Kilroy Realty Corp (NYSE:KRC) Raises Dividend to $0.49 Per Share
Kilroy Realty Corp (NYSE:KRC) declared a quarterly dividend on Friday, May 17th, Wall Street Journal reports. Stockholders of record on Friday, June 28th will be paid a dividend of 0.485 per share by the real estate investment trust on Wednesday, July 17th. This represents a $1.94 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Thursday, June 27th. This is a positive change from Kilroy Realty’s previous quarterly dividend of $0.46.
Kilroy Realty has increased its dividend payment by an average of 18.8% annually over the last three years and has increased its dividend every year for the last 3 years. Kilroy Realty has a payout ratio of 54.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Kilroy Realty to earn $4.05 per share next year, which means the company should continue to be able to cover its $1.94 annual dividend with an expected future payout ratio of 47.9%.
Shares of Kilroy Realty stock opened at $74.77 on Wednesday. Kilroy Realty has a 52 week low of $59.05 and a 52 week high of $78.98. The company has a fifty day simple moving average of $75.97. The firm has a market cap of $7.60 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 2.79 and a beta of 0.81. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.72.
In related news, Director Jolie A. Hunt sold 4,434 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $75.02, for a total transaction of $332,638.68. Following the transaction, the director now owns 4,099 shares of the company’s stock, valued at approximately $307,506.98. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Merryl Elizabeth Werber sold 1,500 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. 2.26% of the stock is currently owned by corporate insiders.
Several equities analysts have recently commented on the company. Deutsche Bank upped their price target on Kilroy Realty from $80.00 to $82.00 and gave the company a “hold” rating in a research note on Wednesday, April 10th. ValuEngine lowered Kilroy Realty from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. Goldman Sachs Group raised Kilroy Realty from a “neutral” rating to a “buy” rating and increased their target price for the stock from $80.00 to $81.00 in a research note on Monday, March 11th. Finally, Robert W. Baird raised Kilroy Realty from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $82.00 to $86.00 in a research note on Friday, March 1st. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $80.60.
Kilroy Realty Company Profile
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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