American Assets Trust, Inc. - Understand $aat stock

$AAT Market Cap: $1.734 Billion

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Financial Snapshot

Revenue

$456.9M

TTM

Gross Margin

63.28%

TTM

Net Earnings

$63.67M

TTM

Current Assets

$541.8M

Q3 2024

Current Liabilities

$83.18M

Q3 2024

Current Ratio

651.39%

Q3 2024

Total Assets

$3.396B

Q3 2024

Total Liabilities

$2.210B

Q3 2024

Book Value

$1.187B

Q3 2024

Cash

$533.0M

Q3 2024

P/E

27.23

Nov 29, 2024 EST

Free Cash Flow

$135.5M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Revenue	$441.2M	$422.6M	$375.8M	$344.6M	$366.7M	$330.9M	$315.0M	$295.1M	$275.6M	$260.0M	$255.1M	$235.5M	$202.8M	$117.7M	$112.6M	$120.9M	$117.5M	$113.0M
YoY Change	4.38%	12.46%	9.07%	-6.04%	10.84%	5.04%	6.74%	7.06%	6.01%	1.94%	8.32%	16.12%	72.22%	4.57%	-6.87%	2.89%	3.98%	7.62%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Revenue	$441.2M	$422.6M	$375.8M	$344.6M	$366.7M	$330.9M	$315.0M	$295.1M	$275.6M	$260.0M	$255.1M	$235.5M	$202.8M	$117.7M	$112.6M	$120.9M	$117.5M	$113.0M
Cost Of Revenue	$164.0M	$152.4M	$129.8M	$121.1M	$132.0M	$121.5M	$116.7M	$107.9M	$98.00M	$91.20M	$90.00M	$86.10M	$76.90M	$32.20M	$27.40M	$32.90M	$32.60M	$31.30M
Gross Profit	$277.2M	$270.2M	$246.1M	$223.5M	$234.8M	$209.4M	$198.3M	$187.2M	$177.6M	$168.8M	$165.1M	$149.4M	$125.9M	$85.50M	$85.20M	$88.00M	$85.00M	$81.70M
Gross Profit Margin	62.84%	63.93%	65.47%	64.85%	64.01%	63.29%	62.96%	63.42%	64.44%	64.91%	64.72%	63.43%	62.09%	72.61%	75.67%	72.79%	72.34%	72.3%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Selling, General & Admin	$35.96M	$34.52M	$31.66M	$28.60M	$27.41M	$24.89M	$23.44M	$20.01M	$22.18M	$20.16M	$18.74M	$16.86M	$15.02M	$9.373M	$7.000M	$8.700M	$10.50M	$10.70M
YoY Change	4.17%	9.05%	10.68%	4.36%	10.11%	6.22%	17.09%	-9.76%	10.04%	7.54%	11.17%	12.27%	60.22%	33.9%	-19.54%	-17.14%	-1.87%	38.96%
% of Gross Profit	12.97%	12.78%	12.87%	12.8%	11.68%	11.89%	11.82%	10.69%	12.49%	11.94%	11.35%	11.29%	11.93%	10.96%	8.22%	9.89%	12.35%	13.1%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$119.5M	$123.3M	$116.3M	$108.3M	$96.21M	$107.1M	$83.28M	$71.32M	$63.39M	$66.57M	$66.78M	$61.85M	$55.94M	$34.42M	$28.50M	$31.10M	$31.40M	$31.20M
YoY Change	-3.11%	6.05%	7.4%	12.56%	-10.17%	28.6%	16.77%	12.5%	-4.77%	-0.31%	7.96%	10.58%	62.51%	20.77%	-8.36%	-0.96%	0.64%	5.41%
% of Gross Profit	43.11%	45.64%	47.27%	48.46%	40.98%	51.14%	41.99%	38.11%	35.69%	39.44%	40.45%	41.41%	44.43%	40.26%	33.45%	35.34%	36.94%	38.19%
Operating Expenses	$155.5M	$34.52M	$276.0M	$256.0M	$253.1M	$251.3M	$221.3M	$197.1M	$181.5M	$176.3M	$174.0M	$163.6M	$146.4M	$75.33M	$35.40M	$39.80M	$41.80M	$42.00M
YoY Change	350.32%	-87.49%	7.8%	1.16%	0.69%	13.55%	12.27%	8.64%	2.92%	1.37%	6.36%	11.69%	94.41%	112.79%	-11.06%	-4.78%	-0.48%	12.6%
Operating Profit	$121.7M	$114.7M	$99.87M	$88.58M	$113.7M	$79.54M	$93.65M	$97.94M	$94.15M	$83.67M	$81.10M	$71.91M	$56.34M	$42.42M	$49.80M	$48.20M	$43.20M	$39.70M
YoY Change	6.11%	14.88%	12.74%	-22.08%	42.94%	-15.07%	-4.39%	4.03%	12.53%	3.17%	12.79%	27.62%	32.82%	-14.82%	3.32%	11.57%	8.82%	-3.64%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Interest Expense	-$64.71M	-$58.23M	$58.59M	$53.44M	$54.01M	$52.25M	$53.85M	$51.94M	$47.26M	$52.97M	$58.02M	$57.33M	$54.58M	$43.25M	-$42.00M	-$61.80M	-$47.60M	-$43.10M
