M&T Bank Corp Sells 5,212 Shares of Kilroy Realty Corporation (NYSE:KRC)

M&T Bank Corp cut its stake in shares of Kilroy Realty Corporation (NYSE:KRC) by 22.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,677 shares of the real estate investment trust’s stock after selling 5,212 shares during the quarter. M&T Bank Corp’s holdings in Kilroy Realty were worth $580,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC bought a new position in shares of Kilroy Realty during the 4th quarter valued at approximately $49,000. GF Fund Management CO. LTD. bought a new position in shares of Kilroy Realty during the 4th quarter valued at approximately $82,000. FIL Ltd grew its stake in shares of Kilroy Realty by 52.4% during the 4th quarter. FIL Ltd now owns 3,442 shares of the real estate investment trust’s stock valued at $139,000 after acquiring an additional 1,184 shares during the period. Fifth Third Bancorp grew its stake in shares of Kilroy Realty by 70.4% during the 1st quarter. Fifth Third Bancorp now owns 4,298 shares of the real estate investment trust’s stock valued at $141,000 after acquiring an additional 1,775 shares during the period. Finally, ProShare Advisors LLC bought a new position in shares of Kilroy Realty during the 4th quarter valued at approximately $201,000. 94.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on KRC shares. KeyCorp cut their price objective on Kilroy Realty from $45.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday, March 31st. JPMorgan Chase & Co. dropped their price target on Kilroy Realty from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, July 2nd. Scotiabank dropped their price target on Kilroy Realty from $38.00 to $37.00 and set a “sector underperform” rating for the company in a research note on Monday. Mizuho dropped their price target on Kilroy Realty from $43.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $36.00 price target (down from $42.00) on shares of Kilroy Realty in a research note on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Kilroy Realty has an average rating of “Hold” and an average price target of $38.00.

Kilroy Realty Stock Down 0.6%

Shares of KRC opened at $36.89 on Wednesday. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of 21.96 and a beta of 1.19. Kilroy Realty Corporation has a 1 year low of $27.07 and a 1 year high of $43.78. The business’s 50 day simple moving average is $33.95 and its 200-day simple moving average is $34.41. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.07 and a quick ratio of 2.07.

Kilroy Realty (NYSE:KRC) last issued its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.01). The firm had revenue of $270.84 million for the quarter, compared to analysts’ expectations of $274.90 million. Kilroy Realty had a return on equity of 3.57% and a net margin of 17.74%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same period last year, the company earned $1.11 earnings per share. As a group, equities analysts expect that Kilroy Realty Corporation will post 4 earnings per share for the current fiscal year.

Kilroy Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Monday, June 30th were issued a dividend of $0.54 per share. The ex-dividend date was Monday, June 30th. This represents a $2.16 annualized dividend and a yield of 5.86%. Kilroy Realty’s payout ratio is presently 128.57%.

Kilroy Realty Company Profile

Kilroy Realty Corporation (NYSE: KRC, the company, Kilroy) is a leading U.S. landlord and developer, with operations in San Diego, Greater Los Angeles, the San Francisco Bay Area, Greater Seattle and Austin. The company has earned global recognition for sustainability, building operations, innovation and design.