Ontario Teachers Pension Plan Board acquired a new position in Kilroy Realty Corp (NYSE:KRC) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 20,640 shares of the real estate investment trust’s stock, valued at approximately $1,568,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of KRC. Laurel Wealth Advisors LLC bought a new stake in Kilroy Realty during the 4th quarter valued at approximately $25,000. Parallel Advisors LLC grew its holdings in Kilroy Realty by 471.7% during the 4th quarter. Parallel Advisors LLC now owns 526 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 434 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Kilroy Realty by 6,188.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,451,188 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 2,412,206 shares in the last quarter. Hanson & Doremus Investment Management purchased a new position in Kilroy Realty during the 1st quarter valued at approximately $52,000. Finally, Piedmont Investment Advisors Inc. purchased a new position in Kilroy Realty during the 1st quarter valued at approximately $207,000. Institutional investors and hedge funds own 96.67% of the company’s stock.
In related news, CAO Merryl Elizabeth Werber sold 1,500 shares of the business’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $78.00, for a total transaction of $117,000.00. Following the transaction, the chief accounting officer now directly owns 8,120 shares in the company, valued at approximately $633,360. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jolie A. Hunt sold 4,434 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $75.02, for a total value of $332,638.68. Following the transaction, the director now owns 4,099 shares in the company, valued at $307,506.98. The disclosure for this sale can be found here. Insiders own 2.26% of the company’s stock.
Kilroy Realty (NYSE:KRC) last issued its earnings results on Monday, May 6th. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.56). The firm had revenue of $201.20 million for the quarter, compared to the consensus estimate of $190.73 million. Kilroy Realty had a net margin of 33.84% and a return on equity of 6.27%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period last year, the firm earned $0.94 earnings per share. Sell-side analysts forecast that Kilroy Realty Corp will post 3.72 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 17th. Stockholders of record on Friday, June 28th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.61%. This is a positive change from Kilroy Realty’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Thursday, June 27th. Kilroy Realty’s payout ratio is presently 55.75%.
Several research firms have weighed in on KRC. Deutsche Bank raised their price target on Kilroy Realty from $80.00 to $82.00 and gave the company a “hold” rating in a report on Wednesday, April 10th. ValuEngine cut Kilroy Realty from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. Finally, Goldman Sachs Group upgraded Kilroy Realty from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $80.00 to $81.00 in a report on Monday, March 11th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $80.60.
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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