American Assets Trust Q1 net income declines, partly hurt by higher interest expense

American Assets Trust

28/04/2026 21:33

Overview

U.S. REIT's preliminary Q1 net income and FFO per share declined yr/yr

Company says net income drop due to prior-year property sale and higher interest expense

Outlook

Company affirms full-year 2026 FFO per diluted share guidance of $1.96 to $2.10

Guidance excludes impacts from future acquisitions, dispositions, or debt financing

Result Drivers

PRIOR-YEAR PROPERTY SALE - Co said net income fell mainly due to the absence of a gain on sale of Del Monte Center recognized in Q1 2025

HIGHER INTEREST EXPENSE - Co cited increased interest expense after La Jolla Commons III was placed into service

OCCUPANCY AND RENTAL EXPENSES - Co said decreased occupancy at First & Main and higher rental expenses across all segments weighed on results

Company press release: ID:nGNX7D81dq

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$0.08
Q1 Net Income
$6.74 mln
Q1 FFO
$38.83 mln
Q1 FFO Per Share
$0.51


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the diversified reits peer group is "buy."

Wall Street's median 12-month price target for American Assets Trust Inc is $19.00, about 10.3% below its April 27 closing price of $21.19

The stock recently traded at 46 times the next 12-month earnings vs. a P/E of 41 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)