Verition Fund Management LLC Takes Position in Kilroy Realty Corp (KRC)
Verition Fund Management LLC purchased a new position in Kilroy Realty Corp (NYSE:KRC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,194 shares of the real estate investment trust’s stock, valued at approximately $847,000.
Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Kilroy Realty by 0.6% in the second quarter. BlackRock Inc. now owns 11,717,544 shares of the real estate investment trust’s stock worth $886,315,000 after purchasing an additional 69,048 shares during the period. Stevens Capital Management LP bought a new position in shares of Kilroy Realty in the second quarter worth $4,570,000. Point72 Hong Kong Ltd bought a new position in shares of Kilroy Realty in the second quarter worth $348,000. Altman Advisors Inc. bought a new position in shares of Kilroy Realty in the second quarter worth $3,003,000. Finally, Quantitative Systematic Strategies LLC increased its holdings in shares of Kilroy Realty by 182.4% in the second quarter. Quantitative Systematic Strategies LLC now owns 17,425 shares of the real estate investment trust’s stock worth $1,318,000 after purchasing an additional 11,255 shares during the period. 96.57% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on KRC. Deutsche Bank upped their price target on shares of Kilroy Realty from $81.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, August 29th. Robert W. Baird reiterated a “hold” rating and issued a $78.00 target price on shares of Kilroy Realty in a research report on Wednesday, August 1st. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $78.14.
Kilroy Realty (NYSE:KRC) last announced its earnings results on Wednesday, July 25th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.63). Kilroy Realty had a return on equity of 4.12% and a net margin of 22.42%. The company had revenue of $187.10 million during the quarter, compared to analysts’ expectations of $182.30 million. During the same quarter last year, the firm posted $0.87 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. sell-side analysts predict that Kilroy Realty Corp will post 3.58 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 17th. Investors of record on Friday, September 28th will be given a $0.455 dividend. The ex-dividend date is Thursday, September 27th. This represents a $1.82 annualized dividend and a yield of 2.61%. Kilroy Realty’s dividend payout ratio (DPR) is presently 53.53%.
Kilroy Realty 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.
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