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.
Kilroy Realty Stock Performance
NYSE:KRC traded down $0.45 during trading hours on Monday, hitting $53.11. 399,115 shares of the company's stock traded hands, compared to its average volume of 801,880. The business's fifty day moving average price is $52.87 and its two-hundred day moving average price is $63.61. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $6.21 billion, a P/E ratio of 32.19, a P/E/G ratio of 1.64 and a beta of 0.79. 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 announced a quarterly dividend, which was paid on Wednesday, July 13th. Investors of record on Thursday, June 30th were given a dividend of $0.52 per share. The ex-dividend date was Wednesday, June 29th. This represents a $2.08 annualized dividend and a yield of 3.92%. Kilroy Realty's dividend payout ratio (DPR) is 126.06%.
Analyst Upgrades and Downgrades
KRC has been the subject of several recent analyst reports. 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 report on Wednesday, July 6th. The Goldman Sachs Group upgraded shares of Kilroy Realty from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $87.00 to $84.00 in a research note on Wednesday, May 25th. TheStreet lowered shares of Kilroy Realty from a "b-" rating to a "c+" rating in a research note on Tuesday, May 31st. Jefferies Financial Group reduced their price target on shares of Kilroy Realty from $76.00 to $58.00 and set a "buy" rating for the company in a research note on Thursday, June 30th. Finally, Royal Bank of Canada reduced their price target on shares of Kilroy Realty from $80.00 to $68.00 and set an "outperform" rating for the company in a research note on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $68.27.