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

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 annualized dividend and a yield of 5.58%. The ex-dividend date is Monday, September 30th.

Kilroy Realty has a dividend payout ratio of 152.1% meaning 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 $4.20 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 51.4%.

Kilroy Realty Stock Up 0.6 %

KRC stock traded up $0.24 during midday trading on Wednesday, hitting $38.70. 18,554 shares of the company’s stock were exchanged, compared to its average volume of 1,018,761. The company has a current ratio of 3.61, a quick ratio of 3.61 and a debt-to-equity ratio of 0.91. Kilroy Realty has a 12-month low of $26.78 and a 12-month high of $43.37. The firm has a 50 day moving average price of $35.04 and a 200-day moving average price of $34.16. The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of 22.11 and a beta of 1.04.

Kilroy Realty (NYSE:KRC) last posted its quarterly earnings data 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). Kilroy Realty had a return on equity of 3.52% and a net margin of 17.91%. The business had revenue of $280.73 million for the quarter, compared to analysts’ expectations of $276.81 million. During the same quarter in the prior year, the firm earned $1.19 earnings per share. Kilroy Realty’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, analysts anticipate that Kilroy Realty will post 4.25 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on KRC shares. Deutsche Bank Aktiengesellschaft dropped their price objective on Kilroy Realty from $40.00 to $34.00 and set a “hold” rating on the stock in a report on Thursday, May 30th. Scotiabank lowered their price target on Kilroy Realty from $41.00 to $38.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Wells Fargo & Company lowered their price target on Kilroy Realty from $39.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, September 11th. KeyCorp lowered their price target on Kilroy Realty from $45.00 to $42.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Finally, Evercore ISI boosted their price target on Kilroy Realty from $38.00 to $40.00 and gave the company an “in-line” rating in a report on Monday. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $38.40.

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.