Royal Bank of Canada Cuts Kilroy Realty (NYSE:KRC) Price Target to $39.00

Kilroy Realty (NYSE:KRC) had its price objective trimmed by Royal Bank of Canada from $44.00 to $39.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a sector perform rating on the real estate investment trust’s stock.

KRC has been the topic of several other research reports. The Goldman Sachs Group decreased their price target on Kilroy Realty from $48.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. JPMorgan Chase & Co. raised shares of Kilroy Realty from a “neutral” rating to an “overweight” rating and increased their target price for the company from $45.00 to $49.00 in a research note on Friday, December 20th. Scotiabank cut shares of Kilroy Realty from a “sector perform” rating to a “sector underperform” rating and set a $38.00 price target for the company. in a research note on Thursday, November 14th. Wells Fargo & Company downgraded shares of Kilroy Realty from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $43.00 to $35.00 in a report on Monday. Finally, Jefferies Financial Group downgraded shares of Kilroy Realty from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $45.00 to $41.00 in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kilroy Realty has a consensus rating of “Hold” and an average target price of $40.73.

Kilroy Realty Trading Up 1.4 %

Shares of KRC opened at $32.92 on Monday. The stock has a market capitalization of $3.89 billion, a PE ratio of 18.60 and a beta of 1.02. The company’s fifty day moving average is $36.37 and its 200 day moving average is $38.41. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.21 and a current ratio of 2.21. Kilroy Realty has a fifty-two week low of $30.71 and a fifty-two week high of $43.78.

Kilroy Realty (NYSE:KRC) last posted its earnings results on Monday, February 10th. The real estate investment trust reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.17. Kilroy Realty had a net margin of 18.58% and a return on equity of 3.75%. Sell-side analysts expect that Kilroy Realty will post 4 earnings per share for the current fiscal year.

Kilroy Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 6.56%. The ex-dividend date of this dividend is Monday, March 31st. Kilroy Realty’s payout ratio is 122.03%.

Insider Transactions at Kilroy Realty

In other Kilroy Realty news, CEO Angela M. Aman acquired 2,797 shares of Kilroy Realty stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average price of $35.45 per share, with a total value of $99,153.65. Following the completion of the purchase, the chief executive officer now directly owns 2,797 shares of the company’s stock, valued at approximately $99,153.65. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.49% of the company’s stock.

Institutional Investors Weigh In On Kilroy Realty

A number of hedge funds have recently made changes to their positions in KRC. Wilmington Savings Fund Society FSB bought a new position in Kilroy Realty in the third quarter worth about $34,000. Summit Securities Group LLC purchased a new position in shares of Kilroy Realty in the 4th quarter worth approximately $49,000. GAMMA Investing LLC grew its position in shares of Kilroy Realty by 25.4% in the 4th quarter. GAMMA Investing LLC now owns 1,848 shares of the real estate investment trust’s stock worth $75,000 after buying an additional 374 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in Kilroy Realty during the fourth quarter valued at approximately $82,000. Finally, Fifth Third Bancorp lifted its position in Kilroy Realty by 31.7% during the fourth quarter. Fifth Third Bancorp now owns 2,523 shares of the real estate investment trust’s stock valued at $102,000 after acquiring an additional 607 shares during the last quarter. 94.22% of the stock is currently owned by hedge funds and other institutional investors.

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.