American Assets TrustAAT +0.33%71 Piotroski F-Score is 3 as of Jun. 25, 2026, which is 50% below its 10-year median of 6.00. GuruFocus rates AAT with a GF Score™ of 71/100 and a GF Value™ of $20.60 (Modestly Overvalued). The stock has 13 warning signs investors should review. Among 888 REITs companies, American Assets Trust ranks worse than 89.41% on this metric.
Warning Sign:
Piotroski F-Score of 3 is low, which usually implies poor business operation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
American Assets Trust has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
The historical rank and industry rank for American Assets Trust's Piotroski F-Score or its related term are showing as below:
AAT'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 6 Max: 8
Current: 3
During the past 13 years, the highest Piotroski F-Score of American Assets Trust was 8. The lowest was 3. And the median was 6.
American Assets Trust (NYSE:AAT) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
American Assets Trust Piotroski F-Score Related Terms
American Assets Trust Piotroski F-Score Historical Data
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The historical data trend for American Assets Trust's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
AAT vs SAFE, ESRT, GNL: Piotroski F-Score Comparison
For the REIT - Diversified subindustry, American Assets Trust's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
American Assets Trust Piotroski F-Score vs REITs Industry
For the REITs industry and Real Estate sector, American Assets Trust's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where American Assets Trust's Piotroski F-Score falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
American Assets Trust's current Net Income (TTM) was 24.0.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
American Assets Trust's current Cash Flow from Operations (TTM) was 168.8.
==> Positive ==> Score 1.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
American Assets Trust's return on assets of this year was 0.0080875. American Assets Trust's return on assets of last year was 0.03423534.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
American Assets Trust's gearing of this year was 0.58084461. American Assets Trust's gearing of last year was 0.54615516.
==> Last year is lower than this year ==> Score 0.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
American Assets Trust's current ratio of this year was 1.95491761. American Assets Trust's current ratio of last year was 2.55754198.
==> Last year's current ratio is higher ==> Score 0.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
American Assets Trust's number of shares in issue this year was 76.879. American Assets Trust's number of shares in issue last year was 76.719.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
American Assets Trust's gross margin of this year was 0.60757573. American Assets Trust's gross margin of last year was 0.63151047.
==> Last year's gross margin is higher ==> Score 0.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
American Assets Trust's asset turnover of this year was 0.14764835. American Assets Trust's asset turnover of last year was 0.15252197.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
American Assets Trust has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
American Assets Trust (AAT) has a Piotroski F-Score of 3 as of Jun. 25, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on American Assets Trust and its competitors. This is 50% below median its historical median of 6.00. Over the past decade, American Assets Trust's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, American Assets Trust ranks #794 out of 888 companies in the REITs industry, placing it in the top 89.4%.
Is American Assets Trust's Piotroski F-Score too high?
American Assets Trust's current Piotroski F-Score of 3 is 50% below median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 8.00. The REITs industry median Piotroski F-Score is 6.00. American Assets Trust's value of 3 is 50% below this industry median. Based on the distribution chart, American Assets Trust ranks #794 out of 888 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, American Assets Trust has a GF Score™ of 71/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does American Assets Trust's Piotroski F-Score compare to SAFE and ESRT?
According to the REITs industry distribution chart, American Assets Trust ranks #794 out of 888 companies for Piotroski F-Score. This places American Assets Trust in the lower half of its industry. The industry median Piotroski F-Score is 6.00. American Assets Trust's value of 3 is 50% below this benchmark. Historically, American Assets Trust's own Piotroski F-Score has ranged from 3.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 6.00, American Assets Trust has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a REITs company?
The median Piotroski F-Score among REITs companies is 6.00, based on 888 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. American Assets Trust's current Piotroski F-Score of 3 is 50% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on American Assets Trust and its competitors. For the REITs industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. American Assets Trust's current Piotroski F-Score is 3, which is 50% below median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is American Assets Trust stock overvalued right now?
Based on GuruFocus' analysis, American Assets Trust (AAT) is currently considered Modestly Overvalued. The stock's GF Value™ is $20.60, compared to a current price of $24.45 — trading 18.7% above its estimated fair value. The current Piotroski F-Score is 3, which is 50% below median its 10-year median of 6.00 and 50% below the REITs industry median of 6.00. American Assets Trust's overall GF Score™ is 71/100 with 13 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For American Assets Trust (AAT), the current Piotroski F-Score is 3 as of Jun. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is American Assets Trust (AAT) Overvalued in 2026?
Based on GuruFocus' analysis, American Assets Trust stock appears to be overvalued.
The current stock price of $24.45 is trading 18.7% above its estimated GF Value™ of $20.60.
GuruFocus considers American Assets Trust to be Modestly Overvalued.
Key valuation signals for AAT:
Piotroski F-Score: 3 (50% below median its 10-year median of 6.00)
GF Value™: $20.60 vs. price of $24.45 (18.7% above fair value)
Industry Position: 50% below the REITs median (#794 of 888)
No single metric tells the full story. See the AAT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
American Assets Trust Inc is a self-administered real estate investment trust based in the United States. The company invests in, operates, and develops retail, office, residential, and mixed-use properties. Properties are predominantly located in South California, Northern California, Oregon, Washington, and Hawaii. American Assets operates through four segments based on property type: retail; office; mixed-use, which consists of retail and hotel components; and multifamily, which includes the company's apartment properties. The retail and office segments collectively contribute the majority of the total revenue.
71GF Score
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