Kilroy Realty Corporation (KRC) Downgraded to “Sell” at Zacks Investment Research
Kilroy Realty Corporation (NYSE:KRC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
According to Zacks, “Kilroy Realty Corporation owns, operates and develops commercial and industrial properties, primarily in California, Washington, and Arizona. At March 31, 1997, the Company owned 2.0 million square feet of commercial office space and 1.3 million square feet of industrial space. “
Other equities research analysts have also issued reports about the company. Stifel Nicolaus restated a “buy” rating on shares of Kilroy Realty Corporation in a report on Thursday, August 3rd. BidaskClub upgraded Kilroy Realty Corporation from a “strong sell” rating to a “sell” rating in a report on Monday. Evercore ISI upgraded Kilroy Realty Corporation from an “in-line” rating to an “outperform” rating and set a $78.00 target price for the company in a report on Monday. Finally, Deutsche Bank AG boosted their target price on Kilroy Realty Corporation from $75.00 to $78.00 and gave the stock a “hold” rating in a report on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $79.40.
Shares of Kilroy Realty Corporation (NYSE KRC) opened at 70.25 on Tuesday. Kilroy Realty Corporation has a 12 month low of $65.77 and a 12 month high of $78.33. The firm has a market cap of $6.90 billion, a P/E ratio of 51.05 and a beta of 0.74. The firm has a 50-day moving average of $72.12 and a 200 day moving average of $73.31.
Kilroy Realty Corporation (NYSE:KRC) last announced its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.01. The business had revenue of $180.60 million during the quarter, compared to analyst estimates of $178.63 million. Kilroy Realty Corporation had a return on equity of 4.11% and a net margin of 21.75%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.86 EPS. On average, equities research analysts anticipate that Kilroy Realty Corporation will post $1.26 EPS for the current fiscal year.
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In other news, insider Justin William Smart sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $76.66, for a total transaction of $766,600.00. Following the completion of the transaction, the insider now directly owns 93,017 shares in the company, valued at $7,130,683.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.28% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Amica Pension Fund Board of Trustees raised its position in shares of Kilroy Realty Corporation by 29.8% in the first quarter. Amica Pension Fund Board of Trustees now owns 43,402 shares of the real estate investment trust’s stock worth $3,128,000 after buying an additional 9,958 shares during the period. Great West Life Assurance Co. Can raised its position in shares of Kilroy Realty Corporation by 10.9% in the first quarter. Great West Life Assurance Co. Can now owns 122,602 shares of the real estate investment trust’s stock worth $8,834,000 after buying an additional 12,044 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Kilroy Realty Corporation by 10.2% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,388 shares of the real estate investment trust’s stock worth $1,109,000 after buying an additional 1,426 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Kilroy Realty Corporation by 6.1% in the first quarter. Oregon Public Employees Retirement Fund now owns 34,067 shares of the real estate investment trust’s stock worth $2,456,000 after buying an additional 1,944 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Kilroy Realty Corporation by 23.8% in the first quarter. Russell Investments Group Ltd. now owns 357,342 shares of the real estate investment trust’s stock worth $25,751,000 after buying an additional 68,773 shares during the period. Institutional investors own 99.72% of the company’s stock.
Kilroy Realty Corporation Company Profile
Kilroy Realty Corporation is a real estate investment trust (REIT). The Company operates through the office properties segment. It operates in office and mixed-use submarkets along the West Coast. It owns, develops, acquires and manages real estate assets, consisting primarily of Class A properties in the coastal regions of Los Angeles, Orange County, San Diego County, the San Francisco Bay Area and Greater Seattle.
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