Vestcor Inc Makes New Investment in Kilroy Realty Corporation (NYSE:KRC)

Key Points

• Vestcor Inc has acquired a new stake in Kilroy Realty Corporation, purchasing 21,746 shares valued at approximately $712,000 during the first quarter.
• Kilroy Realty reported earnings of $1.13 per share, exceeding expectations and showing a 3.3% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.54, yielding 5.9%, despite a current dividend payout ratio of 117.39%.

Vestcor Inc acquired a new stake in shares of Kilroy Realty Corporation (NYSE:KRC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 21,746 shares of the real estate investment trust's stock, valued at approximately $712,000.

Several other institutional investors have also modified their holdings of the stock. GSA Capital Partners LLP acquired a new position in shares of Kilroy Realty during the 1st quarter worth about $1,297,000. Federated Hermes Inc. increased its stake in Kilroy Realty by 5.9% during the 1st quarter. Federated Hermes Inc. now owns 1,382,605 shares of the real estate investment trust's stock worth $45,294,000 after buying an additional 76,817 shares in the last quarter. Meeder Asset Management Inc. raised its holdings 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 acquiring an additional 3,820 shares during the last quarter. LPL Financial LLC lifted its position in shares of Kilroy Realty by 8.2% in the first quarter. LPL Financial LLC now owns 57,091 shares of the real estate investment trust's stock valued at $1,870,000 after acquiring an additional 4,345 shares in the last quarter. Finally, Assetmark Inc. lifted its position in shares of Kilroy Realty by 8.3% in the first quarter. Assetmark Inc. now owns 28,203 shares of the real estate investment trust's stock valued at $924,000 after acquiring an additional 2,158 shares in the last quarter. Institutional investors and hedge funds own 94.22% of the company's stock.

Kilroy Realty Stock Down 0.9%

Shares of NYSE KRC opened at $36.54 on Friday. The company has a market capitalization of $4.32 billion, a P/E ratio of 19.86 and a beta of 1.22. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.35 and a quick ratio of 2.07. The company has a 50 day simple moving average of $35.32 and a 200-day simple moving average of $34.29. 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 issued its quarterly earnings data 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 return on equity of 3.92% and a net margin of 19.29%. The company had revenue of $289.89 million during the quarter, compared to analyst estimates of $268.84 million. During the same period in the prior year, the business posted $1.10 earnings per share. The firm's revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities research analysts predict that Kilroy Realty Corporation will post 4 earnings per share for the current year.

Kilroy Realty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Monday, June 30th were given a $0.54 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.16 dividend on an annualized basis and a yield of 5.9%. Kilroy Realty's dividend payout ratio is presently 117.39%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on KRC shares. JPMorgan Chase & Co. reduced their price objective 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. Scotiabank reduced their target price 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 lowered shares of Kilroy Realty from a "market perform" rating to an "underperform" rating and set a $35.00 price target on the stock. in a research report on Wednesday, July 16th. Wells Fargo & Company cut their price objective on shares of Kilroy Realty from $35.00 to $33.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. Finally, Mizuho decreased their target price on shares of Kilroy Realty from $43.00 to $35.00 and set a "neutral" rating on the stock in a research note on Monday, July 14th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Kilroy Realty presently has a consensus rating of "Hold" and a consensus price target of $37.91.

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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