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

Kilroy Realty (NYSE:KRC) announced its quarterly earnings data on Monday. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.60), Zacks reports. The company had revenue of $289.94 million during the quarter, compared to analyst estimates of $275.77 million. Kilroy Realty had a return on equity of 3.52% and a net margin of 17.91%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.12 EPS. 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 $0.11 during midday trading on Thursday, reaching $40.88. 145,157 shares of the company traded hands, compared to its average volume of 1,054,198. The firm has a market cap of $4.80 billion, a PE ratio of 23.43 and a beta of 1.04. The stock’s 50-day simple moving average is $38.36 and its 200-day simple moving average is $35.14. Kilroy Realty has a 12 month low of $27.39 and a 12 month high of $43.78. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.61 and a current ratio of 3.61.

Kilroy Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Monday, September 30th were issued a dividend of $0.54 per share. The ex-dividend date was Monday, September 30th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 5.28%. Kilroy Realty’s payout ratio is presently 124.14%.

Insider Buying and Selling at Kilroy Realty

In other Kilroy Realty news, CAO Merryl Elizabeth Werber sold 3,000 shares of Kilroy Realty stock in a transaction on Wednesday, September 18th. The stock was 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 of the company’s stock, valued at approximately $1,033,335.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP John Osmond sold 2,628 shares of Kilroy Realty stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $40.00, for a total value of $105,120.00. Following the completion of the transaction, the executive vice president now directly owns 8,818 shares of the company’s stock, valued at $352,720. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Merryl Elizabeth Werber sold 3,000 shares of Kilroy Realty stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $39.14, for a total value of $117,420.00. Following the completion of the transaction, the chief accounting officer now directly owns 26,401 shares of the company’s stock, valued at $1,033,335.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.49% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on KRC. Wells Fargo & Company lowered their price objective on shares of 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 lifted 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 note on Monday. Scotiabank decreased their price target on shares of Kilroy Realty from $41.00 to $38.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Finally, Evercore ISI lifted their price target 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 investment 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 has a consensus rating of “Hold” and an average target price of $39.43.

Kilroy Realty Company Profile

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.