AMERICAN ASSETS TRUST INC (AAT) Stock Fundamental Analysis

USA • New York Stock Exchange • NYSE:AAT • US0240131047

19.13 USD
+0.35 (+1.86%)
At close: Feb 5, 2026
19.13 USD
0 (0%)
After Hours: 2/5/2026, 8:08:03 PM
Fundamental Rating

3

AAT gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 124 industry peers in the Diversified REITs industry. AAT has only an average score on both its financial health and profitability. AAT has a expensive valuation and it also scores bad on growth.


Dividend Valuation Growth Profitability Health

4

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.
  • Of the past 5 years AAT 4 years were profitable.
  • AAT had a positive operating cash flow in 4 of the past 5 years.
AAT Yearly Net Income VS EBIT VS OCF VS FCFAAT Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M -400M

1.2 Ratios

  • With a decent Return On Assets value of 2.09%, AAT is doing good in the industry, outperforming 65.32% of the companies in the same industry.
  • With a decent Return On Equity value of 5.26%, AAT is doing good in the industry, outperforming 66.13% of the companies in the same industry.
  • AAT has a Return On Invested Capital (3.01%) which is comparable to the rest of the industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for AAT is in line with the industry average of 3.05%.
Industry RankSector Rank
ROA 2.09%
ROE 5.26%
ROIC 3.01%
ROA(3y)1.63%
ROA(5y)1.36%
ROE(3y)4.2%
ROE(5y)3.41%
ROIC(3y)3.22%
ROIC(5y)2.99%
AAT Yearly ROA, ROE, ROICAAT Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 1 2 3 4

1.3 Margins

  • AAT has a Profit Margin of 13.99%. This is in the better half of the industry: AAT outperforms 61.29% of its industry peers.
  • AAT's Profit Margin has been stable in the last couple of years.
  • AAT has a Operating Margin of 24.63%. This is comparable to the rest of the industry: AAT outperforms 54.84% of its industry peers.
  • AAT's Operating Margin has declined in the last couple of years.
  • AAT's Gross Margin of 61.60% is on the low side compared to the rest of the industry. AAT is outperformed by 64.52% of its industry peers.
  • In the last couple of years the Gross Margin of AAT has remained more or less at the same level.
Industry RankSector Rank
OM 24.63%
PM (TTM) 13.99%
GM 61.6%
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%
AAT Yearly Profit, Operating, Gross MarginsAAT Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60

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4

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), AAT is destroying value.
  • AAT has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
AAT Yearly Shares OutstandingAAT Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M
AAT Yearly Total Debt VS Total AssetsAAT Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

2.2 Solvency

  • AAT has an Altman-Z score of 0.54. This is a bad value and indicates that AAT is not financially healthy and even has some risk of bankruptcy.
  • AAT's Altman-Z score of 0.54 is in line compared to the rest of the industry. AAT outperforms 50.00% of its industry peers.
  • AAT has a debt to FCF ratio of 66.24. This is a negative value and a sign of low solvency as AAT would need 66.24 years to pay back of all of its debts.
  • With a decent Debt to FCF ratio value of 66.24, AAT is doing good in the industry, outperforming 69.35% of the companies in the same industry.
  • AAT has a Debt/Equity ratio of 1.44. This is a high value indicating a heavy dependency on external financing.
  • AAT's Debt to Equity ratio of 1.44 is in line compared to the rest of the industry. AAT outperforms 45.16% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.44
Debt/FCF 66.24
Altman-Z 0.54
ROIC/WACC0.51
WACC5.89%
AAT Yearly LT Debt VS Equity VS FCFAAT Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B 1.5B 2B

2.3 Liquidity

  • AAT has a Current Ratio of 1.61. This is a normal value and indicates that AAT is financially healthy and should not expect problems in meeting its short term obligations.
  • Looking at the Current ratio, with a value of 1.61, AAT is in the better half of the industry, outperforming 75.81% of the companies in the same industry.
  • AAT has a Quick Ratio of 1.61. This is a normal value and indicates that AAT is financially healthy and should not expect problems in meeting its short term obligations.
  • AAT's Quick ratio of 1.61 is fine compared to the rest of the industry. AAT outperforms 76.61% of its industry peers.
Industry RankSector Rank
Current Ratio 1.61
Quick Ratio 1.61
AAT Yearly Current Assets VS Current LiabilitesAAT Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

