Norges Bank Purchases New Shares in Kilroy Realty Co. (NYSE:KRC)

Norges Bank acquired a new position in Kilroy Realty Co. (NYSE:KRC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,057,009 shares of the real estate investment trust’s stock, valued at approximately $366,356,000. Norges Bank owned approximately 7.67% of Kilroy Realty at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State of Alaska Department of Revenue lifted its stake in shares of Kilroy Realty by 0.4% in the 4th quarter. State of Alaska Department of Revenue now owns 68,456 shares of the real estate investment trust’s stock valued at $2,768,000 after purchasing an additional 276 shares during the period. Choreo LLC raised its holdings in Kilroy Realty by 3.2% in the fourth quarter. Choreo LLC now owns 8,852 shares of the real estate investment trust’s stock worth $358,000 after purchasing an additional 278 shares in the last quarter. M&T Bank Corp boosted its holdings in shares of Kilroy Realty by 1.3% during the 4th quarter. M&T Bank Corp now owns 22,889 shares of the real estate investment trust’s stock valued at $926,000 after buying an additional 293 shares in the last quarter. US Bancorp DE grew its position in shares of Kilroy Realty by 3.4% in the 4th quarter. US Bancorp DE now owns 9,680 shares of the real estate investment trust’s stock worth $392,000 after buying an additional 317 shares during the period. Finally, FMR LLC increased its stake in shares of Kilroy Realty by 2.2% in the 3rd quarter. FMR LLC now owns 15,201 shares of the real estate investment trust’s stock worth $588,000 after acquiring an additional 329 shares in the last quarter. 94.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on KRC shares. Wells Fargo & Company cut shares of Kilroy Realty from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $43.00 to $35.00 in a report on Monday, March 10th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $36.00 price objective (down previously from $42.00) on shares of Kilroy Realty in a research report on Friday. Evercore ISI dropped their target price on Kilroy Realty from $43.00 to $41.00 and set an “in-line” rating on the stock in a report on Wednesday, February 12th. JPMorgan Chase & Co. upgraded Kilroy Realty from a “neutral” rating to an “overweight” rating and raised their price target for the company from $45.00 to $49.00 in a report on Friday, December 20th. Finally, Royal Bank of Canada dropped their price target on shares of Kilroy Realty from $44.00 to $39.00 and set a “sector perform” rating on the stock in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $39.55.

Insider Transactions at Kilroy Realty

In related news, CEO Angela M. Aman purchased 2,797 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were acquired at an average price of $35.45 per share, for a total transaction of $99,153.65. Following the purchase, the chief executive officer now directly owns 2,797 shares in the company, valued at $99,153.65. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider A. Robert Paratte sold 6,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $34.74, for a total value of $208,440.00. Following the transaction, the insider now owns 86,744 shares of the company’s stock, valued at approximately $3,013,486.56. The trade was a 6.47 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.49% of the company’s stock.

Kilroy Realty Stock Down 2.8 %

Shares of KRC stock opened at $33.26 on Friday. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 18.79 and a beta of 1.02. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.21 and a quick ratio of 2.21. The company’s fifty day moving average price is $35.43 and its 200-day moving average price is $38.28. Kilroy Realty Co. has a one year low of $30.71 and a one year high of $43.78.

Kilroy Realty (NYSE:KRC) last announced its quarterly earnings data on Monday, February 10th. The real estate investment trust reported $1.20 EPS for the quarter, beating the consensus estimate of $1.03 by $0.17. Kilroy Realty had a return on equity of 3.75% and a net margin of 18.58%. Sell-side analysts expect that Kilroy Realty Co. will post 4 EPS for the current fiscal year.

Kilroy Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 6.50%. The ex-dividend date of this dividend is Monday, March 31st. Kilroy Realty’s dividend payout ratio (DPR) is currently 122.03%.

Kilroy Realty 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.