Summit Global Investments Buys New Shares in Kilroy Realty Co. (NYSE:KRC)

Summit Global Investments acquired a new stake in Kilroy Realty Co. (NYSE:KRC) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 40,558 shares of the real estate investment trust’s stock, valued at approximately $1,616,000.

Other hedge funds have also added to or reduced their stakes in the company. Coldstream Capital Management Inc. increased its position in Kilroy Realty by 4.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 8,284 shares of the real estate investment trust’s stock valued at $262,000 after buying an additional 342 shares in the last quarter. Covestor Ltd raised its holdings in Kilroy Realty by 23.8% in the third quarter. Covestor Ltd now owns 1,933 shares of the real estate investment trust’s stock worth $61,000 after buying an additional 372 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Kilroy Realty by 15.9% in the third quarter. EverSource Wealth Advisors LLC now owns 2,800 shares of the real estate investment trust’s stock worth $89,000 after buying an additional 384 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Kilroy Realty by 1.4% during the third quarter. Arizona State Retirement System now owns 31,680 shares of the real estate investment trust’s stock valued at $1,001,000 after buying an additional 429 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Kilroy Realty by 28.1% during the third quarter. Fifth Third Bancorp now owns 2,464 shares of the real estate investment trust’s stock valued at $78,000 after acquiring an additional 540 shares in the last quarter. 94.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on KRC shares. Barclays initiated coverage on Kilroy Realty in a research report on Wednesday, March 27th. They issued an “equal weight” rating and a $38.00 price objective on the stock. KeyCorp lowered their price target on Kilroy Realty from $47.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Royal Bank of Canada downgraded Kilroy Realty from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $44.00 to $39.00 in a report on Friday, March 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Kilroy Realty in a research report on Tuesday, January 30th. They issued a “hold” rating and a $40.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kilroy Realty has a consensus rating of “Hold” and an average price target of $39.00.

Kilroy Realty Stock Performance

Shares of NYSE KRC traded down $0.36 during midday trading on Friday, hitting $33.91. 1,459,902 shares of the company’s stock traded hands, compared to its average volume of 1,092,471. The firm has a fifty day moving average of $34.89 and a 200 day moving average of $35.18. Kilroy Realty Co. has a 1 year low of $25.99 and a 1 year high of $43.37. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.65 and a current ratio of 2.65. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 2.47 and a beta of 1.02.

Kilroy Realty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 29th were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a yield of 6.37%. Kilroy Realty’s dividend payout ratio is currently 120.00%.

Kilroy Realty Company Profile

Kilroy Realty Corporation (NYSE: KRC, the company, Kilroy) is a leading U.S. landlord and developer, with operations in San Diego, Greater Los Angeles, the San Francisco Bay Area, Greater Seattle and Austin. The company has earned global recognition for sustainability, building operations, innovation and design.