Kilroy Realty (NYSE:KRC) Posts Quarterly Earnings Results, Misses Expectations By $0.67 EPS

Kilroy Realty (NYSE:KRC) released its quarterly earnings results on Wednesday. The real estate investment trust reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.67), Zacks reports. The firm had revenue of $280.73 million during the quarter, compared to analyst estimates of $276.81 million. Kilroy Realty had a net margin of 17.91% and a return on equity of 3.52%. Kilroy Realty’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.19 earnings per share. Kilroy Realty updated its FY 2024 guidance to 4.210-4.310 EPS.

Kilroy Realty Trading Down 4.1 %

Shares of KRC traded down $1.45 on Friday, reaching $33.80. 1,225,624 shares of the company’s stock were exchanged, compared to its average volume of 1,033,524. The company has a current ratio of 3.61, a quick ratio of 3.30 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $3.97 billion, a P/E ratio of 19.43 and a beta of 1.04. The business has a 50 day moving average price of $33.19 and a two-hundred day moving average price of $34.56. Kilroy Realty has a 12 month low of $26.78 and a 12 month high of $43.37.

Kilroy Realty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 28th were paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 6.39%. The ex-dividend date of this dividend was Friday, June 28th. Kilroy Realty’s dividend payout ratio (DPR) is 124.14%.

Analyst Upgrades and Downgrades

A number of research firms have commented on KRC. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Kilroy Realty from $40.00 to $34.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. KeyCorp reduced their price target on shares of Kilroy Realty from $45.00 to $42.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Kilroy Realty presently has a consensus rating of “Hold” and a consensus target price of $38.20.

Insider Buying and Selling

In related news, CAO Merryl Elizabeth Werber sold 3,329 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $33.66, for a total transaction of $112,054.14. Following the completion of the sale, the chief accounting officer now directly owns 29,081 shares of the company’s stock, valued at $978,866.46. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Merryl Elizabeth Werber sold 3,329 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $33.66, for a total transaction of $112,054.14. Following the completion of the sale, the chief accounting officer now directly owns 29,081 shares of the company’s stock, valued at $978,866.46. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider A. Robert Paratte sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $33.35, for a total transaction of $400,200.00. Following the sale, the insider now directly owns 68,139 shares of the company’s stock, valued at $2,272,435.65. The disclosure for this sale can be found here. 2.49% of the stock is currently owned by insiders.

About Kilroy Realty

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.