Kilroy Realty (NYSE:KRC) Announces Quarterly Earnings Results

Kilroy Realty (NYSE:KRC) released its earnings results on Wednesday. The real estate investment trust reported $0.41 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.67), Zacks reports. The firm had revenue of $280.73 million during the quarter, compared to analysts’ expectations of $276.81 million. Kilroy Realty had a return on equity of 3.52% and a net margin of 17.91%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.19 earnings per share. Kilroy Realty updated its FY 2024 guidance to 4.210-4.310 EPS.

Kilroy Realty Stock Down 4.1 %

Kilroy Realty stock traded down $1.45 during trading on Friday, reaching $33.80. 1,225,624 shares of the company’s stock were exchanged, compared to its average volume of 1,033,524. The company’s 50-day moving average is $33.19 and its two-hundred day moving average is $34.56. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.30 and a current ratio of 3.61. Kilroy Realty has a 52-week low of $26.78 and a 52-week high of $43.37. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of 19.43 and a beta of 1.04.

Kilroy Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 28th were given a dividend of $0.54 per share. The ex-dividend date was Friday, June 28th. This represents a $2.16 dividend on an annualized basis and a yield of 6.39%. Kilroy Realty’s dividend payout ratio (DPR) is 124.14%.

Analyst Ratings Changes

Several analysts have commented on the stock. KeyCorp lowered their target price on shares of Kilroy Realty from $45.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Kilroy Realty from $40.00 to $34.00 and set a “hold” rating for the company in a research note on Thursday, May 30th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Kilroy Realty currently has an average rating of “Hold” and an average price target of $38.20.

Insider Buying and Selling

In related news, insider A. Robert Paratte sold 12,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $33.35, for a total transaction of $400,200.00. Following the completion of the sale, the insider now directly owns 68,139 shares of the company’s stock, valued at approximately $2,272,435.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Kilroy Realty news, CAO Merryl Elizabeth Werber sold 3,329 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $33.66, for a total value of $112,054.14. Following the transaction, the chief accounting officer now owns 29,081 shares in the company, valued at approximately $978,866.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider A. Robert Paratte sold 12,000 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $33.35, for a total transaction of $400,200.00. Following the completion of the transaction, the insider now owns 68,139 shares in the company, valued at approximately $2,272,435.65. The disclosure for this sale can be found here. 2.49% of the stock is 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.