Kilroy Realty (NYSE:KRC) Releases FY24 Earnings Guidance

Kilroy Realty (NYSE:KRC) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $4.38-4.44 for the period, compared to the consensus estimate of $4.28. Kilroy Realty also updated its FY 2024 guidance to 4.380-4.440 EPS.

Kilroy Realty Trading Down 0.8 %

NYSE KRC opened at $41.30 on Wednesday. Kilroy Realty has a 1-year low of $27.39 and a 1-year high of $43.78. The company has a current ratio of 3.61, a quick ratio of 3.61 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $4.85 billion, a PE ratio of 23.74 and a beta of 1.04. The firm’s fifty day simple moving average is $38.24 and its 200-day simple moving average is $35.10.

Kilroy Realty (NYSE:KRC) last posted its earnings results on Monday, October 28th. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.60). The business had revenue of $289.94 million for 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 quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.12 earnings per share. As a group, sell-side analysts anticipate that Kilroy Realty will post 4.25 earnings per share for the current fiscal year.

Kilroy Realty Announces Dividend

The firm 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 5.23%. The ex-dividend date was Monday, September 30th. Kilroy Realty’s dividend payout ratio is currently 124.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on KRC shares. Barclays increased their target price on shares of Kilroy Realty from $38.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday. Scotiabank reduced their target price on shares of Kilroy Realty from $41.00 to $38.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Evercore ISI raised their price target on shares of Kilroy Realty from $38.00 to $40.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Wells Fargo & Company cut their price target on shares of Kilroy Realty from $39.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, September 11th. Finally, KeyCorp cut their price target on shares of Kilroy Realty from $45.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Kilroy Realty currently has an average rating of “Hold” and an average price target of $39.29.

Insider Activity

In related news, EVP John Osmond sold 2,628 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $40.00, for a total value of $105,120.00. Following the completion of the sale, the executive vice president now owns 8,818 shares of the company’s stock, valued at $352,720. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 shares were sold at an average price of $39.14, for a total transaction 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 approximately $1,033,335.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Osmond sold 2,628 shares of Kilroy Realty stock in a transaction on Wednesday, September 18th. The stock was 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.49% of the stock is currently owned by corporate insiders.

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.