Kilroy Realty Corp. (KRC) Lifted to “Buy” at Bank of America Corp.
Kilroy Realty Corp. (NYSE:KRC) was upgraded by equities research analysts at Bank of America Corp. from a “neutral” rating to a “buy” rating in a report released on Friday, The Fly reports.
A number of other brokerages have also recently issued reports on KRC. Zacks Investment Research raised Kilroy Realty Corp. from a “sell” rating to a “hold” rating in a report on Friday, July 29th. Stifel Nicolaus increased their price objective on Kilroy Realty Corp. from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 1st. Citigroup Inc. increased their price objective on Kilroy Realty Corp. from $71.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, July 29th. DA Davidson increased their price objective on Kilroy Realty Corp. from $70.00 to $78.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. Finally, Robert W. Baird reissued an “outperform” rating and set a $78.00 price objective on shares of Kilroy Realty Corp. in a report on Friday, August 26th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $75.64.
Shares of Kilroy Realty Corp. (NYSE:KRC) opened at 69.58 on Friday. Kilroy Realty Corp. has a 12-month low of $46.76 and a 12-month high of $74.17. The company has a market capitalization of $6.42 billion, a PE ratio of 19.86 and a beta of 0.96. The stock’s 50 day moving average price is $69.54 and its 200 day moving average price is $66.72.
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Kilroy Realty Corp. (NYSE:KRC) last issued its quarterly earnings data on Monday, July 25th. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.01. The business had revenue of $160.10 million for the quarter, compared to analysts’ expectations of $140.64 million. Kilroy Realty Corp. had a return on equity of 10.85% and a net margin of 57.28%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.82 EPS. On average, equities research analysts forecast that Kilroy Realty Corp. will post $3.40 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 12th. Investors of record on Friday, September 30th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.16%. Kilroy Realty Corp.’s dividend payout ratio is 42.74%.
Several institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its position in shares of Kilroy Realty Corp. by 15.4% in the second quarter. PNC Financial Services Group Inc. now owns 2,777 shares of the real estate investment trust’s stock worth $184,000 after buying an additional 371 shares in the last quarter. Advisors Asset Management Inc. raised its position in Kilroy Realty Corp. by 33.1% in the second quarter. Advisors Asset Management Inc. now owns 3,195 shares of the real estate investment trust’s stock valued at $212,000 after buying an additional 795 shares during the last quarter. BB&T Securities LLC bought a new position in Kilroy Realty Corp. during the second quarter valued at about $217,000. Nuveen Fund Advisors LLC bought a new position in Kilroy Realty Corp. during the second quarter valued at about $220,000. Finally, Timber Hill LLC bought a new position in Kilroy Realty Corp. during the second quarter valued at about $235,000.
Kilroy Realty Corp. Company Profile
Kilroy Realty Corporation is a self-administered real estate investment trust (REIT). The Company focuses on office submarkets in the West Coast. The Company owns, develops, acquires and manages real estate assets consisting of Class A real estate properties in the coastal regions of Los Angeles, Orange County, San Diego County, the San Francisco Bay Area and greater Seattle.
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