American Assets Trust, Inc. (AAT)

American Assets Trust Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Rental Revenue	417.52	423.61	419.37	402.51	360.21	330.31
Other Revenue	30.8	29.73	17.4	16.06	12.83	11.78
Total Revenue	448.32	453.34	436.78	418.57	373.04	342.09
Revenue Growth (YoY	1.70%	3.79%	4.35%	12.21%	9.04%	-5.65%
Property Expenses	160.91	160.16	156.09	145.97	125.2	116.62
Selling, General & Administrative	38.57	38.52	39.45	34.52	31.66	28.6
Depreciation & Amortization	127.51	125.46	119.5	123.34	116.31	108.29
Total Operating Expenses	326.99	324.14	315.03	303.83	273.17	253.51
Operating Income	121.33	129.2	121.75	114.73	99.87	88.58
Interest Expense	-80.55	-74.53	-64.71	-58.23	-58.59	-53.44
Interest & Investment Income	9.83	9.03	2.18	0.23	0.32	0.44
Other Non-Operating Income	-10	0	0.02	-	-0	0
EBT Excluding Unusual Items	40.61	63.71	59.23	56.73	41.6	35.58
Gain (Loss) on Sale of Assets	44.48	-	-	-	-	-
Total Legal Settlements	10	10	6.5	-	-	-
Other Unusual Items	-	-	-	-	-4.27	-
Pretax Income	95.09	73.71	65.73	56.73	37.33	35.58
Income Tax Expense	0.96	0.89	1.04	0.85	0.74	-0.01
Earnings From Continuing Operations	94.13	72.82	64.69	55.88	36.59	35.59
Minority Interest in Earnings	-20.51	-16.02	-14.31	-12.37	-8.22	-7.93
Net Income	73.63	56.8	50.38	43.51	28.38	27.66
Net Income to Common	73.63	56.8	50.38	43.51	28.38	27.66
Net Income Growth	37.81%	12.74%	15.80%	53.32%	2.59%	-39.50%
Basic Shares Outstanding	60	60	60	60	60	60
Diluted Shares Outstanding	77	77	76	76	76	76
Shares Change (YoY)	0.27%	0.23%	0.14%	0.08%	0.07%	7.54%
EPS (Basic)	1.22	0.94	0.84	0.72	0.47	0.46
EPS (Diluted)	1.22	0.94	0.84	0.72	0.47	0.46
EPS Growth	37.34%	12.42%	15.58%	53.17%	2.27%	-45.26%
Dividend Per Share	1.350	1.340	1.320	1.280	1.160	1.000
Dividend Growth	1.50%	1.52%	3.13%	10.35%	16.00%	-12.28%
Operating Margin	27.06%	28.50%	27.87%	27.41%	26.77%	25.89%
Profit Margin	16.42%	12.53%	11.53%	10.39%	7.61%	8.09%
EBITDA	246.36	251.98	238.16	234.77	212.94	192.94
EBITDA Margin	54.95%	55.58%	54.53%	56.09%	57.08%	56.40%
D&A For Ebitda	125.03	122.78	116.41	120.03	113.07	104.36
EBIT	121.33	129.2	121.75	114.73	99.87	88.58
EBIT Margin	27.06%	28.50%	27.87%	27.41%	26.77%	25.89%
Funds From Operations (FFO)	176.43	197.53	183.44	178.57	152.34	143.5
FFO Per Share	2.30	2.58	2.40	2.34	2.00	1.89
Adjusted Funds From Operations (AFFO)	-	132.16	124.08	178.57	152.34	143.5
AFFO Per Share	-	1.73	1.63	2.34	2.00	1.89
FFO Payout Ratio	46.74%	41.35%	43.73%	43.42%	46.06%	41.97%
Effective Tax Rate	1.01%	1.20%	1.58%	1.50%	1.98%	-
Revenue as Reported	452.81	457.86	441.16	422.65	375.83	344.57

Updated Jul 29, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

SEC Filings: 10-K · 10-Q