American Assets Trust Q2 FFO per share slips amid occupancy and expense pressures

American Assets Trust

28/07/2026 21:33

Overview
US REIT's Q2 revenue rose
Q2 FFO per share fell to $0.51 from $0.52 a year earlier
Company amended credit facility, raising borrowing capacity to $600 mln and extending maturities

Outlook
American Assets Trust affirms 2026 FFO per diluted share guidance of $1.96 to $2.10

Result Drivers
RENTAL RATE INCREASES - Co achieved record average rental rates across office, retail, and multifamily segments in Q2
LEASING SPREADS - Office and retail leases signed in Q2 had average cash-basis rent increases of 9.1% and 3.0%, respectively
OCCUPANCY AND EXPENSE PRESSURES - Co cited lower occupancy at certain properties and higher rental expenses as factors weighing on results

Company press release: ID:nGNX42WD81

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
$109.48 mln
$110.86 mln (2 Analysts)
Q2 Net Income
 
$6.79 mln
 
Q2 FFO
 
$39.29 mln
 
Q2 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 $23.50, about 3.4% below its July 27 closing price of $24.33
The stock recently traded at 54 times the next 12-month earnings vs. a P/E of 40 three months ago

Reuters Recommended Reads
July 27 - Kilroy Realty Q2 revenue falls on lower portfolio occupancy rates
July 27 - REIT UDR sees 2026 FFO below estimate as higher costs weigh
July 27 - Brixmor Q2 revenue slightly beats estimates, raises 2026 outlook

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(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.)