Kilroy Realty Co. (NYSE:KRC) Announces $0.54 Quarterly Dividend

Kilroy Realty Co. (NYSE:KRC – Get Rating) announced a quarterly dividend on Wednesday, May 24th, Zacks reports. Stockholders of record on Friday, June 30th will be given a dividend of 0.54 per share by the real estate investment trust on Wednesday, July 12th. This represents a $2.16 annualized dividend and a dividend yield of 8.18%. The ex-dividend date is Thursday, June 29th.

Kilroy Realty has increased its dividend by an average of 3.5% annually over the last three years and has increased its dividend every year for the last 7 years. Kilroy Realty has a dividend payout ratio of 141.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Kilroy Realty to earn $4.57 per share next year, which means the company should continue to be able to cover its $2.16 annual dividend with an expected future payout ratio of 47.3%.

Kilroy Realty Price Performance

Kilroy Realty stock opened at $26.41 on Friday. The stock’s 50 day moving average is $29.38 and its 200 day moving average is $35.75. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.27 and a quick ratio of 2.27. The firm has a market cap of $3.09 billion, a P/E ratio of 13.14, a P/E/G ratio of 1.91 and a beta of 0.86. Kilroy Realty has a one year low of $25.99 and a one year high of $62.18.

Institutional Investors Weigh In On Kilroy Realty

Several institutional investors have recently bought and sold shares of the stock. Wetherby Asset Management Inc. grew its stake in Kilroy Realty by 124.1% in the 1st quarter. Wetherby Asset Management Inc. now owns 12,193 shares of the real estate investment trust’s stock valued at $395,000 after purchasing an additional 6,753 shares during the period. Susquehanna International Group LLP grew its stake in Kilroy Realty by 19.7% in the 4th quarter. Susquehanna International Group LLP now owns 8,377 shares of the real estate investment trust’s stock valued at $324,000 after purchasing an additional 1,377 shares during the period. Ethic Inc. bought a new position in Kilroy Realty in the 1st quarter valued at $323,000. Stifel Financial Corp grew its stake in Kilroy Realty by 8.2% in the 1st quarter. Stifel Financial Corp now owns 9,171 shares of the real estate investment trust’s stock valued at $297,000 after purchasing an additional 692 shares during the period. Finally, LPL Financial LLC grew its stake in Kilroy Realty by 7.6% in the 2nd quarter. LPL Financial LLC now owns 4,957 shares of the real estate investment trust’s stock valued at $259,000 after purchasing an additional 349 shares during the period. Institutional investors own 89.86% of the company’s stock.

Analyst Upgrades and Downgrades

KRC has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on Kilroy Realty in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on Kilroy Realty from $46.00 to $41.00 in a research note on Wednesday, March 1st. The Goldman Sachs Group initiated coverage on Kilroy Realty in a research note on Tuesday, March 21st. They issued a “buy” rating and a $41.00 price objective on the stock. Finally, Wells Fargo & Company cut their price objective on Kilroy Realty from $46.00 to $36.00 and set an “overweight” rating on the stock in a research note on Thursday, March 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $48.38.

Kilroy Realty Company Profile

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Kilroy Realty Corp. operates as a self-administered real estate investment trust, which engages in the development, acquisition, and management of office and mixed-use real estate assets. It owns, develops, acquires and manages real estate assets, consisting primarily of Class A properties in the coastal regions of Los Angeles, Orange County, San Diego County, the San Francisco Bay Area, and Greater Seattle.