Earnings summaries and quarterly performance for American Assets Trust.
Executive leadership at American Assets Trust.
Board of directors at American Assets Trust.
Research analysts who have asked questions during American Assets Trust earnings calls.
Todd Thomas
KeyBanc Capital Markets
4 questions for AAT
Also covers: AKR, BRX, CBL +20 more
Dylan Burzinski
Green Street Advisors, LLC
3 questions for AAT
Also covers: ALX, ARE, BDN +11 more
HS
Haendel St. Juste
Mizuho Financial Group
3 questions for AAT
Also covers: ADC, AIV, AMH +21 more
RV
Ravi Vaidya
Mizuho
3 questions for AAT
Also covers: CUBE, EXR, FRT +9 more
AP
Anthony Peak
KeyBanc Capital Markets
2 questions for AAT
Also covers: EXR, LXP
Reynolds Pire
Green Street Advisors, LLC
2 questions for AAT
AN
Antara Nag-Chaudhuri
KeyBanc Capital Markets
1 question for AAT
Also covers: SKT
M
Matt
Western Standard
1 question for AAT
Also covers: ABEO, CWCO, EMN +4 more
ML
Matt Lichtman
Morgan Stanley
1 question for AAT
RK
Ronald Kamdem
Morgan Stanley
1 question for AAT
Also covers: ADC, AHR, ALX +37 more
Recent press releases and 8-K filings for AAT.
American Assets Trust Reports Q4 and Full Year 2025 Results, Provides 2026 Outlook
AAT
Earnings
Guidance Update
Dividends
- American Assets Trust (AAT) reported Q4 2025 FFO per share of $0.47 and full year 2025 FFO per share of $2.00, which was approximately 3% above initial expectations.
- For the full year 2025, same-store cash Net Operating Income (NOI) increased by 0.5% compared to 2024, with office increasing 2.3% and retail increasing 1.2%, while multifamily declined 3.2% and mixed-use declined 6.7%.
- The office portfolio ended Q4 2025 83% leased, with a target to reach 86%-88% leased by year-end 2026. Full year 2025 office leasing spreads were 6.4% cash and 14% GAAP.
- The company declared a quarterly dividend of $0.34 per share for Q1 2026, payable on March 19th to stockholders of record on March 5th, and expects to maintain the dividend at current levels.
- For 2026, AAT anticipates FFO guidance at the midpoint to be 1.5% above 2025 and portfolio-wide same-store NOI growth (excluding reserves) of over 2%.
1 day ago
American Assets Trust, Inc. Announces Q4 and Full Year 2025 Results
AAT
Earnings
Guidance Update
Dividends
- American Assets Trust, Inc. reported net income attributable to stockholders of $3,148 thousand for Q4 2025, a decrease from $8,977 thousand in Q4 2024. For the full year 2025, net income attributable to stockholders was $55,648 thousand.
- Diluted Funds From Operations (FFO) per share/unit was $0.47 for Q4 2025, down from $0.55 in Q4 2024, and $2.00 for the full year 2025, compared to $2.58 in FY 2024.
- Total revenue for Q4 2025 was $110,086 thousand, a decrease from $113,460 thousand in Q4 2024. For the full year 2025, total revenue was $436,204 thousand.
- The company declared and paid dividends of $0.340 per share/unit for Q4 2025 and $1.360 per share/unit for the full year 2025.
- American Assets Trust, Inc. provided 2026 FFO per diluted share guidance in the range of $1.96 to $2.10.
1 day ago
American Assets Trust Reports Q4 and Full Year 2025 Results, Issues 2026 Guidance
AAT
Earnings
Guidance Update
Dividends
- American Assets Trust reported full-year 2025 FFO per share of $2.00, approximately 3% above initial expectations, and Q4 2025 FFO per share of $0.47.
- For the full year ended 2025, same-store cash NOI increased by 0.5% compared with 2024, with office increasing 2.3% and retail increasing 1.2%, while multifamily declined 3.2% and mixed-use declined 6.7%.
