American Assets Trust (NYSE: AAT) is San Diego’s landlord-of-everything: premier office, retail, apartments, and mixed-use (plus Oahu retail and Bellevue office) concentrated in Southern California’s most supply-protected submarkets, a founder-built portfolio graded here with the office allocation setting the tone.
| American Assets Trust (AAT) Snapshot | |
|---|---|
| Share Price (delayed) | $25.10 -0.17% |
| Market Cap | $1.5B |
| Annualized Dividend | $1.36 (Quarterly) |
| Dividend Yield | 5.41% |
| Sector | Office ยท West Coast Mixed |
Market data updates automatically several times daily. Last price refresh: Jul 14, 2026.
Business Model
The Rady-family-founded portfolio owns irreplaceable positions (La Jolla/UTC office, Carmel Valley, Waikiki Beach Walk) where coastal entitlement makes replication impossible, spreading one balance sheet across four property types. Diversification steadied results through the office trough; the office segment remains the swing factor the market prices first.
The Honest Risk Section
San Diego concentration is the moat and the exposure, the office allocation carries the sector’s structural demand problem into an otherwise defensive mix, and mid-cap scale across four property types means being sub-scale in each. A quality mixed bag, graded on the blend.
Frequently Asked Questions
What does American Assets Trust own?
Office, retail, multifamily, and mixed-use concentrated in San Diego’s coastal submarkets, plus Waikiki retail and Bellevue office.
Is AAT’s dividend safe?
The payout is covered by the diversified cash flow base, with the office segment’s trajectory as the variable to watch.
Analysis reflects disclosures through Q1 2026. Live market data updates automatically. Independent research, not investment advice.