v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Real estate, at cost    
Operating real estate $ 3,694,203 $ 3,449,009
Construction in progress 68,937 176,868
Held for development 487 487
Total real estate, at cost 3,763,627 3,626,364
Accumulated depreciation (1,144,259) (1,038,878)
Net real estate 2,619,368 2,587,486
Cash and cash equivalents 129,362 425,659
Accounts receivable, net 7,407 6,905
Deferred rent receivables, net 84,642 88,059
Other assets, net 80,497 87,737
Real estate assets held for sale 0 77,519
TOTAL ASSETS 2,921,276 3,273,365
LIABILITIES:    
Secured notes payable, net 74,849 74,759
Unsecured notes payable, net 1,612,761 1,935,756
Accounts payable and accrued expenses 71,094 63,693
Security deposits payable 10,063 8,896
Other liabilities and deferred credits 61,304 62,588
Liabilities related to real estate assets held for sale 0 3,352
Total liabilities 1,830,071 2,149,044
Commitments and contingencies (Note 12)
American Assets Trust, Inc. stockholders' equity    
Common stock, $0.01 par value, 490,000,000 shares authorized, 61,390,936 and 61,138,238 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively 614 611
Additional paid-in capital 1,479,870 1,474,869
Accumulated dividends in excess of net income (331,086) (304,339)
Accumulated other comprehensive income 1,419 4,760
Total American Assets Trust, Inc. stockholders' equity 1,150,817 1,175,901
Noncontrolling interests (59,612) (51,580)
Total equity 1,091,205 1,124,321
TOTAL LIABILITIES AND EQUITY $ 2,921,276 $ 3,273,365