Kilroy Realty (NYSE:KRC) Posts Earnings Results

Kilroy Realty (NYSE:KRC) announced its quarterly earnings results on Monday. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.60), Zacks reports. The company had revenue of $289.94 million during the quarter, compared to analyst estimates of $275.77 million. Kilroy Realty had a net margin of 17.91% and a return on equity of 3.52%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.12 EPS. 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 Down 1.2 %

Kilroy Realty stock traded down $0.51 during midday trading on Wednesday, hitting $40.77. 1,441,720 shares of the stock were exchanged, compared to its average volume of 1,058,527. Kilroy Realty has a 1 year low of $27.39 and a 1 year high of $43.78. The firm has a market cap of $4.79 billion, a P/E ratio of 23.47 and a beta of 1.04. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.61 and a quick ratio of 3.61. The company has a 50 day moving average price of $38.24 and a two-hundred day moving average price of $35.10.

Kilroy Realty Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 5.30%. The ex-dividend date of this dividend was Monday, September 30th. Kilroy Realty’s dividend payout ratio (DPR) is 124.14%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on KRC shares. Scotiabank decreased their price target on shares of Kilroy Realty from $41.00 to $38.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Evercore ISI raised their target price on shares of Kilroy Realty from $40.00 to $41.00 and gave the company an “in-line” rating in a research note on Wednesday. Barclays raised their target price on shares of Kilroy Realty from $38.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday. KeyCorp cut their target price on shares of Kilroy Realty from $45.00 to $42.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Finally, Wells Fargo & Company cut their target price on shares of Kilroy Realty from $39.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 11th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $39.43.

Insider Buying and Selling

In other news, CAO Merryl Elizabeth Werber sold 3,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $39.14, for a total value of $117,420.00. Following the completion of the sale, the chief accounting officer now owns 26,401 shares of the company’s stock, valued at approximately $1,033,335.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP John Osmond sold 2,628 shares of the business’s stock in a transaction dated 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 owns 8,818 shares of the company’s stock, valued at approximately $352,720. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Merryl Elizabeth Werber sold 3,000 shares of the business’s 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 completion of the sale, 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 position. The disclosure for this sale can be found here. 2.49% of the stock is currently owned by insiders.

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.