Kilroy Realty Corporation (NYSE: KRC, the company, KRC) 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. As pioneers and innovators in the creation of a more sustainable real estate industry, the company's approach to modern business environments helps drive creativity, productivity and employee retention for some of the world's leading technology, entertainment, life science and business services companies. KRC is a publicly traded real estate investment trust (REIT) and member of the S&P MidCap 400 Index with more than seven decades of experience developing, acquiring and managing office and mixed-use projects. As of September 30, 2020, KRC's stabilized portfolio totaled approximately 14.3 million square feet of primarily office and life science space that was 92.2% occupied and 95.5% leased. The company also had 808 residential units in Hollywood and San Diego, which had a quarterly average occupancy of 85.0% and 37.5%, respectively. In addition, KRC had seven in-process development projects with an estimated total investment of $1.9 billion, totaling approximately 2.3 million square feet of office and life science space. The office and life science space was 90% leased.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on KRC. The Goldman Sachs Group raised Kilroy Realty from a "neutral" rating to a "buy" rating and decreased their target price for the company from $87.00 to $84.00 in a research report on Wednesday, May 25th. Wells Fargo & Company lowered their target price on Kilroy Realty from $85.00 to $60.00 and set an "overweight" rating on the stock in a research report on Friday, July 1st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Kilroy Realty from $75.00 to $60.00 in a research report on Wednesday, July 20th. BMO Capital Markets lowered shares of Kilroy Realty from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $84.00 to $70.00 in a research note on Tuesday, May 31st. Finally, Mizuho decreased their target price on shares of Kilroy Realty from $77.00 to $60.00 and set a "buy" rating for the company in a research report on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Kilroy Realty currently has an average rating of "Moderate Buy" and a consensus target price of $68.27.
Kilroy Realty Price Performance
Kilroy Realty stock opened at $53.56 on Friday. The stock has a market cap of $6.26 billion, a P/E ratio of 32.46, a P/E/G ratio of 1.64 and a beta of 0.79. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.72. The company's 50 day moving average price is $52.99 and its two-hundred day moving average price is $63.67. Kilroy Realty has a 52 week low of $49.17 and a 52 week high of $79.06.
Kilroy Realty Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 13th. Shareholders of record on Thursday, June 30th were given a $0.52 dividend. The ex-dividend date was Wednesday, June 29th. This represents a $2.08 annualized dividend and a yield of 3.88%. Kilroy Realty's dividend payout ratio is currently 126.06%.