1

3. Growth

3.1 Past

  • The earnings per share for AAT have decreased strongly by -36.84% in the last year.
  • AAT shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 5.46% yearly.
EPS 1Y (TTM)-36.84%
EPS 3Y-6.33%
EPS 5Y5.46%
EPS Q2Q%213.33%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-2.97%

3.2 Future

  • AAT is expected to show a very negative growth in Earnings Per Share. In the coming years, the EPS will decrease by -16.92% yearly.
  • AAT is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.49% yearly.
EPS Next Y-27.62%
EPS Next 2Y-16.92%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year4.74%
Revenue Next 2Y1.49%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
AAT Yearly Revenue VS EstimatesAAT Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 100M 200M 300M 400M
AAT Yearly EPS VS EstimatesAAT Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0.2 0.4 0.6 0.8

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3

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 31.88, which means the current valuation is very expensive for AAT.
  • AAT's Price/Earnings is on the same level as the industry average.
  • The average S&P500 Price/Earnings ratio is at 27.67. AAT is around the same levels.
  • Based on the Price/Forward Earnings ratio of 44.05, the valuation of AAT can be described as expensive.
  • Based on the Price/Forward Earnings ratio, AAT is valued a bit cheaper than 65.32% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 27.20. AAT is valued rather expensively when compared to this.
Industry RankSector Rank
PE 31.88
Fwd PE 44.05
AAT Price Earnings VS Forward Price EarningsAAT Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, AAT is valued a bit cheaper than the industry average as 77.42% of the companies are valued more expensively.
  • Based on the Price/Free Cash Flow ratio, AAT is valued a bit cheaper than 70.97% of the companies in the same industry.
Industry RankSector Rank
P/FCF 45.93
EV/EBITDA 11.6
AAT Per share dataAAT EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

4.3 Compensation for Growth

  • A cheap valuation may be justified as AAT's earnings are expected to decrease with -16.92% in the coming years.
PEG (NY)N/A
PEG (5Y)5.84
EPS Next 2Y-16.92%
EPS Next 3YN/A

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. Dividend

5.1 Amount

  • AAT has a Yearly Dividend Yield of 7.24%, which is a nice return.
  • Compared to an average industry Dividend Yield of 6.98, AAT pays a bit more dividend than its industry peers.
  • AAT's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 7.24%

5.2 History

  • The dividend of AAT has a limited annual growth rate of 2.45%.
  • AAT has been paying a dividend for at least 10 years, so it has 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
AAT Yearly Dividends per shareAAT Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8 1

5.3 Sustainability

  • AAT pays out 170.43% of its income as dividend. 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.
DP170.43%
EPS Next 2Y-16.92%
EPS Next 3YN/A
AAT Yearly Income VS Free CF VS DividendAAT Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M -100M -200M -300M -400M
AAT Dividend Payout.AAT Dividend Payout, showing the Payout Ratio.AAT Dividend Payout.PayoutRetained Earnings

More info and screens

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AMERICAN ASSETS TRUST INC

NYSE:AAT (2/5/2026, 8:08:03 PM)

After market: 19.13 0 (0%)

