16)10
Avg EPS beat(16)11.99%
Revenue beat(2)0
Avg Revenue beat(2)-3.51%
Min Revenue beat(2)-6.2%
Max Revenue beat(2)-0.82%
Revenue beat(4)2
Avg Revenue beat(4)0.64%
Min Revenue beat(4)-6.2%
Max Revenue beat(4)9.19%
Revenue beat(8)5
Avg Revenue beat(8)1.06%
Revenue beat(12)8
Avg Revenue beat(12)1.73%
Revenue beat(16)12
Avg Revenue beat(16)2.41%
PT rev (1m)-2.38%
PT rev (3m)-2.38%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-10%
EPS NY rev (1m)10.81%
EPS NY rev (3m)28.13%
Revenue NQ rev (1m)0.64%
Revenue NQ rev (3m)-6.68%
Revenue NY rev (1m)0.19%
Revenue NY rev (3m)-6.3%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 42.57 | ||
| Fwd PE | 44.9 | ||
| P/S | 2.82 | ||
| P/FCF | 42.02 | ||
| P/OCF | 7.12 | ||
| P/B | 1.08 | ||
| P/tB | 1.09 | ||
| EV/EBITDA | 11.26 |
EPS(TTM)0.49
EY2.35%
EPS(NY)0.46
Fwd EY2.23%
FCF(TTM)0.5
FCFY2.38%
OCF(TTM)2.93
OCFY14.04%
SpS7.4
BVpS19.36
TBVpS19.13
PEG (NY)N/A
PEG (5Y)21.17
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.49% | ||
| ROE | 6.22% | ||
| ROCE | 4.24% | ||
| ROIC | 3.35% | ||
| ROICexc | 3.53% | ||
| ROICexgc | 3.6% | ||
| OM | 26.79% | ||
| PM (TTM) | 16.26% | ||
| GM | 62.92% | ||
| FCFM | 6.7% |
ROA(3y)1.63%
ROA(5y)1.36%
ROE(3y)4.2%
ROE(5y)3.41%
ROIC(3y)3.22%
ROIC(5y)2.99%
ROICexc(3y)3.44%
ROICexc(5y)3.17%
ROICexgc(3y)3.52%
ROICexgc(5y)3.25%
ROCE(3y)4.08%
ROCE(5y)3.79%
ROICexcg growth 3Y9.09%
ROICexcg growth 5Y1.31%
ROICexc growth 3Y9.26%
ROICexc growth 5Y1.53%
OM growth 3Y2.01%
OM growth 5Y-1.87%
PM growth 3Y17.96%
PM growth 5Y-0.09%
GM growth 3Y-1.09%
GM growth 5Y-0.21%
F-Score7
Asset Turnover0.15
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.42 | ||
| Debt/FCF | 55.56 | ||
| Debt/EBITDA | 6.78 | ||
| Cap/Depr | 116.64% | ||
| Cap/Sales | 32.85% | ||
| Interest Coverage | 1.65 | ||
| Cash Conversion | 71.97% | ||
| Profit Quality | 41.23% | ||
| Current Ratio | 1.7 | ||
| Quick Ratio | 1.7 | ||
| Altman-Z | 0.6 |
F-Score7
WACC6.08%
ROIC/WACC0.55
Cap/Depr(3y)84.76%
Cap/Depr(5y)115.74%
Cap/Sales(3y)23.91%
Cap/Sales(5y)34.48%
Profit Quality(3y)165.81%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-44.94%
EPS 3Y31.27%
EPS 5Y2.01%
EPS Q2Q%-55%
EPS Next Y-56.41%
EPS Next 2Y-30.07%
EPS Next 3Y-23.57%
EPS Next 5YN/A
Revenue 1Y (TTM)1.69%
Revenue growth 3Y6.8%
Revenue growth 5Y4.54%
Sales Q2Q%-2.67%
Revenue Next Year-3.64%
Revenue Next 2Y0.12%
Revenue Next 3Y0.12%
Revenue Next 5YN/A
EBIT growth 1Y-0.42%
EBIT growth 3Y8.95%
EBIT growth 5Y2.59%
EBIT Next Year62.2%
EBIT Next 3Y18.92%
EBIT Next 5YN/A
FCF growth 1Y-68.38%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-6.29%
OCF growth 3Y7.16%
OCF growth 5Y6.13%