Kilroy Realty Co. (NYSE:KRC) Declares $0.54 Quarterly Dividend

Kilroy Realty Co. (NYSE:KRC) declared a quarterly dividend on Thursday, December 5th,RTT News reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.54 per share by the real estate investment trust on Wednesday, January 8th. This represents a $2.16 annualized dividend and a dividend yield of 5.36%.

Kilroy Realty has raised its dividend payment by an average of 3.1% annually over the last three years. Kilroy Realty has a payout ratio of 161.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Kilroy Realty to earn $4.19 per share next year, which means the company should continue to be able to cover its $2.16 annual dividend with an expected future payout ratio of 51.6%.

Kilroy Realty Stock Down 0.7 %

Shares of NYSE KRC opened at $40.30 on Friday. The stock has a market cap of $4.76 billion, a P/E ratio of 24.13 and a beta of 1.03. The business’s fifty day simple moving average is $40.16 and its 200-day simple moving average is $36.31. Kilroy Realty has a 12-month low of $30.71 and a 12-month high of $43.78. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.89.

Kilroy Realty (NYSE:KRC) last posted its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.60). Kilroy Realty had a net margin of 17.78% and a return on equity of 3.53%. The company had revenue of $289.94 million during the quarter, compared to analyst estimates of $275.77 million. During the same period in the prior year, the business earned $1.12 EPS. Kilroy Realty’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities analysts predict that Kilroy Realty will post 4.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on KRC shares. Evercore ISI increased their price objective on shares of Kilroy Realty from $40.00 to $41.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Barclays increased their target price on Kilroy Realty from $38.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Scotiabank downgraded Kilroy Realty from a “sector perform” rating to a “sector underperform” rating and set a $38.00 price target for the company. in a report on Thursday, November 14th. Finally, Wells Fargo & Company dropped their price objective on Kilroy Realty from $39.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $39.43.

Insider Activity

In other news, EVP John Osmond sold 2,628 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $40.00, for a total transaction of $105,120.00. Following the completion of the sale, the executive vice president now owns 8,818 shares in the company, valued at approximately $352,720. This represents a 22.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Heidi Rena Roth sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $42.28, for a total value of $507,360.00. Following the sale, the insider now directly owns 50,211 shares of the company’s stock, valued at approximately $2,122,921.08. This represents a 19.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 17,628 shares of company stock valued at $729,900. Insiders own 2.49% of the company’s stock.

Kilroy Realty Company Profile

Kilroy Realty Corporation (NYSE: KRC, the company, Kilroy) is a leading U.S. landlord and developer, with operations in San Diego, Greater Los Angeles, the San Francisco Bay Area, Greater Seattle and Austin. The company has earned global recognition for sustainability, building operations, innovation and design.