Kilroy Realty Corporation (NYSE:KRC)

Kilroy Realty Corporation KRC

Real Estate - REIT - Office - NYSE - US

Watchlist

$ 38.8

-1.52 %

$ 4.58 B

Market Cap

23.23

P/E

1. INTRINSIC VALUE

Kilroy Realty Corporation (NYSE: KRC, the company, KRC) is a leading West Coast landlord and developer, with a major presence in San Diego, Greater Los Angeles, the San Francisco Bay Area, and the Pacific Northwest. The company has earned global recognition for sustainability, building operations, innovation and design. As pioneers and innovators in the creation of a more sustainable real estate industry, the company's approach to modern business environments helps drive creativity, productivity and employee retention for some of the world's leading technology, entertainment, life science and business services companies. KRC is a publicly traded real estate investment trust (REIT) and member of the S&P MidCap 400 Index with more than seven decades of experience developing, acquiring and managing office and mixed-use projects.[ Read More ]

The intrinsic value of one KRC stock under the base case scenario is HIDDEN Compared to the current market price of 38.8 USD, Kilroy Realty Corporation is HIDDEN

KRC Intrinsic Value
HIDDEN

SHOW

2. FUNDAMENTAL ANALYSIS

Price Chart KRC

FINANCIALS

Annual
Quarterly

1.13 B REVENUE

Growth Rates

1Year 2.98%

3Years 7.94%

5Years 8.62%

7Years 8.39%

10Years 9.28%

685 M OPERATING INCOME

Growth Rates

1Year 109.90%

3Years 41.37%

5Years 29.78%

7Years 19.60%

10Years 44.06%

238 M NET INCOME

Growth Rates

1Year -8.17%

3Years 4.75%

5Years -3.03%

7Years -3.41%

10Years 22.12%

603 M OPERATING CASH FLOW

Growth Rates

1Year 1.75%

3Years 9.77%

5Years 8.00%

7Years 8.29%

10Years 9.62%

-800 M INVESTING CASH FLOW

Growth Rates

1Year -44.69%

3Years -13.87%

5Years 0.21%

7Years -3.35%

10Years -4.68%

361 M FINANCING CASH FLOW

Growth Rates

1Year 403.67%

3Years -24.36%

5Years -6.44%

7Years -2.40%

10Years 2.39%

290 M REVENUE

Growth Rates

1Year 2.98%

3Years 7.94%

5Years 8.62%

7Years 8.39%

10Years 9.28%

0 OPERATING INCOME

Growth Rates

1Year 109.90%

3Years 41.37%

5Years 29.78%

7Years 19.60%

10Years 44.06%

57.7 M NET INCOME

Growth Rates

1Year -8.17%

3Years 4.75%

5Years -3.03%

7Years -3.41%

10Years 22.12%

176 M OPERATING CASH FLOW

Growth Rates

1Year 1.75%

3Years 9.77%

5Years 8.00%

7Years 8.29%

10Years 9.62%

-174 M INVESTING CASH FLOW

Growth Rates

1Year -44.69%

3Years -13.87%

5Years 0.21%

7Years -3.35%

10Years -4.68%

-212 M FINANCING CASH FLOW

Growth Rates

1Year 403.67%

3Years -24.36%

5Years -6.44%

7Years -2.40%

10Years 2.39%

Balance Sheet Decomposition Kilroy Realty Corporation

11.4 B ASSETS
5.74 B LIABILITIES

Current Assets	1.28 B
Cash & Short-Term Investments	795 M
Receivables	475 M
Other Current Assets	10.5 M
Non-Current Assets	10.1 B
Long-Term Investments	0
PP&E	163 M
Other Non-Current Assets	9.96 B

Current Liabilities	174 M
Accounts Payable	371 M
Short-Term Debt	6.74 M
Other Current Liabilities	-204 M
Non-Current Liabilities	5.57 B
Long-Term Debt	5.05 B
Other Non-Current Liabilities	522 M

EFFICIENCY

Earnings Waterfall Kilroy Realty Corporation

Revenue	1.13 B
Cost Of Revenue	351 M
Gross Profit	779 M
Operating Expenses	449 M
Operating Income	685 M
Other Expenses	447 M
Net Income	238 M

