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

Kilroy Realty (NYSE:KRC) posted 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 firm had revenue of $289.94 million during the quarter, compared to the consensus estimate of $275.77 million. During the same quarter last year, the firm posted $1.12 EPS. The business’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 Price Performance

Shares of NYSE:KRC traded up $0.03 during trading on Thursday, reaching $40.80. 155,361 shares of the company traded hands, compared to its average volume of 1,054,246. Kilroy Realty has a 52 week low of $27.39 and a 52 week high of $43.78. The company’s 50 day moving average is $38.36 and its two-hundred day moving average is $35.14. The company has a quick ratio of 3.61, a current ratio of 3.61 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $4.79 billion, a PE ratio of 23.43 and a beta of 1.04.

Kilroy Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Monday, September 30th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date was Monday, September 30th. Kilroy Realty’s dividend payout ratio is currently 124.14%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Wells Fargo & Company reduced their price objective on Kilroy Realty from $39.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 11th. Barclays upped their price target 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. Scotiabank lowered their price objective on shares of Kilroy Realty from $41.00 to $38.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Finally, Evercore ISI boosted their target price on shares of Kilroy Realty from $40.00 to $41.00 and gave the stock an “in-line” rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $39.43.

Insiders Place Their Bets

In other news, EVP John Osmond sold 2,628 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $40.00, for a total transaction of $105,120.00. Following the completion of the transaction, the executive vice president now owns 8,818 shares of the company’s stock, valued at approximately $352,720. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Merryl Elizabeth Werber sold 3,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were 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 directly owns 26,401 shares in the company, valued at approximately $1,033,335.14. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Osmond sold 2,628 shares of the firm’s stock in a transaction on 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 directly owns 8,818 shares in the company, valued at approximately $352,720. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.49% of the company’s stock.

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.