Wall Street brokerages predict that Kilroy Realty Corp (NYSE:KRC) will announce $196.82 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Kilroy Realty’s earnings, with the lowest sales estimate coming in at $189.33 million and the highest estimate coming in at $199.87 million. Kilroy Realty posted sales of $187.07 million during the same quarter last year, which suggests a positive year-over-year growth rate of 5.2%. The company is expected to announce its next quarterly earnings results after the market closes on Wednesday, July 24th.
On average, analysts expect that Kilroy Realty will report full year sales of $798.80 million for the current fiscal year, with estimates ranging from $767.68 million to $814.86 million. For the next financial year, analysts forecast that the business will report sales of $856.08 million, with estimates ranging from $835.65 million to $883.97 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Kilroy Realty.
Kilroy Realty (NYSE:KRC) last issued its earnings results on Monday, May 6th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.56). Kilroy Realty had a return on equity of 6.27% and a net margin of 33.84%. The company had revenue of $201.20 million during the quarter, compared to analyst estimates of $190.73 million. During the same period in the previous year, the company posted $0.94 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis.
KRC has been the subject of a number of recent analyst reports. ValuEngine cut Kilroy Realty from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. Deutsche Bank raised their price target on Kilroy Realty from $80.00 to $82.00 and gave the company a “hold” rating in a report on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $80.60.
KRC stock traded down $0.19 during midday trading on Friday, reaching $77.17. 18,307 shares of the company’s stock traded hands, compared to its average volume of 511,611. The business has a 50-day moving average of $75.47. Kilroy Realty has a 1-year low of $59.05 and a 1-year high of $78.98. The stock has a market cap of $7.69 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 2.83 and a beta of 0.77. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.72.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 17th. Stockholders of record on Friday, June 28th will be given a $0.485 dividend. This is a positive change from Kilroy Realty’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Thursday, June 27th. Kilroy Realty’s dividend payout ratio (DPR) is currently 55.75%.
In other news, CAO Merryl Elizabeth Werber sold 1,500 shares of the firm’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $78.00, for a total value of $117,000.00. Following the transaction, the chief accounting officer now directly owns 8,120 shares in the company, valued at approximately $633,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jolie A. Hunt sold 4,434 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $75.02, for a total value of $332,638.68. Following the completion of the transaction, the director now owns 4,099 shares in the company, valued at $307,506.98. The disclosure for this sale can be found here. 2.26% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the business. Cohen & Steers Inc. increased its position in Kilroy Realty by 2.8% during the fourth quarter. Cohen & Steers Inc. now owns 10,927,244 shares of the real estate investment trust’s stock worth $687,105,000 after buying an additional 293,246 shares during the last quarter. Norges Bank bought a new stake in shares of Kilroy Realty in the fourth quarter valued at approximately $377,416,000. PGGM Investments boosted its stake in shares of Kilroy Realty by 29.6% in the first quarter. PGGM Investments now owns 5,290,738 shares of the real estate investment trust’s stock valued at $401,884,000 after buying an additional 1,208,738 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Kilroy Realty by 8.9% in the first quarter. Principal Financial Group Inc. now owns 4,216,163 shares of the real estate investment trust’s stock valued at $320,260,000 after buying an additional 345,462 shares during the period. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Kilroy Realty by 6.5% in the first quarter. Daiwa Securities Group Inc. now owns 3,521,492 shares of the real estate investment trust’s stock valued at $267,492,000 after buying an additional 214,078 shares during the period. Hedge funds and other institutional investors own 96.67% of the company’s stock.
About Kilroy Realty
Kilroy Realty Corporation (KRC), a publicly traded real estate investment trust and member of the S&P MidCap 400 Index, is one of the West Coast's premier landlords. The company has over 70 years of experience developing, acquiring and managing office and mixed-use real estate assets. The company provides physical work environments that foster creativity and productivity and serves a broad roster of dynamic, innovation-driven tenants, including technology, entertainment, digital media and health care companies.
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