American Assets TrustAAT -0.64%72 ROC (Joel Greenblatt) % is 628.59% as of Mar. 2026, which is 9% above its 10-year median of 574.31. GuruFocus rates AAT with a GF Score™ of 72/100 and a GF Value™ of $20.60 (Modestly Overvalued). The stock has 13 warning signs investors should review. Among 588 REITs companies, American Assets Trust ranks better than 68.2% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. American Assets Trust's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 628.59%.
The historical rank and industry rank for American Assets Trust's ROC (Joel Greenblatt) % or its related term are showing as below:
AAT'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 345 Med: 574.31 Max: 2365.1
Current: 589.54
During the past 13 years, American Assets Trust's highest ROC (Joel Greenblatt) % was 2365.10%. The lowest was 345.00%. And the median was 574.31%.
AAT's ROC (Joel Greenblatt) % is ranked better than 68.2% of 588
companies
in the REITs industry
Industry Median: 178.7
vs AAT: 589.54
American Assets Trust's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 14.70% per year.
American Assets Trust (NYSE:AAT) ROC (Joel Greenblatt) % Explanation
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
American Assets Trust ROC (Joel Greenblatt) % Related Terms
American Assets Trust ROC (Joel Greenblatt) % Historical Data
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The historical data trend for American Assets Trust's ROC (Joel Greenblatt) % 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.
American Assets Trust ROC (Joel Greenblatt) % Chart
AAT vs GNL, SAFE, ESRT: ROC (Joel Greenblatt) % Comparison
For the REIT - Diversified subindustry, American Assets Trust's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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 ROC (Joel Greenblatt) % vs REITs Industry
For the REITs industry and Real Estate sector, American Assets Trust's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where American Assets Trust's ROC (Joel Greenblatt) % falls into.
American Assets Trust ROC (Joel Greenblatt) % Calculation
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* 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.
What does a ROC (Joel Greenblatt) % of 628.59% mean?
American Assets Trust (AAT) has a ROC (Joel Greenblatt) % of 628.59% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on American Assets Trust and its competitors. This is near median its historical median of 574.31. Over the past decade, American Assets Trust's ROC (Joel Greenblatt) % has ranged from 345.00 to 2,365.10. According to the industry distribution chart, American Assets Trust ranks #187 out of 588 companies in the REITs industry, placing it in the top 31.8%.
Is American Assets Trust's ROC (Joel Greenblatt) % too high?
American Assets Trust's current ROC (Joel Greenblatt) % of 628.59% is near median its 10-year median of 574.31. Over the past 10 years, this metric has ranged from a low of 345.00 to a high of 2,365.10. The REITs industry median ROC (Joel Greenblatt) % is 178.70. American Assets Trust's value of 628.59% is 251.8% above this industry median. Based on the distribution chart, American Assets Trust ranks #187 out of 588 companies in the REITs industry, which is above the industry midpoint. Overall, American Assets Trust has a GF Score™ of 72/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does American Assets Trust's ROC (Joel Greenblatt) % compare to GNL and SAFE?
According to the REITs industry distribution chart, American Assets Trust ranks #187 out of 588 companies for ROC (Joel Greenblatt) %. This puts American Assets Trust in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 178.70. American Assets Trust's value of 628.59% is 251.8% above this benchmark. Historically, American Assets Trust's own ROC (Joel Greenblatt) % has ranged from 345.00 to 2,365.10 over the past decade. While the company's 10-year median is 574.31 vs. the industry median of 178.70, American Assets Trust has consistently been above 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 ROC (Joel Greenblatt) % for a REITs company?
The median ROC (Joel Greenblatt) % among REITs companies is 178.70, based on 588 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. American Assets Trust's current ROC (Joel Greenblatt) % of 628.59% is 251.8% above 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 ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on American Assets Trust and its competitors. For the REITs industry, the median ROC (Joel Greenblatt) % is 178.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. American Assets Trust's current ROC (Joel Greenblatt) % is 628.59%, which is near median its own 10-year median of 574.31. 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 $25.00 — trading 21.4% above its estimated fair value. The current ROC (Joel Greenblatt) % is 628.59%, which is near median its 10-year median of 574.31 and 251.8% above the REITs industry median of 178.70. American Assets Trust's overall GF Score™ is 72/100 with 13 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For American Assets Trust (AAT), the current ROC (Joel Greenblatt) % is 628.59% as of Mar. 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 $25.00 is trading 21.4% above its estimated GF Value™ of $20.60.
GuruFocus considers American Assets Trust to be Modestly Overvalued.
Key valuation signals for AAT:
ROC (Joel Greenblatt) %: 628.59% (near median its 10-year median of 574.31)
GF Value™: $20.60 vs. price of $25.00 (21.4% above fair value)
Industry Position: 251.8% above the REITs median (#187 of 588)
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.
72GF Score
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