American Assets Trust, Inc. (NYSE: AAT)

American Assets Trust, Inc. is a full service vertically integrated self administered real estate investment trust.

The company owns operates acquires and develops high quality office retail multifamily and mixed use properties.

It focuses on assets located in attractive high barrier to entry markets in Southern California Northern California Washington Oregon Texas and Hawaii.

The company generates revenue by leasing office retail multifamily and mixed use space to tenants.

It collects base rent and recovers operating expenses such as utilities maintenance and property taxes from those tenants.

Its customers include corporations small businesses and individuals looking for workspace or housing in its target markets.

The company operates through the following segments: office retail multifamily and mixed use.

• The office segment consists of twelve office buildings that are leased to corporate professional and service firms providing base rent and expense recoveries.

• The retail segment includes eleven shopping centers that host a mix of national regional and local retailers generating income from lease agreements and expense reimbursements.

• The multifamily segment comprises seven apartment communities that provide residential units to individuals and families collecting monthly rent and utility recoveries.

• The mixed use segment features a property that combines a 369 room all suite hotel with a retail center producing revenue from hotel room sales food and beverage services and retail leases.

American Assets Trust Inc. holds a differentiated position in the real estate sector due to its concentration of high quality assets in markets with limited new supply.

Its competitive advantages include an experienced senior management team deep local relationships and a focus on properties located in infill locations where zoning and entitlement constraints restrict new construction.

The company competes with other public and private real estate owners operators and developers that seek similar assets in the same geographic areas.

The company serves a diverse group of tenants including corporations professional firms retailers and residential renters.

Notable tenants include LPL Holdings Inc. which occupies space at the La Jolla Commons office building and Google LLC which leases space at The Landmark at One Market.