Kilroy Realty (NYSE:KRC) Announces Quarterly Earnings Results, Misses Expectations By $0.60 EPS

Kilroy Realty (NYSE:KRC - Get Free Report) announced its quarterly earnings data on Monday. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.60), Zacks reports. Kilroy Realty had a net margin of 17.91% and a return on equity of 3.52%. The business had revenue of $289.94 million during the quarter, compared to analyst estimates of $275.77 million. During the same quarter in the prior year, the company earned $1.12 earnings per share. The company's quarterly revenue was up 2.2% on a year-over-year basis. Kilroy Realty updated its FY24 guidance to $4.38-4.44 EPS and its FY 2024 guidance to 4.380-4.440 EPS.

Kilroy Realty Stock Down 0.8 %

Shares of NYSE:KRC traded down $0.32 during midday trading on Tuesday, reaching $41.30. 1,891,140 shares of the company were exchanged, compared to its average volume of 1,056,693. The firm has a market cap of $4.85 billion, a PE ratio of 23.77 and a beta of 1.04. Kilroy Realty has a fifty-two week low of $27.39 and a fifty-two week high of $43.78. The stock has a fifty day simple moving average of $38.09 and a two-hundred day simple moving average of $35.04. The company has a quick ratio of 3.61, a current ratio of 3.61 and a debt-to-equity ratio of 0.91.

Kilroy Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Monday, September 30th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 5.23%. The ex-dividend date was Monday, September 30th. Kilroy Realty's dividend payout ratio (DPR) is presently 124.14%.

Wall Street Analysts Forecast Growth

KRC has been the topic of several recent research reports. Wells Fargo & Company reduced their price target on Kilroy Realty from $39.00 to $38.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 11th. Scotiabank lowered their price target on Kilroy Realty from $41.00 to $38.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 7th. KeyCorp reduced their price objective on shares of Kilroy Realty from $45.00 to $42.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 2nd. Barclays upped their target price on shares of Kilroy Realty from $38.00 to $44.00 and gave the company an "equal weight" rating in a research note on Monday. Finally, Evercore ISI lifted their price target on shares of Kilroy Realty from $38.00 to $40.00 and gave the stock an "in-line" rating in a research report on Monday, September 16th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Kilroy Realty has a consensus rating of "Hold" and a consensus price target of $39.29.

Insider Buying and Selling

In other Kilroy Realty news, CAO Merryl Elizabeth Werber sold 3,000 shares of Kilroy Realty stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $39.14, for a total value of $117,420.00. Following the sale, the chief accounting officer now owns 26,401 shares of the company's stock, valued at $1,033,335.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO Merryl Elizabeth Werber sold 3,000 shares of the business's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $39.14, for a total value of $117,420.00. Following the sale, the chief accounting officer now owns 26,401 shares of the company's stock, valued at $1,033,335.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP John Osmond sold 2,628 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $40.00, for a total transaction of $105,120.00. Following the transaction, the executive vice president now owns 8,818 shares of the company's stock, valued at $352,720. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.49% of the company's stock.

About Kilroy Realty

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.