RATIOS

68.92% GROSS MARGIN

Averages

1Year 68.92%

3Years 70.48%

5Years 70.42%

7Years 70.81%

10Years 71.30%

60.65% OPERATING MARGIN

Averages

1Year 60.65%

3Years 40.14%

5Years 34.90%

7Years 32.59%

10Years 29.87%

18.79% NET MARGIN

Averages

1Year 18.79%

3Years 33.51%

5Years 26.20%

7Years 26.93%

10Years 30.90%

3.91% ROE

Averages

1Year 3.91%

3Years 6.23%

5Years 4.88%

7Years 5.06%

10Years 5.79%

1.86% ROA

Averages

1Year 1.86%

3Years 3.14%

5Years 2.45%

7Years 2.57%

10Years 2.95%

6.62% ROIC

Averages

1Year 6.62%

3Years 3.80%

5Years 3.22%

7Years 3.10%

10Years 3.14%

FREE CASH FLOW ANALYSIS

Free Cash Flow Analysis Kilroy Realty Corporation

Net Income	238 M
Depreciation & Amortization	356 M
Capital Expenditures	-544 M
Stock-Based Compensation	36.9 M
Change in Working Capital	-521 K
Others	-28.9 M
Free Cash Flow	58.8 M

3. WALL STREET ANALYSTS ESTIMATES

Wall Street Analysts Price Targets Kilroy Realty Corporation

Wall Street analysts predict an average 1-year price target for KRC of $38.2 , with forecasts ranging from a low of $34 to a high of $41 .

KRC Lowest Price Target Wall Street Target

34 USD -12.37%

KRC Average Price Target Wall Street Target

38.2 USD -1.42%

KRC Highest Price Target Wall Street Target

41 USD 5.67%

4. DIVIDEND ANALYSIS

1.40% DIVIDEND YIELD

0.54 USD DIVIDEND PER SHARE

5. COMPETITION

Hudson Pacific is a real estate investment trust with a portfolio of office and studio properties totaling nearly 19 million square feet, including land for development.

-0.0186 USD

HPP

Overvalued 100.51%

Highwoods Properties, Inc., headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (REIT) and a member of the S&P MidCap 400 Index.

56.9 USD

HIW

Undervalued 79.65%

Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office towers located in high-growth Sun Belt markets.

47 USD

CUZ

Undervalued 53.40%

Piedmont Office Realty Trust, Inc. (NYSE: PDM) is an owner, manager, developer, redeveloper, and operator of high-quality, Class A office properties located primarily in select sub-markets within seven major Eastern U.S. office markets, with the majority of its revenue being generated from the Sunbelt.

-1.19 USD

PDM

Overvalued 112.59%

Douglas Emmett, Inc. (DEI) is a fully integrated, self-administered and self-managed real estate investment trust (REIT), and one of the largest owners and operators of high-quality office and multifamily properties located in the premier coastal submarkets of Los Angeles and Honolulu.

47.1 USD

DEI

Undervalued 155.95%

Brandywine Realty Trust (NYSE: BDN) is one of the largest, publicly traded, full-service, integrated real estate companies in the United States with a core focus in the Philadelphia, Austin and Washington, D.C. markets.

6.61 USD

BDN

Undervalued 27.10%

City Office REIT, Inc. (NYSE: CIO) invests in high-quality office properties in 18-hour cities with strong economic fundamentals, primarily in the Southern and Western United States.

10.4 USD

CIO

Undervalued 111.92%

Equity Commonwealth (NYSE: EQC) is a Chicago based, internally managed and self-advised real estate investment trust (REIT) with commercial office properties in the United States.

26.4 USD

EQC

Undervalued 31.33%

6. Ownership

Insider Ownership Kilroy Realty Corporation

Summary
Transactions

Sold

0-3 MONTHS

0 USD 0

3-6 MONTHS

0 USD 0

6-9 MONTHS

0 USD 0

9-12 MONTHS

353 K USD 2

Bought

0 USD 0

0-3 MONTHS

0 USD 0

3-6 MONTHS

0 USD 0

6-9 MONTHS

0 USD 0

9-12 MONTHS

Date	Value	Insider	Amount	Avg Price
10 months ago Dec 21, 2023	Sell 206 K USD	Roth Heidi Rena See Remarks	- 5081	40.614 USD
11 months ago Dec 19, 2023	Sell 147 K USD	Osmond John EVP, Head of Asset Management	- 3594	40.8502 USD
1 year ago Nov 03, 2023	Sell 133 K USD	Roth Heidi Rena See Remarks	- 4200	31.7787 USD
1 year ago Sep 29, 2023	Sell 136 K USD	Roth Heidi Rena See Remarks	- 4300	31.6963 USD
2 years ago Feb 11, 2022	Sell 275 K USD	Paratte A. Robert See Remarks	- 4000	68.6606 USD
3 years ago Nov 05, 2021	Sell 900 K USD	Roth Heidi Rena See Remarks	- 12696	70.92 USD
3 years ago Nov 05, 2021	Sell 71 K USD	Werber Merryl Elizabeth SVP, CAO, Controller	- 1000	71 USD
3 years ago Mar 10, 2021	Sell 1.61 M USD	Paratte A. Robert See Remarks	- 23595	68.1414 USD
3 years ago Mar 11, 2021	Sell 683 K USD	ROSE TYLER H President	- 10000	68.3143 USD
4 years ago Dec 10, 2019	Sell 21.1 K USD	Werber Merryl Elizabeth SVP, CAO, Controller	- 250	84.2294 USD
5 years ago Nov 04, 2019	Sell 422 K USD	ROSE TYLER H EVP and CFO	- 5000	84.4125 USD
5 years ago Nov 04, 2019	Sell 1.25 M USD	KILROY JOHN B JR Chairman, President and CEO	- 14780	84.3151 USD
5 years ago Nov 05, 2019	Sell 2.93 M USD	KILROY JOHN B JR Chairman, President and CEO	- 35220	83.219 USD

