AMERICAN ASSETS TRUST INC (AAT) Fundamental Analysis & Valuation
NYSE:AAT • US0240131047
19.09 USD
-0.51 (-2.6%)
At close: Mar 6, 2026
19.09 USD
0 (0%)
After Hours: 3/6/2026, 8:04:00 PM
This AAT fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
Taking everything into account, AAT scores 4 out of 10 in our fundamental rating. AAT was compared to 122 industry peers in the Diversified REITs industry. AAT has an average financial health and profitability rating. AAT has a valuation in line with the averages, but on the other hand it scores bad on growth. Finally AAT also has an excellent dividend rating.
1. AAT Profitability Analysis
1.1 Basic Checks
- In the past year AAT was profitable.
- In the past year AAT had a positive cash flow from operations.
- Each year in the past 5 years AAT has been profitable.
- Each year in the past 5 years AAT had a positive operating cash flow.
1.2 Ratios
- AAT has a Return On Assets of 1.90%. This is in the better half of the industry: AAT outperforms 60.66% of its industry peers.
- With a decent Return On Equity value of 4.84%, AAT is doing good in the industry, outperforming 60.66% of the companies in the same industry.
- AAT has a Return On Invested Capital (2.84%) which is in line with its industry peers.
- Measured over the past 3 years, the Average Return On Invested Capital for AAT is in line with the industry average of 3.10%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.9% | ||
| ROE | 4.84% | ||
| ROIC | 2.84% |
ROA(3y)1.78%
ROA(5y)1.54%
ROE(3y)4.62%
ROE(5y)3.95%
ROIC(3y)3.13%
ROIC(5y)3.04%
1.3 Margins
- AAT has a better Profit Margin (12.76%) than 60.66% of its industry peers.
- AAT's Profit Margin has improved in the last couple of years.
- Looking at the Operating Margin, with a value of 23.26%, AAT is in line with its industry, outperforming 51.64% of the companies in the same industry.
- In the last couple of years the Operating Margin of AAT has declined.
- AAT has a Gross Margin of 61.12%. This is in the lower half of the industry: AAT underperforms 65.57% of its industry peers.
- AAT's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 23.26% | ||
| PM (TTM) | 12.76% | ||
| GM | 61.12% |
OM growth 3Y-5.02%
OM growth 5Y-1.98%
PM growth 3Y7.42%
PM growth 5Y9.68%
GM growth 3Y-1.49%
GM growth 5Y-1.18%
2. AAT Health Analysis
2.1 Basic Checks
- With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), AAT is destroying value.
- The number of shares outstanding for AAT has been increased compared to 1 year ago.
- Compared to 5 years ago, AAT has more shares outstanding
- Compared to 1 year ago, AAT has an improved debt to assets ratio.
2.2 Solvency
- AAT has an Altman-Z score of 0.53. This is a bad value and indicates that AAT is not financially healthy and even has some risk of bankruptcy.
- Looking at the Altman-Z score, with a value of 0.53, AAT is in line with its industry, outperforming 50.82% of the companies in the same industry.
- The Debt to FCF ratio of AAT is 62.55, which is on the high side as it means it would take AAT, 62.55 years of fcf income to pay off all of its debts.
- The Debt to FCF ratio of AAT (62.55) is better than 68.03% of its industry peers.
- A Debt/Equity ratio of 1.47 is on the high side and indicates that AAT has dependencies on debt financing.
- AAT has a Debt to Equity ratio (1.47) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.47 | ||
| Debt/FCF | 62.55 | ||
| Altman-Z | 0.53 |
ROIC/WACC0.46
WACC6.16%
2.3 Liquidity
- A Current Ratio of 1.48 indicates that AAT should not have too much problems paying its short term obligations.
- AAT has a better Current ratio (1.48) than 77.87% of its industry peers.
- A Quick Ratio of 1.48 indicates that AAT should not have too much problems paying its short term obligations.
- AAT has a Quick ratio of 1.48. This is in the better half of the industry: AAT outperforms 78.69% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.48 | ||
| Quick Ratio | 1.48 |
3. AAT Growth Analysis
3.1 Past
- The earnings per share for AAT have decreased strongly by -81.05% in the last year.
- Measured over the past years, AAT shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -17.11% on average per year.
