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Kilroy Realty (NYSE:KRC) Stock, Chaîne d'Options

Kilroy Realty

Kilroy Realty is a premier owner and landlord of approximately 17 million square feet of office space across Los Angeles, San Diego, the San Francisco Bay Area, Austin, Texas, and greater Seattle. The company operates as a real estate investment trust.

Kilroy Realty Corp

King River Resources Ltd

Scotiabank analyst Nicholas Yulico downgrades Kilroy Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRC#NYSE">KRC</a>) from Sector Perform to Sector Underperform and maintains the price target from $38 to $38.

News

Downgrades

Price Target

Analyst Ratings

Scotiabank Downgrades Kilroy Realty to Sector Underperform, Maintains Price Target to $38

Evercore ISI Group analyst Steve Sakwa maintains Kilroy Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRC#NYSE">KRC</a>) with a In-Line and raises the price target from $40 to $41.

Evercore ISI Group Maintains In-Line on Kilroy Realty, Raises Price Target to $41

Kilroy Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRC#NYSE">KRC</a>) reported quarterly earnings of $1.17 per share which beat the analyst consensus estimate of $1.05 by 11.43 percent. The company reported quarterly sales of $289.90 million which beat the analyst consensus estimate of $275.58 million by 5.20 percent. This is a 3.28 percent increase over sales of $280.68 million the same period last year.

Earnings

Earnings Beats

Kilroy Realty Q3 2024 FFO $1.17 Beats $1.05 Estimate, Sales $289.90M Beat $275.58M Estimate

Providing a diverse range of perspectives from bullish to bearish, 4 analysts have published ratings on Kilroy Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRC#NYSE">KRC</a>) in the last three months.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $40.0, a high estimate of $44.00, and a low estimate of $38.00. Surpassing the previous average price target of $39.00, the current average has increased by 2.56%.
<img src="https://www.benzinga.com/files/images/story/2024/1730124066_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive Kilroy Realty. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Brendan Lynch</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$44.00</td>
<td>$38.00</td>
</tr>
<tr>
<td>Steve Sakwa</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$40.00</td>
<td>$38.00</td>
</tr>
<tr>
<td>Blaine Heck</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$38.00</td>
<td>$39.00</td>
</tr>
<tr>
<td>Nicholas Yulico</td>
<td>Scotiabank</td>
<td>Lowers</td>
<td>Sector Perform</td>
<td>$38.00</td>
<td>$41.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Kilroy Realty. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Kilroy Realty compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Kilroy Realty's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Kilroy Realty's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/KRC/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Kilroy Realty analyst ratings.</a>
<h2>Delving into Kilroy Realty's Background</h2>
Kilroy Realty is a premier owner and landlord of approximately 17 million square feet of office space across Los Angeles, San Diego, the San Francisco Bay Area, Austin, Texas, and greater Seattle. The company operates as a real estate investment trust.
<h3>Financial Insights: Kilroy Realty</h3>
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Negative Revenue Trend: Examining Kilroy Realty's financials over 3 months reveals challenges. As of 30 June, 2024, the company experienced a decline of approximately -1.25% in revenue growth, reflecting a decrease in top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Real Estate sector.
Net Margin: Kilroy Realty's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 17.24%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Kilroy Realty's ROE stands out, surpassing industry averages. With an impressive ROE of 0.89%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Kilroy Realty's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 0.42%, the company showcases efficient use of assets and strong financial health.
Debt Management: Kilroy Realty's debt-to-equity ratio is below the industry average. With a ratio of 0.97, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Expert Outlook: Kilroy Realty Through The Eyes Of 4 Analysts

Barclays analyst Brendan Lynch maintains Kilroy Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRC#NYSE">KRC</a>) with a Equal-Weight and raises the price target from $38 to $44.

