The in-line results and reaffirmed guidance suggest limited near-term catalysts. Monitor leasing spreads and occupancy trends for signs of acceleration, particularly in the office segment where record rent spreads are being achieved.
Price Chart
Executive Summary
American Assets Trust reported Q2 2026 FFO of $0.51 per diluted share, in line with the $0.51 consensus, and total revenue of $109.5M, slightly below the $110.9M estimate. Same-store cash NOI grew a modest 0.3% YoY, with record leasing spreads in office (9.1% cash basis) and retail (20.2% straight-line basis). The company affirmed its full-year 2026 FFO guidance of $1.96-$2.10 per share, providing stability but no upside catalyst for the stock.
Key Financial Metrics
Key Facts
- Q2 2026 FFO of $0.51 per diluted share, in line with consensus of $0.51
- Total revenue of $109.5M, slightly below the $110.9M estimate
- Same-store cash NOI increased 0.3% YoY
- Office leasing spreads: 9.1% cash basis, 10.2% straight-line basis
- Retail leasing spreads: 3.0% cash basis, 20.2% straight-line basis
- Full-year 2026 FFO guidance affirmed at $1.96-$2.10 per share
- Credit facility amended to $600M with maturity extended to April 2030
- Quarterly dividend maintained at $0.34 per share
Financial Impact
Q2 2026 FFO in line with consensus; revenue slightly below estimate; same-store cash NOI growth of 0.3% YoY
Risk Factors
- Flat same-store cash NOI growth indicates limited organic earnings momentum
- Multifamily occupancy declined from 94.7% to 88.4% sequentially, a notable drop
- Interest expense remains elevated at $19.9M per quarter, pressuring net income
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3334740 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 30, 2026 26d ago | Press Release | $21.39 $21.61 | ▲ +1.03% | ▼ −0.27% | $21.41 (+0.09%) |
Sep 16, 2026 5w ago | Insider Buy | $22.13 $21.49 | ▼ −2.89% | ▼ −3.49% | $21.41 (−3.25%) |
Sep 2, 2026 7w ago | Insider Buy | $22.16 $21.50 | ▼ −2.98% | ▼ −1.83% | $21.41 (−3.38%) |
Aug 28, 2026 8w ago | Insider Buy | $22.46 $21.83 | ▼ −2.81% | ▼ −2.66% | $21.41 (−4.67%) |
Aug 26, 2026 8w ago | Insider Buy | $22.50 $22.16 | ▼ −1.51% | ▼ −1.78% | $21.41 (−4.84%) |
Aug 21, 2026 9w ago | Insider Buy | $23.00 $22.46 | ▼ −2.35% | ▼ −2.82% | $21.41 (−6.91%) |
Aug 19, 2026 9w ago | Insider Buy | $22.83 $22.50 | ▼ −1.45% | ▼ −2.56% | $21.41 (−6.22%) |
Aug 14, 2026 10w ago | Insider Buy | $22.65 $23.00 | ▲ +1.55% | ▲ +2.74% | $21.41 (−5.47%) |
Aug 12, 2026 10w ago | Insider Buy | $22.96 $22.83 | ▼ −0.57% | ▲ +1.40% | $21.41 (−6.75%) |
Aug 12, 2026 10w ago | Institutional Cluster | $22.56 $22.80 | ▲ +1.06% | ▲ +1.51% | $21.41 (−5.10%) |
US Market Status
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