Kilroy Realty Co. to Issue Quarterly Dividend of $0.54 (NYSE:KRC)

Kilroy Realty Co. (NYSE:KRC) declared a quarterly dividend on Monday, September 16th, Zacks reports. Shareholders of record on Monday, September 30th will be paid a dividend of 0.54 per share by the real estate investment trust on Wednesday, October 9th. This represents a $2.16 dividend on an annualized basis and a yield of 5.58%. The ex-dividend date of this dividend is Monday, September 30th.

Kilroy Realty has a payout ratio of 152.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Kilroy Realty to earn $4.20 per share next year, which means the company should continue to be able to cover its $2.16 annual dividend with an expected future payout ratio of 51.4%.

Kilroy Realty Stock Performance

KRC stock traded up $0.24 during trading on Wednesday, reaching $38.70. 18,554 shares of the company’s stock were exchanged, compared to its average volume of 1,018,761. The company has a quick ratio of 3.61, a current ratio of 3.61 and a debt-to-equity ratio of 0.91. Kilroy Realty has a 1-year low of $26.78 and a 1-year high of $43.37. The company’s fifty day moving average price is $35.04 and its 200-day moving average price is $34.16. The firm has a market cap of $4.54 billion, a PE ratio of 22.11 and a beta of 1.04.

Kilroy Realty (NYSE:KRC) last announced its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.67). Kilroy Realty had a return on equity of 3.52% and a net margin of 17.91%. The business had revenue of $280.73 million for the quarter, compared to analyst estimates of $276.81 million. During the same quarter last year, the firm posted $1.19 EPS. The company’s revenue was down 1.2% compared to the same quarter last year. On average, research analysts expect that Kilroy Realty will post 4.25 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on KRC. Wells Fargo & Company reduced their price target on Kilroy Realty from $39.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday, September 11th. KeyCorp cut their price objective on Kilroy Realty from $45.00 to $42.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Evercore ISI upped their price objective on Kilroy Realty from $38.00 to $40.00 and gave the company an “in-line” rating in a report on Monday. Deutsche Bank Aktiengesellschaft cut their price objective on Kilroy Realty from $40.00 to $34.00 and set a “hold” rating for the company in a report on Thursday, May 30th. Finally, Scotiabank cut their price objective on Kilroy Realty from $41.00 to $38.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $38.40.

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.