Kilroy Realty (NYSE:KRC) Upgraded to Buy at Zacks Investment Research

Kilroy Realty (NYSE:KRC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, Zacks.com reports. The brokerage presently has a $86.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 7.88% from the stock’s current price.

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. “

Other equities analysts have also recently issued research reports about the company. ValuEngine upgraded Worldline from a “hold” rating to a “buy” rating in a report on Tuesday. Deutsche Bank dropped their price objective on Vornado Realty Trust from $80.00 to $73.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $81.50.

KRC traded up $1.02 during trading hours on Wednesday, reaching $79.72. 8,554 shares of the company’s stock traded hands, compared to its average volume of 530,230. The company’s 50-day moving average price is $76.19. Kilroy Realty has a 52-week low of $59.05 and a 52-week high of $78.99. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $7.83 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 2.87 and a beta of 0.77.

Kilroy Realty (NYSE:KRC) last posted its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.56). Kilroy Realty had a net margin of 35.13% and a return on equity of 6.59%. The business had revenue of $201.20 million for the quarter, compared to analysts’ expectations of $190.73 million. During the same quarter in the previous year, the firm earned $0.94 EPS. Kilroy Realty’s revenue was up 10.1% compared to the same quarter last year. Sell-side analysts forecast that Kilroy Realty will post 3.73 EPS for the current fiscal year.

In other Kilroy Realty news, CAO Merryl Elizabeth Werber sold 1,500 shares of Kilroy Realty stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $78.00, for a total transaction of $117,000.00. Following the completion of the sale, the chief accounting officer now directly owns 8,120 shares of the company’s stock, valued at approximately $633,360. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jolie A. Hunt sold 4,434 shares of Kilroy Realty stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $75.02, for a total value of $332,638.68. Following the sale, the director now directly owns 4,099 shares of the company’s stock, valued at $307,506.98. The disclosure for this sale can be found here. Insiders own 2.26% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank bought a new stake in Kilroy Realty during the 4th quarter valued at $377,416,000. PGGM Investments grew its stake in Kilroy Realty by 29.6% during the 1st quarter. PGGM Investments now owns 5,290,738 shares of the real estate investment trust’s stock worth $401,884,000 after buying an additional 1,208,738 shares during the last quarter. Principal Financial Group Inc. grew its stake in Kilroy Realty by 8.9% during the 1st quarter. Principal Financial Group Inc. now owns 4,216,163 shares of the real estate investment trust’s stock worth $320,260,000 after buying an additional 345,462 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in Kilroy Realty by 6.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,521,492 shares of the real estate investment trust’s stock worth $267,492,000 after buying an additional 214,078 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in Kilroy Realty by 765.3% during the 4th quarter. Deutsche Bank AG now owns 2,466,077 shares of the real estate investment trust’s stock worth $155,064,000 after buying an additional 2,181,073 shares during the last quarter. 96.67% of the stock is owned by institutional investors and hedge funds.

About Kilroy Realty

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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