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

Kilroy Realty Co. (NYSE:KRC) declared a quarterly dividend on Tuesday, February 25th, RTT News reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.54 per share by the real estate investment trust on Wednesday, April 9th. This represents a $2.16 annualized dividend and a yield of 6.34%.

Kilroy Realty has increased its dividend payment by an average of 1.9% annually over the last three years. Kilroy Realty has a payout ratio of 187.8% 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 $4.15 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 52.0%.

Kilroy Realty Price Performance

Shares of KRC traded up $0.78 during trading hours on Tuesday, hitting $34.05. 1,505,192 shares of the company were exchanged, compared to its average volume of 1,444,300. Kilroy Realty has a one year low of $30.71 and a one year high of $43.78. The company has a market capitalization of $4.02 billion, a PE ratio of 19.23 and a beta of 1.02. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.21 and a quick ratio of 2.21. The firm has a fifty day simple moving average of $37.99 and a 200-day simple moving average of $38.44.

Kilroy Realty (NYSE:KRC) last posted its quarterly earnings data on Monday, February 10th. The real estate investment trust reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.17. Kilroy Realty had a net margin of 18.58% and a return on equity of 3.75%. As a group, sell-side analysts predict that Kilroy Realty will post 4 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on KRC shares. JPMorgan Chase & Co. raised Kilroy Realty from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $45.00 to $49.00 in a research note on Friday, December 20th. Jefferies Financial Group downgraded shares of Kilroy Realty from a “buy” rating to a “hold” rating and decreased their target price for the stock from $45.00 to $41.00 in a research report on Thursday, January 2nd. Mizuho restated a “neutral” rating and set a $43.00 target price (down from $45.00) on shares of Kilroy Realty in a report on Tuesday, January 7th. Barclays reduced their target price on Kilroy Realty from $43.00 to $42.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $44.00 price target on shares of Kilroy Realty in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $41.27.

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.