Kilroy Realty (NYSE:KRC) Posts Earnings Results, Misses Estimates By $0.60 EPS

Kilroy Realty (NYSE:KRC) released its quarterly earnings results on Monday. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.60), Zacks reports. The business had revenue of $289.94 million during the quarter, compared to the consensus estimate of $275.77 million. Kilroy Realty had a net margin of 17.91% and a return on equity of 3.52%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.12 earnings per share. Kilroy Realty updated its FY24 guidance to $4.38-4.44 EPS and its FY 2024 guidance to 4.380-4.440 EPS.

Kilroy Realty Trading Up 0.3 %

Shares of Kilroy Realty stock traded up $0.11 during trading on Thursday, hitting $40.88. 145,157 shares of the company were exchanged, compared to its average volume of 1,054,198. The firm has a market capitalization of $4.80 billion, a P/E ratio of 23.43 and a beta of 1.04. Kilroy Realty has a 1-year low of $27.39 and a 1-year high of $43.78. The firm’s fifty day moving average price is $38.36 and its 200 day moving average price is $35.14. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.61 and a quick ratio of 3.61.

Kilroy Realty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Monday, September 30th were given a dividend of $0.54 per share. The ex-dividend date was Monday, September 30th. This represents a $2.16 annualized dividend and a dividend yield of 5.28%. Kilroy Realty’s payout ratio is currently 124.14%.

Insider Transactions at Kilroy Realty

In related news, EVP John Osmond sold 2,628 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $40.00, for a total value of $105,120.00. Following the completion of the transaction, the executive vice president now directly owns 8,818 shares in the company, valued at approximately $352,720. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP John Osmond sold 2,628 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $40.00, for a total value of $105,120.00. Following the completion of the transaction, the executive vice president now directly owns 8,818 shares in the company, valued at approximately $352,720. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Merryl Elizabeth Werber sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $39.14, for a total value of $117,420.00. Following the completion of the transaction, the chief accounting officer now owns 26,401 shares of the company’s stock, valued at $1,033,335.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.49% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Evercore ISI lifted their price objective on Kilroy Realty from $40.00 to $41.00 and gave the stock an “in-line” rating in a research report on Wednesday. Wells Fargo & Company lowered their price objective on Kilroy Realty from $39.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday, September 11th. Barclays lifted their price objective on Kilroy Realty from $38.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Scotiabank lowered their price objective on Kilroy Realty from $41.00 to $38.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $39.43.

About Kilroy Realty

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.