Kilroy Realty (NYSE:KRC) Releases Earnings Results, Misses Estimates By $0.60 EPS

Kilroy Realty (NYSE:KRC) released its earnings results on Monday. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.60), Zacks reports. Kilroy Realty had a net margin of 17.91% and a return on equity of 3.52%. The company had revenue of $289.94 million for the quarter, compared to analyst estimates of $275.77 million. During the same quarter in the previous year, the firm earned $1.12 EPS. The firm’s revenue was up 2.2% on a year-over-year basis. Kilroy Realty updated its FY24 guidance to $4.38-4.44 EPS and its FY 2024 guidance to 4.380-4.440 EPS.

Kilroy Realty Trading Down 0.5 %

Shares of Kilroy Realty stock traded down $0.19 on Tuesday, hitting $41.43. The stock had a trading volume of 330,461 shares, compared to its average volume of 1,049,131. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of 23.77 and a beta of 1.04. The stock’s 50-day simple moving average is $38.09 and its two-hundred day simple moving average is $35.04. Kilroy Realty has a one year low of $27.39 and a one year high of $43.78. The company has a quick ratio of 3.61, a current ratio of 3.61 and a debt-to-equity ratio of 0.91.

Kilroy Realty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Monday, September 30th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 5.21%. The ex-dividend date of this dividend was Monday, September 30th. Kilroy Realty’s dividend payout ratio is 124.14%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on KRC. Scotiabank reduced their target price on shares of Kilroy Realty from $41.00 to $38.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. KeyCorp reduced their price target on shares of Kilroy Realty from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Barclays increased their target price on shares of Kilroy Realty from $38.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Monday. Evercore ISI raised their target price on shares of Kilroy Realty from $38.00 to $40.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company reduced their price target on shares of Kilroy Realty from $39.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 11th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $39.29.

Insider Activity at Kilroy Realty

In other Kilroy Realty news, CAO Merryl Elizabeth Werber sold 3,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $39.14, for a total transaction of $117,420.00. Following the completion of the transaction, the chief accounting officer now owns 26,401 shares of the company’s stock, valued at approximately $1,033,335.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO Merryl Elizabeth Werber sold 3,000 shares of Kilroy Realty stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $39.14, for a total value of $117,420.00. Following the completion of the transaction, the chief accounting officer now owns 26,401 shares of the company’s stock, valued at $1,033,335.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Osmond sold 2,628 shares of Kilroy Realty stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $40.00, for a total value of $105,120.00. Following the completion of the transaction, the executive vice president now directly owns 8,818 shares of the company’s stock, valued at approximately $352,720. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.49% of the stock is currently owned by company insiders.

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.