Malaga Cove Capital LLC Takes $247,000 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 stake in shares of Kilroy Realty Corporation (NYSE:KRC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 7,549 shares of the real estate investment trust's stock, valued at approximately $247,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in KRC. LPL Financial LLC raised its position in shares of Kilroy Realty by 24.3% during the 4th quarter. LPL Financial LLC now owns 52,746 shares of the real estate investment trust's stock valued at $2,134,000 after buying an additional 10,328 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in Kilroy Realty by 4.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 38,520 shares of the real estate investment trust's stock valued at $1,558,000 after buying an additional 1,747 shares during the period. Franklin Resources Inc. boosted its position in Kilroy Realty by 4.8% during the 4th quarter. Franklin Resources Inc. now owns 148,691 shares of the real estate investment trust's stock valued at $6,015,000 after buying an additional 6,840 shares during the period. Geode Capital Management LLC boosted its position in Kilroy Realty by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 2,066,597 shares of the real estate investment trust's stock valued at $83,616,000 after buying an additional 14,196 shares during the period. Finally, Resona Asset Management Co. Ltd. purchased a new stake in Kilroy Realty during the 4th quarter valued at $1,732,000. Hedge funds and other institutional investors own 94.22% of the company's stock.

Wall Street Analysts Forecast Growth

KRC has been the subject of several analyst reports. Scotiabank dropped their price target on shares of Kilroy Realty from $38.00 to $37.00 and set a "sector underperform" rating for the company in a research 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 target price for the company. in a research report on Wednesday, July 16th. Mizuho dropped their target price on shares of Kilroy Realty from $43.00 to $35.00 and set a "neutral" rating for the company in a research report on Monday, July 14th. Wells Fargo & Company dropped their target price on shares of Kilroy Realty from $35.00 to $33.00 and set an "equal weight" rating for the company in a research report on Monday, May 19th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Kilroy Realty from $42.00 to $40.00 and set an "overweight" rating for the company in a research report on Wednesday, July 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $37.91.

Kilroy Realty Trading Down 0.9%

Shares of NYSE KRC opened at $36.54 on Friday. Kilroy Realty Corporation has a 1 year low of $27.07 and a 1 year high of $43.78. The stock has a market cap of $4.32 billion, a P/E ratio of 19.86 and a beta of 1.22. The firm has a 50-day moving average of $35.32 and a 200 day moving average of $34.29. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.35 and a quick ratio of 2.07.

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

Kilroy Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Monday, June 30th were paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date was Monday, June 30th. Kilroy Realty's dividend payout ratio (DPR) is currently 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.

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