Kilroy Realty Corporation (NYSE:KRC) Shares Will Pay Quarterly Dividend of $0.54

Key Points

• Kilroy Realty declared a quarterly dividend of $0.54 per share, payable January 13 to shareholders of record on December 31. The annualized dividend is $2.16 per share, a 6.1% yield.
• The current payout ratio is 284.2%, meaning earnings alone do not cover the dividend; analysts forecast next-year earnings of $3.27 per share, which would lower the expected payout ratio to 66.1%.
• In its latest quarter, Kilroy Realty reported EPS of $0.13, matching expectations, while revenue of $271.6 million topped estimates but fell 2.9% year over year.

Kilroy Realty Corporation (NYSE:KRC - Get Free Report) declared a quarterly dividend on Tuesday, November 10th. Stockholders of record on Thursday, December 31st will be paid a dividend of $0.54 per share by the real estate investment trust on Wednesday, January 13th. This represents a $2.16 annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend is Thursday, December 31st.

Kilroy Realty has a payout ratio of 284.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Kilroy Realty to earn $3.27 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 66.1%.

Kilroy Realty Price Performance

Shares of NYSE:KRC traded down $0.20 during midday trading on Wednesday, hitting $35.69. The company had a trading volume of 62,227 shares, compared to its average volume of 1,730,979. Kilroy Realty has a twelve month low of $27.36 and a twelve month high of $43.58. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.72 and a quick ratio of 1.72. The stock has a market cap of $4.15 billion, a price-to-earnings ratio of 148.69 and a beta of 1.17. The business's 50-day simple moving average is $35.10 and its 200-day simple moving average is $34.52.

Kilroy Realty (NYSE:KRC - Get Free Report) last released its quarterly earnings data on Thursday, October 22nd. The real estate investment trust reported $0.13 earnings per share for the quarter, hitting analysts' consensus estimates of $0.13. The company had revenue of $271.60 million for the quarter, compared to analyst estimates of $268.02 million. Kilroy Realty had a return on equity of 0.52% and a net margin of 2.63%. The firm's revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 earnings per share. On average, research analysts predict that Kilroy Realty will post 3.58 earnings per share for the current year.

Hedge Funds Weigh In On Kilroy Realty

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Kilroy Realty during the second quarter worth about $581,003,000. Rush Island Management LP grew its holdings in shares of Kilroy Realty by 84.5% in the first quarter. Rush Island Management LP now owns 4,860,742 shares of the real estate investment trust's stock valued at $137,122,000 after purchasing an additional 2,226,821 shares in the last quarter. Route One Investment Company L.P. purchased a new stake in Kilroy Realty during the 2nd quarter worth approximately $159,181,000. Dimensional Fund Advisors LP increased its stake in Kilroy Realty by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,717,068 shares of the real estate investment trust's stock worth $48,440,000 after buying an additional 56,817 shares during the period. Finally, Bank of America Corp DE increased its stake in Kilroy Realty by 118.1% during the 1st quarter. Bank of America Corp DE now owns 1,621,580 shares of the real estate investment trust's stock worth $45,745,000 after buying an additional 877,907 shares during the period. 94.22% of the stock is owned by institutional investors and hedge funds.

About Kilroy Realty

Kilroy Realty Corporation is a real estate investment trust that owns, develops and operates office and life science properties. Its portfolio includes workplaces and research facilities designed to serve businesses in technology, media, entertainment and the life sciences. The company focuses on major coastal markets, including the San Francisco Bay Area, Los Angeles, San Diego and Seattle, as well as Austin, Texas. Its properties include office buildings, laboratory space and mixed-use developments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.