American Assets Trust, Inc.

American Assets Trust, Inc.

AATยทNYSE

$23.86

+2.2%
Real EstateREIT - Diversified

American Assets Trust, Inc. is a full service, vertically integrated and self-administered real estate investment trust, or REIT, headquartered in San Diego, California. The company has over 50 years of experience in acquiring, improving, developing and managing premier office, retail, and residential properties throughout the United States in some of the nation's most dynamic, high-barrier-to-entry markets primarily in Southern California, Northern California, Oregon, Washington, Texas and Hawaii. The company's office portfolio comprises approximately 3.4 million rentable square feet, and its retail portfolio comprises approximately 3.1 million square feet. In addition, the company owns one mixed-use property (including approximately 97,000 rentable square feet of retail space and a 369-room all-suite hotel) and 2,112 multifamily units. In 2011, the company was formed to succeed to the real estate business of American Assets, Inc., a privately held corporation founded in 1967 and, as such, has significant experience, long-standing relationships and extensive knowledge of its core markets, submarkets and asset classes.

At a Glance

Live Snapshot
Market Cap$1.46B
EPS0.9200
P/E Ratio25.93
Earnings Date07/28/2026
American Assets Trust, Inc.

American Assets Trust, Inc. Fair Value Envelope

AAT ยท NYSE

Our analysis suggests that AAT has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $23.86, this represents a potential HIDDEN relative to our calculated worth for American Assets Trust, Inc..

Intrinsic Value
Current Price: $23.86

Owner Earnings Valuation Tool

Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation

Historical Financial Data

Base year metrics used for projections

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Projection Settings

Forecast period and terminal assumptions

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DCF Valuation Summary

Calculation flow from present value to intrinsic value per share

Present Value$300.7M
+ Cash & Equivalents$129.4M
Firm Value$430.1M
- Debt$1.7B
Equity Value-$1.3B
/ Shares Outstanding61,152,542B
DCF Value-$21
OVERVALUED BY 187%

Owner Earnings Projections

Operating Cash Flow - Maintenance CapEx = Owner Earnings

Metric
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
Operating Cash Flow
$115.8M
$80.2M
$55.6M
$38.5M
$26.7M
$18.5M
$12.8M
$8.9M
$6.2M
$4.3M
Maintenance CapEx
-$10.0M
-$6.9M
-$4.8M
-$3.3M
-$2.3M
-$1.6M
-$1.1M
-$767.9K
-$532.1K
-$368.7K
Owner Earnings
$105.8M
$73.3M
$50.8M
$35.2M
$24.4M
$16.9M
$11.7M
$8.1M
$5.6M
$3.9M
Discount Factor
0.926
0.857
0.794
0.735
0.681
0.630
0.583
0.540
0.500
0.463
Present Value
$97.9M
$62.8M
$40.3M
$25.9M
$16.6M
$10.6M
$6.8M
$4.4M
$2.8M
$1.8M
Terminal Value represents 10.2% of Enterprise Value