BlackRock Inc. Cuts Stock Position in Kilroy Realty Corp (NYSE:KRC)
BlackRock Inc. lessened its holdings in Kilroy Realty Corp (NYSE:KRC) by 2.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 11,917,969 shares of the real estate investment trust’s stock after selling 289,667 shares during the quarter. BlackRock Inc. owned approximately 0.12% of Kilroy Realty worth $879,665,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of KRC. CAPROCK Group Inc. purchased a new stake in Kilroy Realty in the 2nd quarter worth $205,000. Bailard Inc. purchased a new stake in Kilroy Realty in the 2nd quarter worth $214,000. BB&T Securities LLC increased its stake in Kilroy Realty by 11.8% in the 2nd quarter. BB&T Securities LLC now owns 2,987 shares of the real estate investment trust’s stock worth $220,000 after buying an additional 316 shares in the last quarter. Natixis increased its stake in Kilroy Realty by 16.2% in the 2nd quarter. Natixis now owns 3,346 shares of the real estate investment trust’s stock worth $247,000 after buying an additional 466 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its position in shares of Kilroy Realty by 172.5% during the second quarter. Panagora Asset Management Inc. now owns 3,523 shares of the real estate investment trust’s stock valued at $260,000 after purchasing an additional 2,230 shares in the last quarter. Institutional investors and hedge funds own 96.31% of the company’s stock.
Shares of NYSE:KRC opened at $82.70 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.73. Kilroy Realty Corp has a 12 month low of $59.05 and a 12 month high of $84.77. The company has a 50-day moving average price of $79.58 and a 200 day moving average price of $77.47. The company has a market cap of $8.81 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 2.90 and a beta of 0.75.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Monday, September 30th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date was Friday, September 27th. Kilroy Realty’s payout ratio is 55.75%.
In related news, CEO John B. Kilroy, Jr. sold 14,780 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $84.32, for a total value of $1,246,249.60. Following the completion of the transaction, the chief executive officer now owns 1,071,143 shares of the company’s stock, valued at approximately $90,318,777.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Tyler H. Rose sold 5,000 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $84.41, for a total transaction of $422,050.00. Following the completion of the transaction, the chief financial officer now directly owns 121,508 shares of the company’s stock, valued at approximately $10,256,490.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,905 shares of company stock valued at $1,678,018. 2.26% of the stock is owned by insiders.
KRC has been the subject of a number of research analyst reports. Deutsche Bank cut their price objective on Kilroy Realty from $89.00 to $86.00 and set a “hold” rating for the company in a research report on Thursday, October 10th. ValuEngine lowered Kilroy Realty from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. BTIG Research set a $89.00 price objective on Kilroy Realty and gave the company a “buy” rating in a research report on Friday, October 18th. BMO Capital Markets restated a “buy” rating and set a $84.00 price objective on shares of Kilroy Realty in a research report on Thursday, October 24th. Finally, Zacks Investment Research upgraded Kilroy Realty from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research report on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $86.00.
About Kilroy Realty
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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