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.
Established dividend payer and slightly overvalued.
Share Price & News
How has Kilroy Realty's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: KRC's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: KRC exceeded the US REITs industry which returned -27.1% over the past year.
Return vs Market: KRC underperformed the US Market which returned -15.9% over the past year.
Price Volatility Vs. Market
How volatile is Kilroy Realty's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 weeks ago | Simply Wall StHave Insiders Been Selling Kilroy Realty Corporation (NYSE:KRC) Shares This Year?
1 month ago | Simply Wall StIs There Now An Opportunity In Kilroy Realty Corporation (NYSE:KRC)?
2 months ago | Simply Wall StHow Much Did Kilroy Realty Corporation's (NYSE:KRC) CEO Pocket Last Year?
Is Kilroy Realty undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: KRC ($58.4) is trading below our estimate of fair value ($103.51)
Significantly Below Fair Value: KRC is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: KRC is poor value based on its PE Ratio (31.2x) compared to the REITs industry average (22.5x).
PE vs Market: KRC is poor value based on its PE Ratio (31.2x) compared to the US market (12.2x).
Price to Earnings Growth Ratio
PEG Ratio: KRC is poor value based on its PEG Ratio (3.8x)
Price to Book Ratio
PB vs Industry: KRC is overvalued based on its PB Ratio (1.4x) compared to the US REITs industry average (1.1x).
How is Kilroy Realty forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: KRC's forecast earnings growth (8.2% per year) is above the savings rate (1.7%).
Earnings vs Market: KRC's earnings (8.2% per year) are forecast to grow slower than the US market (13.4% per year).
High Growth Earnings: KRC's earnings are forecast to grow, but not significantly.
Revenue vs Market: KRC's revenue (10.8% per year) is forecast to grow faster than the US market (7% per year).
High Growth Revenue: KRC's revenue (10.8% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: KRC's Return on Equity is forecast to be low in 3 years time (4.5%).
How has Kilroy Realty performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: KRC has a large one-off gain of $36.8M impacting its December 31 2019 financial results.
Growing Profit Margin: KRC's current net profit margins (23.1%) are lower than last year (34.3%).
Past Earnings Growth Analysis
Earnings Trend: KRC's earnings have grown by 7.3% per year over the past 5 years.
Accelerating Growth: KRC's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: KRC had negative earnings growth (-24.6%) over the past year, making it difficult to compare to the REITs industry average (4.3%).
Return on Equity
High ROE: KRC's Return on Equity (4.7%) is considered low.
How is Kilroy Realty's financial position?
Financial Position Analysis
Short Term Liabilities: KRC's short term assets ($488.2M) do not cover its short term liabilities ($494.6M).
Long Term Liabilities: KRC's short term assets ($488.2M) do not cover its long term liabilities ($3.8B).
Debt to Equity History and Analysis
Debt Level: KRC's debt to equity ratio (77.7%) is considered high.
Reducing Debt: KRC's debt to equity ratio has reduced from 90.5% to 77.7% over the past 5 years.
Debt Coverage: KRC's debt is not well covered by operating cash flow (10.9%).
Interest Coverage: KRC's interest payments on its debt are well covered by EBIT (5.1x coverage).
What is Kilroy Realty's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: KRC's dividend (3.32%) is higher than the bottom 25% of dividend payers in the US market (2.07%).
High Dividend: KRC's dividend (3.32%) is low compared to the top 25% of dividend payers in the US market (5.82%).
Stability and Growth of Payments
Stable Dividend: KRC's dividends per share have been stable in the past 10 years.
Growing Dividend: KRC's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (46.9%), KRC's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: KRC's dividends in 3 years are forecast to be thoroughly covered by earnings (0.4% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
John Kilroy (70yo)
Mr. John B. Kilroy Jr. serves as the Chief Executive Officer, President and Director of Kilroy Realty Corporation since September 1996 and has been its Chairman of the Board since February 28, 2013. Mr. Ki ...
CEO Compensation Analysis
Compensation vs Market: John's total compensation ($USD43.62M) is above average for companies of similar size in the US market ($USD7.67M).
Compensation vs Earnings: John's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
|Executive VP||10.33yrs||US$5.13m||0.038% $2.6m|
|Executive VP & COO||23.25yrs||US$6.40m||0.046% $3.2m|
|Executive Vice President of Development & Construction Services||19.67yrs||US$4.44m||0.093% $6.4m|
|Senior VP & Chief Investment Officer||0.67yr||no data||0.010% $697.7k|
|Senior VP||1.17yrs||no data||0.0075% $518.4k|
|Executive VP||1.17yrs||no data||0.039% $2.7m|
|Senior VP & Treasurer||no data||no data||no data|
|Executive Vice President of Leasing and Business Development||6.25yrs||no data||0.029% $2.0m|
|Senior Vice President of Development & Land Planning||5.75yrs||no data||no data|
Experienced Management: KRC's management team is seasoned and experienced (6.3 years average tenure).
|Lead Independent Director||6.08yrs||US$253.78k||0.0012% $82.7k|
|Independent Director||12.83yrs||US$190.03k||0.0035% $241.8k|
|Independent Director||5.92yrs||US$183.78k||0.0068% $471.2k|
|Independent Director||5.92yrs||US$183.78k||no data|
|Independent Director||4.92yrs||US$181.28k||no data|
Experienced Board: KRC's board of directors are considered experienced (6 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 3.2%.
Kilroy Realty Corporation's company bio, employee growth, exchange listings and data sources
- Name: Kilroy Realty Corporation
- Ticker: KRC
- Exchange: NYSE
- Founded: 1947
- Industry: Office REITs
- Sector: Real Estate
- Implied Market Cap: US$6.949b
- Market Cap: US$7.016b
- Shares outstanding: 117.09m
- Website: https://www.kilroyrealty.com
Number of Employees
- Kilroy Realty Corporation
- 12200 West Olympic Boulevard
- Suite 200
- Los Angeles
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|KRC||NYSE (New York Stock Exchange)||Yes||Common Stock||US||USD||Jan 1997|
|KRC||DB (Deutsche Boerse AG)||Yes||Common Stock||DE||EUR||Jan 1997|
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. At December 31, 2019, the company’s stabilized portfolio totaled approximately 13.5 million square feet of office space located in the coastal regions of Los Angeles, San Diego, the San Francisco Bay Area and Greater Seattle and 200 residential units located in the Hollywood submarket of Los Angeles. The stabilized portfolio was 94.6% occupied and 97.0% leased. In addition, KRC had under construction six projects totaling approximately 2.3 million square feet of office and life science space that were 89% leased and 564 residential units. KRC also had 237 residential units in lease-up, which was 50% leased, and two projects in the tenant improvement phase, The Exchange on 16th, totaling 750,000 square feet, and One Paseo retail, totaling 96,000 square feet, that were both 100% leased. The company’s commitment and leadership position in sustainability has been recognized by various industry groups across the world. In December 2019, the company was recognized by GRESB as the sustainability leader in the Americas across all asset classes for the sixth time. Other sustainability accolades include NAREIT’s Leader in the Light award for the past six years and the EPA’s highest honor of ENERGY STAR Partner of the Year Sustained Excellence award for the past four years. The company is listed in the Dow Jones Sustainability World Index. At the end of the fourth quarter, the company’s stabilized portfolio was 64% LEED certified and 70% of eligible properties were ENERGY STAR certified under the new scoring methodology.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/04/08 02:51|
|End of Day Share Price||2020/04/07 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.