American Assets Trust, Inc.
americanassetstrust.comWhat Do They Do?
Owns and leases office, retail and multifamily properties to businesses, retailers and residents in several U.S. markets.
10-K for FY2025, filed Feb 6, 2026We are a full service, vertically integrated and self-administered real estate investment trust, or REIT, that owns, operates, acquires and…View ↗
How Do They Make Money?
Tenants pay rent over their lease terms, including base rent and, for some leases, rent tied to sales; tenants also reimburse property taxes and other costs. Hotel guests pay for occupied rooms and services, while multifamily residents pay rent and fees for services such as parking.
10-K for FY2025, filed Feb 6, 2026Our leases with tenants are classified as operating leases. Substantially all such leases contain fixed rent escalations which occur at…View ↗
Other property income includes parking income, general excise tax billed to tenants and fees charged to tenants at our multifamily…View ↗
We recognize revenue on the hotel portion of our mixed-use property from the rental of hotel rooms and guest services when we satisfy…View ↗
Room revenue is generated through contracts with customers whereby the customer agrees to pay a daily rate for the right to use a hotel…View ↗
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10-K for FY2025, filed Feb 6, 2026
FY2025 revenue by reportable segment (Property revenue) ↗
$436.2M
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10-K for FY2025, filed Feb 6, 2026
$436.2M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Office
Recurring
10-K for FY2025, filed Feb 6, 2026 |
47%
FY2022: 48%
|
Office, FY2025
$206M Sources
|
Recurring |
|
Retail
|
22%
FY2022: 24%
|
Retail, FY2025
$95.1M Sources
|
|
|
Multifamily
Recurring
10-K for FY2025, filed Feb 6, 2026 |
16%
FY2022: 14%
|
Multifamily, FY2025
$69M Sources
|
Recurring |
|
Mixed-Use
|
15%
FY2022: 14%
|
Mixed-Use, FY2025
$66.1M Sources
|
Who Are Their Customers?
Businesses lease office space and retail locations; residents rent multifamily homes, and hotel guests pay for stays. The company rents properties directly to tenants.
10-K for FY2025, filed Feb 6, 2026We are a full service, vertically integrated and self-administered real estate investment trust, or REIT, that owns, operates, acquires and…View ↗
Our leases with tenants are classified as operating leases. Substantially all such leases contain fixed rent escalations which occur at…View ↗
Room revenue is generated through contracts with customers whereby the customer agrees to pay a daily rate for the right to use a hotel…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 16 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Feb 6, 2026
How Are They Changing?
10-Q for Q2 FY2026, filed Jul 31, 2026
Open tableView ↗
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May 11, 2026
Board changed stock ownership limits and agreed voting restrictions with the Rady Trust group.
The board raised the group's ownership limit and set voting restrictions for shares above the prior limit.
Sources
8-K, filed May 11, 2026
The Company's charter (the “Charter”) contains certain limitations on the ownership of the Company's stock. Pursuant to Section 6.2.7 of…View ↗
Growing. Revenue grew 16% in 4 years, from $375.8M in FY2021 to $436.2M in FY2025, about 4% a year.
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