Kilroy Realty (NYSE:KRC) Now Covered by Goldman Sachs Group

November 13th, 2019 - Comments Off - Filed Under - by Micah Haroldson

Goldman Sachs Group began coverage on shares of Kilroy Realty (NYSE:KRC) in a research report sent to investors on Friday, Benzinga’s Daily Ratings Newsletter reports. The firm issued a buy rating and a $94.00 price target on the real estate investment trust’s stock.

A number of other research firms have also recently weighed in on KRC. Zacks Investment Research upgraded Kilroy Realty from a hold rating to a buy rating and set a $87.00 price target on the stock in a report on Wednesday, October 16th. Robert W. Baird set a $91.00 price target on Kilroy Realty and gave the stock a buy rating in a report on Wednesday, August 21st. Deutsche Bank lowered their price target on Kilroy Realty from $89.00 to $86.00 and set a hold rating on the stock in a report on Thursday, October 10th. BTIG Research set a $89.00 price target on Kilroy Realty and gave the stock a buy rating in a report on Friday, October 18th. Finally, BMO Capital Markets restated a buy rating and issued a $84.00 price target on shares of Kilroy Realty in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $86.00.

NYSE KRC traded down $1.03 on Friday, hitting $81.98. 541,200 shares of the company’s stock were exchanged, compared to its average volume of 522,837. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.49 and a quick ratio of 1.49. The firm’s 50-day moving average price is $79.84 and its two-hundred day moving average price is $77.58. Kilroy Realty has a fifty-two week low of $59.05 and a fifty-two week high of $84.77. The firm has a market cap of $8.77 billion, a price-to-earnings ratio of 23.56, a P/E/G ratio of 2.88 and a beta of 0.75.

Kilroy Realty (NYSE:KRC) last released its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.52). The firm had revenue of $215.53 million during the quarter, compared to analyst estimates of $205.99 million. Kilroy Realty had a return on equity of 6.62% and a net margin of 35.04%. The business’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. On average, research analysts predict that Kilroy Realty will post 3.86 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Monday, September 30th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Friday, September 27th. Kilroy Realty’s dividend payout ratio is currently 55.75%.

In related news, CFO Tyler H. Rose sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $84.41, for a total value of $422,050.00. Following the sale, the chief financial officer now owns 121,508 shares of the company’s stock, valued at approximately $10,256,490.28. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO John B. Kilroy, Jr. sold 14,780 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $84.32, for a total value of $1,246,249.60. Following the completion of the sale, the chief executive officer now directly owns 1,071,143 shares in the company, valued at approximately $90,318,777.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,905 shares of company stock worth $1,678,018. Insiders own 2.26% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. CAPROCK Group Inc. purchased a new stake in Kilroy Realty in the 2nd quarter valued at approximately $205,000. Bailard Inc. purchased a new stake in Kilroy Realty in the 2nd quarter valued at approximately $214,000. BB&T Securities LLC lifted its stake in Kilroy Realty by 11.8% in the 2nd quarter. BB&T Securities LLC now owns 2,987 shares of the real estate investment trust’s stock valued at $220,000 after buying an additional 316 shares in the last quarter. Natixis lifted its stake in Kilroy Realty by 16.2% in the 2nd quarter. Natixis now owns 3,346 shares of the real estate investment trust’s stock valued at $247,000 after buying an additional 466 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its stake in Kilroy Realty by 172.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 3,523 shares of the real estate investment trust’s stock valued at $260,000 after buying an additional 2,230 shares in the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

About Kilroy Realty

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.