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KRC

Kilroy RealtyNYSE:KRC Stock Report

Market Cap

US$8.2b

7D

-3.5%

1Y

45.7%

Updated

27 Oct, 2021

Data

Company Financials +
KRC fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance4/6
Financial Health3/6
Dividends5/6

KRC Overview

Kilroy Realty Corporation (NYSE: KRC, the “company”, “KRC”) is a leading West Coast landlord and developer, with a major presence in San Diego, Greater Los Angeles, the San Francisco Bay Area, and the Pacific Northwest.

Kilroy Realty Competitors

Boston Properties

NYSE:BXP

US$20.4b

Vornado Realty Trust

NYSE:VNO

US$9.0b

Douglas Emmett

NYSE:DEI

US$7.0b

Cousins Properties

NYSE:CUZ

US$5.9b

Price History & Performance

Summary of all time highs, changes and price drops for Kilroy Realty
Historical stock prices
Current Share PriceUS$67.67
52 Week HighUS$45.28
52 Week LowUS$74.05
Beta0.80
1 Month Change-1.77%
3 Month Change-3.27%
1 Year Change45.65%
3 Year Change-1.76%
5 Year Change-2.13%
Change since IPO168.00%

Recent News & Updates

Sep 22
With EPS Growth And More, Kilroy Realty (NYSE:KRC) Is Interesting

With EPS Growth And More, Kilroy Realty (NYSE:KRC) Is Interesting

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...

Aug 26

Kilroy Realty: This SWAN Is A Strong Buy, Here's Why

Kilroy Realty has experienced material share price weakness in recent months. Yet, it has demonstrated robust leasing spreads, and has high profile acquisitions and developments. I also highlight the dividend, balance sheet, and valuation.

Shareholder Returns

KRCUS REITsUS Market
7D-3.5%2.5%0.9%
1Y45.7%40.4%33.4%

Return vs Industry: KRC exceeded the US REITs industry which returned 37.7% over the past year.

Return vs Market: KRC exceeded the US Market which returned 33.4% over the past year.

Price Volatility

Is KRC's price volatile compared to industry and market?
KRC volatility
KRC Beta0.80
Industry Beta0.84
Market Beta1

Stable Share Price: KRC is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: KRC's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1947252John Kilroyhttps://www.kilroyrealty.com

Kilroy Realty Corporation (NYSE: KRC, the “company”, “KRC”) is a leading West Coast landlord and developer, with a major presence in San Diego, Greater Los Angeles, the San Francisco Bay Area, and the Pacific Northwest. The company has earned global recognition for sustainability, building operations, innovation and design. As pioneers and innovators in the creation of a more sustainable real estate industry, the company’s approach to modern business environments helps drive creativity, productivity and employee retention for some of the world’s leading technology, entertainment, life science and business services companies.

Kilroy Realty Fundamentals Summary

How do Kilroy Realty's earnings and revenue compare to its market cap?
KRC fundamental statistics
Market CapUS$8.18b
Earnings (TTM)US$659.26m
Revenue (TTM)US$919.28m

12.1x

P/E Ratio

8.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
KRC income statement (TTM)
RevenueUS$919.28m
Cost of RevenueUS$264.56m
Gross ProfitUS$654.71m
Expenses-US$4.55m
EarningsUS$659.26m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Oct 27, 2021

Earnings per share (EPS)5.61
Gross Margin71.22%
Net Profit Margin71.71%
Debt/Equity Ratio68.9%

How did KRC perform over the long term?

See historical performance and comparison

Dividends

3.1%

Current Dividend Yield

52%

Payout Ratio

Valuation

Is Kilroy Realty undervalued compared to its fair value and its price relative to the market?

29.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: KRC ($69.53) is trading below our estimate of fair value ($96.22)

Significantly Below Fair Value: KRC is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: KRC is good value based on its PE Ratio (12.4x) compared to the US REITs industry average (52.8x).

PE vs Market: KRC is good value based on its PE Ratio (12.4x) compared to the US market (18.3x).


