Kilroy Realty (NYSE:KRC) Posts Quarterly Earnings Results, Misses Estimates By $0.67 EPS

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

Kilroy Realty Trading Down 4.1 %

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

Kilroy Realty Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently weighed in on KRC shares. KeyCorp cut 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 cut their target price 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 investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $38.20.

Insider Buying and Selling at Kilroy Realty

In other news, CAO Merryl Elizabeth Werber sold 3,329 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $33.66, for a total transaction of $112,054.14. Following the completion of the sale, 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 can be accessed through the SEC website. In other news, CAO Merryl Elizabeth Werber sold 3,329 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $33.66, for a total transaction of $112,054.14. Following the completion of the sale, 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 can be accessed through the SEC website. Also, insider A. Robert Paratte sold 12,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $33.35, for a total value of $400,200.00. Following the sale, the insider now owns 68,139 shares of the company’s stock, valued at approximately $2,272,435.65. The disclosure for this sale can be found here. 2.49% of the stock is owned by company 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.