Kilroy Realty Corporation $KRC Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon reduced its Kilroy Realty stake by 7.3% in the first quarter, selling 77,165 shares and retaining 978,850 shares worth approximately $27.6 million. Institutional investors and hedge funds collectively own 94.22% of KRC.
• Analyst sentiment remains mixed but has improved, with recent upgrades from Bank of America and Evercore. The stock has an average “Hold” rating and a consensus price target of $38.87.
• Kilroy Realty was trading at $39.45, while its quarterly dividend of $0.54 implies a 5.5% annualized yield. The company’s latest quarterly earnings missed EPS expectations, although revenue exceeded analyst forecasts.

Bank of New York Mellon Corp trimmed its stake in shares of Kilroy Realty Corporation (NYSE:KRC - Free Report) by 7.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 978,850 shares of the real estate investment trust's stock after selling 77,165 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.84% of Kilroy Realty worth $27,613,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Wiser Advisor Group LLC bought a new position in shares of Kilroy Realty during the third quarter worth about $32,000. Caitong International Asset Management Co. Ltd acquired a new position in Kilroy Realty in the third quarter worth about $40,000. SJS Investment Consulting Inc. increased its holdings in Kilroy Realty by 128.1% in the first quarter. SJS Investment Consulting Inc. now owns 1,715 shares of the real estate investment trust's stock valued at $48,000 after buying an additional 963 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Kilroy Realty by 36.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,888 shares of the real estate investment trust's stock valued at $65,000 after buying an additional 502 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in Kilroy Realty during the fourth quarter valued at approximately $65,000. 94.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on KRC shares. Bank of America upgraded Kilroy Realty from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $42.00 to $44.00 in a research note on Tuesday, June 16th. Evercore upgraded shares of Kilroy Realty from an "in-line" rating to an "outperform" rating and set a $42.00 target price for the company in a research note on Monday, June 8th. Scotiabank increased their target price on shares of Kilroy Realty from $38.00 to $41.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 21st. Needham & Company LLC restated a "buy" rating on shares of Kilroy Realty in a research report on Monday, June 8th. Finally, Wells Fargo & Company lifted their price target on shares of Kilroy Realty from $31.00 to $33.00 and gave the company an "equal weight" rating in a report on Monday, June 1st. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $38.87.

Kilroy Realty Trading Up 0.1%

Kilroy Realty stock opened at $39.45 on Tuesday. Kilroy Realty Corporation has a 52-week low of $27.36 and a 52-week high of $45.03. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 21.68 and a beta of 1.12. The firm has a 50-day moving average price of $37.42 and a two-hundred day moving average price of $34.09.

Kilroy Realty (NYSE:KRC - Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The real estate investment trust reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.30). The firm had revenue of $270.05 million during the quarter, compared to analyst estimates of $263.08 million. Kilroy Realty had a net margin of 19.59% and a return on equity of 3.89%. Kilroy Realty's revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.02 EPS. Sell-side analysts expect that Kilroy Realty Corporation will post 3.58 earnings per share for the current year.

Kilroy Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Tuesday, June 30th were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend was Tuesday, June 30th. Kilroy Realty's dividend payout ratio is 118.68%.

Insider Activity at Kilroy Realty

In other news, President Justin William Smart sold 10,848 shares of the firm's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $38.71, for a total transaction of $419,926.08. Following the transaction, the president directly owned 519,872 shares of the company's stock, valued at approximately $20,124,245.12. This trade represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jolie A. Hunt sold 15,800 shares of Kilroy Realty stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $37.79, for a total transaction of $597,082.00. Following the sale, the director owned 13,892 shares in the company, valued at approximately $524,978.68. This represents a 53.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 29,648 shares of company stock worth $1,120,958 in the last three months. 0.83% of the stock is owned by company insiders.

Kilroy Realty Company Profile

Kilroy Realty Corporation NYSE: KRC is a publicly traded real estate investment trust focused on the development, acquisition and management of high‐quality office and mixed‐use properties along the U.S. West Coast. The company's portfolio encompasses major urban markets including Los Angeles, San Diego, the San Francisco Bay Area and Seattle. Kilroy Realty targets properties in transit‐oriented submarkets, blending workplace space with retail, residential and hospitality amenities to create vibrant, walkable neighborhoods.

Founded in the mid‐20th century by members of the Kilroy family, the company evolved from a regional landlord into one of the leading West Coast office landlords.

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