American Assets Trust vs CBL & Associates Properties
CBL & Associates Properties is the larger business, with $578m of revenue in fiscal 2025 against $436m for American Assets Trust (1.3 times as much). CBL & Associates Properties grew faster (12.2% against -4.7%). CBL & Associates Properties kept more of each dollar of sales as profit: a net margin of 23.5% against 12.8%. American Assets Trust carries less debt relative to equity (147.7% against 579.0%).
| Latest fiscal year | American Assets TrustAAT, 2025 | CBL & Associates PropertiesCBL, 2025 |
|---|---|---|
| Revenue | $436m | $578m |
| Revenue growth | -4.7% | 12.2% |
| Net income | $55.6m | $136m |
| Operating margin | 33.5% | — |
| Net margin | 12.8% | 23.5% |
| Return on equity | 4.8% | 38.9% |
| Free cash flow | $94.9m | $250m |
| Cash | $129m | $42.3m |
| Total debt | $1.70bn | $2.17bn |
| Debt to equity | 147.7% | 579.0% |
| Dividend per share | $1.36 | — |
| Dividend yield | 7.8% | 4.2% |
| Share buybacks | — | $18.1m |
| Employees | 232 | — |
| Market value | $1.33bn | $1.53bn |
| Price vs our value range | — | — |
| Moat score | 76 (Strong) | 71 (Strong) |
| Insider trades, 12 months | 48 buys, 0 sales | 2 buys, 16 sales |