YoY Change	11.12%	-199.39%	9.63%	-1.05%	3.37%	-2.97%	3.68%	9.89%	-10.77%	-8.71%	1.21%	5.03%	26.19%	-202.98%	-32.04%	29.83%	10.44%	-7.11%
% of Operating Profit	-53.15%	-50.75%	58.66%	60.33%	47.51%	65.69%	57.5%	53.03%	50.2%	63.3%	71.54%	79.73%	96.87%	101.95%	-84.34%	-128.22%	-110.19%	-108.56%
Other Income/Expense, Net	$7.649M	-$625.0K	-$418.0K	$447.0K	-$122.0K	-$85.00K	$334.0K	-$368.0K	-$97.00K	$441.0K	-$487.0K	-$629.0K	$212.0K	-$1.846M	-$3.000M	$1.500M	$2.700M	$1.300M
YoY Change	-1323.84%	49.52%	-193.51%	-466.39%	43.53%	-125.45%	-190.76%	279.38%	-122.0%	-190.55%	-22.58%	-396.7%	-111.48%	-38.47%	-300.0%	-44.44%	107.69%	-35.0%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Pretax Income	$64.69M	$55.88M	$36.59M	$35.60M	$60.20M	$27.20M	$40.10M	$45.60M	$53.90M	$31.10M	$22.60M	$13.90M	$13.70M	$1.600M	$4.700M	-$12.10M	-$1.800M	-$2.000M
YoY Change	15.77%	52.7%	2.79%	-40.86%	121.32%	-32.17%	-12.06%	-15.4%	73.31%	37.61%	62.59%	1.46%	756.25%	-65.96%	-138.84%	572.22%	-10.0%	-39.39%
Income Tax	$1.041M	$850.0K	$738.0K	-$9.000K	$819.0K	$327.0K	$214.0K	$566.0K	$295.0K	$460.0K	$645.0K	$1.016M	$573.0K	$0.00	$0.00	$0.00	$0.00	$0.00
% Of Pretax Income	1.61%	1.52%	2.02%	-0.03%	1.36%	1.2%	0.53%	1.24%	0.55%	1.48%	2.85%	7.31%	4.18%	0.0%	0.0%
Net Earnings	$50.38M	$55.88M	$36.59M	$27.66M	$45.72M	$19.69M	$29.08M	$32.59M	$38.51M	$21.76M	$15.22M	$34.94M	$2.917M	$2.174M	$6.400M	-$7.000M	-$6.800M	-$3.900M
YoY Change	-9.84%	52.7%	32.3%	-39.5%	132.24%	-32.3%	-10.77%	-15.38%	77.0%	42.94%	-56.44%	1097.74%	34.18%	-66.03%	-191.43%	2.94%	74.36%	-104.22%
Net Earnings / Revenue	11.42%	13.22%	9.74%	8.03%	12.47%	5.95%	9.23%	11.04%	13.97%	8.37%	5.97%	14.84%	1.44%	1.85%	5.68%	-5.79%	-5.79%	-3.45%
Basic Earnings Per Share	$0.84	$0.72	$0.47	$0.46	$0.84	$0.42	$0.62	$0.72	$0.87	$0.52	$0.38	$0.90	$0.08
Diluted Earnings Per Share	$0.66	$0.72	$0.47	$0.46	$0.84	$0.42	$0.62	$0.72	$0.86	$0.51	$0.38	$0.90	$0.08	$112.2K	$182.9K	-$200.0K	-$194.3K	-$111.4K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Cash & Short-Term Investments	$82.89M	$49.57M	$139.5M	$137.3M	$99.30M	$48.00M	$82.60M	$44.80M	$39.90M	$59.40M	$49.00M	$42.50M	$112.7M	$42.00M	$24.20M	$19.00M
YoY Change	67.21%	-64.47%	1.62%	38.27%	106.88%	-41.89%	84.38%	12.28%	-32.83%	21.22%	15.29%	-62.29%	168.33%	73.55%	27.37%
Cash & Equivalents	$82.89M	$49.57M	$139.5M	$137.3M	$99.30M	$48.00M	$82.60M	$44.80M	$39.90M	$59.40M	$49.00M	$42.50M	$112.7M	$42.00M	$24.20M	$19.00M
Short-Term Investments
Other Short-Term Assets	$10.46M	$9.277M	$9.136M	$8.700M	$7.200M	$6.700M	$5.900M	$5.900M	$4.300M	$3.600M	$3.300M	$3.500M	$3.200M	$5.900M	$700.0K	$600.0K
YoY Change	12.72%	1.54%	5.01%	20.83%	7.46%	13.56%	0.0%	37.21%	19.44%	9.09%	-5.71%	9.38%	-45.76%	742.86%	16.67%
Inventory
Prepaid Expenses
Receivables	$7.624M	$7.848M	$7.445M	$6.900M	$12.00M	$9.300M	$9.900M	$9.300M	$7.500M	$6.700M	$7.300M	$35.80M	$29.20M	$42.80M	$41.70M	$41.90M
Other Receivables	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Total Short-Term Assets	$90.51M	$66.70M	$156.1M	$152.9M	$118.5M	$64.00M	$98.40M	$60.00M	$51.70M	$69.70M	$59.60M	$81.80M	$145.1M	$90.70M	$66.60M	$61.50M
YoY Change	35.71%	-57.27%	2.1%	29.03%	85.16%	-34.96%	64.0%	16.05%	-25.82%	16.95%	-27.14%	-43.63%	59.98%	36.19%	8.29%