- The company introduced 2026 FFO per share guidance of $1.96-$2.10, with a midpoint of $2.03, representing a 1%-1.5% increase over 2025 actual FFO.
- 2026 same-store cash NOI for all segments combined (excluding reserves) is expected to increase by 2.2%, with office projected to increase 3.3%, retail 1.7%, and multifamily 2.2%, while mixed-use is expected to decrease 3.3%.
- A quarterly dividend of $0.34 per share was declared for the first quarter, payable on March 19th to stockholders of record on March 5th, with the 2026 dividend payout ratio expected to be approximately 89%.
1 day ago
AAT Reports Q4 and Full Year 2025 Results, Issues 2026 Guidance
AAT
Earnings
Guidance Update
New Projects/Investments
- AAT reported full-year 2025 FFO per share of $2.00, approximately 3% above initial expectations, and net income attributable to common shareholders of $0.92 per share.
- For the full year 2025, same-store cash NOI increased by 0.5%, primarily driven by office (up 2.3%) and retail (up 1.2%), which offset declines in multifamily and mixed-use segments.
- The company introduced 2026 FFO per share guidance of $1.96 to $2.10, with a midpoint of $2.03, reflecting a 1%-1.5% increase over 2025 actual FFO.
- Portfolio-wide same-store NOI growth for 2026, excluding reserves, is projected to be over 2%, with office expected to increase by approximately 3.3% and retail by 1.7%.
- The office portfolio ended Q4 2025 83% leased and is targeting 86%-88% leased by the end of 2026, while the retail portfolio ended 2025 98% leased.
1 day ago
American Assets Trust, Inc. Reports Q4 and Full Year 2025 Financial Results
AAT
Earnings
Guidance Update
Dividends
- American Assets Trust, Inc. reported FFO per diluted share of $0.47 for the fourth quarter of 2025 and $2.00 for the full year 2025, compared to $0.55 and $2.58 for the same periods in 2024, respectively. Net income available to common stockholders was $0.05 per diluted share for Q4 2025 and $0.92 per diluted share for FY 2025.
- The company introduced its 2026 annual guidance for FFO per diluted share with a midpoint of $2.03, ranging from $1.96 to $2.10.
- Same-store cash Net Operating Income (NOI) remained flat for the three months ended December 31, 2025, and increased 0.5% for the year ended December 31, 2025, compared to the prior year periods.
- As of December 31, 2025, the company had $529.4 million in liquidity, comprising $129.4 million in cash and $400.0 million of availability on its line of credit. The company declared a dividend of $0.340 per share for the fourth quarter of 2025 and for the first quarter of 2026.
2 days ago
American Assets Trust Reports Q4 and Full Year 2025 Financial Results
AAT
Earnings
Guidance Update
- Net income available to common stockholders was $3.1 million ($0.05 per diluted share) for the three months ended December 31, 2025, and $55.6 million ($0.92 per diluted share) for the year ended December 31, 2025.
- Funds From Operations (FFO) per diluted share was $0.47 for the three months ended December 31, 2025, and $2.00 for the year ended December 31, 2025, compared to $0.55 and $2.58 for the same periods in 2024, respectively.
- Same-store cash Net Operating Income (NOI) remained flat for the three months ended December 31, 2025, and increased 0.5% year-over-year for the year ended December 31, 2025.
- The company introduced 2026 annual guidance for FFO per diluted share with a midpoint of $2.03, within a range of $1.96 to $2.10.
2 days ago
Adamas Trust, Inc. Reports Third Quarter 2025 Results
AAT
Earnings
Dividends
New Projects/Investments
- Adamas Trust, Inc. reported net income attributable to common stockholders of $32.7 million, or $0.36 per basic common share, and Earnings Available for Distribution (EAD) of $22.0 million, or $0.24 per common share, for the third quarter ended September 30, 2025.
