As the world moves forward and technology advances, one company seems to be focusing on what really matters: real estate. Kilroy Realty Co. (NYSE:KRC) is a self-administered real estate investment trust, which means it invests in office and mixed-use real estate assets. Despite the pandemic continuing to pose a threat, Kilroy is still showing growth. In its most recent Form 13F filing with the Securities & Exchange Commission, it was revealed that Renaissance Technologies LLC boosted its holdings in KRC by a whopping 217.7% during the fourth quarter of 2022.
Renaissance Technologies LLC now owns approximately 0.44% of Kilroy Realty worth $19,903,000 as of its latest SEC filing. This significant increase in ownership showcases the confidence Renaissance Technologies LLC has in Kilroy’s future potential to grow as an investment opportunity.
But what sets Kilroy apart from other real estate investments? It isn’t just another development company – Kilroy focuses primarily on owning Class A properties in the coastal regions of Los Angeles, Orange County, San Diego County, the San Francisco Bay Area, and Greater Seattle. These prime locations are highly sought after by tenants who prioritize proximity to these cities for business purposes.
The stock itself (KRC) has seen some fluctuations throughout this year; it opened at $29.94 on June 11th and had a fifty-two week low of $25.99 and a fifty-two week high of $55.85. The company’s debt-to-equity ratio stands at 0.78 with quick and current ratios both at 2.27 according to their latest SEC filing data available.
The fifty-day moving average for KRC is currently at $28.90 whilst the two-hundred day moving average points towards $34.63 – showcasing KRC’s volatile nature due to various changing factors such as interest rates or new construction projects in the area via local competitors.
In conclusion, Renaissance Technologies LLC’s recent bullish investment in Kilroy Realty Co. only further emphasizes its potential for growth as a reliable real estate investing option. This investment in Kilroy Realty Corp. is not only indicative of their future success but also highlights once again that despite a pandemic ravaging the world, real estate continues to be a solid option for investments due to the need for bricks and mortar businesses.
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Kilroy Realty Corporation Experiences Increase in Ownership by Institutional Investors
Kilroy Realty Corporation, a publicly traded real estate investment trust headquartered in Los Angeles, has recently seen an increase in its ownership by institutional investors. The Manufacturers Life Insurance Company boosted its stake in Kilroy Realty by 0.9%, now owning 86,987 shares valued at $3,364,000. ExodusPoint Capital Management LP increased its stake by a staggering 938.1%, now owning 82,245 shares valued at $3,180,000. Credit Suisse AG also raised their stake in Kilroy Realty by 35.5% and now owns 262,264 shares with a value of $10,142,000.
Additionally, Martingale Asset Management L P acquired a new stake worth $218,000 and Geode Capital Management LLC has lifted its stake by 4.2% to reach an impressive number of 1,715,019 shares valued at $66,319,000. These investments brought the total percentage of stock owned by hedge funds and other institutional investors to a commanding figure of 89.86%.
Several research firms have made comments about KRC’s recent performance and financial standing. StockNews.com assumed coverage on shares of Kilroy Realty last May while Deutsche Bank Aktiengesellschaft decreased their target price on the company from $46 to $41 due to specific market trends that took place earlier this year.
The Goldman Sachs Group assumed coverage as well with a rating of “buy” and a target price for the company set at $41 per share; however RBC decreased their target price from $45 to $40 in May which resulted in Bloomberg.com rating the company’s average rating currently as “hold” with an average target price of approximately $44.25.
In addition to these notable developments within the company’s ownership and analyst assessments earlier this year in March Kilroy Realty announced that it will be lowering its quarterly dividend from $0.54 to $0.46 per share while maintaining a payout ratio of 107.46%. Shareholders on record by June 30th will be the ones eligible for the dividend to be paid out on July 12th while ex-dividend shares would have a timestamp of June 29th.
Kilroy Realty is well known within real estate investment trusts and investors for its focus on developing, acquiring and operating premier commercial properties across its core coastal markets in Los Angeles, San Francisco, Seattle and San Diego. A publicly traded organization since the late 90s Kilroy Realty has become an attractive and dependable source of value action throughout the years leaving investors with high expectations for continued future growth.