American Assets Trust Q2 2026: Pacific Ridge Drags a 10% EPS Miss
As seen on the 24/7 Wall St. homepage on July 28, 2026.
Apartment occupancy at Pacific Ridge collapsed to 77.3% from 95.7% sequentially, dragging a 10% EPS miss, yet management kept full-year FFO guidance intact signaling confidence in a turnaround through the back half.
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American Assets Trust reported Q2 2026 earnings per share of $0.09, falling short of the $0.10 consensus estimate by 10%. Revenue came in at $109.5 million, also slightly below the $110.9 million estimate. The quarter extends a pattern of misses that has been in place since Q3 2025.
The story of the quarter centers on Pacific Ridge, the company's apartment property, where occupancy fell sharply to 77.3% from 95.7% sequentially. That steep drop placed clear pressure on results and is the primary driver behind the miss against analyst estimates.
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Despite the occupancy disruption, management held full-year FFO guidance steady, signaling confidence that the back half of 2026 will see a turnaround at the property. Whether Pacific Ridge can recover toward its prior occupancy levels will be the key metric for investors heading into Q3 2026.
Mentioned: AAT