The Vanguard Group, Inc. recently announced the acquisition of new stake in Kilroy Realty Corporation (NYSE:KRC). The institutional investor has increased its shareholding in the Real Estate company by 1.66% to 16.18 million shares with purchase of 0.26 million shares. This fresh investment now brings its stake to 13.82% valued currently at $582.63 million. In addition, BlackRock Fund Advisors raised its holdings by 0.5 million to 10.9 million shares. And SSgA Funds Management, Inc. has lifted its position by 2.35% or 0.14 million shares – to 6.23 million shares.
With over 2.94 million Kilroy Realty Corporation (KRC) shares trading Friday and a closing price of $31.31 on the day, the dollar volume was approximately $92.0 million. The shares have shown a negative half year performance of -37.79% and its price on 03/10/23 lost nearly -8.88%. Currently, there are 116.88M common shares owned by the public and among those 115.31M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 14 analysts who have offered their price forecasts for KRC have a consensus price objective of $44.08. The analysts have set the share’s price value over the next 12 months at a high of $52.00 and a low of $32.00. The average price target is 29.91% above its recent price level and an upside to the estimated low will see the stock gain 2.16% over that period. But an upside of 39.79% will see the stock hit the forecast high price target while median target price for the stock is $45.00.
Insiders at the company have transacted a total of 93 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 74 of these insider trades were purchases, accounting for 349,278 shares. Insider sales of the common stock occurred on 19 occasions, with total insider shares sold totaling 282,232 shares.
The top 3 mutual fund holders in Kilroy Realty Corporation are Government Pension Fund – Global, Stichting Pensioenfonds ABP, and Vanguard Real Estate Index Fund. Government Pension Fund – Global owns 9.06 million shares of the company’s stock, all valued at over $326.23 million. The company sold 1.0 shares recently to bring their total holdings to about 7.74% of the shares outstanding. Stichting Pensioenfonds ABP sold -0.51 million shares to see its total holdings shrink to 5.6 million shares valued at over $201.54 million and representing 4.78% of the shares outstanding. Vanguard Real Estate Index Fund sold 2367.0 shares to bring its total holdings to over 4.69 million shares at a value of $169.05 million. Vanguard Real Estate Index Fund now owns shares totaling to 4.01% of the shares outstanding.
Shares of Kilroy Realty Corporation (NYSE: KRC) opened at $34.29, down -$0.07 from a prior closing price of $34.36. However, the script later moved the day high at 34.37, down -8.88%. The company’s stock has a 5-day price change of -14.71% and -18.14% over the past three months. KRC shares are trading -19.03% year to date (YTD), with the 12-month market performance down to -57.12% lower. It has a 12-month low price of $34.29 and touched a high of $79.06 over the same period. KRC has an average intraday trading volume of 946.52K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -16.22%, -18.94%, and -31.20% respectively.
Institutional ownership of Kilroy Realty Corporation (NYSE: KRC) 116.88M shares outstanding. Mutual fund holders own 44.16%, while other institutional holders and individual stakeholders account for 60.56% and 2.17% respectively.
It has a market capitalization of $4.02B and a beta (3y monthly) value of 0.90. The stock’s trailing 12-month PE ratio is 15.86, while the earnings-per-share (ttm) stands at $1.97. The company has a debt-to-equity ratio at 0.78. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.57% over the week and 2.78% over the month.
Analysts forecast that Kilroy Realty Corporation (KRC) will achieve an EPS of $0.44 for the current quarter, $0.45 for the next quarter and $1.78 for 2024. The lowest estimate earnings-per-share for the quarter is $0.44 while analysts give the company a high EPS estimate of $0.44. Comparatively, EPS for the current quarter was $0.43 a year ago. Earnings per share for the fiscal year are expected to decrease by -63.20%, and 4.71% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 14 brokerage firm advisors rate Kilroy Realty Corporation (KRC) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 8 of the 14 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the KRC, a number of firms have released research notes about the stock. Scotiabank stated their Sector Perform rating for the stock in a research note on January 24, 2023, with the firm’s price target at $53-$43. Jefferies coverage for the Kilroy Realty Corporation (KRC) stock in a research note released on January 03, 2023 offered a Hold rating with a price target of $39. Robert W. Baird was of a view on October 10, 2022 that the stock is Neutral, while Citigroup gave the stock Neutral rating on September 19, 2022, issuing a price target of $60- $50. Credit Suisse on their part issued Underperform rating on June 23, 2022.
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