Comerica Bank Reduces Stake in Kilroy Realty Corp (KRC)
Comerica Bank lessened its position in Kilroy Realty Corp (NYSE:KRC) by 13.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 68,797 shares of the real estate investment trust’s stock after selling 11,125 shares during the quarter. Comerica Bank’s holdings in Kilroy Realty were worth $4,838,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of KRC. Qube Research & Technologies Ltd bought a new stake in shares of Kilroy Realty in the 2nd quarter worth $280,000. NN Investment Partners Holdings N.V. acquired a new position in shares of Kilroy Realty in the 3rd quarter worth $281,000. First Hawaiian Bank acquired a new position in shares of Kilroy Realty in the 3rd quarter worth $307,000. Point72 Hong Kong Ltd acquired a new position in shares of Kilroy Realty in the 2nd quarter worth $348,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Kilroy Realty in the 2nd quarter worth $352,000. 96.40% of the stock is currently owned by institutional investors.
Shares of NYSE KRC opened at $69.90 on Thursday. Kilroy Realty Corp has a 52-week low of $62.91 and a 52-week high of $77.73. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $7.10 billion, a P/E ratio of 20.56, a P/E/G ratio of 2.68 and a beta of 0.63.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 17th. Stockholders of record on Friday, September 28th were issued a dividend of $0.455 per share. The ex-dividend date was Thursday, September 27th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.60%. Kilroy Realty’s dividend payout ratio is 53.53%.
A number of brokerages recently issued reports on KRC. JPMorgan Chase & Co. upgraded Kilroy Realty from a “neutral” rating to an “overweight” rating in a report on Friday, October 5th. Zacks Investment Research upgraded Kilroy Realty from a “sell” rating to a “hold” rating in a report on Saturday, October 27th. Robert W. Baird restated a “hold” rating and issued a $78.00 target price on shares of Kilroy Realty in a report on Wednesday, August 1st. Bank of America upgraded Kilroy Realty from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $80.00 to $82.00 in a report on Tuesday. Finally, Deutsche Bank lifted their target price on Kilroy Realty from $81.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, August 29th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Kilroy Realty presently has an average rating of “Buy” and a consensus price target of $78.63.
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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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