American Assets Amends Credit Facility, Expands Borrowing Capacity

The latest update is out from American Assets ( (AAT) ).

On April 1, 2026, American Assets Trust, Inc. and its operating partnership amended and restated their credit agreement, boosting total unsecured borrowing capacity to $600 million, including a larger $500 million revolving credit facility and a $100 million term loan. The move replaces a prior 2022 agreement and introduces floating-rate pricing tied to SOFR or a base rate, with spreads linked to leverage and, at the borrower’s election, to investment-grade credit ratings.

The amended revolver’s maturity was extended to April 1, 2030, with two optional six-month extensions, while the $100 million term loan was also pushed to an initial April 1, 2030 maturity, with a single twelve-month extension option. The expanded, longer-dated facility, which carries customary covenants and default provisions, enhances the REIT’s financial flexibility and liquidity to support its office, retail, multifamily and mixed-use real estate operations across key U.S. coastal and gateway markets.

The most recent analyst rating on (AAT) stock is a Sell with a $18.00 price target. To see the full list of analyst forecasts on American Assets stock, see the AAT Stock Forecast page.

Spark’s Take on AAT Stock

According to Spark, TipRanks’ AI Analyst, AAT is a Neutral.

The score is driven primarily by a stable-to-moderate financial profile: strong cash generation is offset by elevated leverage and a 2025 top-line/profitability step-down. The earnings call adds a slightly cautious tone—only modest FFO growth guided and leverage/coverage remain constraints—while technicals are mixed and valuation is supported by a high dividend yield but tempered by a higher P/E.

To see Spark’s full report on AAT stock, click here.

More about American Assets

American Assets Trust, Inc. is a full-service, vertically integrated, self-administered real estate investment trust headquartered in San Diego, Calif. The company focuses on acquiring, improving, developing and managing premier office, retail, multifamily and mixed-use properties in high-barrier U.S. markets, with sizable portfolios in California, Washington, Oregon, Texas and Hawaii.

Its office holdings total about 4.3 million square feet and its retail portfolio spans roughly 2.4 million rentable square feet. In addition, American Assets Trust owns one mixed-use property with retail space and a 369-room all-suite hotel, along with 2,302 multifamily units, leveraging more than five decades of experience and deep relationships in its core markets.

Average Trading Volume: 463,586

Technical Sentiment Signal: Sell

Current Market Cap: $1.13B

For an in-depth examination of AAT stock, go to TipRanks’ Overview page.