Property, Plant & Equipment	$2.705B	$2.758B	$2.708B	$2.522B	$2.528B	$2.040B	$2.077B	$1.832B	$1.835B	$1.775B	$1.677B	$1.668B	$1.404B	$917.2M	$774.2M	$793.2M
YoY Change	-1.93%	1.86%	7.38%	-0.25%	23.94%	-1.77%	13.39%	-0.19%	3.35%	5.88%	0.52%	18.83%	53.06%	18.47%	-2.4%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments												$0.00	$28.20M	$39.80M	$57.80M	$70.00M
YoY Change												-100.0%	-29.15%	-31.14%	-17.43%
Other Assets	$1.295M		$0.00	$1.700M	$10.10M	$9.300M	$9.300M	$10.00M	$11.60M	$16.40M	$11.80M	$11.10M	$64.10M	$34.10M	$7.000M	$7.000M
YoY Change			-100.0%	-83.17%	8.6%	0.0%	-7.0%	-13.79%	-29.27%	38.98%	6.31%	-82.68%	87.98%	387.14%	0.0%
Total Long-Term Assets	$2.894B	$2.921B	$2.862B	$2.664B	$2.672B	$2.134B	$2.162B	$1.927B	$1.923B	$1.872B	$1.773B	$1.746B	$1.564B	$1.027B	$872.4M	$909.6M
YoY Change	-0.92%	2.07%	7.41%	-0.28%	25.18%	-1.26%	12.17%	0.22%	2.7%	5.6%	1.55%	11.61%	52.35%	17.69%	-4.09%
Total Assets	$2.985B	$2.988B	$3.018B	$2.817B	$2.790B	$2.198B	$2.260B	$1.987B	$1.974B	$1.942B	$1.832B	$1.828B	$1.709B	$1.117B	$939.0M	$971.1M
YoY Change
Accounts Payable	$61.31M	$65.99M	$64.53M	$59.30M	$62.60M	$46.60M	$38.10M	$32.40M	$31.80M	$50.90M	$37.10M	$29.50M	$24.80M	$11.30M	$0.00	$9.000M
YoY Change	-7.09%	2.26%	8.82%	-5.27%	34.33%	22.31%	17.59%	1.89%	-37.52%	37.2%	25.76%	18.95%	119.47%		-100.0%
Accrued Expenses	$23.25M	$25.68M	$27.92M	$30.10M	$5.400M
YoY Change	-9.43%	-8.03%	-7.25%	457.41%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$70.19M	$100.4M	$100.3M	$96.00M	$76.30M	$55.40M	$44.70M	$38.50M	$37.80M	$56.40M	$42.30M	$34.40M	$28.90M	$27.90M	$12.00M	$13.70M
YoY Change	-30.06%	0.06%	4.48%	25.82%	37.73%	23.94%	16.1%	1.85%	-32.98%	33.33%	22.97%	19.03%	3.58%	132.5%	-12.41%
Long-Term Debt	$1.690B	$1.648B	$1.649B	$1.407B	$1.358B	$1.291B	$1.325B	$1.062B	$1.056B	$1.063B	$1.045B	$1.045B	$912.1M	$872.0M	$744.5M	$755.2M
YoY Change	2.52%	-0.07%	17.23%	3.62%	5.18%	-2.58%	24.82%	0.56%	-0.68%	1.68%	0.05%	14.54%	4.6%	17.13%	-1.42%
Other Long-Term Liabilities	$71.19M	$53.05M	$57.33M	$60.70M	$62.40M	$49.50M	$45.90M	$48.10M	$51.80M	$55.80M	$58.20M	$62.80M	$88.60M	$62.40M	$11.60M	$13.00M
YoY Change	34.19%	-7.47%	-5.55%	-2.72%	26.06%	7.84%	-4.57%	-7.14%	-7.17%	-4.12%	-7.32%	-29.12%	41.99%	437.93%	-10.77%
Total Long-Term Liabilities	$1.761B	$1.701B	$1.707B	$1.468B	$1.420B	$1.340B	$1.371B	$1.110B	$1.107B	$1.119B	$1.103B	$1.108B	$1.001B	$934.4M	$756.1M	$768.2M
YoY Change	3.51%	-0.32%	16.29%	3.34%	5.95%	-2.23%	23.55%	0.2%	-1.0%	1.38%	-0.37%	10.67%	7.1%	23.58%	-1.58%
Total Liabilities	$1.787B	$1.767B	$1.779B	$1.546B	$1.476B	$1.395B	$1.426B	$1.177B	$1.175B	$1.207B	$1.184B	$1.189B	$1.083B	$995.5M	$805.8M	$822.3M
YoY Change	1.14%	-0.69%	15.08%	4.71%	5.81%	-2.17%	21.13%	0.23%	-2.64%	1.91%	-0.45%	9.78%	8.82%	23.54%	-2.01%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Basic Shares Outstanding	60.16M shares	60.05M shares	59.99M shares	59.81M shares	54.11M shares	46.95M shares	46.72M shares	45.33M shares	44.44M shares	42.04M shares	39.54M shares	38.74M shares	36.75M shares
Diluted Shares Outstanding	76.34M shares	76.23M shares	76.17M shares	76.12M shares	70.79M shares	64.14M shares	64.09M shares	63.23M shares	62.34M shares	59.95M shares	57.52M shares	57.05M shares	54.22M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $1.7339 Billion

