Malaga Cove Capital LLC Purchases New Position in Kilroy Realty Corporation (NYSE:KRC)

Key Points

• Malaga Cove Capital LLC has established a new position in Kilroy Realty Corporation (NYSE: KRC) by acquiring 7,549 shares valued at approximately $247,000.
• The company's share price target estimates have generally decreased, with Scotiabank lowering its price target from $38.00 to $37.00, indicating a potential sector underperform rating.
• Kilroy Realty announced a quarterly dividend of $0.54 per share, yielding approximately 5.9%, while the company continues to report a dividend payout ratio of 117.39%.

Malaga Cove Capital LLC acquired a new position in Kilroy Realty Corporation (NYSE:KRC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,549 shares of the real estate investment trust's stock, valued at approximately $247,000.

Other institutional investors have also added to or reduced their stakes in the company. Treasurer of the State of North Carolina increased its holdings in shares of Kilroy Realty by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 51,388 shares of the real estate investment trust's stock valued at $2,079,000 after acquiring an additional 320 shares during the period. US Bancorp DE raised its holdings in Kilroy Realty by 4.1% in the first quarter. US Bancorp DE now owns 10,077 shares of the real estate investment trust's stock worth $330,000 after purchasing an additional 397 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Kilroy Realty by 7.8% during the first quarter. Parallel Advisors LLC now owns 5,539 shares of the real estate investment trust's stock valued at $181,000 after buying an additional 401 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Kilroy Realty by 22.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,346 shares of the real estate investment trust's stock valued at $110,000 after buying an additional 614 shares in the last quarter. Finally, Allworth Financial LP lifted its position in Kilroy Realty by 192.1% during the first quarter. Allworth Financial LP now owns 964 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 634 shares during the last quarter. Institutional investors own 94.22% of the company's stock.

Kilroy Realty Trading Down 0.3%

KRC stock traded down $0.11 during midday trading on Thursday, hitting $38.06. 204,327 shares of the company's stock were exchanged, compared to its average volume of 1,520,852. The business has a 50-day simple moving average of $35.67 and a two-hundred day simple moving average of $34.30. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $4.50 billion, a PE ratio of 20.68 and a beta of 1.22. Kilroy Realty Corporation has a 1-year low of $27.07 and a 1-year high of $43.78.

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

Kilroy Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Monday, June 30th were issued a dividend of $0.54 per share. The ex-dividend date was Monday, June 30th. This represents a $2.16 annualized dividend and a yield of 5.7%. Kilroy Realty's dividend payout ratio is 117.39%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Royal Bank Of Canada raised their price objective on Kilroy Realty from $39.00 to $40.00 and gave the stock a "sector perform" rating in a research report on Thursday. Mizuho decreased their price objective on Kilroy Realty from $43.00 to $35.00 and set a "neutral" rating for the company in a report on Monday, July 14th. BMO Capital Markets cut shares of Kilroy Realty from a "market perform" rating to an "underperform" rating and set a $35.00 price objective for the company. in a report on Wednesday, July 16th. JPMorgan Chase & Co. reduced their target price 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. Finally, Scotiabank decreased their price target on shares of Kilroy Realty from $38.00 to $37.00 and set a "sector underperform" rating on the stock in a research note on Monday, July 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Kilroy Realty has an average rating of "Hold" and an average price target of $38.00.

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.