Kilroy Realty (NYSE:KRC) Cut to “Sell” at Zacks Investment Research


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Kilroy Realty (NYSE:KRC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, 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 a number of other reports. Robert W. Baird raised shares of Kilroy Realty from a “neutral” rating to an “outperform” rating and set a $65.00 price target for the company in a report on Thursday, January 7th. Jefferies Financial Group raised shares of Kilroy Realty from a “hold” rating to a “buy” rating and increased their price target for the company from $58.00 to $66.00 in a report on Wednesday, January 13th. JPMorgan Chase & Co. downgraded shares of Kilroy Realty from an “overweight” rating to a “neutral” rating and set a $65.00 price target for the company. in a report on Monday, December 21st. Mizuho downgraded shares of Kilroy Realty from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $62.00 to $58.00 in a report on Monday, January 11th. Finally, BMO Capital Markets raised their price objective on shares of Kilroy Realty from $75.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $61.25.

Shares of NYSE KRC traded up $0.17 during trading hours on Wednesday, hitting $67.17. 650,282 shares of the stock were exchanged, compared to its average volume of 1,255,437. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.74 and a quick ratio of 2.74. The company’s 50 day moving average is $65.40 and its 200 day moving average is $58.79. The firm has a market capitalization of $7.82 billion, a P/E ratio of 41.21, a P/E/G ratio of 2.86 and a beta of 0.91. Kilroy Realty has a one year low of $45.28 and a one year high of $70.54.

Kilroy Realty (NYSE:KRC) last posted its quarterly earnings data on Sunday, January 31st. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by ($0.30). Kilroy Realty had a return on equity of 3.56% and a net margin of 20.35%. Research analysts anticipate that Kilroy Realty will post 3.74 earnings per share for the current fiscal year.

In other Kilroy Realty news, insider A. Robert Paratte sold 23,595 shares of the firm’s stock in a transaction dated Wednesday, March 10th. The shares were sold at an average price of $68.14, for a total value of $1,607,763.30. Following the completion of the sale, the insider now owns 21,187 shares in the company, valued at approximately $1,443,682.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Tyler H. Rose sold 10,000 shares of the firm’s stock in a transaction dated Thursday, March 11th. The shares were sold at an average price of $68.31, for a total transaction of $683,100.00. Following the completion of the sale, the president now owns 153,455 shares of the company’s stock, valued at approximately $10,482,511.05. The disclosure for this sale can be found here. Company insiders own 2.22% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of KRC. Lazard Asset Management LLC acquired a new stake in shares of Kilroy Realty during the 4th quarter worth approximately $29,000. Van ECK Associates Corp grew its position in shares of Kilroy Realty by 23.5% during the 3rd quarter. Van ECK Associates Corp now owns 3,485 shares of the real estate investment trust’s stock worth $181,000 after buying an additional 662 shares during the period. Fort Point Capital Partners LLC acquired a new stake in shares of Kilroy Realty during the 4th quarter worth approximately $217,000. Ontario Teachers Pension Plan Board acquired a new stake in shares of Kilroy Realty during the 4th quarter worth approximately $233,000. Finally, IBM Retirement Fund acquired a new stake in shares of Kilroy Realty during the 4th quarter worth approximately $242,000. Hedge funds and other institutional investors own 94.74% of the company’s stock.

About Kilroy Realty

Kilroy Realty Corporation (NYSE: KRC, the ÂcompanyÂ, ÂKRCÂ) is a leading West Coast landlord and developer, with a major presence in San Diego, Greater Los Angeles, the San Francisco Bay Area, and the Pacific Northwest. The company has earned global recognition for sustainability, building operations, innovation and design.

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