New York State Teachers Retirement System Trims Stake in Kilroy Realty Corporation (NYSE:KRC)

New York State Teachers Retirement System cut its holdings in shares of Kilroy Realty Corporation (NYSE:KRC - Free Report) by 6.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 121,760 shares of the real estate investment trust's stock after selling 8,300 shares during the period. New York State Teachers Retirement System owned 0.10% of Kilroy Realty worth $3,989,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in KRC. Norges Bank purchased a new stake in shares of Kilroy Realty during the fourth quarter valued at $366,356,000. Rush Island Management LP purchased a new stake in shares of Kilroy Realty during the fourth quarter valued at $109,502,000. Bamco Inc. NY purchased a new stake in shares of Kilroy Realty during the fourth quarter valued at $58,747,000. Northern Trust Corp grew its holdings in shares of 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 valued at $84,802,000 after buying an additional 1,085,914 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of 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 valued at $32,987,000 after buying an additional 753,999 shares during the last quarter. 94.22% of the stock is owned by institutional investors and hedge funds.

Kilroy Realty Price Performance

Shares of KRC traded down $0.69 during mid-day trading on Monday, hitting $34.60. 1,255,644 shares of the company were exchanged, compared to its average volume of 1,256,229. Kilroy Realty Corporation has a 1-year low of $27.07 and a 1-year high of $43.78. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.07 and a current ratio of 2.07. The company has a 50 day moving average of $33.35 and a 200-day moving average of $34.61. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of 20.60 and a beta of 1.19.

Kilroy Realty (NYSE:KRC - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $1.02 EPS for the quarter, missing analysts' consensus estimates of $1.03 by ($0.01). The business had revenue of $270.84 million during the quarter, compared to analyst estimates of $274.90 million. Kilroy Realty had a net margin of 17.74% and a return on equity of 3.57%. The firm's revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.11 EPS. Analysts expect that Kilroy Realty Corporation will post 4 EPS for the current fiscal year.

Kilroy Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Monday, June 30th will be issued a $0.54 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.16 dividend on an annualized basis and a yield of 6.24%. Kilroy Realty's payout ratio is 128.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group initiated coverage on shares of Kilroy Realty in a report on Monday, March 17th. They set a "hold" rating and a $34.00 price objective on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $36.00 price target (down from $42.00) on shares of Kilroy Realty in a report on Friday, March 28th. JPMorgan Chase & Co. lowered their price target on shares of Kilroy Realty from $42.00 to $40.00 and set an "overweight" rating on the stock in a report on Wednesday, July 2nd. Royal Bank Of Canada decreased their price objective on shares of Kilroy Realty from $44.00 to $39.00 and set a "sector perform" rating for the company in a research report on Monday, March 10th. Finally, KeyCorp decreased their price objective on shares of Kilroy Realty from $45.00 to $41.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Kilroy Realty has an average rating of "Hold" and a consensus price target of $38.90.

About Kilroy Realty

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.