State of Wisconsin Investment Board reduced its stake in shares of Kilroy Realty Corp (NYSE:KRC) by 61.2% during the first quarter, Holdings Channel reports. The institutional investor owned 19,193 shares of the real estate investment trust’s stock after selling 30,264 shares during the period. State of Wisconsin Investment Board’s holdings in Kilroy Realty Corp were worth $1,383,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Flinton Capital Management LLC bought a new position in Kilroy Realty Corp during the fourth quarter valued at about $177,000. Harvest Fund Management Co. Ltd bought a new position in Kilroy Realty Corp during the fourth quarter valued at about $185,000. Cigna Investments Inc. New bought a new position in Kilroy Realty Corp during the fourth quarter valued at about $243,000. Meadow Creek Investment Management LLC boosted its position in Kilroy Realty Corp by 20.5% in the first quarter. Meadow Creek Investment Management LLC now owns 4,004 shares of the real estate investment trust’s stock valued at $289,000 after buying an additional 682 shares in the last quarter. Finally, Glen Harbor Capital Management LLC boosted its position in Kilroy Realty Corp by 20.5% in the first quarter. Glen Harbor Capital Management LLC now owns 5,096 shares of the real estate investment trust’s stock valued at $367,000 after buying an additional 868 shares in the last quarter. 99.92% of the stock is currently owned by institutional investors.
Shares of Kilroy Realty Corp (NYSE:KRC) opened at 74.70 on Friday. The firm has a market capitalization of $7.27 billion, a P/E ratio of 53.74 and a beta of 0.77. Kilroy Realty Corp has a 52 week low of $61.49 and a 52 week high of $78.33. The firm’s 50-day moving average is $72.42 and its 200 day moving average is $73.54.
Kilroy Realty Corp (NYSE:KRC) last announced its quarterly earnings results on Wednesday, April 26th. The real estate investment trust reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by $0.59. The firm had revenue of $179.30 million for the quarter, compared to the consensus estimate of $172.26 million. Kilroy Realty Corp had a return on equity of 8.72% and a net margin of 45.72%. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.82 earnings per share. Equities research analysts forecast that Kilroy Realty Corp will post $1.39 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 12th. Stockholders of record on Friday, June 30th will be given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.28%. This is a boost from Kilroy Realty Corp’s previous quarterly dividend of $0.38. The ex-dividend date is Wednesday, June 28th. Kilroy Realty Corp’s dividend payout ratio (DPR) is currently 50.34%.
KRC has been the topic of several research reports. BMO Capital Markets reaffirmed a “buy” rating and issued a $82.00 price target on shares of Kilroy Realty Corp in a report on Wednesday, April 5th. Deutsche Bank AG upped their price target on Kilroy Realty Corp from $75.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, May 25th. Zacks Investment Research raised Kilroy Realty Corp from a “sell” rating to a “hold” rating in a report on Saturday, February 11th. Finally, Evercore ISI raised Kilroy Realty Corp from an “underperform” rating to an “in-line” rating and set a $76.00 price target on the stock in a report on Tuesday, March 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. Kilroy Realty Corp presently has an average rating of “Hold” and a consensus target price of $78.83.
About Kilroy Realty Corp
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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