Barclays Maintains Equal-Weight on Kilroy Realty, Raises Price Target to $44

Kilroy Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRC#NYSE">KRC</a>) is preparing to release its quarterly earnings on Monday, 2024-10-28. Here's a brief overview of what investors should keep in mind before the announcement.
Analysts expect Kilroy Realty to report an earnings per share (EPS) of $1.04.
The market awaits Kilroy Realty's announcement, with hopes high for news of surpassing estimates and providing upbeat guidance for the next quarter.
It's important for new investors to understand that guidance can be a significant driver of stock prices.
<h3>Overview of Past Earnings</h3>
In the previous earnings release, the company beat EPS by $0.02, leading to a 4.65% drop in the share price the following trading session.
Here's a look at Kilroy Realty's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.08</td>
<td>1.08</td>
<td></td>
<td></td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.10</td>
<td>1.11</td>
<td>1.08</td>
<td>1.12</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-5.0%</td>
<td>-1.0%</td>
<td>-1.0%</td>
<td>2.0%</td>
</tr>
</tbody>
</table>

<h3>Tracking Kilroy Realty's Stock Performance</h3>
Shares of Kilroy Realty were trading at $41.68 as of October 24. Over the last 52-week period, shares are up 46.54%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<h3>Analyst Insights on Kilroy Realty</h3>
Understanding market sentiments and expectations within the industry is crucial for investors. This analysis delves into the latest insights on Kilroy Realty.
The consensus rating for Kilroy Realty is Neutral, derived from 3 analyst ratings. An average one-year price target of $38.67 implies a potential 7.22% downside.
<h3>Analyzing Ratings Among Peers</h3>
In this comparison, we explore the analyst ratings and average 1-year price targets of SL Green Realty, Cousins Props and Highwoods Props, three prominent industry players, offering insights into their relative performance expectations and market positioning.
<ul>
<li>SL Green Realty received a Neutral consensus from analysts, with an average 1-year price target of $66.28, implying a potential 59.02% upside.</li>
<li>Analysts currently favor an Outperform trajectory for Cousins Props, with an average 1-year price target of $30.86, suggesting a potential 25.96% downside.</li>
<li>As per analysts' assessments, Highwoods Props is favoring an Neutral trajectory, with an average 1-year price target of $32.5, suggesting a potential 22.02% downside.</li>
</ul>
<h3>Summary of Peers Analysis</h3>
In the peer analysis summary, key metrics for SL Green Realty, Cousins Props and Highwoods Props are highlighted, providing an understanding of their respective standings within the industry and offering insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Kilroy Realty</td>
<td>Neutral</td>
<td>-1.25%</td>
<td>$187.33M</td>
<td>0.89%</td>
</tr>
<tr>
<td>SL Green Realty</td>
<td>Neutral</td>
<td>3.08%</td>
<td>$113.02M</td>
<td>-0.39%</td>
</tr>
<tr>
<td>Cousins Props</td>
<td>Outperform</td>
<td>4.24%</td>
<td>$142.34M</td>
<td>0.18%</td>
</tr>
<tr>
<td>Highwoods Props</td>
<td>Neutral</td>
<td>-1.34%</td>
<td>$138.62M</td>
<td>0.62%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Kilroy Realty ranks in the middle for revenue growth among its peers. It has the highest gross profit margin. The company's return on equity is also higher than the average of its peers. Overall, Kilroy Realty is positioned well compared to its peers in terms of financial performance.
<h3>Discovering Kilroy Realty: A Closer Look</h3>
Kilroy Realty is a premier owner and landlord of approximately 17 million square feet of office space across Los Angeles, San Diego, the San Francisco Bay Area, Austin, Texas, and greater Seattle. The company operates as a real estate investment trust.
<h3>Financial Milestones: Kilroy Realty's Journey</h3>
Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.
Negative Revenue Trend: Examining Kilroy Realty's financials over 3 months reveals challenges. As of 30 June, 2024, the company experienced a decline of approximately -1.25% in revenue growth, reflecting a decrease in top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Real Estate sector.
Net Margin: Kilroy Realty's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 17.24% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 0.89%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Kilroy Realty's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 0.42% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.97.
<a href="https://www.benzinga.com/quote/KRC/earnings">To track all earnings releases for Kilroy Realty visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Examining the Future: Kilroy Realty's Earnings Outlook

