Zacks Investment Research Upgrades Kilroy Realty (NYSE:KRC) to “Buy”

Zacks Investment Research upgraded shares of Kilroy Realty (NYSE:KRC) from a hold rating to a buy rating in a research report sent to investors on Wednesday, Zacks.com reports. Zacks Investment Research currently has $89.00 price target on the real estate investment trust’s stock.

According to Zacks, “Kilroy Realty Corporation, 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 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. “

Several other equities research analysts have also recently issued reports on KRC. Deutsche Bank raised their target price on shares of Kilroy Realty from $80.00 to $82.00 and gave the stock a hold rating in a report on Wednesday, April 10th. ValuEngine upgraded shares of Kilroy Realty from a hold rating to a buy rating in a report on Tuesday, July 23rd. Finally, BMO Capital Markets set a $81.00 target price on shares of Kilroy Realty and gave the stock a buy rating in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $81.86.

KRC stock traded down $0.09 on Wednesday, hitting $78.20. The company had a trading volume of 440,385 shares, compared to its average volume of 560,682. Kilroy Realty has a 12-month low of $59.05 and a 12-month high of $80.66. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.76. The company has a 50-day moving average of $76.82. The company has a market capitalization of $7.90 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 3.10 and a beta of 0.77.

Kilroy Realty (NYSE:KRC) last issued its earnings results on Monday, May 6th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.56). Kilroy Realty had a return on equity of 6.58% and a net margin of 35.13%. The company had revenue of $201.20 million during the quarter, compared to analysts’ expectations of $190.73 million. During the same quarter in the prior year, the business posted $0.94 EPS. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. Analysts anticipate that Kilroy Realty will post 3.73 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 17th. Stockholders of record on Friday, June 28th were paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Thursday, June 27th. This is a boost from Kilroy Realty’s previous quarterly dividend of $0.46. Kilroy Realty’s dividend payout ratio (DPR) is currently 55.75%.

In other news, CAO Merryl Elizabeth Werber sold 1,500 shares of Kilroy Realty stock in a transaction on Wednesday, June 19th. The shares were sold at an average price of $78.00, for a total transaction of $117,000.00. Following the transaction, the chief accounting officer now owns 8,120 shares in the company, valued at approximately $633,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jolie A. Hunt sold 4,434 shares of Kilroy Realty stock in a transaction on 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 in the company, valued at approximately $307,506.98. The disclosure for this sale can be found here. Company insiders own 2.26% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in Kilroy Realty by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,549,423 shares of the real estate investment trust’s stock valued at $97,425,000 after purchasing an additional 37,787 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Kilroy Realty in the fourth quarter valued at approximately $9,076,000. Geode Capital Management LLC lifted its position in shares of Kilroy Realty by 8.5% in the fourth quarter. Geode Capital Management LLC now owns 1,268,134 shares of the real estate investment trust’s stock valued at $79,740,000 after buying an additional 99,860 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Kilroy Realty by 0.9% in the first quarter. State of Alaska Department of Revenue now owns 43,272 shares of the real estate investment trust’s stock valued at $3,286,000 after buying an additional 376 shares during the last quarter. Finally, PGGM Investments lifted its position in shares of Kilroy Realty by 29.6% in the first quarter. PGGM Investments now owns 5,290,738 shares of the real estate investment trust’s stock valued at $401,884,000 after buying an additional 1,208,738 shares during the last quarter. Institutional investors and hedge funds own 96.67% of the company’s stock.

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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