Key Highlights

  • Holders on the December 10, 2026 register get USD 0.34 a share on December 17, 2026, which annualizes to a calculated USD 1.36.
  • A calculated 60.7% Payout Ratio results from USD 0.34 set against FFO of USD 0.56 a diluted share, compared with USD 0.49 earlier, and nine-month FFO totals USD 1.57 a share.
  • The 2026 FFO per diluted share range has been lifted to USD 2.04 through USD 2.10 from USD 1.96 through USD 2.10, moving the midpoint up USD 0.04 to USD 2.07.
  • Third-quarter same-store cash NOI expanded by 8.3%, with multifamily up 10.2% and retail up 9.6%, and office occupancy rose to 85.8% from 81.9% a year before.

Keeping the Quarterly Rate Steady and the Coming Payment Dates at American Assets Trust, Inc. (NYSE:AAT)

The company paid USD 0.34 a share on September 17, 2026, and has announced the identical amount for the fourth quarter. The register cutoff is December 10, 2026, with cash arriving December 17, 2026. Multiplied across four quarters, the calculated yearly total is USD 1.36. Since the holdings span office, retail, multifamily and mixed-use property, distributions draw on a blend of income sources. American Assets Trust, Inc. (NYSE:AAT) did not raise its Dividend or declare a special payout in the third-quarter release.

Revenue, FFO Growth and Payout Arithmetic at American Assets Trust, Inc. (NYSE:AAT)

At American Assets Trust, Inc. (NYSE:AAT), third-quarter Revenue totaled USD 114.3 million, while diluted EPS reached USD 0.13. Funds from operations, the standard REIT cash yardstick that adds back depreciation, climbed to USD 0.56 a diluted share versus USD 0.49 a year before and hit USD 1.57 across nine months. Nine-month Net Income was USD 43.6 million lower, chiefly owing to the Del Monte Center sale gain booked in 2025, plus heavier interest after La Jolla Commons III stopped being capitalized and softer occupancy at First and Main and 14Acres. Measured against the 2026 FFO outlook, the payout ratio of American Assets Trust, Inc. (NYSE:AAT) spans 64.8% to 66.7%, with about 65.7% when using the USD 2.07 midpoint. Quarterly same-store cash NOI improved by 8.3%, and the nine-month gain was 2.3%.

Debt Mix, Liquidity and Mortgage Exposure at American Assets Trust, Inc. (NYSE:AAT)

Carrying-value Debt is roughly USD 1.69 billion, with USD 74.9 million secured and USD 1,613.6 million unsecured. Only one of the 31 assets, owned by American Assets Trust, Inc. (NYSE:AAT), carries a mortgage. Liquidity of USD 589.6 million combines USD 89.6 million of cash with a USD 500.0 million Credit line that remains undrawn. Gross real estate assets reach USD 3.8 billion, so the calculated debt-to-gross ratio is near 44%. Retail occupancy stands at 98.3% and multifamily at 94.2%. Watch items are office vacancies, cost Inflation in development, refinancing at higher rates and Interest Rate exposure.

Where Things Stand

The payout looks covered for now. American Assets Trust, Inc. (NYSE:AAT) distributes around 66% of the 2026 FFO guidance midpoint, a calculated share, which leaves roughly USD 0.71 a share of calculated retained cash for capital work. Improved guidance, 8.3% same-store cash NOI growth and office occupancy at 85.8% back up that view, while USD 589.6 million of liquidity and just one mortgaged asset give flexibility. The company has not published dividend guidance, so declarations rest with the board. Office leasing, borrowing costs and development spending are the factors to monitor.