Kilroy Realty Co. Plans Quarterly Dividend of $0.54 (NYSE:KRC)

Kilroy Realty Co. (NYSE:KRC) announced a quarterly dividend on Monday, September 16th, Zacks reports. Shareholders of record on Monday, September 30th will be given a dividend of 0.54 per share by the real estate investment trust on Wednesday, October 9th. This represents a $2.16 dividend on an annualized basis and a yield of 5.53%. The ex-dividend date of this dividend is Monday, September 30th.

Kilroy Realty has increased its dividend payment by an average of 3.1% annually over the last three years. Kilroy Realty has a dividend payout ratio of 153.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Kilroy Realty to earn $4.19 per share next year, which means the company should continue to be able to cover its $2.16 annual dividend with an expected future payout ratio of 51.6%.

Kilroy Realty Stock Performance

Kilroy Realty stock opened at $39.08 on Friday. Kilroy Realty has a fifty-two week low of $26.78 and a fifty-two week high of $43.37. The firm’s 50 day simple moving average is $35.71 and its 200-day simple moving average is $34.34. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.61 and a quick ratio of 3.61. The company has a market cap of $4.59 billion, a P/E ratio of 22.46 and a beta of 1.04.

Kilroy Realty (NYSE:KRC) last announced its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.67). The firm had revenue of $280.73 million for the quarter, compared to analyst estimates of $276.81 million. Kilroy Realty had a net margin of 17.91% and a return on equity of 3.52%. Kilroy Realty’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the firm earned $1.19 earnings per share. As a group, equities research analysts predict that Kilroy Realty will post 4.25 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wells Fargo & Company decreased their price objective on Kilroy Realty from $39.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday, September 11th. Scotiabank decreased their price target on shares of Kilroy Realty from $41.00 to $38.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Evercore ISI upped their price objective on shares of Kilroy Realty from $38.00 to $40.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, KeyCorp cut their target price on shares of Kilroy Realty from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $38.40.

Insider Activity

In other Kilroy Realty news, EVP John Osmond sold 2,628 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $40.00, for a total value of $105,120.00. Following the completion of the sale, the executive vice president now owns 8,818 shares of the company’s stock, valued at $352,720. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Kilroy Realty news, EVP John Osmond sold 2,628 shares of the stock in a transaction that occurred 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 in the company, valued at $352,720. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Merryl Elizabeth Werber sold 3,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $39.14, for a total transaction of $117,420.00. Following the completion of the sale, the chief accounting officer now owns 26,401 shares of the company’s stock, valued at $1,033,335.14. The disclosure for this sale can be found here. 2.49% of the stock is owned by insiders.

Kilroy Realty Company Profile

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.