- The company increased its common stock dividend declared in September 2025 to $0.23 per common share.
- Investment activities for the quarter included the acquisition of approximately $1.8 billion of Agency investments and $525.7 million in residential loans, which the CEO noted as the highest level of quarterly investment activity since inception.
- Financing activities included the issuance of $115.0 million in aggregate principal amount of 9.875% Senior Notes and two residential loan securitizations that generated approximately $619.2 million in net proceeds.
- Book value per common share stood at $9.20 as of September 30, 2025.
Oct 29, 2025, 7:51 PM
American Assets Trust Reports Q3 2025 Earnings and Raises Full-Year FFO Guidance
AAT
Earnings
Guidance Update
Dividends
- American Assets Trust reported Funds From Operations (FFO) of $0.49 per diluted share and net income of $0.07 per diluted share for Q3 2025, with total revenue reaching $110 million.
- The company raised its full-year 2025 FFO guidance to a range of $1.93-$2.01 per share, with a midpoint of $1.97, representing a $0.02 increase from previous guidance.
- Portfolio-wide same-store Net Operating Income (NOI) decreased by 0.8% in Q3 2025 compared to Q3 2024, with Office NOI increasing by 3.6% but Retail, Multifamily, and Mixed-use NOIs declining.
- The Office portfolio ended the quarter 82% leased, completing approximately 180,000 sq ft of leasing with comparable cash rent spreads increasing 9%; the Retail portfolio was 98% leased with cash rent spreads increasing over 4%.
- The Board approved a quarterly dividend of $0.34 per share for Q4 2025, payable on December 18 to shareholders of record as of December 4.
Oct 29, 2025, 3:00 PM
American Assets Trust Reports Q3 2025 Results and Raises Full-Year FFO Guidance
AAT
Earnings
Guidance Update
Dividends
- American Assets Trust reported Funds From Operations (FFO) of $0.49 per diluted share and net income attributable to common stockholders of $0.07 per diluted share for Q3 2025, with total revenue at $110 million.
- The company raised its full-year 2025 FFO guidance range to $1.93 to $2.01 per share, with a midpoint of $1.97 per share, an increase of $0.02 from prior guidance.
- Portfolio-wide same-store cash Net Operating Income (NOI) decreased by 0.8% in Q3 2025 compared to the same period in 2024, with office NOI increasing by 3.6%, while retail, multifamily, and mixed-use NOIs declined by 2.6%, 8.3%, and 10%, respectively.
- The office portfolio ended the quarter 82% leased, with 180,000 square feet of office leasing completed and comparable rent spreads increasing 9% on a cash basis. The retail portfolio was 98% leased, with spreads increasing over 4% on a cash basis.
- The Board approved a quarterly dividend of $0.34 per share for Q4, payable on December 18, 2025. The company's net debt to EBITDA ratio was 6.7 times on a trailing 12-month basis, with a long-term target of 5.5 times or lower.
Oct 29, 2025, 3:00 PM
American Assets Trust Reports Q3 2025 Results and Raises Full-Year FFO Guidance
AAT
Earnings
Guidance Update
Dividends
- American Assets Trust reported Funds From Operations (FFO) of $0.49 per diluted share and net income of $0.07 per diluted share for Q3 2025, with total revenue reaching $110 million.
- The company raised its full-year 2025 FFO guidance to a range of $1.93 to $2.01 per share, with a midpoint of $1.97 per share, an increase of $0.02 from prior guidance.
- Portfolio-wide same-store cash Net Operating Income (NOI) decreased by 0.8% in Q3 2025 compared to Q3 2024, although office same-store NOI increased by 3.6%.
- The board approved a quarterly dividend of $0.34 per share for Q4, and the company maintained total liquidity of approximately $539 million, with a net debt to EBITDA ratio of 6.7 times on a trailing 12-month basis.
Oct 29, 2025, 3:00 PM
Quarterly earnings call transcripts for American Assets Trust.
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