American Assets Trust
Market Cap
US$3.6b
Last Updated
2019/12/08 00:23 UTC
Data Sources
Company Financials +
Executive Summary
American Assets Trust, Inc. is a full service, vertically integrated and self-administered real estate investment trust, or REIT, headquartered in San Diego, California.
Rewards
Risk Analysis
Snowflake Analysis
Solid track record with moderate growth potential.
Similar Companies
Share Price & News
How has American Assets Trust's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: AAT has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-0.3%
AAT
-0.4%
US REITs
0.03%
US Market
1 Year Return
12.3%
AAT
12.2%
US REITs
18.6%
US Market
Return vs Industry: AAT matched the US REITs industry which returned 12.2% over the past year.
Return vs Market: AAT underperformed the US Market which returned 18.6% over the past year.
Shareholder returns
| AAT | Industry | Market | |
|---|---|---|---|
| 7 Day | -0.3% | -0.4% | 0.03% |
| 30 Day | 1.4% | 1.2% | 1.7% |
| 90 Day | -1.2% | -0.3% | 5.7% |
| 1 Year | 15.2%12.3% | 17.0%12.2% | 21.1%18.6% |
| 3 Year | 19.6%11.1% | 35.2%18.3% | 45.6%36.2% |
| 5 Year | 37.0%21.2% | 56.0%23.8% | 71.1%52.3% |
Price Volatility Vs. Market
How volatile is American Assets Trust's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall St
Does American Assets Trust, Inc.'s (NYSE:AAT) CEO Pay Matter?1 month ago | Simply Wall St
Earnings Miss: American Assets Trust, Inc. Missed EPS By 10% And Analysts Are Revising Their Forecasts1 month ago | Simply Wall St
American Assets Trust, Inc. (NYSE:AAT) Delivered A Weaker ROE Than Its IndustryValuation
Is American Assets Trust undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: AAT ($47.4) is trading below our estimate of fair value ($99.56)
Significantly Below Fair Value: AAT is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: AAT is poor value based on its PE Ratio (61x) compared to the REITs industry average (38.8x).
PE vs Market: AAT is poor value based on its PE Ratio (61x) compared to the US market (18.5x).
Price to Earnings Growth Ratio
PEG Ratio: AAT is poor value based on its PEG Ratio (2.3x)
Price to Book Ratio
PB vs Industry: AAT is overvalued based on its PB Ratio (2.2x) compared to the US REITs industry average (2x).
Next Steps
Future Growth
How is American Assets Trust forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
26.9%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: AAT's forecast earnings growth (26.9% per year) is above the savings rate (1.7%).
Earnings vs Market: AAT's earnings (26.9% per year) are forecast to grow faster than the US market (14.2% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: AAT's revenue (6% per year) is forecast to grow slower than the US market (7.4% per year).
High Growth Revenue: AAT's revenue (6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: AAT's Return on Equity is forecast to be low in 3 years time (7.8%).
Next Steps
Past Performance
How has American Assets Trust performed over the past 5 years?
0.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: AAT has high quality earnings.
Growing Profit Margin: AAT's current net profit margins (11.4%) are higher than last year (6.2%).
Past Earnings Growth Analysis
Earnings Trend: AAT's earnings have grown by 0.3% per year over the past 5 years.
Accelerating Growth: AAT's earnings growth over the past year (96.8%) exceeds its 5-year average (0.3% per year).
Earnings vs Industry: AAT earnings growth over the past year (96.8%) exceeded the REITs industry 8.3%.
Return on Equity
High ROE: AAT's Return on Equity (4.1%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is American Assets Trust's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: AAT has a high level of physical assets or inventory.
Debt Coverage by Assets: AAT's debt is not covered by short term assets (assets are 0.1x debt).
Financial Institutions Analysis
Asset Level: AAT's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if AAT has a sufficient allowance for bad loans.
Low Risk Liabilities: AAT reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if AAT has an acceptable proportion of non-loan assets held.
Low Risk Deposits: AAT has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if AAT has an appropriate level of bad loans.
Next Steps
Dividend
What is American Assets Trust's current dividend yield, its reliability and sustainability?
2.53%
Current Dividend Yield
Upcoming Dividend Payment
Purchase American Assets Trust before the 'Buy Limit' to receive their next dividend payment.
