Waterfall Asset Management LLC Makes New Investment in Kilroy Realty Co. (NYSE:KRC)

Waterfall Asset Management LLC bought a new position in shares of Kilroy Realty Co. (NYSE:KRC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 42,000 shares of the real estate investment trust’s stock, valued at approximately $1,309,000. Kilroy Realty comprises about 0.9% of Waterfall Asset Management LLC’s portfolio, making the stock its 14th biggest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Kilroy Realty by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 16,997,240 shares of the real estate investment trust’s stock valued at $677,170,000 after purchasing an additional 91,022 shares during the last quarter. APG Asset Management US Inc. boosted its stake in shares of Kilroy Realty by 5.0% in the 4th quarter. APG Asset Management US Inc. now owns 5,380,747 shares of the real estate investment trust’s stock valued at $214,369,000 after purchasing an additional 255,835 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Kilroy Realty by 18.2% in the 1st 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 purchasing an additional 487,556 shares during the last quarter. PGGM Investments boosted its stake in shares of 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 valued at $93,979,000 after purchasing an additional 1,385,692 shares during the last quarter. Finally, Centersquare Investment Management LLC boosted its stake in shares of Kilroy Realty by 1.0% in the 1st quarter. Centersquare Investment Management LLC now owns 2,598,144 shares of the real estate investment trust’s stock valued at $87,817,000 after purchasing an additional 24,855 shares during the last quarter. 94.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company reduced their price objective 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. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Kilroy Realty from $40.00 to $34.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. KeyCorp dropped 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 report on Tuesday, July 2nd. Evercore ISI boosted their target price on shares of Kilroy Realty from $38.00 to $40.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Scotiabank dropped their target price 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. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $38.40.

Kilroy Realty Stock Performance

KRC opened at $39.99 on Friday. The company has a current ratio of 3.61, a quick ratio of 3.61 and a debt-to-equity ratio of 0.91. The company’s fifty day moving average price is $35.42 and its two-hundred day moving average price is $34.24. Kilroy Realty Co. has a 1-year low of $26.78 and a 1-year high of $43.37. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 22.98 and a beta of 1.04.

Kilroy Realty (NYSE:KRC) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.41 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.67). The business had revenue of $280.73 million for the quarter, compared to analyst estimates of $276.81 million. Kilroy Realty had a return on equity of 3.52% and a net margin of 17.91%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.19 EPS. On average, analysts expect that Kilroy Realty Co. will post 4.25 EPS for the current fiscal year.

Kilroy Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Monday, September 30th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.16 annualized dividend and a dividend yield of 5.40%. Kilroy Realty’s dividend payout ratio is currently 124.14%.

Insider Activity

In other news, CAO Merryl Elizabeth Werber sold 3,000 shares of the 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 in the company, valued at $1,033,335.14. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Merryl Elizabeth Werber sold 3,000 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $39.14, for a total transaction of $117,420.00. Following the completion of the transaction, the chief accounting officer now owns 26,401 shares in the company, valued at $1,033,335.14. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP John Osmond sold 2,628 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $40.00, for a total transaction of $105,120.00. Following the transaction, the executive vice president now owns 8,818 shares of the company’s stock, valued at approximately $352,720. The disclosure for this sale can be found here. 2.49% of the stock is currently owned by corporate 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.