Kilroy Realty CorporationNYSE
Mon, Nov. 28, 10:02 AM
- Evercore boosts its estimate for the 10-year Treasury yield to 3% to end next year. While REITs are in "the crosshairs" of higher rates, the improving economy should help offset that in areas like apartments and hotels, says analyst Steve Sakwa.
- He also notes the sectors have struggled of late, meaning they've discounted plenty of bad news.
- Upgraded to Buy from Hold are AvalonBay (AVB +1.9%), Essex Property (ESS +1.8%), and UDR (UDR +1.8%), with Sakwa noting supply growth on the coasts becoming less of a concern beginning in the second half of 2017.
- He's also got a valuation-related downgrade in the office space to Hold from Buy: Kilroy Realty (KRC -0.4%).
- Source: Bloomberg
Wed, Oct. 26, 10:43 PM
Tue, Oct. 25, 5:35 PM
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Fri, Oct. 14, 9:55 AM
- Boston Properties (BXP -0.5%) is cut to Hold from Buy, while Kilroy Realty (KRC +1.7%) is upgraded to Buy from Hold.
- The $81 price target for Kilroy suggests 21% upside.
- Checking the scorecard, Kilroy is higher by 10% YTD, beating BXP by 900 basis points. On a year-over-year basis, though, BXP's 5.8% gain tops Kilroy by more than 400 bps.
Thu, Sep. 15, 5:11 PM
Thu, Aug. 25, 11:03 AM
- The "real value" in real estate is in the office sector, says analyst David Rodgers, particularly in central business districts.
- "While development in Industrial as well as concentrated, potentially unsustainable land grabs in Data are risks, we simply anticipate better risk/return opportunities in Office."
- Top picks: Hudson Pacific Properties (HPP +1.2%); $38 PT, or 15% upside. Strength in a very tight Silicon Valley office market has the potential to drive additional leasing at the nine assets considered in "lease up" from the EOP portfolio.
- Kilroy Realty (KRC +1.5%); $78 PT, or 12% upside. "Our broker contacts confirm there is still solid leasing activity throughout the Bay Area."
- SL Green (SLG +1.1%); $131 PT, or 13% upside.
- Franklin Street Properties (FSP +0.8%); $15 PT, or 18% upside.
- One industrial name makes the list: Stag Industrial (STAG +1.9%); $26 PT, or 6.8% upside. The shares for some time have traded at a wide valuation discount to its peer set. The 5.7% dividend yield is among the highest in Baird's coverage.
Thu, Aug. 25, 8:12 AM
- Now at BTIG from Cowen & Co., analyst James Sullivan starts coverage of Physicians Realty Trust (NYSE:DOC) with a Buy rating and $42 price target. Growing the portfolio to nearly $3B following the $130M IPO, management has earned a reputation as solid capital allocators in the medical office space. New deals should remain a core driver of the business, resulting in outsized earnings growth next year.
- STORE Capital (NYSE:STOR) is initiated at Buy with a $35 price target, with Sullivan taking note of the company's combination of the smallest portfolio, differentiated acquisition strategy, and management track record.
- A West Coast focus and management's ability to source new investments should deliver excess returns to investors, says Sullivan, starting Retail Opportunity (NASDAQ:ROIC) with a Buy and $25 price target.
- Kilroy Realty (NYSE:KRC) has upside from the below-market rents in its portfolio and an extension into life science real estate. He starts it at Buy with $80 price target.
- Terreno Realty (NYSE:TRNO), Corporate Office Properties (NYSE:OFC), Macerich (NYSE:MAC), Kimco (NYSE:KIM) remain Buys.
- A Buy at Cowen, Duke Realty (NYSE:DRE) is stared with just a Neutral at BTIG.
- Previously: BTIG launches REIT sector coverage (Aug. 25)
Mon, Jul. 25, 6:42 PM
Sun, Jul. 24, 5:35 PM
Thu, May 19, 4:53 PM
- Kilroy Realty (NYSE:KRC) declares $0.375/share quarterly dividend, 7.1% increase from prior dividend of $0.35.
- Forward yield 2.47%
- Payable July 13; for shareholders of record June 30; ex-div June 28.
Wed, Apr. 27, 5:34 PM
- Kilroy Realty (NYSE:KRC): Q1 FFO of $0.82 beats by $0.01.
- Rental income of $133.76M (+2.2% Y/Y) misses by $4.42M.
Tue, Apr. 26, 5:35 PM
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Fri, Apr. 15, 9:59 AM
- Kilroy Realty (KRC +1%) continues a big run off the February lows and leads the office REIT sector today after an upgrade to Outperform at BMO Capital. The price target of $70 is up from $64, and represents about 13% upside from yesterday's close.
- KRC is now higher by more than 30% since mid-February.
Tue, Feb. 23, 5:05 PM
- Kilroy Realty (NYSE:KRC) declares $0.35/share quarterly dividend, in line with previous.
- Forward yield 2.59%
- Payable April 13; for shareholders of record March 31; ex-div March 29.
Mon, Feb. 1, 9:04 AM
- Kilroy Realty (NYSE:KRC): Q4 FFO of $0.80 beats by $0.01.
- Rental income of $133.46M (+4.7% Y/Y) misses by $2.7M.
Mon, Jan. 25, 11:33 AM
- "We think any meaningful indication that the private tech market is headed for a sustained downfall will impact tech-heavy REIT stocks in all property sectors, and in a negative way," says Mizuho Securities in a report titled "Bubble Jeopardy 2.0."
- The Mizuho team notes negative sentiment alone has impacted some office REIT names, even as there's been no tangible slowdown in rent growth. What might happen if things pivot from sentiment to reality?
- The report mentions no REITs by name, but those apartment REITs with Bay Area holdings include AvalonBay (AVB +0.2%), Equity Residential (EQR +0.3%), Essex Property (ESS) and UDR (UDR -0.4%). Office REITs would include Kilroy Realty (KRC -0.4%) and Hudson Pacific (HPP -0.5%).
- Source: Barron's