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: AAT's dividend (2.53%) is higher than the bottom 25% of dividend payers in the US market (1.42%).
High Dividend: AAT's dividend (2.53%) is low compared to the top 25% of dividend payers in the US market (3.7%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, AAT has been paying a dividend for less than 10 years.
Growing Dividend: AAT's dividend payments have increased, but the company has only paid a dividend for 9 years.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (23%), AAT's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: AAT's dividends in 3 years are forecast to be thoroughly covered by earnings (0.6% payout ratio).
Next Steps
Management
What is the CEO of American Assets Trust's salary, the management and board of directors tenure and is there insider trading?
4.3yrs
Average management tenure
CEO
Ernest Rady (82yo)
4.3yrs
Tenure
US$3,943,250
Compensation
Mr. Ernest Sylvan Rady founded American Assets Trust, Inc. in 1967 and has been its Executive Chairman of The Board since January 2011. Mr. Rady has been the Chief Executive Officer and President at Americ ...
CEO Compensation Analysis
Compensation vs Market: Ernest's total compensation ($USD3.94M) is about average for companies of similar size in the US market ($USD5.10M).
Compensation vs Earnings: Ernest's compensation has increased by more than 20% in the past year.
Management Age and Tenure
4.3yrs
Average Tenure
57yo
Average Age
Experienced Management: AAT's management team is considered experienced (4.3 years average tenure).
Board Age and Tenure
8.9yrs
Average Tenure
75yo
Average Age
Experienced Board: AAT's board of directors are considered experienced (8.9 years average tenure).
Insider Trading
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Chief Executive Officer Chairman |
| Shares | 450 |
| Max Price | US$43.64 |
| Entity | Individual |
| Role | Chief Executive Officer Chairman |
| Shares | 1,900 |
| Max Price | US$39.84 |
| Entity | Company |
| Shares | 8,905 |
| Max Price | US$39.84 |
| Entity | Company |
| Shares | 4,326 |
| Max Price | US$38.86 |
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 8.5%.
Management Team
Ernest Rady (82yo)
Chairman
- Tenure: 4.3yrs
- Compensation: US$3.94m
Jerry Gammieri (54yo)
Vice President of Construction & Development
- Tenure: 8.9yrs
- Compensation: US$918.07k
Chris Sullivan (57yo)
Vice President of Retail Properties
- Tenure: 8.9yrs
Robert Barton (62yo)
Executive VP & CFO
- Tenure: 8.9yrs
- Compensation: US$2.28m
Adam Wyll (44yo)
Executive VP & COO
- Tenure: 0.2yrs
- Compensation: US$1.49m
Steve Center
Vice President of Office Properties
- Tenure: 2.1yrs
Valerie Gannaway
Vice President of Real Estate Operations
- Tenure: 2.9yrs
Abigail Rex
Director of Multifamily
- Tenure: 0yrs
Board Members
Ernest Rady (82yo)
Chairman
- Tenure: 4.3yrs
- Compensation: US$3.94m
Robert Sullivan (75yo)
Independent Director
- Tenure: 8.9yrs
- Compensation: US$109.98k
Duane Nelles (75yo)
Independent Director
- Tenure: 8.9yrs
- Compensation: US$113.98k
Tom Olinger (52yo)
Independent Director
- Tenure: 8.9yrs
- Compensation: US$100.98k
Joy Schaefer (59yo)
Director
- Tenure: 0.5yrs
Company Information
American Assets Trust, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: American Assets Trust, Inc.
- Ticker: AAT
- Exchange: NYSE
- Founded: 1967
- Industry: Diversified REITs
- Sector: Real Estate
- Implied Market Cap: US$3.594b
- Market Cap: US$2.822b
- Shares outstanding: 76.35m
- Website: https://www.americanassetstrust.com
Number of Employees
Location
- American Assets Trust, Inc.
- 11455 El Camino Real
- Suite 200
- San Diego
- California
- 92130
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| AAT | NYSE (New York Stock Exchange) | Yes | Common Stock | US | USD | Jan 2011 |
Biography
American Assets Trust, Inc. is a full service, vertically integrated and self-administered real estate investment trust, or REIT, headquartered in San Diego, California. The company has over 50 years of ex ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/12/08 00:23 |
| End of Day Share Price | 2019/12/06 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.