American Assets Trust, Inc. (AAT)

Over the past six months (April to October 2025), American Assets Trust's stock has experienced a general decline, with a year-to-date drop of 23.45% and a one-year total shareholder return of negative 22.77%. In Q1 2025, AAT reported Funds From Operations (FFO) per diluted share of $0.52, with same-store cash Net Operating Income (NOI) increasing by 3.1% year-over-year. In Q2 2025, the company surpassed FFO estimates, but a 10-Q report indicated a 4% decline in rental income year-over-year and a 54% decrease in net income attributable to stockholders, alongside a 21% rise in interest expense. Seeking Alpha reported a rating downgrade for American Assets Trust, citing headwinds and concerns about dividend sustainability. Mizuho lowered its price target for AAT from $22 to $21. Analysts were anticipating a considerable drop in quarterly revenue for Q3 2025. Short interest in American Assets Trust recently increased by 22.53%, indicating decreasing investor sentiment. Fitch Ratings affirmed AAT's credit ratings, including its Long-Term Issuer Default Ratings, at "BBB" with a stable outlook.

Demand seasonality for American Assets Trust's diverse portfolio varies by property type and geographic region. The residential/multifamily market in California typically experiences a "spring surge" from March to June, followed by a "summer slowdown," with activity picking up again in a "fall spike" after Labor Day, before a dramatic plunge in activity during mid-winter. The Western U.S. office sector is projected for a slow and steady rebound, with tenant demand expected to rise by the end of 2025, leading to increased leasing activity. Retail fundamentals in the Western U.S. remain stable, characterized by low vacancy and steady rents, despite softer leasing activity. Specific seasonality for AAT's mixed-use properties, particularly the hotel component, is not detailed in the provided information, though increased tourism has previously impacted performance.

American Assets Trust, Inc. (AAT) is a self-administered and self-managed real estate investment trust (REIT) based in San Diego, California, operating in the Diversified REITs industry. AAT has over 55 years of experience in acquiring, improving, developing, and managing a diversified portfolio of premier retail, office, residential (multifamily), and mixed-use properties. The company's major products and services include office properties comprising approximately 4.1 million rentable square feet, retail properties consisting of approximately 2.4 million rentable square feet, multifamily properties including 2,302 multifamily units, and mixed-use properties, such as one with approximately 94,000 rentable square feet of retail space and a 369-room all-suite hotel.

American Assets Trust's properties are primarily located in dynamic, high-barrier-to-entry markets across the Western United States, including Southern California (e.g., San Diego), Northern California (e.g., San Francisco), Oregon (e.g., Portland), Washington (e.g., Bellevue), Hawaii (e.g., Waipahu), and Texas (San Antonio).

Specific information regarding American Assets Trust's brand reputation in the real estate industry over the past year is limited in publicly available search results. While the company emphasizes its "high-quality real estate" and "resilient" management team, and has a long operating history, detailed reviews or sentiment analysis directly pertaining to its brand perception by tenants or the broader real estate market in the past year are not readily available.

American Assets Trust (NYSE: AAT) is predominantly owned by institutional shareholders, who hold 92.48% of the company. Insiders own 32.38%, while retail investors hold 0.00%. Major institutional owners include BlackRock Inc., Vanguard Group Inc., American Assets Inc., State Street Corp, T. Rowe Price Investment Management Inc., LSV Asset Management, American Assets Investment Management LLC, Charles Schwab Investment Management Inc, and Geode Capital Management LLC. The largest individual shareholder is Ernest S. Rady, who owns 18.36 million shares, representing 30.03% of the company.