American Assets Trust (AAT) Q2 FY26 earnings call

American Assets Trust delivered Q2 FY26 FFO ahead of expectations, driven by strong leasing activity in its office and retail portfolios. The company is focused on converting signed office leases into commenced rent and cash flow, with significant embedded earnings potential from its existing office assets. While some markets face headwinds like multifamily oversupply and hotel rate pressure, the company maintains a disciplined capital allocation strategy and strong liquidity, positioning it for long-term shareholder value creation.