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American Assets Trust vs National Healthcare Properties: AAT and NHP compared
American Assets Trust is the larger company: $111M of revenue in its latest quarter (Q1 2026) against $103M for National Healthcare Properties (Q3 2026). National Healthcare Properties is growing faster (+20% against +2% a year earlier). National Healthcare Properties is more profitable, with an operating margin of 30.9% against 23.4%.
Where the money goes: AAT and NHP
American Assets Trust (AAT) · Q1 2026
American Assets Trust, Q1 2026: revenue $111M (+2% year over year), operating margin 23.4%, net earnings $5.1M, operating cash flow $38.6M. The chart follows the revenue to costs, profit and cash.
National Healthcare Properties (NHP) · Q3 2026
National Healthcare Properties, Q3 2026: revenue $103M (+20% year over year), operating margin 30.9%, net earnings $17.8M, operating cash flow $15.7M. The chart follows the revenue to costs, profit and cash.
| American Assets Trust (AAT) | National Healthcare Properties (NHP) | |
|---|---|---|
| Latest quarter | Q1 2026 | Q3 2026 |
| Revenue | $111M | $103M |
| Revenue growth, Y/Y | +2% | +20% |
| Gross margin | 60.5% | 32.5% |
| Operating margin | 23.4% | 30.9% |
| Net earnings | $5.1M | $17.8M |
| Net margin | 4.6% | 17.2% |
| Operating cash flow | $38.6M | $15.7M |
| Free cash flow | $18.2M | $6.8M |
Where the revenue comes from
American Assets Trust
- Office: $52.4M (47%)
- Retail: $23.3M (21%)
- Multifamily: $18.2M (16%)
- Mixed-use: $16.7M (15%)
National Healthcare Properties
- Seniors Housing Communities: $80.7M (78%)
- OMF: $22.3M (22%)
Questions
Which is bigger, American Assets Trust or National Healthcare Properties?
American Assets Trust is the larger company: $111M of revenue in its latest quarter (Q1 2026) against $103M for National Healthcare Properties (Q3 2026).
Is American Assets Trust or National Healthcare Properties growing faster?
National Healthcare Properties is growing faster (+20% against +2% a year earlier).
Which is more profitable, American Assets Trust or National Healthcare Properties?
National Healthcare Properties is more profitable, with an operating margin of 30.9% against 23.4%.
More: American Assets Trust earnings · how American Assets Trust makes money · National Healthcare Properties earnings · how National Healthcare Properties makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed May 1, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.