Kilroy Realty Co. Plans Quarterly Dividend of $0.54 (NYSE:KRC)

Kilroy Realty Co. (NYSE:KRC) declared a quarterly dividend on Thursday, December 5th,RTT News reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.54 per share by the real estate investment trust on Wednesday, January 8th. This represents a $2.16 dividend on an annualized basis and a yield of 5.36%.

Kilroy Realty has raised its dividend by an average of 3.1% per year over the last three years. Kilroy Realty has a dividend payout ratio of 161.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Kilroy Realty to earn $4.19 per share next year, which means the company should continue to be able to cover its $2.16 annual dividend with an expected future payout ratio of 51.6%.

Kilroy Realty Stock Down 0.7 %

NYSE:KRC traded down $0.30 during mid-day trading on Thursday, reaching $40.30. The stock had a trading volume of 1,123,670 shares, compared to its average volume of 1,055,859. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 24.31 and a beta of 1.03. Kilroy Realty has a 1-year low of $30.71 and a 1-year high of $43.78. The stock’s 50 day simple moving average is $40.14 and its two-hundred day simple moving average is $36.29. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.08 and a quick ratio of 3.08.

Kilroy Realty (NYSE:KRC) last released its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.60). The business had revenue of $289.94 million for the quarter, compared to the consensus estimate of $275.77 million. Kilroy Realty had a net margin of 17.78% and a return on equity of 3.53%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm posted $1.12 EPS. Equities analysts anticipate that Kilroy Realty will post 4.41 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on KRC shares. Evercore ISI boosted their target price on Kilroy Realty from $40.00 to $41.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Barclays upped their price target on Kilroy Realty from $38.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Scotiabank cut Kilroy Realty from a “sector perform” rating to a “sector underperform” rating and set a $38.00 price target on the stock. in a report on Thursday, November 14th. Finally, Wells Fargo & Company dropped their price target on Kilroy Realty from $39.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $39.43.

Insiders Place Their Bets

In related news, EVP John Osmond sold 2,628 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $40.00, for a total value of $105,120.00. Following the sale, the executive vice president now owns 8,818 shares of the company’s stock, valued at $352,720. The trade was a 22.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Heidi Rena Roth sold 12,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $42.28, for a total transaction of $507,360.00. Following the completion of the sale, the insider now directly owns 50,211 shares in the company, valued at approximately $2,122,921.08. The trade was a 19.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,628 shares of company stock valued at $729,900 in the last quarter. Insiders own 2.49% of the company’s stock.

Kilroy Realty Company Profile

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.