Green Street Investors LLC Decreases Holdings in Kilroy Realty Corp (NYSE:KRC)

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Green Street Investors LLC trimmed its position in Kilroy Realty Corp (NYSE:KRC) by 3.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,200 shares of the real estate investment trust’s stock after selling 2,500 shares during the quarter. Kilroy Realty accounts for 2.8% of Green Street Investors LLC’s portfolio, making the stock its 14th largest position. Green Street Investors LLC owned about 0.07% of Kilroy Realty worth $5,105,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of KRC. Vanguard Group Inc grew its holdings in shares of Kilroy Realty by 3.7% during the third quarter. Vanguard Group Inc now owns 14,721,499 shares of the real estate investment trust’s stock worth $1,055,385,000 after purchasing an additional 522,383 shares during the last quarter. BlackRock Inc. raised its position in shares of Kilroy Realty by 1.4% during the fourth quarter. BlackRock Inc. now owns 12,203,745 shares of the real estate investment trust’s stock worth $767,371,000 after purchasing an additional 162,599 shares during the period. Cohen & Steers Inc. raised its position in shares of Kilroy Realty by 2.8% during the fourth quarter. Cohen & Steers Inc. now owns 10,927,244 shares of the real estate investment trust’s stock worth $687,105,000 after purchasing an additional 293,246 shares during the period. Norges Bank acquired a new stake in shares of Kilroy Realty during the fourth quarter worth about $377,416,000. Finally, PGGM Investments grew its holdings in shares of Kilroy Realty by 29.6% during the first quarter. PGGM Investments now owns 5,290,738 shares of the real estate investment trust’s stock worth $401,884,000 after buying an additional 1,208,738 shares in the last quarter. Institutional investors and hedge funds own 96.67% of the company’s stock.

Shares of Kilroy Realty stock traded down $0.62 during trading on Tuesday, reaching $74.81. 441,106 shares of the company’s stock were exchanged, compared to its average volume of 525,401. Kilroy Realty Corp has a 1-year low of $59.05 and a 1-year high of $78.21. The stock has a market capitalization of $7.64 billion, a P/E ratio of 21.50, a price-to-earnings-growth ratio of 2.81 and a beta of 0.81. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.98 and a current ratio of 0.98.

Kilroy Realty (NYSE:KRC) last posted its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.56). The firm had revenue of $201.20 million for the quarter, compared to analyst estimates of $190.73 million. Kilroy Realty had a return on equity of 6.27% and a net margin of 33.84%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the company posted $0.94 earnings per share. On average, research analysts forecast that Kilroy Realty Corp will post 3.71 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 17th. Stockholders of record on Friday, June 28th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This is a positive change from Kilroy Realty’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a dividend yield of 2.59%. Kilroy Realty’s dividend payout ratio is currently 52.30%.

In other Kilroy Realty news, insider Justin William Smart sold 5,000 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $76.71, for a total transaction of $383,550.00. Following the completion of the transaction, the insider now directly owns 119,507 shares of the company’s stock, valued at $9,167,381.97. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Edward F. Brennan sold 3,843 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $74.73, for a total value of $287,187.39. Following the completion of the transaction, the director now directly owns 18,513 shares of the company’s stock, valued at $1,383,476.49. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,277 shares of company stock valued at $1,003,376. 2.26% of the stock is currently owned by corporate insiders.

KRC has been the subject of a number of research reports. Zacks Investment Research upgraded Kilroy Realty from a “sell” rating to a “hold” rating in a report on Wednesday, February 13th. Robert W. Baird upgraded Kilroy Realty from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $82.00 to $86.00 in a report on Friday, March 1st. Goldman Sachs Group upgraded Kilroy Realty from a “neutral” rating to a “buy” rating and raised their price target for the company from $80.00 to $81.00 in a research note on Monday, March 11th. ValuEngine downgraded Kilroy Realty from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. Finally, Deutsche Bank raised their price target on Kilroy Realty from $80.00 to $82.00 and gave the company a “hold” rating in a research note on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $80.60.

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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.

Further Reading: What is a Leveraged Buyout (LBO)?

Institutional Ownership by Quarter for Kilroy Realty (NYSE:KRC)

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