Price to Earnings Growth Ratio

PEG Ratio: KRC's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: KRC is good value based on its PB Ratio (1.5x) compared to the US REITs industry average (2.1x).


Future Growth

How is Kilroy Realty forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

-39.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: KRC's earnings are forecast to decline over the next 3 years (-39.5% per year).

Earnings vs Market: KRC's earnings are forecast to decline over the next 3 years (-39.5% per year).

High Growth Earnings: KRC's earnings are forecast to decline over the next 3 years.

Revenue vs Market: KRC's revenue (6.8% per year) is forecast to grow slower than the US market (9.9% per year).

High Growth Revenue: KRC's revenue (6.8% 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%).


Past Performance

How has Kilroy Realty performed over the past 5 years?

16.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: KRC has a large one-off gain of $479.4M impacting its June 30 2021 financial results.

Growing Profit Margin: KRC's current net profit margins (71.7%) are higher than last year (19.8%).


Past Earnings Growth Analysis

Earnings Trend: KRC's earnings have grown by 16.1% per year over the past 5 years.

Accelerating Growth: KRC's earnings growth over the past year (279.7%) exceeds its 5-year average (16.1% per year).

Earnings vs Industry: KRC earnings growth over the past year (279.7%) exceeded the REITs industry 8.3%.


Return on Equity

High ROE: KRC's Return on Equity (12.1%) is considered low.


Financial Health

How is Kilroy Realty's financial position?


Financial Position Analysis

Short Term Liabilities: KRC's short term assets ($1.4B) exceed its short term liabilities ($492.3M).

Long Term Liabilities: KRC's short term assets ($1.4B) do not cover its long term liabilities ($4.2B).


Debt to Equity History and Analysis

Debt Level: KRC's debt to equity ratio (68.9%) is considered high.

Reducing Debt: KRC's debt to equity ratio has reduced from 71.1% to 68.9% over the past 5 years.

Debt Coverage: KRC's debt is not well covered by operating cash flow (11.4%).

Interest Coverage: KRC's interest payments on its debt are well covered by EBIT (3.7x coverage).


Balance Sheet


Dividend

What is Kilroy Realty current dividend yield, its reliability and sustainability?

3.07%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: KRC's dividend (2.99%) is higher than the bottom 25% of dividend payers in the US market (1.27%).

High Dividend: KRC's dividend (2.99%) is low compared to the top 25% of dividend payers in the US market (3.48%).


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 reasonable payout ratio (51.6%), KRC's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: KRC's dividends in 3 years are forecast to be covered by earnings (52.1% payout ratio).


Next Steps

  • Explore strong dividend paying companies in the Real Estate industry.

Management

How experienced are the management team and are they aligned to shareholders interests?

4.5yrs

Average management tenure


CEO

John Kilroy (72 yo)

25.08yrs

Tenure

US$11,904,496

Compensation

Mr. John B. Kilroy Jr. serves as the Chief Executive Officer and Director of Kilroy Realty Corporation since September 1996 and has been its Chairman of the Board since February 28, 2013. Mr. Kilroy has be...


CEO Compensation Analysis

Compensation vs Market: John's total compensation ($USD11.90M) is above average for companies of similar size in the US market ($USD6.29M).

Compensation vs Earnings: John's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: KRC's management team is considered experienced (4.5 years average tenure).


Board Members

Experienced Board: KRC's board of directors are considered experienced (7.4 years average tenure).


Ownership

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

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Kilroy Realty Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Kilroy Realty Corporation
  • Ticker: KRC
  • Exchange: NYSE
  • Founded: 1947
  • Industry: Office REITs
  • Sector: Real Estate
  • Implied Market Cap: US$8.177b
  • Market Cap: US$8.097b
  • Shares outstanding: 117.60m
  • Website: https://www.kilroyrealty.com

Number of Employees


Location

  • Kilroy Realty Corporation
  • 12200 West Olympic Boulevard
  • Suite 200
  • Los Angeles
  • California
  • 90064
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/27 22:14
End of Day Share Price2021/10/27 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.