WallStSmart

American Assets Trust Inc (AAT)vsEmpire State Realty Trust Inc (ESRT)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Empire State Realty Trust Inc generates 79% more annual revenue ($776.71M vs $433.85M). ESRT leads profitability with a 5.1% profit margin vs 4.2%. AAT appears more attractively valued with a PEG of 9.34. ESRT earns a higher WallStSmart Score of 46/100 (D+).

AAT

Hold

44

out of 100

Grade: D

Growth: 3.3Profit: 5.0Value: 4.7Quality: 5.5
Piotroski: 3/9

ESRT

Hold

46

out of 100

Grade: D+

Growth: 3.3Profit: 5.0Value: 6.0Quality: 4.8
Piotroski: 2/9
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

AATUndervalued (+59.1%)

Margin of Safety

+59.1%

Fair Value

$45.19

Current Price

$20.58

$24.61 discount

UndervaluedFair: $45.19Overvalued
ESRTUndervalued (+68.7%)

Margin of Safety

+68.7%

Fair Value

$20.35

Current Price

$5.62

$14.73 discount

UndervaluedFair: $20.35Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

AAT2 strengths · Avg: 9.0/10
Price/BookValuation
1.1x10/10

Reasonable price relative to book value

Operating MarginProfitability
23.4%8/10

Strong operational efficiency at 23.4%

ESRT1 strengths · Avg: 10.0/10
Price/BookValuation
0.9x10/10

Reasonable price relative to book value

Areas to Watch

AAT4 concerns · Avg: 3.3/10
Revenue GrowthGrowth
2.8%4/10

2.8% revenue growth

Market CapQuality
$1.61B3/10

Smaller company, higher risk/reward

Return on EquityProfitability
2.2%3/10

ROE of 2.2% — below average capital efficiency

Profit MarginProfitability
4.2%3/10

4.2% margin — thin

ESRT4 concerns · Avg: 3.5/10
P/E RatioValuation
26.8x4/10

Moderate valuation

Revenue GrowthGrowth
4.9%4/10

4.9% revenue growth

Market CapQuality
$1.70B3/10

Smaller company, higher risk/reward

Return on EquityProfitability
3.3%3/10

ROE of 3.3% — below average capital efficiency

Comparative Analysis Report

WallStSmart Research

Bull Case : AAT

The strongest argument for AAT centers on Price/Book, Operating Margin.

Bull Case : ESRT

The strongest argument for ESRT centers on Price/Book.

Bear Case : AAT

The primary concerns for AAT are Revenue Growth, Market Cap, Return on Equity. A P/E of 69.3x leaves little room for execution misses. Thin 4.2% margins leave little buffer for downturns.

Bear Case : ESRT

The primary concerns for ESRT are P/E Ratio, Revenue Growth, Market Cap.

Key Dynamics to Monitor

ESRT carries more volatility with a beta of 1.36 — expect wider price swings.

ESRT is growing revenue faster at 4.9% — sustainability is the question.

Monitor REIT - DIVERSIFIED industry trends, competitive dynamics, and regulatory changes.

Bottom Line

ESRT scores higher overall (46/100 vs 44/100). AAT offers better value entry with a 59.1% margin of safety. Both earn "Hold" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

American Assets Trust Inc

REAL ESTATE · REIT - DIVERSIFIED · USA

American Assets Trust, Inc. is a self-managed, vertically integrated, full-service real estate investment trust, or REIT, based in San Diego, California.

Empire State Realty Trust Inc

REAL ESTATE · REIT - DIVERSIFIED · USA

Empire State Realty Trust, Inc. (NYSE: ESRT), a major real estate investment trust (REIT), owns, manages, operates, acquires and repositions offices and retail properties in Manhattan and the New York metropolitan area, including the Empire State Building, the?

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