Kilroy Realty (NYSE:KRC) Hits New 12-Month High After Dividend Announcement

Key Points

• Kilroy Realty Corporation reached a new 52-week high of $43.80 in trading, reflecting increased market interest as the stock last traded at $43.45.
• Several brokerages have upgraded their price targets for KRC, with Evercore ISI raising it to $46.00 and Barclays setting it at $43.00, indicating confidence in the company's performance.
• Kilroy Realty reported earnings per share of $1.13, exceeding analysts' estimates and showing a revenue increase year-over-year, while maintaining a robust market capitalization of $5.13 billion.

Shares of Kilroy Realty Corporation (NYSE:KRC - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday after the company announced a dividend. The company traded as high as $43.80 and last traded at $43.45, with a volume of 40959 shares changing hands. The stock had previously closed at $43.60.

The newly announced dividend which will be paid on Wednesday, October 8th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.54 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.16 annualized dividend and a yield of 4.9%. Kilroy Realty's dividend payout ratio is currently 117.39%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Barclays restated an "equal weight" rating and set a $43.00 target price on shares of Kilroy Realty in a research note on Thursday, September 4th. Scotiabank upgraded shares of Kilroy Realty from a "sector underperform" rating to a "sector perform" rating and upped their target price for the company from $40.00 to $47.00 in a research note on Wednesday. Evercore ISI upped their target price on shares of Kilroy Realty from $42.00 to $46.00 and gave the company an "in-line" rating in a research note on Monday, September 8th. The Goldman Sachs Group restated a "sell" rating and set a $33.00 target price on shares of Kilroy Realty in a research note on Thursday, August 21st. Finally, Zacks Research upgraded shares of Kilroy Realty to a "hold" rating in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $39.45.

Kilroy Realty Stock Down 0.4%

The company's fifty day moving average is $39.59 and its 200-day moving average is $35.30. The company has a market capitalization of $5.23 billion, a PE ratio of 24.05 and a beta of 1.26. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.35 and a current ratio of 2.35.

Kilroy Realty (NYSE:KRC - Get Free Report) last released its earnings results on Monday, July 28th. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.12. The company had revenue of $289.89 million during the quarter, compared to analyst estimates of $268.84 million. Kilroy Realty had a net margin of 19.29% and a return on equity of 3.92%. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.10 EPS. Kilroy Realty has set its FY 2025 guidance at 4.050-4.150 EPS. As a group, analysts predict that Kilroy Realty Corporation will post 4 EPS for the current fiscal year.

Insider Activity at Kilroy Realty

In related news, EVP Eliott Trencher sold 3,997 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $38.05, for a total value of $152,085.85. Following the completion of the sale, the executive vice president directly owned 43,826 shares of the company's stock, valued at approximately $1,667,579.30. This represents a 8.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Merryl Elizabeth Werber sold 6,250 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were 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 of the company's stock, valued at approximately $1,011,931.80. This trade represents a 19.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company's stock.

Institutional Investors Weigh In On Kilroy Realty

A number of institutional investors have recently added to or reduced their stakes in KRC. Norges Bank bought a new position in shares of Kilroy Realty during the 2nd quarter valued at approximately $310,746,000. Daiwa Securities Group Inc. boosted its position in shares of Kilroy Realty by 168.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 3,562,992 shares of the real estate investment trust's stock valued at $122,246,000 after acquiring an additional 2,236,539 shares during the last quarter. Route One Investment Company L.P. bought a new position in shares of Kilroy Realty during the 2nd quarter valued at approximately $34,341,000. Northern Trust Corp boosted its position in shares of Kilroy Realty by 39.5% during the 1st quarter. Northern Trust Corp now owns 2,923,836 shares of the real estate investment trust's stock valued at $95,785,000 after acquiring an additional 827,365 shares during the last quarter. Finally, Long Pond Capital LP bought a new position in shares of Kilroy Realty during the 1st quarter valued at approximately $24,183,000. 94.22% of the stock is owned by hedge funds and other institutional investors.

Kilroy Realty Company 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.