Kilroy Realty (NYSE:KRC) Shares Gap Up Following Analyst Upgrade

Kilroy Realty Co. (NYSE:KRC) gapped up prior to trading on Tuesday after Barclays raised their price target on the stock from $38.00 to $44.00. The stock had previously closed at $41.62, but opened at $43.14. Barclays currently has an equal weight rating on the stock. Kilroy Realty shares last traded at $40.83, with a volume of 118,290 shares.

Other research analysts have also recently issued reports about the stock. Scotiabank decreased their price objective on shares of Kilroy Realty from $41.00 to $38.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. KeyCorp decreased their price target on shares of Kilroy Realty from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Wells Fargo & Company dropped their price objective on shares of Kilroy Realty from $39.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, September 11th. Finally, Evercore ISI upped their target price on shares of Kilroy Realty from $38.00 to $40.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Kilroy Realty has an average rating of “Hold” and a consensus price target of $39.29.

Insider Activity

In related news, EVP John Osmond sold 2,628 shares of Kilroy Realty stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $40.00, for a total value of $105,120.00. Following the transaction, the executive vice president now owns 8,818 shares in the company, valued at $352,720. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Merryl Elizabeth Werber sold 3,000 shares of the stock in a transaction that occurred on 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 owns 26,401 shares of the company’s stock, valued at approximately $1,033,335.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John Osmond sold 2,628 shares of Kilroy Realty stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $40.00, for a total transaction of $105,120.00. Following the completion of the transaction, the executive vice president now directly owns 8,818 shares in the company, valued at approximately $352,720. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kilroy Realty

Several institutional investors have recently added to or reduced their stakes in KRC. Janus Henderson Group PLC raised its stake in shares of Kilroy Realty by 2,767.7% during the first quarter. Janus Henderson Group PLC now owns 1,648,027 shares of the real estate investment trust’s stock valued at $59,991,000 after acquiring an additional 1,590,558 shares during the last quarter. PGGM Investments lifted its holdings in Kilroy Realty by 85.0% in the 2nd quarter. PGGM Investments now owns 3,015,046 shares of the real estate investment trust’s stock worth $93,979,000 after buying an additional 1,385,692 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Kilroy Realty by 18.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,162,748 shares of the real estate investment trust’s stock valued at $115,220,000 after buying an additional 487,556 shares during the period. Sei Investments Co. raised its holdings in shares of Kilroy Realty by 139.4% during the first quarter. Sei Investments Co. now owns 693,552 shares of the real estate investment trust’s stock valued at $25,266,000 after acquiring an additional 403,807 shares in the last quarter. Finally, BROOKFIELD Corp ON bought a new position in shares of Kilroy Realty during the first quarter valued at approximately $13,179,000. Hedge funds and other institutional investors own 94.22% of the company’s stock.

Kilroy Realty Price Performance

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 business has a 50 day moving average of $38.09 and a 200 day moving average of $35.04. The company has a market cap of $4.85 billion, a PE ratio of 23.77 and a beta of 1.04.

Kilroy Realty (NYSE:KRC) last announced its earnings results on Monday, October 28th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.60). Kilroy Realty had a net margin of 17.91% and a return on equity of 3.52%. The company had revenue of $289.94 million for the quarter, compared to the consensus estimate of $275.77 million. During the same period in the previous year, the firm posted $1.12 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, research analysts predict that Kilroy Realty Co. will post 4.25 EPS for the current year.

Kilroy Realty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Monday, September 30th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date was Monday, September 30th. Kilroy Realty’s payout ratio is presently 124.14%.

About Kilroy Realty

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.