American Assets Trust (AAT) Operating Expenses (2010 - 2025)

American Assets Trust (AAT) reported Operating Expenses of $86.9 million for Q4 2025, up 4.15% on a YoY basis from $83.4 million in Q4 2024, and up 2.43% quarter-over-quarter from $84.8 million in Q3 2025.

American Assets Trust (AAT) Operating Expenses (2010 - 2025) Analysis & Trends

American Assets Trust has reported Operating Expenses for 16 years, with the latest figure at $86.9 million in Q4 2025.

  • For the quarter ending Q4 2025, Operating Expenses rose 4.15% year-over-year to $86.9 million; the trailing twelve-month figure through Dec 2025 stood at $334.7 million (up 1.85% YoY), and the FY2025 full-year result was $334.7 million, up 1.85% from the prior year.
  • Operating Expenses for Q4 2025 stood at $86.9 million, up from $84.8 million in the prior quarter.
  • The five-year high for Operating Expenses was $86.9 million in Q4 2025, with the low at $63.9 million in Q1 2021.
  • Historically, Operating Expenses has averaged $78.3 million across 5 years, with a median of $80.0 million in 2022.
  • The largest YoY upside for Operating Expenses was 17.09% in 2021 against a maximum downside of 5.85% in 2021.
  • American Assets Trust's Operating Expenses stood at $76.0 million in 2021, then increased by 3.81% to $78.9 million in 2022, then grew by 5.28% to $83.1 million in 2023, then advanced by 0.39% to $83.4 million in 2024, then grew by 4.15% to $86.9 million in 2025.
  • The last three Operating Expenses figures came in at $86.9 million (Q4 2025), $84.8 million (Q3 2025), and $82.0 million (Q2 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Vici Properties 29.26 Bn 28.78 Bn 1.01 Bn 16.94 Mn
2 Broadstone Net Lease 3.95 Bn 4.05 Bn - 58.06 Mn
3 American Assets Trust 1.46 Bn 1.40 Bn - 86.87 Mn
4 Safehold 1.13 Bn 1.14 Bn 109.54 Mn 85.31 Mn
5 Empire State Realty Trust 916.51 Mn 1.65 Bn - 47.74 Mn
6 JBG SMITH Properties 880.19 Mn 1.38 Bn - 135.70 Mn
7 CTO Realty Growth 672.82 Mn 672.82 Mn 31.01 Mn 5.08 Mn
8 Gladstone Commercial 608.72 Mn 778.76 Mn - 25.24 Mn
9 AH Realty Trust 540.92 Mn 723.25 Mn - 40.55 Mn
10 One Liberty Properties 510.56 Mn 490.30 Mn - 18.68 Mn

Historic Data

Download Data
DateValue
Dec 31, 2025 86.87 Mn
Sep 30, 2025 84.81 Mn
Jun 30, 2025 81.96 Mn
Mar 31, 2025 81.11 Mn
Dec 31, 2024 83.41 Mn
Sep 30, 2024 85.00 Mn
Jun 30, 2024 80.10 Mn
Mar 31, 2024 80.15 Mn
Dec 31, 2023 83.09 Mn
Sep 30, 2023 80.06 Mn
Jun 30, 2023 78.23 Mn
Mar 31, 2023 78.04 Mn
Dec 31, 2022 78.93 Mn
Sep 30, 2022 80.02 Mn
Jun 30, 2022 75.84 Mn
Mar 31, 2022 73.13 Mn
Dec 31, 2021 76.03 Mn
Sep 30, 2021 70.62 Mn
Jun 30, 2021 65.39 Mn
Mar 31, 2021 63.92 Mn