Earnings Releases·Oct 27, 2026, 4:16 PM ET

American Assets Trust, Inc. — Third Quarter 2026 Earnings Summary

Net income for the nine months ended September 30, 2026, decreased to $18.0 million from $61.6 million in the prior year, primarily due to the absence of a $43.6 million gain on the sale of Del Monte Center recognized in 2025; however, FFO for the same period increased to $121.0 million from $117.5 million, driven by operational growth.
The company raised its 2026 FFO per diluted share guidance to a range of $2.04 to $2.10, reflecting a $0.04 increase over the previous midpoint, supported by record average rental rates and an 8.3% increase in same-store cash NOI for the third quarter.
Leasing activity demonstrated strong performance with comparable retail and office leasing spreads of 7.4% and 2.1% respectively in Q3 2026, while portfolio occupancy remained robust across segments, notably at 98.3% for retail and 94.2% for multifamily.
Liquidity stood at $589.6 million as of September 30, 2026, with $500.0 million available on its credit line, while the company declared a $0.34 per share dividend for the fourth quarter payable in December 2026.