Wells Fargo & Company Issues Pessimistic Forecast for Kilroy Realty (NYSE:KRC) Stock Price

Key Points

• Wells Fargo lowered Kilroy Realty’s price target from $38 to $36 while maintaining an “equal weight” rating, implying about 1.79% downside from the stock’s $36.66 price.
• Analyst sentiment remains cautious: Kilroy Realty has a consensus “Hold” rating from 15 analysts and an average price target of $38.54.
• The REIT matched quarterly earnings estimates at $0.13 per share, while revenue of $271.6 million exceeded expectations but declined 2.9% year over year.

Kilroy Realty (NYSE:KRC - Get Free Report) had its price objective dropped by research analysts at Wells Fargo & Company from $38.00 to $36.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an "equal weight" rating on the real estate investment trust's stock. Wells Fargo & Company's target price would suggest a potential downside of 1.79% from the stock's current price.

Other analysts have also issued research reports about the stock. Weiss Ratings lowered shares of Kilroy Realty from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, October 26th. Citigroup raised their price objective on Kilroy Realty from $34.00 to $40.00 and gave the company a "neutral" rating in a report on Thursday, July 30th. Mizuho increased their price objective on Kilroy Realty from $29.00 to $34.00 and gave the company an "underperform" rating in a report on Tuesday, July 21st. Evercore set a $44.00 price objective on Kilroy Realty in a research note on Monday, September 21st. Finally, Wall Street Zen upgraded Kilroy Realty from a "sell" rating to a "hold" rating in a report on Saturday. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Kilroy Realty currently has a consensus rating of "Hold" and a consensus target price of $38.54.

Kilroy Realty Stock Performance

KRC stock traded up $0.58 on Monday, reaching $36.66. 28,026 shares of the company were exchanged, compared to its average volume of 1,744,555. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.72 and a quick ratio of 1.72. Kilroy Realty has a 12 month low of $27.36 and a 12 month high of $43.58. The stock's fifty day moving average price is $35.13 and its 200 day moving average price is $34.55. The firm has a market capitalization of $4.26 billion, a PE ratio of 152.27 and a beta of 1.16.

Kilroy Realty (NYSE:KRC - Get Free Report) last issued its earnings results on Thursday, October 22nd. The real estate investment trust reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. The firm had revenue of $271.60 million during the quarter, compared to analysts' expectations of $268.02 million. Kilroy Realty had a return on equity of 0.52% and a net margin of 2.63%. Kilroy Realty's quarterly revenue was down 2.9% compared to the same quarter last year. During the same period last year, the business earned $1.08 earnings per share. On average, research analysts anticipate that Kilroy Realty will post 3.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Kilroy Realty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC increased its position in shares of Kilroy Realty by 13.2% in the third quarter. Chicago Partners Investment Group LLC now owns 35,430 shares of the real estate investment trust's stock worth $1,320,000 after purchasing an additional 4,122 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in Kilroy Realty by 9.1% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 24,087 shares of the real estate investment trust's stock valued at $801,000 after buying an additional 2,000 shares during the period. Vise Technologies Inc. bought a new stake in shares of Kilroy Realty during the 3rd quarter worth approximately $244,000. Intrua Financial LLC bought a new position in Kilroy Realty in the third quarter valued at approximately $228,000. Finally, Choreo LLC lifted its stake in Kilroy Realty by 18.4% during the third quarter. Choreo LLC now owns 11,419 shares of the real estate investment trust's stock worth $380,000 after purchasing an additional 1,777 shares during the last quarter. 94.22% of the stock is owned by institutional investors and hedge funds.

About Kilroy Realty

Kilroy Realty Corporation NYSE: KRC is a real estate investment trust that owns, develops, acquires and manages office, life science and mixed-use properties. Its portfolio is primarily designed for businesses in technology, life science, entertainment, media and other knowledge-based industries.

The company's properties are concentrated in major innovation and employment centers on the U.S. West Coast, including the San Francisco Bay Area, Los Angeles, San Diego and Seattle. Kilroy has also developed and operated mixed-use projects that combine office space with retail, residential and public amenities.

Founded in 1947, Kilroy Realty has developed into a prominent owner and operator of commercial real estate in coastal U.S.

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