Timbercreek Asset Management Ltd. Acquires 51,781 Shares of Kilroy Realty Corporation (KRC)
Timbercreek Asset Management Ltd. increased its holdings in shares of Kilroy Realty Corporation (NYSE:KRC) by 55.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 144,476 shares of the real estate investment trust’s stock after acquiring an additional 51,781 shares during the quarter. Kilroy Realty Corporation comprises 3.4% of Timbercreek Asset Management Ltd.’s investment portfolio, making the stock its 11th biggest position. Timbercreek Asset Management Ltd. owned about 0.15% of Kilroy Realty Corporation worth $10,857,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of KRC. BlackRock Inc. boosted its position in Kilroy Realty Corporation by 4,354.2% during the first quarter. BlackRock Inc. now owns 11,146,694 shares of the real estate investment trust’s stock worth $803,452,000 after acquiring an additional 10,896,443 shares during the last quarter. Morgan Stanley boosted its position in Kilroy Realty Corporation by 617.2% during the first quarter. Morgan Stanley now owns 1,070,178 shares of the real estate investment trust’s stock worth $77,138,000 after acquiring an additional 920,954 shares during the last quarter. Vanguard Group Inc. boosted its position in Kilroy Realty Corporation by 5.7% during the first quarter. Vanguard Group Inc. now owns 14,940,397 shares of the real estate investment trust’s stock worth $1,076,904,000 after acquiring an additional 799,701 shares during the last quarter. Standard Life Investments LTD acquired a new position in Kilroy Realty Corporation during the second quarter worth about $42,070,000. Finally, Brookfield Asset Management Inc. boosted its position in Kilroy Realty Corporation by 17.6% during the first quarter. Brookfield Asset Management Inc. now owns 2,410,474 shares of the real estate investment trust’s stock worth $173,747,000 after acquiring an additional 360,974 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.
Kilroy Realty Corporation (NYSE KRC) traded up 0.13% during trading on Thursday, reaching $69.99. 438,943 shares of the company’s stock traded hands. The firm has a market capitalization of $6.88 billion, a PE ratio of 50.86 and a beta of 0.75. Kilroy Realty Corporation has a 1-year low of $65.77 and a 1-year high of $78.33. The firm has a 50 day moving average of $68.96 and a 200 day moving average of $72.13.
Kilroy Realty Corporation (NYSE:KRC) last released its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.01. Kilroy Realty Corporation had a net margin of 21.75% and a return on equity of 4.11%. The company had revenue of $180.60 million for the quarter, compared to analysts’ expectations of $178.63 million. During the same period last year, the company earned $0.86 EPS. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. Equities analysts forecast that Kilroy Realty Corporation will post $1.26 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.425 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.70 annualized dividend and a dividend yield of 2.43%. Kilroy Realty Corporation’s dividend payout ratio is currently 122.30%.
A number of research firms recently weighed in on KRC. Stifel Nicolaus restated a “buy” rating and set a $77.00 price target on shares of Kilroy Realty Corporation in a research report on Thursday. Evercore ISI upgraded shares of Kilroy Realty Corporation from an “in-line” rating to an “outperform” rating and set a $78.00 price target on the stock in a research report on Monday, August 14th. Zacks Investment Research upgraded shares of Kilroy Realty Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, September 12th. Goldman Sachs Group, Inc. (The) began coverage on shares of Kilroy Realty Corporation in a research report on Tuesday. They set a “neutral” rating and a $70.00 price target on the stock. Finally, BidaskClub upgraded shares of Kilroy Realty Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $77.67.
Kilroy Realty Corporation 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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