Kilroy Realty (NYSE:KRC) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Kilroy Realty (NYSE:KRC) from a hold rating to a buy rating in a research note published on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $80.00 target price 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. “

KRC has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft upgraded shares of Kilroy Realty from a sell rating to a hold rating and set a $73.00 price target for the company in a research report on Tuesday, October 12th. KeyCorp dropped their price target on shares of Kilroy Realty from $91.00 to $85.00 and set an overweight rating for the company in a research report on Thursday, October 14th. Royal Bank of Canada upgraded shares of Kilroy Realty from a sector perform rating to an outperform rating and lifted their price target for the company from $75.00 to $80.00 in a research report on Friday, November 19th. Finally, Evercore ISI reissued a buy rating and issued a $75.00 price objective on shares of Kilroy Realty in a research note on Wednesday, September 22nd. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Buy and a consensus target price of $77.56.

Shares of KRC stock opened at $69.91 on Tuesday. The firm has a 50 day moving average price of $68.34 and a two-hundred day moving average price of $68.10. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $8.14 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 2.20 and a beta of 0.80. Kilroy Realty has a 12-month low of $55.72 and a 12-month high of $74.05.

Kilroy Realty (NYSE:KRC) last released its quarterly earnings results on Tuesday, October 26th. The real estate investment trust reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. Kilroy Realty had a net margin of 71.39% and a return on equity of 11.79%. The company had revenue of $232.33 million during the quarter, compared to the consensus estimate of $227.76 million. During the same period in the previous year, the business earned $0.99 earnings per share. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, research analysts expect that Kilroy Realty will post 3.78 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 12th. Shareholders of record on Friday, December 31st were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, December 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.98%. Kilroy Realty’s payout ratio is presently 36.94%.

In other news, CAO Merryl Elizabeth Werber sold 1,000 shares of Kilroy Realty stock in a transaction on Friday, November 5th. The shares were sold at an average price of $71.00, for a total transaction of $71,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Heidi Rena Roth sold 12,696 shares of Kilroy Realty stock in a transaction on Friday, November 5th. The stock was sold at an average price of $70.92, for a total transaction of $900,400.32. The disclosure for this sale can be found here. Insiders own 1.83% of the company’s stock.

Several large investors have recently modified their holdings of KRC. Advisor Group Holdings Inc. lifted its holdings in shares of Kilroy Realty by 93.5% during the second quarter. Advisor Group Holdings Inc. now owns 1,794 shares of the real estate investment trust’s stock worth $125,000 after purchasing an additional 867 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Kilroy Realty by 47.5% during the second quarter. Envestnet Asset Management Inc. now owns 26,345 shares of the real estate investment trust’s stock worth $1,835,000 after purchasing an additional 8,478 shares during the period. US Bancorp DE lifted its holdings in Kilroy Realty by 11.5% in the second quarter. US Bancorp DE now owns 1,574 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 162 shares during the period. Jupiter Asset Management Ltd. acquired a new position in Kilroy Realty in the second quarter valued at $292,000. Finally, WINTON GROUP Ltd lifted its holdings in Kilroy Realty by 97.8% in the second quarter. WINTON GROUP Ltd now owns 13,958 shares of the real estate investment trust’s stock valued at $972,000 after buying an additional 6,901 shares during the period. Institutional investors own 90.35% of the company’s stock.

Kilroy Realty Company Profile

Kilroy Realty Corp. engages in the development, acquisition, and management of office and mixed-use real estate assets. It owns, develops, acquires and manages real estate assets, consisting primarily of Class A properties in the coastal regions of Los Angeles, Orange County, San Diego County, the San Francisco Bay Area and Greater Seattle.

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