Brokerages forecast that Kilroy Realty Corp (NYSE:KRC) will announce sales of $184.40 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Kilroy Realty’s earnings. The highest sales estimate is $189.07 million and the lowest is $180.94 million. Kilroy Realty posted sales of $180.60 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.1%. The company is scheduled to announce its next quarterly earnings results on Wednesday, July 25th.
According to Zacks, analysts expect that Kilroy Realty will report full-year sales of $731.87 million for the current financial year, with estimates ranging from $714.07 million to $746.13 million. For the next year, analysts expect that the firm will report sales of $800.46 million per share, with estimates ranging from $748.90 million to $833.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Kilroy Realty.
Kilroy Realty (NYSE:KRC) last released its quarterly earnings results on Wednesday, April 25th. The real estate investment trust reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.54). Kilroy Realty had a return on equity of 4.27% and a net margin of 23.16%. The business had revenue of $182.80 million for the quarter, compared to the consensus estimate of $178.02 million. During the same period in the prior year, the business posted $0.81 earnings per share. Kilroy Realty’s revenue was up 2.0% compared to the same quarter last year.
Several equities analysts have commented on KRC shares. TheStreet raised shares of Kilroy Realty from a “c+” rating to a “b-” rating in a report on Thursday, May 10th. Stifel Nicolaus raised their target price on shares of Kilroy Realty from $77.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, May 1st. BMO Capital Markets reissued a “buy” rating and issued a $77.00 target price on shares of Kilroy Realty in a report on Thursday, April 26th. Citigroup raised shares of Kilroy Realty from a “neutral” rating to a “buy” rating and set a $77.00 target price on the stock in a report on Tuesday, February 27th. They noted that the move was a valuation call. Finally, Deutsche Bank raised their target price on shares of Kilroy Realty from $75.00 to $81.00 and gave the company a “hold” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $76.70.
In other news, CEO John B. Kilroy, Jr. sold 27,600 shares of the firm’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $72.22, for a total value of $1,993,272.00. Following the sale, the chief executive officer now directly owns 787,149 shares in the company, valued at approximately $56,847,900.78. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Tyler H. Rose sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $71.86, for a total transaction of $1,077,900.00. Following the completion of the sale, the chief financial officer now owns 110,056 shares in the company, valued at $7,908,624.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,207 shares of company stock worth $4,495,914. 2.22% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of KRC. Xact Kapitalforvaltning AB acquired a new stake in Kilroy Realty during the 4th quarter worth approximately $558,000. Ontario Teachers Pension Plan Board acquired a new stake in Kilroy Realty during the 4th quarter worth approximately $546,000. Land & Buildings Investment Management LLC acquired a new stake in Kilroy Realty during the 4th quarter worth approximately $18,356,000. Heitman Real Estate Securities LLC boosted its position in Kilroy Realty by 22.5% during the 4th quarter. Heitman Real Estate Securities LLC now owns 555,608 shares of the real estate investment trust’s stock worth $41,476,000 after buying an additional 101,933 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Kilroy Realty by 12.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 165,062 shares of the real estate investment trust’s stock worth $12,322,000 after buying an additional 18,244 shares during the period. Institutional investors own 97.80% of the company’s stock.
Kilroy Realty traded up $0.22, reaching $75.35, during mid-day trading on Friday, MarketBeat.com reports. 17,016 shares of the company’s stock were exchanged, compared to its average volume of 541,757. Kilroy Realty has a one year low of $62.91 and a one year high of $77.73. The firm has a market cap of $7.52 billion, a price-to-earnings ratio of 22.10, a P/E/G ratio of 2.80 and a beta of 0.70. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 18th. Stockholders of record on Friday, June 29th will be paid a $0.455 dividend. This is an increase from Kilroy Realty’s previous quarterly dividend of $0.43. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Thursday, June 28th. Kilroy Realty’s dividend payout ratio (DPR) is presently 50.00%.
Kilroy Realty Company Profile
Kilroy Realty Corporation (KRC), 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 has over 70 years of experience developing, acquiring and managing office and mixed-use real estate assets. 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.
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