Kilroy Realty (NYSE:KRC) Releases Earnings Results

Kilroy Realty (NYSE:KRC) posted its quarterly earnings results on Monday. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.60), Zacks reports. Kilroy Realty had a return on equity of 3.52% and a net margin of 17.91%. The business had revenue of $289.94 million during the quarter, compared to the consensus estimate of $275.77 million. During the same quarter in the previous year, the business posted $1.12 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. Kilroy Realty updated its FY24 guidance to $4.38-4.44 EPS and its FY 2024 guidance to 4.380-4.440 EPS.

Kilroy Realty Stock Performance

KRC stock opened at $41.30 on Wednesday. The company has a 50-day simple moving average of $38.24 and a 200 day simple moving average of $35.10. The company has a market capitalization of $4.85 billion, a P/E ratio of 23.74 and a beta of 1.04. 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 fifty-two week low of $27.39 and a fifty-two week high of $43.78.

Kilroy Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Monday, September 30th were paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date of this dividend was Monday, September 30th. Kilroy Realty’s dividend payout ratio is currently 124.14%.

Insider Buying and Selling at Kilroy Realty

In other news, EVP John Osmond sold 2,628 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $40.00, for a total value of $105,120.00. Following the completion of the sale, the executive vice president now directly owns 8,818 shares of the company’s stock, valued at approximately $352,720. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Merryl Elizabeth Werber sold 3,000 shares of Kilroy Realty stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $39.14, for a total transaction of $117,420.00. Following the transaction, the chief accounting officer now directly owns 26,401 shares of the company’s stock, valued at $1,033,335.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Osmond sold 2,628 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $40.00, for a total transaction of $105,120.00. Following the completion of the sale, the executive vice president now owns 8,818 shares in the company, valued at approximately $352,720. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.49% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KRC. Barclays raised their target price on shares of Kilroy Realty from $38.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday. KeyCorp lowered their price objective on Kilroy Realty from $45.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Scotiabank dropped their target price on Kilroy Realty from $41.00 to $38.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Evercore ISI boosted their price target on shares of Kilroy Realty from $38.00 to $40.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Finally, Wells Fargo & Company dropped their price objective on shares of Kilroy Realty from $39.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, September 11th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $39.29.

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.