Kilroy Realty Corporation (KRC) Lowered to “Neutral” at Bank of America Corporation
Bank of America Corporation lowered shares of Kilroy Realty Corporation (NYSE:KRC) from a buy rating to a neutral rating in a research note published on Wednesday, MarketBeat reports. The firm currently has $77.00 price target on the real estate investment trust’s stock, down from their prior price target of $80.00.
Other analysts also recently issued reports about the company. Stifel Nicolaus restated a buy rating on shares of Kilroy Realty Corporation in a report on Thursday, August 3rd. BidaskClub upgraded Kilroy Realty Corporation from a hold rating to a buy rating in a report on Thursday, June 15th. Deutsche Bank AG upped their price objective on Kilroy Realty Corporation from $75.00 to $78.00 and gave the stock a hold rating in a report on Thursday, May 25th. Evercore ISI upgraded Kilroy Realty Corporation from an in-line rating to an outperform rating and set a $78.00 price objective for the company in a report on Monday, August 14th. Finally, Zacks Investment Research downgraded Kilroy Realty Corporation from a hold rating to a sell rating in a report on Tuesday, August 15th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $79.00.
Kilroy Realty Corporation (NYSE KRC) opened at 68.35 on Wednesday. Kilroy Realty Corporation has a 52-week low of $65.77 and a 52-week high of $78.33. The stock has a market capitalization of $6.72 billion, a price-to-earnings ratio of 49.67 and a beta of 0.74. The stock’s 50 day moving average price is $71.32 and its 200 day moving average price is $73.16.
Kilroy Realty Corporation (NYSE:KRC) last released its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.01. The business had revenue of $180.60 million during the quarter, compared to the consensus estimate of $178.63 million. Kilroy Realty Corporation had a return on equity of 4.11% and a net margin of 21.75%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 EPS. On average, analysts forecast that Kilroy Realty Corporation will post $1.26 EPS for the current year.
In related news, insider Justin William Smart sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $76.66, for a total transaction of $766,600.00. Following the completion of the sale, the insider now directly owns 93,017 shares of the company’s stock, valued at approximately $7,130,683.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.28% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Perigon Wealth Management LLC acquired a new stake in shares of Kilroy Realty Corporation during the first quarter worth $100,000. Invictus RG acquired a new stake in shares of Kilroy Realty Corporation during the first quarter worth $131,000. Advisor Group Inc. boosted its stake in shares of Kilroy Realty Corporation by 27.8% in the second quarter. Advisor Group Inc. now owns 1,961 shares of the real estate investment trust’s stock worth $147,000 after buying an additional 426 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Kilroy Realty Corporation during the first quarter worth $150,000. Finally, Flinton Capital Management LLC boosted its stake in shares of Kilroy Realty Corporation by 20.5% in the first quarter. Flinton Capital Management LLC now owns 2,912 shares of the real estate investment trust’s stock worth $210,000 after buying an additional 496 shares during the period. 99.72% of the stock is owned by hedge funds and other institutional investors.
About Kilroy Realty Corporation
Kilroy Realty Corporation is a real estate investment trust (REIT). The Company operates through the office properties segment. It operates in office and mixed-use submarkets along the West Coast. It owns, develops, acquires and manages real estate assets, consisting primarily of Class A properties in the coastal regions of Los Angeles, Orange County, San Diego County, the San Francisco Bay Area and Greater Seattle.
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