As of Oct. 16, 2024, two stocks in the real estate sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to Benzinga Pro. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Kilroy Realty Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRC#NYSE">KRC</a>)</h3>
<ul>
<li>Kilroy Realty will release third quarter 2024 financial results after the closing bell on Monday, Oct. 28. The company's stock gained around 11% over the past five days and has a <a href="https://www.benzinga.com/quote/KRC">52-week high of $43.37</a>.</li>
<li>RSI Value: 72.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>KRC Price Action: Shares of Kilroy Realty gained 3.2% to trade at $41.40 on Wednesday.</li>
</ul>
<h3 class="wp-block-heading">Douglas Emmett Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEI#NYSE">DEI</a>)</h3>
<ul>
<li>Douglas Emmett said it will release its 2024 third quarter earnings results after the closing bell on Monday, Nov. 4. The company's stock gained around 11% over the past month and <a href="https://www.benzinga.com/quote/DEI">has a 52-week high</a> of $18.78.</li>
<li>RSI Value: 73.78</li>
<li>DEI Price Action: Shares of Douglas Emmett rose 2.3% to trade at $18.78 on Wednesday.</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41358280/united-airlines-posts-upbeat-earnings-joins-morgan-stanley-u-s-bancorp-and-other-big-stocks-moving-h">United Airlines Posts Upbeat Earnings, Joins Morgan Stanley, U.S. Bancorp And Other Big Stocks Moving Higher On Wednesday</a></li>
</ul>

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Top 2 Real Estate Stocks That May Fall Off A Cliff In Q4

In the preceding three months, 4 analysts have released ratings for Kilroy Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRC#NYSE">KRC</a>), presenting a wide array of perspectives from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated Kilroy Realty and provided 12-month price targets. The average target is $39.5, accompanied by a high estimate of $42.00 and a low estimate of $38.00. A negative shift in sentiment is evident as analysts have decreased the average price target by 3.07%. 
<img src="https://www.benzinga.com/files/images/story/2024/1726502442_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
The analysis of recent analyst actions sheds light on the perception of Kilroy Realty by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Steve Sakwa</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$40.00</td>
<td>$38.00</td>
</tr>
<tr>
<td>Blaine Heck</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$38.00</td>
<td>$39.00</td>
</tr>
<tr>
<td>Nicholas Yulico</td>
<td>Scotiabank</td>
<td>Lowers</td>
<td>Sector Perform</td>
<td>$38.00</td>
<td>$41.00</td>
</tr>
<tr>
<td>Upal Rana</td>
<td>Keybanc</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$42.00</td>
<td>$45.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Kilroy Realty. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Kilroy Realty compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Kilroy Realty's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
For valuable insights into Kilroy Realty's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/KRC/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Kilroy Realty analyst ratings.</a>
<h2>Discovering Kilroy Realty: A Closer Look</h2>
Kilroy Realty is a premier owner and landlord of approximately 17 million square feet of office space across Los Angeles, San Diego, the San Francisco Bay Area, Austin, Texas, and greater Seattle. The company operates as a real estate investment trust.
<h3>Financial Milestones: Kilroy Realty's Journey</h3>
Market Capitalization: Surpassing industry standards, the company's market capitalization asserts its dominance in terms of size, suggesting a robust market position.
Revenue Growth: Kilroy Realty's revenue growth over a period of 3 months has faced challenges. As of 30 June, 2024, the company experienced a revenue decline of approximately -1.25%. This indicates a decrease in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Real Estate sector.
Net Margin: Kilroy Realty's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 17.24% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Kilroy Realty's ROE excels beyond industry benchmarks, reaching 0.89%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Kilroy Realty's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 0.42% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: With a below-average debt-to-equity ratio of 0.97, Kilroy Realty adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>The Basics of Analyst Ratings</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Analyst Landscape: 4 Takes On Kilroy Realty

Evercore ISI Group analyst Steve Sakwa maintains Kilroy Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRC#NYSE">KRC</a>) with a In-Line and raises the price target from $38 to $40.

Evercore ISI Group Maintains In-Line on Kilroy Realty, Raises Price Target to $40

Wells Fargo analyst Blaine Heck maintains Kilroy Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRC#NYSE">KRC</a>) with a Overweight and lowers the price target from $39 to $38.

