# American Assets Trust Q3 2026 Earnings Results

> American Assets Trust reports $0.56 FFO per share for Q3 2026 with 85.8% office occupancy.
- Title: American Assets Trust Q3 2026 Earnings Results | Shortify
- Summary: American Assets Trust reports $0.56 FFO per share for Q3 2026 with 85.8% office occupancy. American Assets Trust raised full-year FFO guidance to $2.04-$2.10…
- Keywords: american assets trust, aat, q3 2026, ffo, office occupancy, retail portfolio, multifamily, embassy suites, dividend, capital expenditures, finance, money
- Source: The Motley Fool — https://fool.com/earnings/call-transcripts/2026/10/28/american-assets-trust-aat-q3-2026-earnings-call-transcript
- Author: Motley Fool Transcribing
- Published: 2026-10-28T17:14:40+00:00
- Read time: 1 min
- Topics: american assets trust, aat, q3 2026, ffo, office occupancy, retail portfolio, multifamily, embassy suites, dividend, capital expenditures, finance, money
## Q3 Performance
American Assets Trust reported $0.56 FFO per diluted share for Q3 2026, a $0.05 increase from Q2 2026.
## Office Occupancy
Office portfolio ended Q3 2026 at 85.8% leased, up 400 basis points year over year.
## Retail Portfolio
Retail portfolio ended Q3 2026 at 98.3% leased with strong tenant health and rental performance.
## Multifamily Performance
San Diego multifamily occupancy rebounded to 97% with 4% rent growth and improved occupancy.
## Embassy Suites
Embassy Suites RevPAR increased 13.3% to $337 with 88.5% occupancy year over year.
## FFO Guidance
Raised full-year 2026 FFO guidance to $2.04-$2.10 per share, a 2% increase at $2.07 midpoint.
## Leasing Activity
Completed 124,000 sq ft office leases with 2.1% cash rent spreads in Q3 2026.
## Spec Suite Performance
75% of spec suite square footage leased within six months of construction completion.
## Dividend Declaration
Declared $0.34 per share dividend for Q4 2026, payable Dec 17, 2026.
## Liquidity Position
Total liquidity of $590 million, including $90 million cash and $500 million credit facility.
## Net Debt to EBITDA
Net debt to EBITDA ratio at 6.4x quarterly annualized, above long-term target of 5.5x.
## Pacific Ridge
Pacific Ridge occupancy rebounded from 77% to 97% in Q3 2026 with 4% rent growth.
## Portland Activity
Portland office lease closed at 710 renovation project for 17,000 sq ft.
## Lease Pipeline
$12 million annualized base rent from 210,000 sq ft of signed but not commenced leases.
## Genentech Space
Genentech space of 70,000 sq ft moves out at end of Q3 2026 creating near-term vacancy.
## Q4 Outlook
Company expects to convert lease pipeline into cash flow with 35% of leases starting in Q4 2026.
## Key takeaway

American Assets Trust raised full-year FFO guidance to $2.04-$2.10 per share after strong Q3 performance.