American Assets Trust, Inc. (AAT)

NYSE · Real Estate Investment Trusts

One email a week from me: what it filed, which 13F holders added or cut, where its scores stand. Free.

Corporate structure

68 entities across 4 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-02-06 — see the exhibit.

Which other public companies file entities in the same places:

Delaware52 California12 Hawaii3 Maryland1

Subsidiaries of American Assets Trust, Inc. as disclosed in its SEC filing
Entity	Jurisdiction	Note
AAT Alamo Quarry, LLC	Delaware
AAT Bel-Spring 520, LLC	Delaware
AAT CC Bellevue, LLC	Delaware
AAT CCE III Bellevue, LLC	Delaware
AAT Del Monte, LLC	Delaware
AAT Eastgate, LLC	Delaware
AAT Gateway Marketplace, LLC	Delaware
AAT Geary Marketplace, LLC	Delaware
AAT Genesee Park, LLC	Delaware
AAT La Jolla Commons 3, LLC	Delaware
AAT La Jolla Commons, LLC	Delaware
AAT Lloyd District, LLC	Delaware
AAT One Beach, LLC	Delaware
AAT Oregon Office I, LLC	Delaware
AAT Pacific Ridge, LLC	Delaware
AAT Torrey 13-14, LLC	Delaware
AAT Torrey Plaza, LLC	Delaware
AAT Torrey Point, LLC	Delaware
AAT Torrey Reserve 5, LLC	Delaware
AAT Torrey Reserve 6, LLC	Delaware
AAT Waikele Center, LLC	Delaware
ABW 2181 Holdings, LLC	Hawaii
ABW Holdings, LLC	Delaware
ABW Lewers, LLC	Hawaii
American Assets Services, Inc.	Delaware
American Assets Trust Management, LLC	Delaware
American Assets Trust, LP	Maryland
Beach Walk Holdings, LLC	Delaware
Broadway 225 Sorrento Holdings, LLC	Delaware
Broadway 225 Stonecrest Holdings, LLC	Delaware
Carmel Country Plaza, LP	California
Carmel Mountain Pad, LLC	California
EBW Hotel, LLC	Hawaii
ICW Café Lessee, LLC	Delaware
ICW Plaza Merger Sub, LLC	Delaware
Imperial Strand Holdings, LLC	Delaware
Landmark FireHill Holdings, LLC	Delaware
Landmark Venture Holdings, LLC	Delaware
Landmark Venture JV, LLC	Delaware
Lloyd District TRS, LLC	Delaware
Loma Palisades CA general partnership	California
Loma Palisades GP LLC	Delaware
Mariner's Point Holdings, LLC	Delaware
Pacific Carmel Mountain Assets, LLC	Delaware
Pacific Carmel Mountain Holdings, LP	California
Pacific Del Mar Assets, LLC	Delaware
Pacific Firecreek Holdings, LLC	Delaware
Pacific North Court GP, LLC	Delaware
Pacific North Court Holdings, LP	California
Pacific Santa Fe Assets, LLC	Delaware
Pacific Santa Fe Holdings, LP	California
Pacific Solana Beach Assets, LLC	Delaware
Pacific Solana Beach Holdings, LP	California
Pacific South Court Assets, LLC	Delaware
Pacific South Court Holdings, LP	California
Pacific Torrey Daycare Assets, LLC	Delaware
Pacific Torrey Daycare Holdings, LP	California
Pacific VC Holdings, LLC	Delaware
Pacific Waikiki Assets, LLC	Delaware
Pacific Waikiki Holdings, LP.	California
SB Corporate Centre III-IV, LLC	Delaware
SB Corporate Centre, LLC	California
SB Towne Centre, LLC	California
SBCC Holdings, LLC	Delaware
SBTC Holdings, LLC	Delaware
Southbay Marketplace Holdings, LLC	Delaware
Waikele Venture Holdings, LLC	Delaware
WBW Hotel Lessee, LLC	Delaware

