Kilroy Realty Corp (NYSE:KRC) Raises Dividend to $0.49 Per Share

Kilroy Realty Corp (NYSE:KRC) declared a quarterly dividend on Friday, May 17th, Wall Street Journal reports. Stockholders of record on Friday, June 28th will be paid a dividend of 0.485 per share by the real estate investment trust on Wednesday, July 17th. This represents a $1.94 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Thursday, June 27th. This is a positive change from Kilroy Realty’s previous quarterly dividend of $0.46.

Kilroy Realty has increased its dividend payment by an average of 18.8% annually over the last three years and has increased its dividend every year for the last 3 years. Kilroy Realty has a payout ratio of 54.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Kilroy Realty to earn $4.05 per share next year, which means the company should continue to be able to cover its $1.94 annual dividend with an expected future payout ratio of 47.9%.

Shares of Kilroy Realty stock opened at $74.77 on Wednesday. Kilroy Realty has a 52 week low of $59.05 and a 52 week high of $78.98. The company has a fifty day simple moving average of $75.97. The firm has a market cap of $7.60 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 2.79 and a beta of 0.81. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.72.

Kilroy Realty (NYSE:KRC) last announced its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.56). Kilroy Realty had a net margin of 33.84% and a return on equity of 6.27%. The business had revenue of $201.20 million during the quarter, compared to analyst estimates of $190.73 million. During the same period last year, the company earned $0.94 EPS. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, research analysts expect that Kilroy Realty will post 3.72 earnings per share for the current year.

In related news, Director Jolie A. Hunt sold 4,434 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $75.02, for a total transaction of $332,638.68. Following the transaction, the director now owns 4,099 shares of the company’s stock, valued at approximately $307,506.98. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Merryl Elizabeth Werber sold 1,500 shares of the stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $78.00, for a total value of $117,000.00. Following the transaction, the chief accounting officer now directly owns 8,120 shares in the company, valued at approximately $633,360. The disclosure for this sale can be found here. 2.26% of the stock is currently owned by corporate insiders.

Several equities analysts have recently commented on the company. Deutsche Bank upped their price target on Kilroy Realty from $80.00 to $82.00 and gave the company a “hold” rating in a research note on Wednesday, April 10th. ValuEngine lowered Kilroy Realty from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. Goldman Sachs Group raised Kilroy Realty from a “neutral” rating to a “buy” rating and increased their target price for the stock from $80.00 to $81.00 in a research note on Monday, March 11th. Finally, Robert W. Baird raised Kilroy Realty from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $82.00 to $86.00 in a research note on Friday, March 1st. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $80.60.

Kilroy Realty Company Profile

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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Dividend History for Kilroy Realty (NYSE:KRC)

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