Morgan Stanley Cuts Stake in Kilroy Realty Corp (NYSE:KRC)

Morgan Stanley cut its position in Kilroy Realty Corp (NYSE:KRC) by 38.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 332,231 shares of the real estate investment trust’s stock after selling 208,156 shares during the period. Morgan Stanley owned approximately 0.29% of Kilroy Realty worth $21,164,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM Advisors LLC purchased a new position in shares of Kilroy Realty in the first quarter worth $37,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in Kilroy Realty by 62.9% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 453 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 175 shares in the last quarter. Chevy Chase Trust Holdings Inc. purchased a new position in Kilroy Realty in the 4th quarter worth about $39,000. Van ECK Associates Corp bought a new position in Kilroy Realty during the 4th quarter valued at about $51,000. Finally, Quantum Capital Management boosted its holdings in shares of Kilroy Realty by 25.0% during the 4th quarter. Quantum Capital Management now owns 846 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 95.98% of the company’s stock.

Shares of NYSE KRC opened at $58.70 on Wednesday. The stock has a market cap of $6.72 billion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 3.10 and a beta of 0.72. Kilroy Realty Corp has a 1 year low of $45.96 and a 1 year high of $88.99. The firm has a fifty day moving average price of $59.51 and a 200-day moving average price of $70.22. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.75 and a quick ratio of 2.75.

Kilroy Realty (NYSE:KRC) last issued its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.62). The firm had revenue of $221.30 million during the quarter, compared to the consensus estimate of $220.94 million. Kilroy Realty had a return on equity of 4.27% and a net margin of 23.13%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 EPS. On average, research analysts expect that Kilroy Realty Corp will post 3.8 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Monday, June 29th. Kilroy Realty’s dividend payout ratio is currently 49.62%.

A number of brokerages recently weighed in on KRC. Jefferies Financial Group began coverage on shares of Kilroy Realty in a research report on Thursday, April 16th. They set a “hold” rating and a $62.00 price objective on the stock. Mizuho lowered their price target on Kilroy Realty from $97.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Bank of America downgraded Kilroy Realty from a “buy” rating to a “neutral” rating and set a $68.00 price target on the stock. in a research note on Wednesday, June 24th. Robert W. Baird upped their price objective on Kilroy Realty from $53.00 to $67.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, Zacks Investment Research cut Kilroy Realty from a “hold” rating to a “sell” rating in a research report on Friday, May 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $71.50.

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.

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

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