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

6 / 8

PASSReturn on assets positiveROA 2.4%
PASSOperating cash flow positiveOCF 167M
PASSReturn on assets improving2.2% → 2.4%
PASSCash flow exceeds earningsOCF 167M vs NI 71M
PASSLong-term debt ratio falling61.9% → 58.2% of assets
FAILCurrent ratio improvingno data
FAILNo share dilution77M → 77M shares
FAILGross margin improving63.4% → 61.1%
PASSAsset turnover improving0.14× → 0.15×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$344.6M	$27.7M	—	64.8%	76,119,763
FY2021	$375.8M	$36.6M	—	65.5%	76,172,277
FY2022	$422.6M	$55.9M	—	63.9%	76,230,507
FY2023	$441.2M	$64.7M	—	62.8%	76,340,513
FY2024	$457.9M	$72.8M	—	63.4%	76,514,592
FY2025	$436.2M	$71.4M	—	61.1%	76,736,547

Ownership flow

1 institutions tracked — 1 added, 0 reduced.

Institutional holders of American Assets Trust, Inc. and their share-count change
Manager	Kind	Shares	Change	Value
GEODE CAPITAL MANAGEMENT, LLC	Index	1,394,216	+57,645	$34.4M

From 13F filings, which cover institutions managing over $100m and are filed up to 45 days after the quarter ends — so this is a considered position, not a live one, and it is not the whole shareholder register.

Capital returned

What the company actually paid out and bought back, as reported — the record behind any yield figure.

Dividend per share

2026Q1: $0.34
2025Q3: $0.34
2025Q2: $0.34
2025Q1: $0.34
2024Q3: $0.34
2024Q2: $0.34

Identity

CIK: 0001500217
SIC: 6798 · Real Estate Investment Trusts
Incorporated: MD
Headquarters: SAN DIEGO, CA

Ownership

Institutional: 118.9%
Institutions: 368
Insiders: 1.8%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Other real estate investment trusts companies

American Assets Trust, Inc. files under SIC 6798 — all 80 real estate investment trusts companies compared on assets and F-score.

Prologis, Inc.PLD Blackstone Real Estate Income Trust, Inc.BSTT WELLTOWER INC.WELL AMERICAN TOWER CORP /MA/AMT Rithm Capital Corp.RITM VICI PROPERTIES INC.VICI

Questions about American Assets Trust, Inc.

How many subsidiaries does American Assets Trust, Inc. file with the SEC?: 68, listed in its most recent exhibit 21. They are incorporated across 4 jurisdictions (Delaware, Hawaii, Maryland, California). That exhibit is filed with the company's annual report and is the company's own list, not an estimate.
Is American Assets Trust, Inc. financially healthy?: American Assets Trust, Inc. scores 6 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.
Who are the largest institutional holders of American Assets Trust, Inc.?: Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are GEODE CAPITAL MANAGEMENT, LLC (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

This page is one panel of the terminal

The structure map above is the Corporate Blueprint, and in the desktop it is interactive — click any entity to re-centre the map on it and walk the ownership chain. It sits alongside the screener, the scorecard and the filings lab on one desk, on your machine.

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Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.

Corporate structure

68 entities across 4 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-02-06 — see the exhibit.

Which other public companies file entities in the same places:

Delaware52 California12 Hawaii3 Maryland1

Entity

Jurisdiction

Note

AAT Alamo Quarry, LLC

Delaware

AAT Bel-Spring 520, LLC

Delaware

AAT CC Bellevue, LLC

Delaware

AAT CCE III Bellevue, LLC

Delaware

AAT Del Monte, LLC

Delaware

AAT Eastgate, LLC

Delaware

AAT Gateway Marketplace, LLC

Delaware

AAT Geary Marketplace, LLC

Delaware

AAT Genesee Park, LLC

Delaware

AAT La Jolla Commons 3, LLC

Delaware

AAT La Jolla Commons, LLC

Delaware

AAT Lloyd District, LLC

Delaware

AAT One Beach, LLC

Delaware

AAT Oregon Office I, LLC

Delaware

AAT Pacific Ridge, LLC

Delaware

AAT Torrey 13-14, LLC

Delaware

AAT Torrey Plaza, LLC

Delaware

AAT Torrey Point, LLC

Delaware

AAT Torrey Reserve 5, LLC

Delaware

AAT Torrey Reserve 6, LLC

Delaware

AAT Waikele Center, LLC

Delaware

ABW 2181 Holdings, LLC

Hawaii

ABW Holdings, LLC

Delaware

ABW Lewers, LLC

Hawaii

American Assets Services, Inc.