7. News

Kilroy Realty Corporation (KRC) Q3 2024 Earnings Call Transcript Kilroy Realty Corporation (NYSE:KRC ) Q3 2024 Results Conference Call October 29, 2024 1:00 PM ET Company Participants Taylor Friend - Senior Vice President, Capital Markets & Treasurer Angela Aman - CEO Eliott Trencher - EVP, CIO Jeffrey Kuehling - EVP, CFO Rob Paratte - EVP, Chief Leasing Officer Justin Smart - President Conference Call Participants Nick Yulico - Scotiabank Upal Rana - KeyCorp Blaine Heck - Wells Fargo Jeffrey Spector - Bank of America Merrill Lynch Anthony Paolone - JP Morgan Michael Griffin - Citigroup Steve Sakwa - Evercore ISI John Kim - BMO Dylan Burzinski - Green Street Advisors Caitlin Burrows - Goldman Sachs Tom Catherwood - BTIG Peter Abramowitz - Jefferies Operator Hello everyone, and thank you for joining the KRC 3Q ‘24 Earnings Conference Call. My name is Harry, and I'll be coordinating your call today. seekingalpha.com - 2 weeks ago

Kilroy Realty (KRC) Surpasses Q3 FFO and Revenue Estimates Kilroy Realty (KRC) came out with quarterly funds from operations (FFO) of $1.17 per share, beating the Zacks Consensus Estimate of $1.04 per share. This compares to FFO of $1.12 per share a year ago. zacks.com - 2 weeks ago

Kilroy Realty Corporation Reports Third Quarter Financial Results LOS ANGELES--(BUSINESS WIRE)--Kilroy Realty Corporation (NYSE: KRC) today reported financial results for its third quarter ended September 30, 2024. Financial Results Revenues grew 2.2% to $289.9 million for the quarter ended September 30, 2024, as compared to $283.6 million for the quarter ended September 30, 2023 Net income available to common stockholders of $0.44 per diluted share, as compared to $0.45 per diluted share for the quarter ended September 30, 2023 Funds from operations availabl. businesswire.com - 2 weeks ago

Kilroy Realty Announces Dates for Third Quarter 2024 Earnings Release and Conference Call LOS ANGELES--(BUSINESS WIRE)--Kilroy Realty Corporation (NYSE: KRC, "Kilroy") announced today it will release third quarter 2024 financial results after the market closes on Monday, October 28, 2024. The company will hold a conference call to discuss the results at 10:00 a.m. PT / 1:00 p.m. ET on Tuesday, October 29, 2024. To participate and obtain conference call dial-in details, register by using the following link: https://www.netroadshow.com/events/login?show=f1c41247&confId=58186 This. businesswire.com - 1 month ago

Kilroy Realty (KRC)'s Technical Outlook is Bright After Key Golden Cross Kilroy Realty Corporation (KRC) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, KRC's 50-day simple moving average crossed above its 200-day simple moving average, known as a "golden cross. zacks.com - 1 month ago

Two Dividend-Yielding REITs With Solid Upside Potential REITs are attractive for income investors due to their high dividend payouts, and office REITs, in particular, offer solid long-term upside as office activity could see an increase in 2025/2026. Kilroy Realty Corp. has underperformed its peers but offers a 5.7% dividend yield, a well-covered payout ratio, and a strong balance sheet with investment-grade credit. American Assets Trust has shown better recent performance with a 15.14% share price increase, solid balance sheet, and growth potential in affluent areas like San Diego and Honolulu. seekingalpha.com - 1 month ago

Kilroy Realty to Participate in the Bank of America 2024 Global Real Estate Conference LOS ANGELES--(BUSINESS WIRE)--Kilroy Realty Corporation (NYSE: KRC) announced today that members of the Company's senior management will participate in a roundtable discussion at the Bank of America 2024 Global Real Estate Conference on Tuesday, September 10, 2024. The live panel discussion is scheduled to begin at approximately 2:15 p.m. Eastern Time and will conclude approximately 35 minutes later. The company's participation in the conference will be webcast live in audio-only and available. businesswire.com - 2 months ago

