Norges Bank acquired a new stake in Kilroy Realty Corp (NYSE:KRC) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,002,167 shares of the real estate investment trust’s stock, valued at approximately $377,416,000. Norges Bank owned approximately 5.96% of Kilroy Realty at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the business. Nordea Investment Management AB lifted its position in Kilroy Realty by 21.2% during the fourth quarter. Nordea Investment Management AB now owns 191,051 shares of the real estate investment trust’s stock valued at $12,013,000 after purchasing an additional 33,415 shares during the last quarter. Millennium Management LLC bought a new stake in Kilroy Realty during the fourth quarter valued at approximately $9,076,000. Legal & General Group Plc lifted its position in Kilroy Realty by 0.4% during the fourth quarter. Legal & General Group Plc now owns 408,444 shares of the real estate investment trust’s stock valued at $25,683,000 after purchasing an additional 1,620 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Kilroy Realty by 5.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 96,037 shares of the real estate investment trust’s stock worth $6,039,000 after acquiring an additional 5,120 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new stake in shares of Kilroy Realty in the 4th quarter worth approximately $1,521,000. 96.67% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:KRC traded up $0.77 during midday trading on Friday, reaching $75.34. The company’s stock had a trading volume of 483,708 shares, compared to its average volume of 507,370. The company has a market capitalization of $7.61 billion, a PE ratio of 21.65, a P/E/G ratio of 2.78 and a beta of 0.83. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.22 and a quick ratio of 1.22. Kilroy Realty Corp has a 12-month low of $59.05 and a 12-month high of $77.73.
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Friday, March 29th were paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend was Thursday, March 28th. Kilroy Realty’s dividend payout ratio is currently 52.30%.
In related news, insider Justin William Smart sold 5,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $76.71, for a total value of $383,550.00. Following the completion of the sale, the insider now directly owns 119,507 shares of the company’s stock, valued at approximately $9,167,381.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Tyler H. Rose sold 20,000 shares of the stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $72.57, for a total transaction of $1,451,400.00. Following the completion of the sale, the chief financial officer now directly owns 125,132 shares of the company’s stock, valued at $9,080,829.24. The disclosure for this sale can be found here. Insiders have sold a total of 64,799 shares of company stock worth $4,766,078 in the last 90 days. Company insiders own 2.26% of the company’s stock.
KRC has been the subject of a number of recent research reports. Zacks Investment Research lowered shares of Kilroy Realty from a “hold” rating to a “sell” rating in a report on Friday, January 18th. ValuEngine upgraded shares of Kilroy Realty from a “hold” rating to a “buy” rating in a report on Friday, February 8th. Robert W. Baird upgraded shares of Kilroy Realty from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $82.00 to $86.00 in a report on Friday, March 1st. Goldman Sachs Group upgraded shares of Kilroy Realty from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $80.00 to $81.00 in a report on Monday, March 11th. Finally, Deutsche Bank upped their price target on shares of Kilroy Realty from $80.00 to $82.00 and gave the company a “hold” rating in a report on Wednesday, April 10th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. Kilroy Realty has an average rating of “Buy” and an average target price of $79.71.
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About Kilroy Realty
Kilroy Realty Corporation (KRC), a publicly traded real estate investment trust and member of the S&P MidCap 400 Index, is one of the West Coast's premier landlords. The company has over 70 years of experience developing, acquiring and managing office and mixed-use real estate assets. The company provides physical work environments that foster creativity and productivity and serves a broad roster of dynamic, innovation-driven tenants, including technology, entertainment, digital media and health care companies.
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