Kilroy Realty (NYSE:KRC) Upgraded to Sector Perform at Scotiabank

Scotiabank upgraded shares of Kilroy Realty (NYSE:KRC) from a sector underperform rating to a sector perform rating in a report published on Wednesday morning, Marketbeat.com reports. They currently have $47.00 target price on the real estate investment trust’s stock, up from their previous target price of $40.00.

KRC has been the subject of several other research reports. Barclays reaffirmed an “equal weight” rating and issued a $43.00 price objective on shares of Kilroy Realty in a report on Thursday, September 4th. Zacks Research raised Kilroy Realty to a “hold” rating in a report on Friday, August 8th. Mizuho cut their price objective on Kilroy Realty from $43.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, July 14th. JPMorgan Chase & Co. cut their price objective on Kilroy Realty from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, July 2nd. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and issued a $33.00 price objective on shares of Kilroy Realty in a report on Thursday, August 21st. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Kilroy Realty currently has an average rating of “Hold” and an average price target of $39.45.

Kilroy Realty Stock Down 1.0%

KRC stock opened at $43.72 on Wednesday. Kilroy Realty has a 1-year low of $27.07 and a 1-year high of $44.89. The business has a fifty day moving average price of $39.29 and a 200-day moving average price of $35.17. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.35 and a quick ratio of 2.35. The stock has a market capitalization of $5.17 billion, a P/E ratio of 23.76 and a beta of 1.26.

Kilroy Realty (NYSE:KRC) last posted its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.12. Kilroy Realty had a return on equity of 3.92% and a net margin of 19.29%.The firm had revenue of $289.89 million during the quarter, compared to analysts’ expectations of $268.84 million. During the same quarter in the previous year, the business earned $1.10 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. Kilroy Realty has set its FY 2025 guidance at 4.050-4.150 EPS. Equities analysts forecast that Kilroy Realty will post 4 earnings per share for the current fiscal year.

Kilroy Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 8th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.16 dividend on an annualized basis and a yield of 4.9%. Kilroy Realty’s dividend payout ratio is presently 117.39%.

Insider Buying and Selling

In other Kilroy Realty news, EVP Eliott Trencher sold 3,997 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $38.05, for a total transaction of $152,085.85. Following the sale, the executive vice president directly owned 43,826 shares in the company, valued at $1,667,579.30. This represents a 8.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Merryl Elizabeth Werber sold 6,250 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $38.28, for a total value of $239,250.00. Following the sale, the chief accounting officer owned 26,435 shares in the company, valued at approximately $1,011,931.80. This trade represents a 19.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company’s stock.

Institutional Investors Weigh In On Kilroy Realty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Kilroy Realty during the second quarter valued at approximately $310,746,000. State Street Corp raised its position in Kilroy Realty by 1.2% during the second quarter. State Street Corp now owns 5,841,917 shares of the real estate investment trust’s stock valued at $203,514,000 after purchasing an additional 67,546 shares during the period. APG Asset Management US Inc. raised its position in Kilroy Realty by 5.3% during the first quarter. APG Asset Management US Inc. now owns 4,611,122 shares of the real estate investment trust’s stock valued at $151,521,000 after purchasing an additional 230,236 shares during the period. Daiwa Securities Group Inc. raised its position in Kilroy Realty by 168.6% during the second quarter. Daiwa Securities Group Inc. now owns 3,562,992 shares of the real estate investment trust’s stock valued at $122,246,000 after purchasing an additional 2,236,539 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its holdings in shares of Kilroy Realty by 3.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,103,487 shares of the real estate investment trust’s stock worth $101,671,000 after buying an additional 99,567 shares during the period. 94.22% of the stock is currently owned by hedge funds and other institutional investors.

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.