WallStSmart

American Assets Trust Inc (AAT)vsJBG SMITH Properties (JBGS)

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Smart Verdict

WallStSmart Research — data-driven comparison

JBG SMITH Properties generates 16% more annual revenue ($504.51M vs $433.83M). AAT leads profitability with a 4.2% profit margin vs -22.2%. JBGS earns a higher WallStSmart Score of 49/100 (D+).

AAT

Hold

41

out of 100

Grade: D

Growth: 3.3Profit: 5.0Value: 4.7Quality: 4.5
Piotroski: 4/9Altman Z: 0.56

JBGS

Hold

49

out of 100

Grade: D+

Growth: 6.0Profit: 3.0Value: 5.3Quality: 3.0
Piotroski: 4/9Altman Z: 0.09
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Intrinsic Value Comparison

Multi-model valuation · Graham Formula

AATUndervalued (+50.9%)

Margin of Safety

+50.9%

Fair Value

$37.66

Current Price

$23.66

$14.00 discount

UndervaluedFair: $37.66Overvalued
JBGSUndervalued (+0.3%)

Margin of Safety

+0.3%

Fair Value

$16.16

Current Price

$14.89

$1.27 discount

UndervaluedFair: $16.16Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

AAT2 strengths · Avg: 9.0/10
Price/BookValuation
1.3x10/10

Reasonable price relative to book value

Operating MarginProfitability
23.6%8/10

Strong operational efficiency at 23.6%

JBGS2 strengths · Avg: 10.0/10
Price/BookValuation
0.8x10/10

Reasonable price relative to book value

EPS GrowthGrowth
59.5%10/10

Earnings expanding 59.5% YoY

Areas to Watch

AAT4 concerns · Avg: 3.3/10
Revenue GrowthGrowth
1.8%4/10

1.8% revenue growth

Market CapQuality
$1.89B3/10

Smaller company, higher risk/reward

Return on EquityProfitability
2.0%3/10

ROE of 2.0% — below average capital efficiency

Profit MarginProfitability
4.2%3/10

4.2% margin — thin

JBGS4 concerns · Avg: 2.5/10
Market CapQuality
$894.31M3/10

Smaller company, higher risk/reward

Operating MarginProfitability
1.1%3/10

Operating margin of 1.1%

Return on EquityProfitability
-9.8%2/10

ROE of -9.8% — below average capital efficiency

Free Cash FlowQuality
$-19.83M2/10

Negative free cash flow — burning cash

Comparative Analysis Report

WallStSmart Research

Bull Case : AAT

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

Bull Case : JBGS

The strongest argument for JBGS centers on Price/Book, EPS Growth.

Bear Case : AAT

The primary concerns for AAT are Revenue Growth, Market Cap, Return on Equity. A P/E of 81.4x leaves little room for execution misses. Debt-to-equity of 1.50 is elevated, increasing financial risk.

Bear Case : JBGS

The primary concerns for JBGS are Market Cap, Operating Margin, Return on Equity. Debt-to-equity of 2.26 is elevated, increasing financial risk.

Key Dynamics to Monitor

AAT profiles as a value stock while JBGS is a turnaround play — different risk/reward profiles.

JBGS carries more volatility with a beta of 1.05 — expect wider price swings.

JBGS is growing revenue faster at 5.9% — sustainability is the question.

AAT generates stronger free cash flow (18M), providing more financial flexibility.

Bottom Line

JBGS scores higher overall (49/100 vs 41/100). AAT offers better value entry with a 50.9% 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.

JBG SMITH Properties

REAL ESTATE · REIT - DIVERSIFIED · USA

JBG SMITH is an S&P 400 company that owns, operates, invests, and develops a dynamic portfolio of high-growth mixed-use properties in and around Washington, DC.

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