PGGM Investments Grows Position in Kilroy Realty Corporation $KRC

Key Points

• PGGM Investments has increased its stake in Kilroy Realty Corporation (KRC) by 8.2%, owning over 3.1 million shares valued at approximately $106.4 million, making it the firm’s 20th largest position.
• Analysts have raised their price targets for Kilroy Realty, with Wells Fargo increasing it from $33.00 to $40.00, while Zacks Research has upgraded the stock to a "hold" rating.
• Kilroy Realty announced a quarterly dividend of $0.54, with a yield of 5.1%, set to be paid on October 8th to investors of record on September 30th.

PGGM Investments increased its holdings in Kilroy Realty Corporation (NYSE:KRC - Free Report) by 8.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,100,393 shares of the real estate investment trust's stock after acquiring an additional 234,624 shares during the quarter. Kilroy Realty makes up about 1.8% of PGGM Investments' investment portfolio, making the stock its 20th largest position. PGGM Investments owned approximately 2.62% of Kilroy Realty worth $106,374,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in KRC. American National Bank & Trust purchased a new stake in shares of Kilroy Realty during the second quarter valued at about $25,000. Allworth Financial LP lifted its position in shares of 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 buying an additional 634 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Kilroy Realty by 46.0% during the second quarter. UMB Bank n.a. now owns 1,694 shares of the real estate investment trust's stock valued at $58,000 after buying an additional 534 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Kilroy Realty by 22.5% during the first 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 during the last quarter. Finally, Meeder Asset Management Inc. lifted its position in shares of Kilroy Realty by 3,410.7% during the first quarter. Meeder Asset Management Inc. now owns 3,932 shares of the real estate investment trust's stock valued at $129,000 after buying an additional 3,820 shares during the last quarter. 94.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wells Fargo & Company increased their price target on shares of Kilroy Realty from $33.00 to $40.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 27th. Evercore ISI increased their price target on shares of Kilroy Realty from $42.00 to $46.00 and gave the company an "in-line" rating in a research report on Monday, September 8th. Royal Bank Of Canada increased their price objective on shares of Kilroy Realty from $39.00 to $40.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. Scotiabank raised shares of Kilroy Realty from a "sector underperform" rating to a "sector perform" rating and increased their price objective for the company from $40.00 to $47.00 in a research report on Wednesday, September 17th. Finally, Zacks Research raised shares of Kilroy Realty to a "hold" rating in a research report on Friday, August 8th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $39.45.

Insider Activity at Kilroy Realty

In other news, EVP Eliott Trencher sold 3,997 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $38.05, for a total transaction of $152,085.85. Following the sale, the executive vice president owned 43,826 shares of the company's stock, valued at $1,667,579.30. This trade represents a 8.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Merryl Elizabeth Werber sold 6,250 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $38.28, for a total transaction of $239,250.00. Following the sale, the chief accounting officer directly owned 26,435 shares in the company, valued at $1,011,931.80. The trade was a 19.12% decrease in their position. The disclosure for this sale can be found here. 2.49% of the stock is currently owned by corporate insiders.

Kilroy Realty Price Performance

Shares of NYSE:KRC opened at $42.25 on Wednesday. Kilroy Realty Corporation has a twelve month low of $27.07 and a twelve month high of $45.03. The company's 50 day moving average is $40.46 and its 200 day moving average is $35.82. 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 company has a market cap of $5.00 billion, a PE ratio of 22.96 and a beta of 1.26.

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 for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $268.84 million. During the same quarter in the prior year, the company earned $1.10 EPS. Kilroy Realty's quarterly revenue was up 3.3% on a year-over-year basis. Kilroy Realty has set its FY 2025 guidance at 4.050-4.150 EPS. On average, sell-side analysts forecast that Kilroy Realty Corporation will post 4 EPS for the current year.

Kilroy Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 8th. Investors of record on Tuesday, September 30th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 5.1%. The ex-dividend date is Tuesday, September 30th. Kilroy Realty's dividend payout ratio is 117.39%.

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.

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