Zacks Investment Research lowered shares of Kilroy Realty (NYSE:KRC) from a buy rating to a hold rating in a research report sent to investors on Thursday morning, Zacks.com reports.

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. “

KRC has been the subject of several other research reports. Goldman Sachs Group began coverage on shares of Kilroy Realty in a research report on Friday, November 8th. They set a buy rating and a $94.00 price target for the company. Wells Fargo & Co raised shares of Kilroy Realty from a market perform rating to an outperform rating and set a $95.00 price target for the company in a research report on Tuesday, December 10th. Deutsche Bank reduced their price target on shares of Kilroy Realty from $89.00 to $86.00 and set a hold rating for the company in a research report on Thursday, October 10th. Stifel Nicolaus set a $89.00 price target on shares of Kilroy Realty and gave the company a buy rating in a research report on Friday, October 25th. Finally, Argus reaffirmed a buy rating and set a $32.00 price target (up previously from $30.00) on shares of Kilroy Realty in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $83.00.

KRC traded down $0.10 during midday trading on Thursday, hitting $81.55. 616,833 shares of the company traded hands, compared to its average volume of 508,097. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $8.66 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 3.10 and a beta of 0.74. The company’s 50-day moving average is $82.98 and its 200 day moving average is $78.52. Kilroy Realty has a 52 week low of $59.05 and a 52 week high of $85.29.

Kilroy Realty (NYSE:KRC) last released its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.52). Kilroy Realty had a net margin of 35.04% and a return on equity of 6.62%. The business had revenue of $215.53 million for the quarter, compared to analysts’ expectations of $205.99 million. During the same period in the previous year, the company earned $0.90 EPS. Kilroy Realty’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, sell-side analysts predict that Kilroy Realty will post 3.86 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Monday, December 30th. Kilroy Realty’s payout ratio is currently 55.75%.

In related news, CEO John B. Kilroy, Jr. sold 14,780 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $84.32, for a total value of $1,246,249.60. Following the completion of the sale, the chief executive officer now directly owns 1,071,143 shares of the company’s stock, valued at approximately $90,318,777.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Tyler H. Rose sold 5,000 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $84.41, for a total transaction of $422,050.00. Following the completion of the sale, the chief financial officer now directly owns 121,508 shares of the company’s stock, valued at $10,256,490.28. The disclosure for this sale can be found here. Insiders sold a total of 19,905 shares of company stock valued at $1,678,018 over the last three months. 2.26% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. BB&T Securities LLC increased its holdings in Kilroy Realty by 7.4% in the 3rd quarter. BB&T Securities LLC now owns 3,207 shares of the real estate investment trust’s stock worth $243,000 after acquiring an additional 220 shares in the last quarter. California State Teachers Retirement System boosted its stake in Kilroy Realty by 0.3% in the 3rd quarter. California State Teachers Retirement System now owns 157,769 shares of the real estate investment trust’s stock worth $12,289,000 after purchasing an additional 427 shares during the period. Wetherby Asset Management Inc. boosted its stake in Kilroy Realty by 9.3% in the 3rd quarter. Wetherby Asset Management Inc. now owns 5,396 shares of the real estate investment trust’s stock worth $420,000 after purchasing an additional 457 shares during the period. Natixis boosted its stake in Kilroy Realty by 16.2% in the 2nd quarter. Natixis now owns 3,346 shares of the real estate investment trust’s stock worth $247,000 after purchasing an additional 466 shares during the period. Finally, Voya Investment Management LLC boosted its stake in Kilroy Realty by 3.3% in the 3rd quarter. Voya Investment Management LLC now owns 18,130 shares of the real estate investment trust’s stock worth $1,412,000 after purchasing an additional 573 shares during the period. 96.71% of the stock is owned by institutional investors.

Kilroy Realty Company Profile

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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