- The Revenue has decreased by -4.73% in the past year.
- The Revenue has been growing slightly by 4.83% on average over the past years.
EPS 1Y (TTM)-81.05%
EPS 3Y-37.29%
EPS 5Y-17.11%
EPS Q2Q%-66.67%
Revenue 1Y (TTM)-4.73%
Revenue growth 3Y1.06%
Revenue growth 5Y4.83%
Sales Q2Q%-2.97%
3.2 Future
- AAT is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 51.68% yearly.
- Based on estimates for the next years, AAT will show a small growth in Revenue. The Revenue will grow by 1.51% on average per year.
EPS Next Y141.28%
EPS Next 2Y51.68%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year3.45%
Revenue Next 2Y1.51%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
- The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
- The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. AAT Valuation Analysis
4.1 Price/Earnings Ratio
- The Price/Earnings ratio is 106.06, which means the current valuation is very expensive for AAT.
- AAT's Price/Earnings ratio is in line with the industry average.
- When comparing the Price/Earnings ratio of AAT to the average of the S&P500 Index (26.29), we can say AAT is valued expensively.
- Based on the Price/Forward Earnings ratio of 43.96, the valuation of AAT can be described as expensive.
- 65.57% of the companies in the same industry are more expensive than AAT, based on the Price/Forward Earnings ratio.
- The average S&P500 Price/Forward Earnings ratio is at 24.57. AAT is valued rather expensively when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 106.06 | ||
| Fwd PE | 43.96 |
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 72.95% of the companies listed in the same industry.
- 71.31% of the companies in the same industry are more expensive than AAT, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 43.44 | ||
| EV/EBITDA | 12.07 |
4.3 Compensation for Growth
- AAT's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
- A more expensive valuation may be justified as AAT's earnings are expected to grow with 51.68% in the coming years.
PEG (NY)0.75
PEG (5Y)N/A
EPS Next 2Y51.68%
EPS Next 3YN/A
5. AAT Dividend Analysis
5.1 Amount
- AAT has a Yearly Dividend Yield of 6.78%, which is a nice return.
- Compared to an average industry Dividend Yield of 7.04, 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 Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.78% |
5.2 History
- On average, the dividend of AAT grows each year by 6.25%, which is quite nice.
- 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)6.25%
Div Incr Years4
Div Non Decr Years4
5.3 Sustainability
- AAT pays out 189.14% of its income as dividend. This is not a sustainable payout ratio.
- The dividend of AAT is growing, but earnings are growing more, so the dividend growth is sustainable.
DP189.14%
EPS Next 2Y51.68%
EPS Next 3YN/A
AAT Fundamentals: All Metrics, Ratios and Statistics
19.09
-0.51 (-2.6%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-03 2026-02-03/amc
Earnings (Next)04-27 2026-04-27
Inst Owners95.67%
Inst Owner Change-0.37%
Ins Owners1.97%
Ins Owner Change18.81%
Market Cap1.17B
Revenue(TTM)436.20M
Net Income(TTM)55.65M
Analysts46
Price Target18.36 (-3.82%)
Short Float %2.51%
Short Ratio3.05
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.78% |
Yearly Dividend1.72
Dividend Growth(5Y)6.25%
DP189.14%
Div Incr Years4
Div Non Decr Years4
Ex-Date03-05 2026-03-05 (0.34)