2 Unbeloved REITs That Offer Long-Term Upside Potential Quality over quantity should be emphasized when selecting stocks. In this article, I recommend two office REITs I consider to fit the bill. Cousins Properties and American Assets Trust are highlighted as high-quality office REIT options, benefiting from favorable property locations and potential growth. Both offer attractive dividends, solid balance sheets, and attractive property locations, making them good buys for the long term. seekingalpha.com - 2 months ago

REIT Fantasy Football: 11 Companies To Start Your Team Like football, REIT investing is about gaining control of real estate. REITs are becoming more attractive to income investors as inflation remains below average REIT yield and interest rates fall. With one company from each of the 19 equity REIT sectors, I offer a starting lineup of 11 companies, 6 reserves, and 2 water boys, for a solid REIT portfolio. seekingalpha.com - 2 months ago

Kilroy Realty's Q2 Earnings: Strong Results, Low Valuations, And Growth Potential Q2 earnings report showed a decline in revenue and FFO per share, but increased liquidity and updated guidance. Occupancy rates vary across major cities, with positive leasing activity indicating potential for increased occupancy and FFO per share. Valuation models suggest KRC shares are undervalued, with a potential upside of up to 26.82% even with conservative growth assumptions. seekingalpha.com - 3 months ago

Cash Cows: 9 High-Yield REITs With Safe Dividends High-quality REITs with higher yields than usual may be a good investment opportunity. Income investors may find U.S. treasuries more appealing due to lower risk and higher yields compared to most REITs. Seeking Alpha Premium offers a Dividend Safety grade for REITs. A grade of B- or better indicates a mere 1 in 50 risk of a dividend cut. seekingalpha.com - 3 months ago

Kilroy Realty: Why I'm Buying More Of This 6.4% Yield Office REITs have seen plenty of headline risks, but the sector appears to be stabilizing. Kilroy Realty stock remains undervalued despite challenges in office space demand, showing signs of stabilizing occupancy and increasing leasing momentum. With a high-quality property profile, solid balance sheet, and 6.4% dividend yield, KRC presents an attractive investment opportunity for income and value investors. seekingalpha.com - 3 months ago

8. Profile Summary

Kilroy Realty Corporation KRC

COUNTRY US

INDUSTRY REIT - Office

MARKET CAP $ 4.58 B

Dividend Yield 1.40%

Description Kilroy Realty Corporation (NYSE: KRC, the company, KRC) is a leading West Coast landlord and developer, with a major presence in San Diego, Greater Los Angeles, the San Francisco Bay Area, and the Pacific Northwest. The company has earned global recognition for sustainability, building operations, innovation and design. As pioneers and innovators in the creation of a more sustainable real estate industry, the company's approach to modern business environments helps drive creativity, productivity and employee retention for some of the world's leading technology, entertainment, life science and business services companies. KRC is a publicly traded real estate investment trust (REIT) and member of the S&P MidCap 400 Index with more than seven decades of experience developing, acquiring and managing office and mixed-use projects. As of September 30, 2020, KRC's stabilized portfolio totaled approximately 14.3 million square feet of primarily office and life science space that was 92.2% occupied and 95.5% leased. The company also had 808 residential units in Hollywood and San Diego, which had a quarterly average occupancy of 85.0% and 37.5%, respectively. In addition, KRC had seven in-process development projects with an estimated total investment of $1.9 billion, totaling approximately 2.3 million square feet of office and life science space. The office and life science space was 90% leased.

Contact 12200 West Olympic Boulevard, Los Angeles, CA, 90064 https://www.kilroyrealty.com

IPO Date Jan. 29, 1997

Employees 248

Officers Ms. Angela M. Aman Chief Executive Officer & Director Mr. Eliott Trencher Executive Vice President, Chief Financial Officer & Chief Investment Officer Mr. John A. Osmond Executive Vice President & Head of Asset Management Mr. Delmar Nehrenberg Head of Los Angeles Region Mr. Justin William Smart President Mr. A. Robert Paratte Executive Vice President & Chief Leasing Officer Ms. Merryl Elizabeth Werber Senior Vice President, Controller & Chief Accounting Officer Ms. Lauren Stadler EVice President, General Counsel and Secretary Mr. Mike Grisso Senior Vice President of Development & Land Planning Mr. Nelson Ackerly Senior Vice President of San Diego Region

Price Chart KRC

Kilroy Realty Corporation KRC

Premium Plan

Unlimited Plan