Kilroy Realty Co. (KRC) To Go Ex-Dividend on June 28th

Kilroy Realty Co. (NYSE:KRC) announced a quarterly dividend on Wednesday, May 22nd, Wall Street Journal reports. Shareholders of record on Friday, June 28th will be given a dividend of 0.54 per share by the real estate investment trust on Wednesday, July 10th. This represents a $2.16 annualized dividend and a yield of 6.65%. The ex-dividend date is Friday, June 28th.

Kilroy Realty has a payout ratio of 125.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Kilroy Realty to earn $4.41 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 49.0%.

Kilroy Realty Trading Down 3.6 %

NYSE:KRC opened at $32.47 on Friday. Kilroy Realty has a one year low of $26.12 and a one year high of $43.37. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.30 and a current ratio of 3.30. The firm has a market cap of $3.81 billion, a P/E ratio of 18.66, a P/E/G ratio of 2.49 and a beta of 1.02. The firm has a 50-day simple moving average of $34.36 and a 200-day simple moving average of $35.68.

Analysts Set New Price Targets

Several research firms recently commented on KRC. Deutsche Bank Aktiengesellschaft began coverage on shares of Kilroy Realty in a research note on Tuesday, January 30th. They set a “hold” rating and a $40.00 price objective for the company. Royal Bank of Canada lowered shares of Kilroy Realty from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $44.00 to $39.00 in a research note on Friday, March 8th. KeyCorp reduced their price objective on shares of Kilroy Realty from $47.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Finally, Barclays started coverage on shares of Kilroy Realty in a research note on Wednesday, March 27th. They set an “equal weight” rating and a $38.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $39.00.

Insider Activity

In other news, insider A. Robert Paratte sold 12,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $33.35, for a total value of $400,200.00. Following the sale, the insider now directly owns 68,139 shares of the company’s stock, valued at approximately $2,272,435.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Merryl Elizabeth Werber sold 3,329 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $33.66, for a total transaction of $112,054.14. Following the sale, the chief accounting officer now directly owns 29,081 shares of the company’s stock, valued at $978,866.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider A. Robert Paratte sold 12,000 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $33.35, for a total transaction of $400,200.00. Following the sale, the insider now directly owns 68,139 shares in the company, valued at $2,272,435.65. The disclosure for this sale can be found here. 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.