Securian Asset Management Inc Cuts Position in Kilroy Realty Corp (KRC)

Securian Asset Management Inc trimmed its position in Kilroy Realty Corp (NYSE:KRC) by 5.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 178,116 shares of the real estate investment trust’s stock after selling 9,671 shares during the period. Securian Asset Management Inc’s holdings in Kilroy Realty were worth $13,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc increased its position in shares of Kilroy Realty by 3.7% in the 3rd quarter. Vanguard Group Inc now owns 14,721,499 shares of the real estate investment trust’s stock valued at $1,055,385,000 after acquiring an additional 522,383 shares during the period. BlackRock Inc. increased its position in shares of Kilroy Realty by 1.4% in the 4th quarter. BlackRock Inc. now owns 12,203,745 shares of the real estate investment trust’s stock valued at $767,371,000 after acquiring an additional 162,599 shares during the period. Cohen & Steers Inc. increased its position in shares of Kilroy Realty by 2.8% in the 4th quarter. Cohen & Steers Inc. now owns 10,927,244 shares of the real estate investment trust’s stock valued at $687,105,000 after acquiring an additional 293,246 shares during the period. Norges Bank acquired a new position in shares of Kilroy Realty in the 4th quarter valued at $377,416,000. Finally, PGGM Investments increased its position in shares of Kilroy Realty by 29.6% in the 1st quarter. PGGM Investments now owns 5,290,738 shares of the real estate investment trust’s stock valued at $401,884,000 after acquiring an additional 1,208,738 shares during the period. 96.67% of the stock is currently owned by hedge funds and other institutional investors.

Shares of KRC opened at $77.70 on Monday. The stock has a market cap of $7.84 billion, a price-to-earnings ratio of 22.33, a P/E/G ratio of 2.86 and a beta of 0.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.22 and a current ratio of 1.22. Kilroy Realty Corp has a fifty-two week low of $59.05 and a fifty-two week high of $77.84.

Kilroy Realty (NYSE:KRC) last announced its quarterly earnings results on Monday, February 4th. The real estate investment trust reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.11). The company had revenue of $190.80 million for the quarter, compared to analyst estimates of $185.19 million. Kilroy Realty had a return on equity of 6.35% and a net margin of 34.58%. Kilroy Realty’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 earnings per share. On average, analysts expect that Kilroy Realty Corp will post 3.69 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Friday, March 29th were given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 2.34%. The ex-dividend date was Thursday, March 28th. Kilroy Realty’s dividend payout ratio is currently 52.30%.

In other Kilroy Realty news, CFO Tyler H. Rose sold 20,000 shares of the stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $72.57, for a total transaction of $1,451,400.00. Following the sale, the chief financial officer now directly owns 125,132 shares of the company’s stock, valued at approximately $9,080,829.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward F. Brennan sold 3,843 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $74.73, for a total transaction of $287,187.39. Following the sale, the director now directly owns 18,513 shares in the company, valued at $1,383,476.49. The disclosure for this sale can be found here. Insiders have sold a total of 64,799 shares of company stock worth $4,766,078 over the last ninety days. 2.26% of the stock is owned by insiders.

KRC has been the topic of several research reports. ValuEngine raised Kilroy Realty from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. Zacks Investment Research downgraded Kilroy Realty from a “hold” rating to a “sell” rating in a research report on Thursday, January 24th. Deutsche Bank upped their target price on Kilroy Realty from $80.00 to $82.00 and gave the company a “hold” rating in a research report on Wednesday, April 10th. Robert W. Baird raised Kilroy Realty from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $82.00 to $86.00 in a research report on Friday, March 1st. Finally, Goldman Sachs Group raised Kilroy Realty from a “neutral” rating to a “buy” rating and increased their price target for the stock from $80.00 to $81.00 in a research report on Monday, March 11th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $80.17.

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Kilroy Realty Company Profile

Kilroy Realty Corporation (KRC), a publicly traded real estate investment trust and member of the S&P MidCap 400 Index, is one of the West Coast's premier landlords. The company has over 70 years of experience developing, acquiring and managing office and mixed-use real estate assets. The company provides physical work environments that foster creativity and productivity and serves a broad roster of dynamic, innovation-driven tenants, including technology, entertainment, digital media and health care companies.

Further Reading: Strike Price

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Institutional Ownership by Quarter for Kilroy Realty (NYSE:KRC)

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