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American Assets Trust, Inc. Reports Third Quarter 2026 <a href="https://bitcomme.com/how-often-should-you-update-your-financial-plan/” title=”How often should you update your financial plan?”>Financial Results
SAN DIEGO, Oct. 27, 2026 (GLOBE NEWSWIRE) — American Assets Trust, Inc. (NYSE: AAT) (the “company”) today reported financial results for its third quarter ended September 30, 2026.
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Net income available to common stockholders of $7.7 million and $18.0 million for the three and nine months ended September 30, 2026, respectively, or $0.13 and $0.30 per diluted share, respectively.
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Funds From Operations (“FFO”) of $0.56 and $1.57 per diluted share for the three and nine months ended September 30, 2026, respectively, compared to $0.49 and $1.53 per diluted share for the same periods in 2025.
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Same-store cash Net Operating Income (“NOI”) increased8.3% and 2.3% for the three and nine months ended September 30, 2026, respectively, compared to the same periods in 2025.
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Increased 2026 FFO per diluted share guidance to a range of $2.04 to $2.10 with a midpoint of $2.07, a $0.04 increase over prior guidance.
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Achieved record average rental rates across our retail and multifamily segments during the third quarter.
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Leased 124,000 of office square feet, of which approximately 47,000 is comparable, at an average straight-line basis and cash-basis contractual rent increase of 8.2% and 2.1%, respectively, during the third quarter.
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Leased 108,000 of retail square feet, of which approximately 94,000 is comparable, at an average straight-line basis and cash-basis contractual rent increase of 16.8% and 7.4%, respectively, during the third quarter.
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(Unaudited, amounts in thousands, except per share data) |
Three Months Ended |
Nine Months Ended |
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Basic and diluted income attributable to common stockholders per share |
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FFO attributable to common stock and common units |
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FFO per diluted share and unit |
Net income decreased $43.6 million for the nine months ended September 30, 2026, compared to the same period in 2025, primarily driven by the gain on sale of Del Monte Center recognized in 2025, higher interest expense as we ceased capitalization of interest related to La Jolla Commons III being placed into service, decrease in occupancy at First & Main and 14Acres and overall increase in rental expenses across our same-store properties. These decreases were partially offset by the acquisition of Genesee Park in 2025, prior year tax refunds received at Waikele Center and an increase in new tenant leases commenced at City Center Bellevue and La Jolla Commons III.
