Kilroy Realty (NYSE:KRC) Rating Lowered to “Sector Underperform” at Scotiabank

Scotiabank cut shares of Kilroy Realty (NYSE:KRC) from a sector perform rating to a sector underperform rating in a research note released on Thursday, Marketbeat reports. Scotiabank currently has $38.00 target price on the real estate investment trust’s stock.

KRC has been the topic of several other research reports. 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 note on Wednesday, October 30th. Wells Fargo & Company dropped their price target on Kilroy Realty from $39.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 11th. Finally, Barclays increased their target price on shares of Kilroy Realty from $38.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $39.43.

Kilroy Realty Stock Performance

Shares of Kilroy Realty stock opened at $38.80 on Thursday. Kilroy Realty has a 52 week low of $29.72 and a 52 week high of $43.78. The company has a market capitalization of $4.58 billion, a PE ratio of 23.23 and a beta of 1.03. The stock’s fifty day moving average is $39.39 and its two-hundred day moving average is $35.71. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.89.

Kilroy Realty (NYSE:KRC) last posted its quarterly 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 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 company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.12 EPS. As a group, analysts expect that Kilroy Realty will post 4.41 earnings per share for the current year.

Kilroy Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Monday, September 30th were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 5.57%. The ex-dividend date was Monday, September 30th. Kilroy Realty’s dividend payout ratio is currently 129.34%.

Insider Buying and Selling

In related news, CAO Merryl Elizabeth Werber sold 3,000 shares of the business’s 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 transaction, the chief accounting officer now directly owns 26,401 shares in the company, valued at $1,033,335.14. The trade was a 10.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John Osmond sold 2,628 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was 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 directly owns 8,818 shares of the company’s stock, valued at approximately $352,720. This represents a 22.96 % decrease in their position. The disclosure for this sale can be found here. 2.49% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kilroy Realty

Several hedge funds have recently modified their holdings of the stock. Wiser Advisor Group LLC grew its position in Kilroy Realty by 67.5% during the 1st quarter. Wiser Advisor Group LLC now owns 757 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 305 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Kilroy Realty by 126.5% during the third quarter. UMB Bank n.a. now owns 967 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 540 shares during the last quarter. Blue Trust Inc. increased its position in shares of Kilroy Realty by 1,322.9% in the 2nd quarter. Blue Trust Inc. now owns 1,366 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 1,270 shares during the period. Versant Capital Management Inc raised its stake in Kilroy Realty by 2,510.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,462 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 1,406 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Kilroy Realty by 33.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,474 shares of the real estate investment trust’s stock worth $57,000 after acquiring an additional 371 shares during the last quarter. Institutional investors and hedge funds own 94.22% of the company’s stock.

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.