Wells Fargo Maintains Overweight on Kilroy Realty, Lowers Price Target to $38

Scotiabank analyst Nicholas Yulico maintains Kilroy Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRC#NYSE">KRC</a>) with a Sector Perform and lowers the price target from $41 to $38.

Scotiabank Maintains Sector Perform on Kilroy Realty, Lowers Price Target to $38

Guidance

Kilroy Realty Corporation Updates 2024 Nareit-Defined FFO Guidance to $4.21-$4.31 Per Share; Midpoint Now $4.26; Raises Net Income Guidance to $1.50-$1.59 Per Share; Adjusts Key Assumptions for NOI, Occupancy, and Development Spending

Kilroy Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRC#NYSE">KRC</a>) reported quarterly earnings of $1.10 per share which beat the analyst consensus estimate of $1.08 by 1.85 percent. The company reported quarterly sales of $275.92 million which missed the analyst consensus estimate of $277.28 million by 0.49 percent. This is a 1.92 percent decrease over sales of $281.31 million the same period last year.

Earnings Misses

Kilroy Realty Q2 2024 FFO $1.10 Beats $1.08 Estimate, Sales $275.92M Miss $277.28M Estimate

The <a href="https://www.benzinga.com/topic/covid-19">COVID-19 pandemic</a> accelerated a trend of workers preferring remote work to in-person office attendance. 
Meanwhile, <a href="https://www.benzinga.com/topic/commercial-real-estate">commercial real estate</a> across the U.S. has suffered as companies do not value expansive office spaces as they did before.
The Data: A <a href="https://x.com/KobeissiLetter/status/1817971321277763942">post</a> on X relayed data from Arbor Data Science.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The commercial real estate crisis is spreading: US office vacancy rates in San Francisco reached 25.4% in June, the most among major American metros. This is followed by Houston and Seattle where office vacancy rates are 23.8% and 23.2%. The lowest vacancy rates are still a… <a href="https://t.co/TzeveqJV0N">pic.twitter.com/TzeveqJV0N</a>
&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1817971321277763942?ref_src=twsrc%5Etfw">July 29, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">The following U.S. metropolitan areas have the highest office vacancy rates.</figcaption></figure>
<ul>
<li>San Francisco, California — 25.4% </li>
<li>Houston, Texas — 23.8% </li>
<li>Seattle, Washington — 23.2% </li>
<li>Austin, Texas — 22.9% </li>
<li>Denver, Colorado — 22.1% </li>
</ul>
San Francisco&#8217;s Bay Area, which includes Silicon Valley, is the heart of technology companies in the U.S. A 25.4% vacancy rate is much higher than its 9.3% median vacancy <a href="https://www.normmiller.net/wp-content/uploads/2015/04/Revisiting-the-Derivation-of-an-Equilibrium-Vacancy-Rate1.pdf">rate</a> from 1997 to 2013 (as found in a 2014 Journal of Real Estate Portfolio Management article).
Meanwhile, the bottom five cities have weathered the storm comparatively well.
<ul>
<li>Miami, Florida — 12% </li>
<li>Boston, Massachusetts — 12.8% </li>
<li>Tampa, Florida — 13.3% </li>
<li>Charlotte, North Carolina — 14.9%</li>
<li>Philadelphia, Pennsylvania — 15.3% </li>
</ul>
The U.S. overall office space vacancy rate crossed 20% for the first time in 2024&#8217;s second quarter, <a href="https://cre.moodysanalytics.com/insights/cre-trends/q2-2024-preliminary-trend-announcement/">according</a> to Moody&#8217;s.
Market Implications: REITs with commercial real estate holdings have by and large struggled since the onset of the pandemic:
<ul>
<li>Alexandria Real Estate Equities Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARE#NYSE">ARE</a>) is the largest office REIT by market cap. It owns properties in San Francisco and Boston, among other locations. Its share price is down over 18% in the past five years.</li>
<li>BXP Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BXP#NYSE">BXP</a>), formerly Boston Properties, owns buildings in Boston, San Francisco and Seattle. Its share price is down 45% in the past five years.</li>
<li>Hudson Pacific Properties, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPP#NYSE">HPP</a>) owns properties on the West Coast with exposure to San Francisco and Seattle. Its market capitalization is 83% less than it was five years ago.</li>
<li>Cousins Properties Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CUZ#NYSE">CUZ</a>) owns properties in Austin, Charlotte and Tampa, among other locations. Cousins shares are trading nearly 20% lower now than five years ago.</li>
<li>Kilroy Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRC#NYSE">KRC</a>) owns office buildings in San Francisco and Austin. Its share are trading over 50% lower than five years ago.</li>
</ul>
Several exchange-traded funds (ETFs) track the real estate industry with some exposure to office REITs, including:
<ul>
<li>The Vanguard Real Estate Index Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>)</li>
<li>The Schwab US REIT ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHH#NYSE">SCHH</a>)</li>
<li>The Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>)</li>
</ul>
These funds have fared better than the individual office REITs due to their diversification.
Now Read:
<ul>
<li><a href="https://www.benzinga.com/real-estate/24/04/38111796/why-fitch-thinks-the-coming-commercial-real-estate-crash-could-be-worse-than-2008">Why Fitch Thinks The Coming Commercial Real Estate Crash Could Be Worse Than 2008</a></li>
</ul>