Delaware

American Assets Trust Management, LLC

Delaware

American Assets Trust, LP

Maryland

Beach Walk Holdings, LLC

Delaware

Broadway 225 Sorrento Holdings, LLC

Delaware

Broadway 225 Stonecrest Holdings, LLC

Delaware

Carmel Country Plaza, LP

California

Carmel Mountain Pad, LLC

California

EBW Hotel, LLC

Hawaii

ICW Café Lessee, LLC

Delaware

ICW Plaza Merger Sub, LLC

Delaware

Imperial Strand Holdings, LLC

Delaware

Landmark FireHill Holdings, LLC

Delaware

Landmark Venture Holdings, LLC

Delaware

Landmark Venture JV, LLC

Delaware

Lloyd District TRS, LLC

Delaware

Loma Palisades CA general partnership

California

Loma Palisades GP LLC

Delaware

Mariner's Point Holdings, LLC

Delaware

Pacific Carmel Mountain Assets, LLC

Delaware

Pacific Carmel Mountain Holdings, LP

California

Pacific Del Mar Assets, LLC

Delaware

Pacific Firecreek Holdings, LLC

Delaware

Pacific North Court GP, LLC

Delaware

Pacific North Court Holdings, LP

California

Pacific Santa Fe Assets, LLC

Delaware

Pacific Santa Fe Holdings, LP

California

Pacific Solana Beach Assets, LLC

Delaware

Pacific Solana Beach Holdings, LP

California

Pacific South Court Assets, LLC

Delaware

Pacific South Court Holdings, LP

California

Pacific Torrey Daycare Assets, LLC

Delaware

Pacific Torrey Daycare Holdings, LP

California

Pacific VC Holdings, LLC

Delaware

Pacific Waikiki Assets, LLC

Delaware

Pacific Waikiki Holdings, LP.

California

SB Corporate Centre III-IV, LLC

Delaware

SB Corporate Centre, LLC

California

SB Towne Centre, LLC

California

SBCC Holdings, LLC

Delaware

SBTC Holdings, LLC

Delaware

Southbay Marketplace Holdings, LLC

Delaware

Waikele Venture Holdings, LLC

Delaware

WBW Hotel Lessee, LLC

Delaware

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

6 / 8

PASSReturn on assets positiveROA 2.4%
PASSOperating cash flow positiveOCF 167M
PASSReturn on assets improving2.2% → 2.4%
PASSCash flow exceeds earningsOCF 167M vs NI 71M
PASSLong-term debt ratio falling61.9% → 58.2% of assets
FAILCurrent ratio improvingno data
FAILNo share dilution77M → 77M shares
FAILGross margin improving63.4% → 61.1%
PASSAsset turnover improving0.14× → 0.15×

Year

Revenue

Net income

Free cash flow

Gross margin

FY2020

$344.6M

$27.7M

—

64.8%

76,119,763

FY2021

$375.8M

$36.6M

—

65.5%

76,172,277

FY2022

$422.6M

$55.9M

—

63.9%

76,230,507

FY2023

$441.2M

$64.7M

—

62.8%

76,340,513

FY2024

$457.9M

$72.8M

—

63.4%

76,514,592

FY2025

$436.2M

$71.4M

—

61.1%

76,736,547

Ownership flow

1 institutions tracked — 1 added, 0 reduced.

Institutional holders of American Assets Trust, Inc. and their share-count change
Manager	Kind	Shares	Change	Value
GEODE CAPITAL MANAGEMENT, LLC	Index	1,394,216	+57,645	$34.4M

Questions about American Assets Trust, Inc.

How many subsidiaries does American Assets Trust, Inc. file with the SEC?

68, listed in its most recent exhibit 21. They are incorporated across 4 jurisdictions (Delaware, Hawaii, Maryland, California). That exhibit is filed with the company's annual report and is the company's own list, not an estimate.

Is American Assets Trust, Inc. financially healthy?

American Assets Trust, Inc. scores 6 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

Who are the largest institutional holders of American Assets Trust, Inc.?

Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are GEODE CAPITAL MANAGEMENT, LLC (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.