Kilroy Realty (KRC) Downgraded by Zacks Investment Research
Kilroy Realty (NYSE:KRC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
According to Zacks, “Kilroy Realty Corporation, 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 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. “
Several other research firms have also commented on KRC. JPMorgan Chase & Co. lowered Kilroy Realty from an “overweight” rating to a “neutral” rating and set a $79.00 target price on the stock. in a report on Friday, December 15th. Robert W. Baird lowered Kilroy Realty from an “outperform” rating to a “neutral” rating in a report on Monday, January 8th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $79.00 target price on shares of Kilroy Realty in a report on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $76.38.
Kilroy Realty (NYSE:KRC) last posted its earnings results on Wednesday, January 31st. The real estate investment trust reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. The firm had revenue of $177.56 million for the quarter, compared to analyst estimates of $176.64 million. Kilroy Realty had a return on equity of 4.22% and a net margin of 22.90%. Kilroy Realty’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.87 earnings per share. research analysts forecast that Kilroy Realty will post 3.56 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KRC. Bank of New York Mellon Corp boosted its stake in Kilroy Realty by 148.1% in the third quarter. Bank of New York Mellon Corp now owns 3,745,076 shares of the real estate investment trust’s stock valued at $266,350,000 after acquiring an additional 2,235,377 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Kilroy Realty by 84.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,788,594 shares of the real estate investment trust’s stock valued at $357,469,000 after acquiring an additional 2,190,960 shares in the last quarter. Long Pond Capital LP acquired a new position in Kilroy Realty in the third quarter valued at $58,103,000. Principal Financial Group Inc. boosted its stake in Kilroy Realty by 17.8% in the third quarter. Principal Financial Group Inc. now owns 3,996,409 shares of the real estate investment trust’s stock valued at $284,224,000 after acquiring an additional 602,993 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in Kilroy Realty by 835.8% in the third quarter. Prudential Financial Inc. now owns 580,802 shares of the real estate investment trust’s stock valued at $41,307,000 after acquiring an additional 518,739 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.
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Kilroy Realty Company Profile
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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