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Work From Home Has Hit Office Real Estate The Hardest In These 5 US Cities

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Shares of REITs are trading higher following softer-than-expected June CPI data, which could raise expectations of rate cuts.

Distressed investors are viewing the U.S. <a href="https://www.benzinga.com/m-a/24/07/39718690/apocalyptic-manhattan-real-estate-deals-keep-coming-sector-mayhem-or-investment-opportunity">commercial real estate industry</a> as a utopia of great deals after the COVID-19 pandemic work-from-home shift caused office values to plummet last year.
Private equity firms are putting this sector in their crosshairs as they set aside 64% of dry powder earmarked for commercial property investment toward office buildings in North America, according to data compiled by Preqin, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-07-10/us-commercial-property-crash-is-set-to-deepen-the-pain-elsewhere?srnd=homepage-americas&amp;sref=TBDibEcD">reported</a>.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39556989/goldman-sachs-the-worst-for-commercial-real-estate-market-may-be-over-but-it-is-lik">Goldman Sachs: The Worst For Commercial Real Estate Market May Be Over, But &#8216;It Is Likely To Take Longer To Inflect Positive&#8217;</a>
Almost $1 trillion of commercial real-estate debt will mature this year in the U.S., according to the Mortgage Bankers Association, and buyers of distressed assets are ready to buy office space at great discounts from borrowers facing rising defaults due to an unprecedented downturn in occupancy.
The opportunity in the U.S. for commercial real estate bargains is driven by lenders pulling away from commercial real estate after borrowing costs rose and values plunged. Asset manager PGIM estimates a gap of almost $150 billion between the volume of loans coming due and new credit availability this year, Bloomberg reported.
"We could be on the precipice of one of the most significant real estate distressed investment cycles of the last 40 years," John Brady, global head of real estate at Oaktree, said in a recent note. "Few asset classes are as unloved as commercial real estate and thus we believe there are few better places to find exceptional bargains."
Price Action: Commercial real-estate companies and exchange-traded funds trended upward on Wednesday.
Kilroy Realty Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRC#NYSE">KRC</a>) gained 0.72% to close at $32.30 on Wednesday, while American Tower Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMT#NYSE">AMT</a>) picked up 0.41% to come in at $196.77 and Prologis Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLD#NYSE">PLD</a>) jumped 1.83% to $116.54.
Invesco S&amp;P 500 Equal Weight Real Estate ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWRE#NYSE">EWRE</a>) picked up 0.78% to $116.54, while iShares Cohen &amp; Steers REIT ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ICF#BATS">ICF</a>) edged 0.72% to $57.68 and iShares Core U.S. REIT ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USRT#NYSE">USRT</a>) gained 0.82% to $54.02.
Read Now: 
<ul>
<li><a href="https://www.benzinga.com/news/financing/24/07/39622458/first-foundation-stock-plunges-after-228m-fundraise-regional-bank-has-heavy-commercial-real-estate">First Foundation Stock Plunges After $228M Fundraise: Regional Bank Has Heavy Commercial Real Estate Exposure</a></li>
</ul>
Photo: Unsplash

