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

Kilroy Realty Co. (NYSE:KRC) announced a quarterly dividend on Thursday, December 5th,RTT News reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.54 per share by the real estate investment trust on Wednesday, January 8th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 5.26%. The ex-dividend date of this dividend is Tuesday, December 31st.

Kilroy Realty has raised its dividend by an average of 3.1% annually over the last three years. Kilroy Realty has a dividend payout ratio of 161.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Price Performance

Kilroy Realty stock opened at $41.08 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.08 and a current ratio of 3.08. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of 24.60 and a beta of 1.03. The stock’s 50 day moving average price is $40.75 and its two-hundred day moving average price is $37.26. Kilroy Realty has a 52-week low of $30.71 and a 52-week high of $43.78.

Kilroy Realty (NYSE:KRC) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.60). The firm had revenue of $289.94 million during the quarter, compared to the consensus estimate of $275.77 million. Kilroy Realty had a net margin of 17.78% and a return on equity of 3.53%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 earnings per share. On average, equities analysts predict that Kilroy Realty will post 4.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KRC. JPMorgan Chase & Co. upgraded Kilroy Realty from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $45.00 to $49.00 in a report on Friday, December 20th. Evercore ISI raised their price objective on shares of Kilroy Realty from $40.00 to $41.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Wells Fargo & Company decreased their target price on shares of Kilroy Realty from $39.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday, September 11th. Barclays raised their price target on shares of Kilroy Realty from $38.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Finally, Scotiabank lowered Kilroy Realty from a “sector perform” rating to a “sector underperform” rating and set a $38.00 price objective for the company. in a report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $40.63.

Insiders Place Their Bets

In other news, insider Heidi Rena Roth sold 12,000 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.28, for a total transaction of $507,360.00. Following the completion of the sale, the insider now directly owns 50,211 shares of the company’s stock, valued at $2,122,921.08. This trade represents a 19.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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.