Trade Report: The Kilroy Realty Corp. (KRC) Rating Increased to Buy at Bank of America Corp.

The Kilroy Realty Corp. (KRC) Rating Increased to Buy at Bank of America Corp.

Kilroy Realty Corp. (NYSE:KRC) was upgraded by investment analysts at Bank of America Corp. from a “neutral” rating to a “buy” rating in a report released on Friday. The firm presently has a $81.00 price objective on the real estate investment trust’s stock. Bank of America Corp.’s target price would indicate a potential upside of 14.60% from the stock’s current price.

A number of other equities analysts also recently issued reports on KRC. BMO Capital Markets reiterated a “buy” rating on shares of Kilroy Realty Corp. in a research report on Sunday, June 26th. Zacks Investment Research upgraded Kilroy Realty Corp. from a “sell” rating to a “hold” rating in a research report on Friday, July 29th. DA Davidson increased their price target on Kilroy Realty Corp. from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 27th. Citigroup Inc. increased their price target on Kilroy Realty Corp. from $71.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, July 29th. Finally, Stifel Nicolaus increased their price target on Kilroy Realty Corp. from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 1st. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Kilroy Realty Corp. presently has an average rating of “Buy” and an average target price of $76.18.

Kilroy Realty Corp. (NYSE:KRC) opened at 70.68 on Friday. Kilroy Realty Corp. has a 12-month low of $46.76 and a 12-month high of $74.17. The stock has a market cap of $6.52 billion, a PE ratio of 20.18 and a beta of 0.97. The company’s 50-day moving average price is $69.56 and its 200-day moving average price is $66.94.

Kilroy Realty Corp. (NYSE:KRC) last issued its quarterly earnings results on Monday, July 25th. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.01. The company had revenue of $160.10 million for the quarter, compared to the consensus estimate of $140.64 million. Kilroy Realty Corp. had a return on equity of 10.85% and a net margin of 57.28%. Kilroy Realty Corp.’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.82 earnings per share. On average, equities analysts expect that Kilroy Realty Corp. will post $3.40 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 12th. Shareholders of record on Friday, September 30th were paid a dividend of $0.375 per share. The ex-dividend date was Wednesday, September 28th. This represents a $1.50 annualized dividend and a yield of 2.12%. Kilroy Realty Corp.’s dividend payout ratio (DPR) is 42.74%.

A number of large investors have recently bought and sold shares of KRC. Cohen & Steers Inc. boosted its stake in Kilroy Realty Corp. by 23.2% in the second quarter. Cohen & Steers Inc. now owns 18,674,882 shares of the real estate investment trust’s stock valued at $603,946,000 after buying an additional 3,510,750 shares during the period. Lasalle Investment Management Securities LLC boosted its stake in Kilroy Realty Corp. by 4,974.5% in the second quarter. Lasalle Investment Management Securities LLC now owns 1,791,304 shares of the real estate investment trust’s stock valued at $118,746,000 after buying an additional 1,756,004 shares during the period. Emerald Acquisition Ltd. acquired a new stake in Kilroy Realty Corp. during the second quarter valued at about $30,425,000. Vanguard Group Inc. boosted its stake in Kilroy Realty Corp. by 2.8% in the second quarter. Vanguard Group Inc. now owns 13,929,788 shares of the real estate investment trust’s stock valued at $923,405,000 after buying an additional 380,082 shares during the period. Finally, Prudential Financial Inc. boosted its stake in Kilroy Realty Corp. by 665.4% in the second quarter. Prudential Financial Inc. now owns 424,927 shares of the real estate investment trust’s stock valued at $28,169,000 after buying an additional 369,409 shares during the period.

About Kilroy Realty Corp.

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