Principal Financial Group Inc. Decreases Stake in Kilroy Realty Co. (NYSE:KRC)

Principal Financial Group Inc. cut its holdings in shares of Kilroy Realty Co. (NYSE:KRC) by 4.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,644,147 shares of the real estate investment trust’s stock after selling 220,032 shares during the quarter. Principal Financial Group Inc.’s holdings in Kilroy Realty were worth $179,728,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HF Advisory Group LLC purchased a new stake in shares of Kilroy Realty during the 3rd quarter valued at approximately $1,086,000. QRG Capital Management Inc. boosted its holdings in shares of Kilroy Realty by 16.8% in the third quarter. QRG Capital Management Inc. now owns 8,617 shares of the real estate investment trust’s stock worth $333,000 after acquiring an additional 1,239 shares during the period. Van ECK Associates Corp grew its position in shares of Kilroy Realty by 11.7% in the third quarter. Van ECK Associates Corp now owns 23,178 shares of the real estate investment trust’s stock valued at $961,000 after purchasing an additional 2,428 shares in the last quarter. abrdn plc lifted its holdings in Kilroy Realty by 9.0% during the 3rd quarter. abrdn plc now owns 23,661 shares of the real estate investment trust’s stock worth $916,000 after purchasing an additional 1,962 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Kilroy Realty by 19.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 46,597 shares of the real estate investment trust’s stock worth $1,768,000 after purchasing an additional 7,533 shares in the last quarter. Institutional investors own 94.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on KRC shares. Wells Fargo & Company lowered their price target on shares of Kilroy Realty from $39.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, September 11th. Scotiabank lowered their target price 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. Barclays boosted their price target on shares of Kilroy Realty from $38.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Finally, Evercore ISI increased their price objective on Kilroy Realty from $40.00 to $41.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $39.43.

Insider Transactions at Kilroy Realty

In related news, CAO Merryl Elizabeth Werber sold 3,000 shares of the 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 sale, the chief accounting officer now directly owns 26,401 shares of the company’s stock, valued at $1,033,335.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related 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 value of $117,420.00. Following the completion of the sale, the chief accounting officer now owns 26,401 shares of the company’s stock, valued at $1,033,335.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John Osmond sold 2,628 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $40.00, for a total transaction of $105,120.00. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders own 2.49% of the company’s stock.

Kilroy Realty Trading Up 1.4 %

NYSE:KRC opened at $41.00 on Friday. The firm has a market capitalization of $4.84 billion, a P/E ratio of 24.55 and a beta of 1.03. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.08 and a quick ratio of 3.08. Kilroy Realty Co. has a one year low of $27.39 and a one year high of $43.78. The company’s 50-day simple moving average is $38.83 and its 200 day simple moving average is $35.42.

Kilroy Realty (NYSE:KRC) last posted its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.60). The company had revenue of $289.94 million during the quarter, compared to analysts’ expectations of $275.77 million. Kilroy Realty had a return on equity of 3.53% and a net margin of 17.78%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.12 EPS. As a group, analysts forecast that Kilroy Realty Co. will post 4.41 EPS for the current fiscal year.

Kilroy Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Monday, September 30th were given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 5.27%. The ex-dividend date of this dividend was Monday, September 30th. Kilroy Realty’s dividend payout ratio is presently 129.34%.

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.