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-30.56%
Min EPS beat(2)-38.12%
Max EPS beat(2)-22.99%
EPS beat(4)0
Avg EPS beat(4)-65.17%
Min EPS beat(4)-188.67%
Max EPS beat(4)-10.89%
EPS beat(8)3
Avg EPS beat(8)-11.2%
EPS beat(12)7
Avg EPS beat(12)5.19%
EPS beat(16)9
Avg EPS beat(16)7.44%
Revenue beat(2)0
Avg Revenue beat(2)-2.03%
Min Revenue beat(2)-3.2%
Max Revenue beat(2)-0.87%
Revenue beat(4)0
Avg Revenue beat(4)-2.77%
Min Revenue beat(4)-6.2%
Max Revenue beat(4)-0.82%
Revenue beat(8)3
Avg Revenue beat(8)-0.19%
Revenue beat(12)7
Avg Revenue beat(12)0.91%
Revenue beat(16)10
Avg Revenue beat(16)1.38%
PT rev (1m)-5.26%
PT rev (3m)-12.2%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)-6.52%
Revenue NQ rev (1m)-4.27%
Revenue NQ rev (3m)-1.89%
Revenue NY rev (1m)-1.24%
Revenue NY rev (3m)-0.98%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 106.06 | ||
| Fwd PE | 43.96 | ||
| P/S | 2.69 | ||
| P/FCF | 43.44 | ||
| P/OCF | 7.01 | ||
| P/B | 1.02 | ||
| P/tB | 1.03 | ||
| EV/EBITDA | 12.07 |
EPS(TTM)0.18
EY0.94%
EPS(NY)0.43
Fwd EY2.28%
FCF(TTM)0.44
FCFY2.3%
OCF(TTM)2.72
OCFY14.26%
SpS7.11
BVpS18.75
TBVpS18.56
PEG (NY)0.75
PEG (5Y)N/A
Graham Number8.71
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.9% | ||
| ROE | 4.84% | ||
| ROCE | 3.6% | ||
| ROIC | 2.84% | ||
| ROICexc | 2.98% | ||
| ROICexgc | 3.04% | ||
| OM | 23.26% | ||
| PM (TTM) | 12.76% | ||
| GM | 61.12% | ||
| FCFM | 6.19% |
ROA(3y)1.78%
ROA(5y)1.54%
ROE(3y)4.62%
ROE(5y)3.95%
ROIC(3y)3.13%
ROIC(5y)3.04%
ROICexc(3y)3.37%
ROICexc(5y)3.23%
ROICexgc(3y)3.44%
ROICexgc(5y)3.3%
ROCE(3y)3.96%
ROCE(5y)3.85%
ROICexgc growth 3Y-2.55%
ROICexgc growth 5Y1.76%
ROICexc growth 3Y-2.3%
ROICexc growth 5Y1.91%
OM growth 3Y-5.02%
OM growth 5Y-1.98%
PM growth 3Y7.42%
PM growth 5Y9.68%
GM growth 3Y-1.49%
GM growth 5Y-1.18%
F-Score6
Asset Turnover0.15
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.47 | ||
| Debt/FCF | 62.55 | ||
| Debt/EBITDA | 7.38 | ||
| Cap/Depr | 110.07% | ||
| Cap/Sales | 32.13% | ||
| Interest Coverage | 1.28 | ||
| Cash Conversion | 73.05% | ||
| Profit Quality | 48.49% | ||
| Current Ratio | 1.48 | ||
| Quick Ratio | 1.48 | ||
| Altman-Z | 0.53 |
F-Score6
WACC6.16%
ROIC/WACC0.46
Cap/Depr(3y)78.49%
Cap/Depr(5y)126.02%
Cap/Sales(3y)22.09%
Cap/Sales(5y)37.22%
Profit Quality(3y)166.49%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-81.05%
EPS 3Y-37.29%
EPS 5Y-17.11%
EPS Q2Q%-66.67%
EPS Next Y141.28%
EPS Next 2Y51.68%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-4.73%
Revenue growth 3Y1.06%
Revenue growth 5Y4.83%
Sales Q2Q%-2.97%
Revenue Next Year3.45%
Revenue Next 2Y1.51%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-21.47%
EBIT growth 3Y-4.01%
EBIT growth 5Y2.75%
EBIT Next Year120.98%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-80.29%
FCF growth 3Y10.13%
FCF growth 5Y-15.73%
OCF growth 1Y-19.31%
OCF growth 3Y-2.28%
OCF growth 5Y5.64%
AMERICAN ASSETS TRUST INC / AAT FAQ
What is the fundamental rating for AAT stock?
ChartMill assigns a fundamental rating of 4 / 10 to AAT.
What is the valuation status of AMERICAN ASSETS TRUST INC (AAT) stock?
ChartMill assigns a valuation rating of 4 / 10 to AMERICAN ASSETS TRUST INC (AAT). This can be considered as Fairly Valued.
What is the profitability of AAT stock?
AMERICAN ASSETS TRUST INC (AAT) has a profitability rating of 5 / 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 grow by 141.28% in the next year.