EWRE

iShares Trusthen & Steers Realty Majors Index Fund

USRT

Distressed Investors See 'Exceptional Bargains' In Troubled US Commercial Real Estate Sector

Keybanc analyst Upal Rana maintains Kilroy Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRC#NYSE">KRC</a>) with a Overweight and lowers the price target from $45 to $42.

Keybanc Maintains Overweight on Kilroy Realty, Lowers Price Target to $42

LAMR

Shares of REIT stocks are trading higher amid a drop in Treasury yields following soft May CPI figures.

Deutsche Bank analyst Omotayo Okusanya maintains Kilroy Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRC#NYSE">KRC</a>) with a Hold and lowers the price target from $40 to $34.

Deutsche Bank Maintains Hold on Kilroy Realty, Lowers Price Target to $34

Kilroy Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRC#NYSE">KRC</a>) reported quarterly earnings of $1.11 per share which beat the analyst consensus estimate of $1.07 by 3.74 percent. The company reported quarterly sales of $274.890 million which missed the analyst consensus estimate of $275.064 million by 0.06 percent. This is a 5.24 percent decrease over sales of $290.104 million the same period last year.

Kilroy Realty Q1 2024 FFO $1.11 Beats $1.07 Estimate, Sales $274.890M Miss $275.064M Estimate

Kilroy Realty ( ($KRC) ) has issued an announcement. Kilroy Realty Corporation reported a robust Q3 2024, with a revenue increase of 2.2% to $289.9...

Kilroy Realty Reports Strong Q3 2024 Performance

BMO Capital analyst John Kim has maintained their neutral stance on KRC stock, giving a Hold rating today. John Kim has given his Hold rating due t...

Kilroy Realty: Hold Rating Amid Short-Term Gains and Long-Term Leasing Concerns

Analysts have been eager to weigh in on the Real Estate sector with new ratings on COPT Defense Properties (CDP – Research Report), Brixmor Propert...

Analysts Conflicted on These Real Estate Names: COPT Defense Properties (CDP), Brixmor Property (BRX) and Kilroy Realty (KRC)

Kilroy Realty Corporation (KRC) Q3 2024 Earnings Call Transcript

Kilroy Realty ( ($KRC) ) has realeased its Q3 earnings. Here is a breakdown of the information Kilroy Realty presented to its investors. Kilroy Rea...

Kilroy Realty Reports Steady Q3 2024 Growth

Pivotal Decisions

Scotiabank analyst Nicholas Yulico downgraded Kilroy Realty (KRC) to Underperform from Sector Perform with a $38 price target Published first on Th...

Kilroy Realty downgraded to Underperform from Sector Perform at Scotiabank

In a report released today, Blaine Heck from Wells Fargo maintained a Buy rating on Kilroy Realty (KRC – Research Report). The company's shares clo...

Kilroy Realty (KRC) Receives a Buy from Wells Fargo

In a report released today, Brendan Lynch from Barclays maintained a Hold rating on Kilroy Realty (KRC – Research Report), with a price target of $...

Barclays Remains a Hold on Kilroy Realty (KRC)

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Press Releases

Kilroy Realty Publishes Thirteenth Annual Sustainability Report, Achieves Fourth Year of Carbon Neutral Operations

Kilroy Realty Corporation Reports First Quarter Financial Results

Kilroy Realty Declares Quarterly Dividend

Archer Announces Planned San Francisco Air Mobility Network Connecting Five Locations Across the Bay Area

Kilroy Realty Announces Dates for Second Quarter 2024 Earnings Release and Conference Call

Kilroy Realty Corporation Reports Second Quarter Financial Results

Kilroy Realty to Participate in the Bank of America 2024 Global Real Estate Conference

Kilroy Realty Announces Dates for Third Quarter 2024 Earnings Release and Conference Call

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