What is American Assets Trust, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on American Assets Trust, Inc.'s reported free cash flow gives $23.95 per share. The share price was $21.55 on November 10, 2026, 10% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 0.0% | 10.0% | $15.23 | -29% |
| Base | 5.0% | 9.0% | $23.95 | +11% |
| Bull | 10.0% | 8.0% | $40.23 | +87% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $30.19 | $32.09 | $34.41 | $37.31 | $41.03 |
| 8.0% | $25.54 | $26.77 | $28.22 | $29.97 | $32.10 |
| 9.0% | $22.14 | $22.98 | $23.95 | $25.08 | $26.42 |
| 10.0% | $19.55 | $20.14 | $20.82 | $21.60 | $22.49 |
| 11.0% | $17.51 | $17.94 | $18.43 | $18.99 | $19.61 |
Where the presets come from
Base: years 1 to 5 grow at American Assets Trust, Inc.'s revenue growth rate over the last 5 fiscal years (4.8% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions