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| Date | Value |
|---|---|
| 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 |