Kilroy Realty Corp (NYSE:KRC) Shares Bought by Northern Trust Corp
Northern Trust Corp increased its holdings in shares of Kilroy Realty Corp (NYSE:KRC) by 4.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,377,665 shares of the real estate investment trust’s stock after acquiring an additional 53,561 shares during the quarter. Northern Trust Corp’s holdings in Kilroy Realty were worth $104,646,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc raised its stake in shares of Kilroy Realty by 3.7% in the 3rd quarter. Vanguard Group Inc now owns 14,721,499 shares of the real estate investment trust’s stock valued at $1,055,385,000 after purchasing an additional 522,383 shares during the period. BlackRock Inc. raised its stake in shares of Kilroy Realty by 1.4% in the 4th quarter. BlackRock Inc. now owns 12,203,745 shares of the real estate investment trust’s stock valued at $767,371,000 after purchasing an additional 162,599 shares during the period. Cohen & Steers Inc. raised its stake in shares of Kilroy Realty by 2.8% in the 4th quarter. Cohen & Steers Inc. now owns 10,927,244 shares of the real estate investment trust’s stock valued at $687,105,000 after purchasing an additional 293,246 shares during the period. Norges Bank acquired a new stake in shares of Kilroy Realty in the 4th quarter valued at about $377,416,000. Finally, PGGM Investments raised its stake in shares of Kilroy Realty by 29.6% in the 1st quarter. PGGM Investments now owns 5,290,738 shares of the real estate investment trust’s stock valued at $401,884,000 after purchasing an additional 1,208,738 shares during the period. 96.67% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Justin William Smart sold 5,000 shares of Kilroy Realty stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $76.71, for a total value of $383,550.00. Following the sale, the insider now owns 119,507 shares of the company’s stock, valued at $9,167,381.97. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jolie A. Hunt sold 4,434 shares of Kilroy Realty stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $75.02, for a total value of $332,638.68. Following the completion of the sale, the director now directly owns 4,099 shares in the company, valued at approximately $307,506.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,277 shares of company stock worth $1,003,376. 2.26% of the stock is owned by company insiders.
Kilroy Realty (NYSE:KRC) last released its earnings results on Monday, May 6th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.56). The company had revenue of $201.20 million during the quarter, compared to analyst estimates of $190.73 million. Kilroy Realty had a net margin of 33.84% and a return on equity of 6.27%. Kilroy Realty’s revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.94 EPS. On average, analysts anticipate that Kilroy Realty Corp will post 3.71 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 17th. Investors of record on Friday, June 28th will be given a $0.485 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.51%. This is an increase from Kilroy Realty’s previous quarterly dividend of $0.46. Kilroy Realty’s payout ratio is currently 52.30%.
A number of analysts recently issued reports on the company. Robert W. Baird raised Kilroy Realty from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $82.00 to $86.00 in a research report on Friday, March 1st. Goldman Sachs Group raised Kilroy Realty from a “neutral” rating to a “buy” rating and lifted their target price for the company from $80.00 to $81.00 in a research report on Monday, March 11th. ValuEngine downgraded Kilroy Realty from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. Finally, Deutsche Bank lifted their target price on Kilroy Realty from $80.00 to $82.00 and gave the company a “hold” rating in a research report on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Kilroy Realty presently has a consensus rating of “Hold” and a consensus target price of $80.60.
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Kilroy Realty Company Profile
Kilroy Realty Corporation (KRC), a publicly traded real estate investment trust and member of the S&P MidCap 400 Index, is one of the West Coast's premier landlords. The company has over 70 years of experience developing, acquiring and managing office and mixed-use real estate assets. The company provides physical work environments that foster creativity and productivity and serves a broad roster of dynamic, innovation-driven tenants, including technology, entertainment, digital media and health care companies.
See Also: Initial Public Offering (IPO)
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