Kilroy Realty (NYSE:KRC) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.
According to Zacks, "Kilroy Realty Corporation, a publicly traded real estate investment trust and member of the S&P Midcap 400 Index, is one of the West Coast's premier landlords. The Company provides physical work environments that foster creativity and productivity and serves a broad roster of dynamic, innovation-driven tenants, including technology, entertainment, digital media and health care companies. "
Several other research firms also recently weighed in on KRC. JPMorgan Chase & Co. downgraded shares of Kilroy Realty from an "overweight" rating to a "neutral" rating and set a $65.00 price objective for the company. in a research report on Monday, December 21st. Jefferies Financial Group raised shares of Kilroy Realty from a "hold" rating to a "buy" rating and boosted their price objective for the company from $58.00 to $66.00 in a research report on Wednesday, January 13th. Scotiabank raised shares of Kilroy Realty from a "sector perform" rating to a "sector outperform" rating and boosted their price objective for the company from $57.00 to $67.00 in a research report on Monday, January 25th. BMO Capital Markets boosted their price objective on shares of Kilroy Realty from $75.00 to $79.00 and gave the company an "outperform" rating in a research report on Monday. Finally, Mizuho downgraded shares of Kilroy Realty from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $62.00 to $58.00 in a research report on Monday, January 11th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of "Hold" and a consensus target price of $61.25.
Shares of KRC traded up $0.17 during midday trading on Wednesday, hitting $67.17. The company had a trading volume of 650,282 shares, compared to its average volume of 1,255,437. The company's 50 day moving average price is $65.40 and its 200 day moving average price is $58.79. The stock has a market cap of $7.82 billion, a price-to-earnings ratio of 41.21, a PEG ratio of 2.86 and a beta of 0.91. Kilroy Realty has a 52 week low of $45.28 and a 52 week high of $70.54. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.75.
Kilroy Realty (NYSE:KRC) last released its earnings results on Sunday, January 31st. The real estate investment trust reported $0.67 earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of $0.97 by ($0.30). Kilroy Realty had a return on equity of 3.56% and a net margin of 20.35%. Equities analysts anticipate that Kilroy Realty will post 3.74 EPS for the current fiscal year.
In other news, President Tyler H. Rose sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, March 11th. The shares were sold at an average price of $68.31, for a total value of $683,100.00. Following the completion of the sale, the president now directly owns 153,455 shares of the company's stock, valued at approximately $10,482,511.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider A. Robert Paratte sold 23,595 shares of the stock in a transaction that occurred on Wednesday, March 10th. The shares were sold at an average price of $68.14, for a total transaction of $1,607,763.30. Following the sale, the insider now directly owns 21,187 shares of the company's stock, valued at $1,443,682.18. The disclosure for this sale can be found here. Corporate insiders own 2.22% of the company's stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Kilroy Realty by 3.8% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,859 shares of the real estate investment trust's stock valued at $393,000 after purchasing an additional 254 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its stake in Kilroy Realty by 0.6% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 68,444 shares of the real estate investment trust's stock valued at $3,928,000 after purchasing an additional 379 shares during the last quarter. QS Investors LLC lifted its stake in Kilroy Realty by 11.9% during the fourth quarter. QS Investors LLC now owns 4,748 shares of the real estate investment trust's stock valued at $273,000 after purchasing an additional 506 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Kilroy Realty during the fourth quarter valued at approximately $29,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Kilroy Realty by 1.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,416 shares of the real estate investment trust's stock valued at $2,549,000 after purchasing an additional 621 shares during the last quarter. 94.74% of the stock is owned by institutional investors and hedge funds.
Kilroy Realty Company Profile
Kilroy Realty Corporation (NYSE: KRC, the ÂcompanyÂ, ÂKRCÂ) is a leading West Coast landlord and developer, with a major presence in San Diego, Greater Los Angeles, the San Francisco Bay Area, and the Pacific Northwest. The company has earned global recognition for sustainability, building operations, innovation and design.
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