19.13

+0.35 (+1.86%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-03
Earnings (Next)04-27
Inst Owners95.67%
Inst Owner Change-2.74%
Ins Owners1.97%
Ins Owner Change18.09%
Market Cap1.17B
Revenue(TTM)N/A
Net Income(TTM)61.48M
Analysts48
Price Target18.36 (-4.03%)
Short Float %2.48%
Short Ratio3.26
Dividend
Industry RankSector Rank
Dividend Yield 7.24%
Yearly Dividend1.69
Dividend Growth(5Y)2.45%
DP170.43%
Div Incr Years4
Div Non Decr Years4
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-16.94%
Min EPS beat(2)-22.99%
Max EPS beat(2)-10.89%
EPS beat(4)1
Avg EPS beat(4)-27.6%
Min EPS beat(4)-188.67%
Max EPS beat(4)112.16%
EPS beat(8)4
Avg EPS beat(8)-5.79%
EPS beat(12)7
Avg EPS beat(12)8.29%
EPS beat(16)10
Avg EPS beat(16)10.8%
Revenue beat(2)0
Avg Revenue beat(2)-0.84%
Min Revenue beat(2)-0.87%
Max Revenue beat(2)-0.82%
Revenue beat(4)1
Avg Revenue beat(4)-1.87%
Min Revenue beat(4)-6.2%
Max Revenue beat(4)0.39%
Revenue beat(8)4
Avg Revenue beat(8)0.57%
Revenue beat(12)7
Avg Revenue beat(12)1.04%
Revenue beat(16)11
Avg Revenue beat(16)2.14%
PT rev (1m)-7.32%
PT rev (3m)-7.32%
EPS NQ rev (1m)-20%
EPS NQ rev (3m)-20%
EPS NY rev (1m)-7.32%
EPS NY rev (3m)-7.32%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)1.38%
Revenue NY rev (1m)-0.37%
Revenue NY rev (3m)-0.6%
Valuation
Industry RankSector Rank
PE 31.88
Fwd PE 44.05
P/S 2.66
P/FCF 45.93
P/OCF 7
P/B 1
P/tB 1.01
EV/EBITDA 11.6
EPS(TTM)0.6
EY3.14%
EPS(NY)0.43
Fwd EY2.27%
FCF(TTM)0.42
FCFY2.18%
OCF(TTM)2.73
OCFY14.29%
SpS7.19
BVpS19.12
TBVpS18.91
PEG (NY)N/A
PEG (5Y)5.84
Graham Number16.07
Profitability
Industry RankSector Rank
ROA 2.09%
ROE 5.26%
ROCE 3.81%
ROIC 3.01%
ROICexc 3.16%
ROICexgc 3.23%
OM 24.63%
PM (TTM) 13.99%
GM 61.6%
FCFM 5.79%
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%
ROICexgc growth 3Y9.09%
ROICexgc 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-Score6
Asset Turnover0.15
Health
Industry RankSector Rank
Debt/Equity 1.44
Debt/FCF 66.24
Debt/EBITDA 7.2
Cap/Depr 112.48%
Cap/Sales 32.24%
Interest Coverage 1.3
Cash Conversion 71.36%
Profit Quality 41.43%
Current Ratio 1.61
Quick Ratio 1.61
Altman-Z 0.54
F-Score6
WACC5.89%
ROIC/WACC0.51
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)-36.84%
EPS 3Y-6.33%
EPS 5Y5.46%
EPS Q2Q%213.33%
EPS Next Y-27.62%
EPS Next 2Y-16.92%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-2.97%
Revenue Next Year4.74%
Revenue Next 2Y1.49%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-15.76%
EBIT growth 3Y8.95%
EBIT growth 5Y2.59%
EBIT Next Year63.6%
EBIT Next 3Y18.98%
EBIT Next 5YN/A
FCF growth 1Y-74.15%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-11.12%
OCF growth 3Y7.16%
OCF growth 5Y6.13%

AMERICAN ASSETS TRUST INC / AAT FAQ

What is the fundamental rating for AAT stock?

ChartMill assigns a fundamental rating of 3 / 10 to AAT.


What is the valuation status of AMERICAN ASSETS TRUST INC (AAT) stock?

ChartMill assigns a valuation rating of 3 / 10 to AMERICAN ASSETS TRUST INC (AAT). This can be considered as Overvalued.


What is the profitability of AAT stock?

AMERICAN ASSETS TRUST INC (AAT) has a profitability rating of 4 / 10.


Can you provide the financial health for AAT stock?

The financial health rating of AMERICAN ASSETS TRUST INC (AAT) is 4 / 10.


What is the expected EPS growth for AMERICAN ASSETS TRUST INC (AAT) stock?

The Earnings per Share (EPS) of AMERICAN ASSETS TRUST INC (AAT) is expected to decline by -27.62% in the next year.