About American Assets Trust, Inc.

American Assets Trust, Inc. is a real estate investment trust. The company is headquartered in San Diego, California and currently employs 230 full-time employees. The company went IPO on 2011-01-13. The firm owns, operates, acquires, and develops office, retail, multifamily and mixed-use properties in attractive, high-barrier-to-entry markets in Southern California, Northern California, Washington, Oregon, Texas, and Hawaii. The company operates in four segments: office, retail, multifamily and mixed-use. The firm's office portfolio comprises approximately 4.1 million rentable square feet, and its retail portfolio comprises approximately 3.1 million rentable square feet. In addition, the Company owns one mixed-use property (including approximately 94,000 rentable square feet of retail space and a 369-room all-suite hotel) and 2,110 multifamily units. Its portfolio consists of twelve office properties; twelve retail shopping centers; a mixed-use property consisting of a 369-room all-suite hotel and a retail shopping center; and six multifamily properties.

Industry: Real Estate Investment Trusts Peers: Alexander & Baldwin, Inc. Global Net Lease, Inc. Armada Hoffler Properties, Inc. Broadstone Net Lease, Inc. W. P. Carey Inc. Empire State Realty OP, L.P. Empire State Realty Trust, Inc. ESSENTIAL PROPERTIES REALTY TRUST, INC. STORE CAPITAL LLC