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Leasing Momentum In San Francisco Will Offset Office Headwinds Across Markets

Published
02 Sep 24
Updated
29 Oct 25
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AnalystConsensusTarget's Fair Value
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1Y
5.1%
7D
3.3%

Author's Valuation

US$421.2% overvalued intrinsic discount

AnalystConsensusTarget Fair Value

Shared on 29 Oct 25

Fair value Decreased 0.32%

The analyst price target for Kilroy Realty has shifted slightly lower to $42.00. Analysts cite moderated profit margins and mixed leasing trends, despite some recent improvements in key markets.

Shared on 15 Oct 25

Fair value Increased 2.93%

Persistent Remote Work And Tenant Downsizing Will Undermine Office Assets

Kilroy Realty's analyst price target has increased from $40.93 to $42.13 per share. Analysts cite improving leasing trends in key markets and gradual progress on lease expirations as drivers for the upward revision.

Shared on 28 Sep 25

Fair value Increased 2.50%

Persistent Remote Work And Tenant Downsizing Will Undermine Office Assets

Analysts modestly raised Kilroy Realty’s price target to $40.93 amid improved leasing momentum in San Francisco but remain cautious due to weak broader office demand and limited occupancy gains outside the Bay Area. Analyst Commentary Bullish analysts noted a healthy improvement in the San Francisco Financial District and SoMa, boosting confidence in Kilroy's ability to address remaining lease expirations through 2027.

Shared on 31 Aug 25

Fair value Increased 4.17%

Persistent Remote Work And Tenant Downsizing Will Undermine Office Assets

Analysts raised Kilroy Realty’s price target slightly to $39.47, citing Q2 updates but remaining cautious given declining funds from operations, weak tenant retention, sector headwinds, and a lack of strong near-term catalysts. Analyst Commentary Bearish analysts highlight concerns about declining annual funds from operations (projected 7% drop over three years) due to low office tenant retention and elevated office space availability in Kilroy Realty's key West Coast markets.

Shared on 08 May 25

Fair value Decreased 1.86%

Persistent Remote Work And Tenant Downsizing Will Undermine Office Assets

Shared on 30 Apr 25

Fair value Decreased 0.33%

SF Leasing And AI Expansion Will Spur Opportunities Amid Risks

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 23 Apr 25

SF Leasing And AI Expansion Will Spur Opportunities Amid Risks

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 17 Apr 25

Fair value Decreased 1.01%

SF Leasing And AI Expansion Will Spur Opportunities Amid Risks

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 09 Apr 25

Fair value Decreased 1.49%

SF Leasing And AI Expansion Will Spur Opportunities Amid Risks

AnalystConsensusTarget has decreased revenue growth from 1.5% to 1.2%.

Shared on 02 Apr 25

Fair value Decreased 2.40%

SF Leasing And AI Expansion Will Spur Opportunities Amid Risks

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 26 Mar 25

Fair value Decreased 0.96%

SF Leasing And AI Expansion Will Spur Opportunities Amid Risks

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 19 Mar 25

Fair value Decreased 3.88%

SF Leasing And AI Expansion Will Spur Opportunities Amid Risks

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 11 Mar 25

Fair value Increased 12%

SF Leasing And AI Expansion Will Spur Opportunities Amid Risks

AnalystConsensusTarget has decreased revenue growth from 3.0% to 1.6% and increased future PE multiple from 39.5x to 46.0x.