Lazard Asset Management LLC Boosts Position in Kilroy Realty Co. (NYSE:KRC)

Lazard Asset Management LLC grew its stake in shares of Kilroy Realty Co. (NYSE:KRC - Free Report) by 62.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,139 shares of the real estate investment trust's stock after purchasing an additional 24,734 shares during the quarter. Lazard Asset Management LLC owned approximately 0.05% of Kilroy Realty worth $2,593,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Lighthouse Investment Partners LLC purchased a new stake in Kilroy Realty in the fourth quarter worth about $1,320,000. Deutsche Bank AG lifted its stake in Kilroy Realty by 1,226.2% in the fourth quarter. Deutsche Bank AG now owns 815,491 shares of the real estate investment trust's stock worth $32,987,000 after acquiring an additional 753,999 shares during the period. Crestline Management LP purchased a new stake in Kilroy Realty in the fourth quarter worth about $10,847,000. Castle Hook Partners LP purchased a new stake in Kilroy Realty in the fourth quarter worth about $30,262,000. Finally, Cetera Investment Advisers lifted its stake in Kilroy Realty by 6.7% in the fourth quarter. Cetera Investment Advisers now owns 13,830 shares of the real estate investment trust's stock worth $559,000 after acquiring an additional 874 shares during the period. 94.22% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Kilroy Realty news, CEO Angela M. Aman purchased 2,797 shares of Kilroy Realty stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $35.45 per share, with a total value of $99,153.65. Following the transaction, the chief executive officer now owns 2,797 shares of the company's stock, valued at $99,153.65. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider A. Robert Paratte sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $34.74, for a total transaction of $208,440.00. Following the transaction, the insider now directly owns 86,744 shares of the company's stock, valued at $3,013,486.56. This represents a 6.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.49% of the company's stock.

Kilroy Realty Stock Down 0.4%

Shares of KRC traded down $0.13 during mid-day trading on Thursday, hitting $31.39. 235,139 shares of the company traded hands, compared to its average volume of 1,232,632. Kilroy Realty Co. has a 1-year low of $27.07 and a 1-year high of $43.78. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $3.71 billion, a PE ratio of 17.72 and a beta of 1.16. The business has a 50 day moving average of $32.07 and a 200 day moving average of $36.10.

Kilroy Realty (NYSE:KRC - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.01). Kilroy Realty had a net margin of 18.58% and a return on equity of 3.75%. The company had revenue of $270.84 million for the quarter, compared to analyst estimates of $274.90 million. During the same quarter last year, the company earned $1.11 EPS. The business's revenue was down 2.8% compared to the same quarter last year. Equities research analysts anticipate that Kilroy Realty Co. will post 4 EPS for the current year.

Kilroy Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.54 per share. The ex-dividend date is Monday, June 30th. This represents a $2.16 annualized dividend and a dividend yield of 6.88%. Kilroy Realty's dividend payout ratio (DPR) is currently 128.57%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on KRC shares. JPMorgan Chase & Co. lowered their price objective on shares of Kilroy Realty from $49.00 to $42.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Evercore ISI lowered their price objective on shares of Kilroy Realty from $43.00 to $41.00 and set an "in-line" rating for the company in a research note on Wednesday, February 12th. Royal Bank of Canada reduced their target price on shares of Kilroy Realty from $44.00 to $39.00 and set a "sector perform" rating for the company in a report on Monday, March 10th. Wells Fargo & Company reduced 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 report on Monday. Finally, Jefferies Financial Group started coverage on shares of Kilroy Realty in a report on Monday, March 17th. They issued a "hold" rating and a $34.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Kilroy Realty has an average rating of "Hold" and a consensus target price of $38.64.

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.