Envestnet Asset Management Inc. Grows Position in Kilroy Realty Corporation (NYSE:KRC)

Key Points

• Envestnet Asset Management increased its stake in Kilroy Realty Corporation by 48.5%, bringing its total ownership to 43,401 shares valued at approximately $1.42 million.
• Several institutional investors have acquired or increased their positions in Kilroy Realty, with 94.22% of the stock now owned by such investors.
• Kilroy Realty announced a quarterly dividend of $0.54 per share, resulting in a dividend yield of 5.9% and an annualized dividend of $2.16.

Envestnet Asset Management Inc. grew its position in shares of Kilroy Realty Corporation (NYSE:KRC - Free Report) by 48.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,401 shares of the real estate investment trust's stock after acquiring an additional 14,171 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Kilroy Realty were worth $1,422,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of KRC. Rush Island Management LP bought a new stake in Kilroy Realty during the fourth quarter worth $109,502,000. Bamco Inc. NY bought a new stake in Kilroy Realty during the fourth quarter worth $58,747,000. Northern Trust Corp grew its holdings in Kilroy Realty by 107.5% during the fourth quarter. Northern Trust Corp now owns 2,096,471 shares of the real estate investment trust's stock worth $84,802,000 after buying an additional 1,085,914 shares in the last quarter. Deutsche Bank AG grew its holdings in Kilroy Realty by 1,226.2% during the fourth quarter. Deutsche Bank AG now owns 815,491 shares of the real estate investment trust's stock worth $32,987,000 after buying an additional 753,999 shares in the last quarter. Finally, Castle Hook Partners LP purchased a new position in Kilroy Realty in the fourth quarter worth $30,262,000. Institutional investors own 94.22% of the company's stock.

Analyst Ratings Changes

KRC has been the subject of a number of recent analyst reports. Scotiabank reduced their price objective on Kilroy Realty from $38.00 to $37.00 and set a "sector underperform" rating for the company in a research note on Monday, July 14th. Evercore ISI upped their price objective on Kilroy Realty from $35.00 to $43.00 and gave the company an "in-line" rating in a research note on Wednesday, July 30th. Mizuho reduced their price objective on Kilroy Realty from $43.00 to $35.00 and set a "neutral" rating for the company in a research note on Monday, July 14th. Wells Fargo & Company reduced their price objective on Kilroy Realty from $35.00 to $33.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Finally, JPMorgan Chase & Co. reduced their price objective on Kilroy Realty from $42.00 to $40.00 and set an "overweight" rating for the company in a research note on Wednesday, July 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Kilroy Realty currently has a consensus rating of "Hold" and an average price target of $37.91.

Kilroy Realty Stock Performance

Shares of NYSE KRC traded up $0.72 during trading on Monday, reaching $37.27. 511,904 shares of the stock traded hands, compared to its average volume of 1,518,575. Kilroy Realty Corporation has a 52-week low of $27.07 and a 52-week high of $43.78. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.35 and a quick ratio of 2.35. The company has a 50-day moving average of $35.32 and a 200-day moving average of $34.26. The stock has a market capitalization of $4.41 billion, a P/E ratio of 20.25 and a beta of 1.22.

Kilroy Realty (NYSE:KRC - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.12. The business had revenue of $289.89 million for the quarter, compared to analysts' expectations of $268.84 million. Kilroy Realty had a return on equity of 3.92% and a net margin of 19.29%. The firm's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.10 EPS. Analysts forecast that Kilroy Realty Corporation will post 4 EPS for the current fiscal year.

Kilroy Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Monday, June 30th were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.16 dividend on an annualized basis and a yield of 5.8%. Kilroy Realty's dividend payout ratio is 117.39%.

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.