|Over a week ago|
Kilroy Realty assumed with a Neutral at Mizuho » 07:2107/1407/14/21
Mizuho analyst Haendel…
Mizuho analyst Haendel St. Juste assumed coverage of Kilroy Realty with a Neutral rating and $71 price target following an analyst departure. The rating and price target are unchanged.
|Over a month ago|
Kilroy Realty price target raised to $65 from $60 at Deutsche Bank » 06:5006/2506/25/21
Deutsche Bank analyst…
Deutsche Bank analyst Derek Johnston raised the firm's price target on Kilroy Realty to $65 from $60 and keeps a Sell rating on the shares. The return to office post pandemic is gaining focus as companies and employees prepare to return en masse in September, Johnston tells investors in a research note. Office real estate investment trusts have traded higher as earnings remained largely intact, except for ancillary income such as parking, retail and any hotel revenues, which largely remain under pressure, says the analyst. He believes the return of ancillary revenues will aid earnings growth and "fill the earnings hole afflicting the Office REITs."
Kilroy Realty to acquire Indeed Tower in Austin for $580M » 18:5406/1606/16/21
Kilroy Realty Corporation…
Kilroy Realty Corporation said it has reached agreement in three separate off-market transactions totaling approximately $670M to acquire Indeed Tower in Austin, Texas, a land site adjacent to its 2100 Kettner development project in San Diego and the ground lease under its Key Center office tower in Bellevue, Washington. All three transactions are expected to close by the end of the third quarter and are subject to certain closing conditions. The company will acquire Indeed Tower for $580M, the San Diego land site for $42M, and the Key Center project for $47M.
Austin market entry 'a logical step' for Kilroy Realty, says BMO Capital » 11:3206/1606/16/21
BMO Capital analyst John…
BMO Capital analyst John Kim notes that Kilroy Realty is reportedly making an entry into the Austin market through the purchase of the new Indeed Tower for $744.5M, a record price. The analyst views this as "a logical step" given Austin is the #3 market for tech job listings. However, unlike Kilroy Realty's entries in San Francisco and Seattle in 2009-2010, the company is not exactly entering at the bottom, Kim adds, pointing out that Austin has been on REIT radar screens for years. The analyst has an Outperform rating and a price target of $79 on the shares.
Kilroy Realty initiated with an Outperform at Wolfe Research » 16:3506/1406/14/21
Wolfe Research analyst…
Wolfe Research analyst Andrew Rosivach initiated coverage of Kilroy Realty with an Outperform rating and $88 price target. The company can produce competitive growth to shorter duration businesses following the sale of 1800 Owens, Rosivach tells investors in a research note.
Kilroy Realty assumed with a Neutral at Goldman Sachs » 05:2505/2505/25/21
Goldman Sachs analyst…
Goldman Sachs analyst Caitlin Burrows assumed coverage of Kilroy Realty with a Neutral rating. The analyst assumed coverage of five U.S. office real estate investment trust with a constructive view on long-term demand for high quality office space, but a currently balanced relative stock view given recent valuation moves and expectations for earnings growth.
|Over a quarter ago|
Kilroy Realty price target raised to $60 from $53 at Deutsche Bank » 07:0104/1904/19/21
Deutsche Bank analyst…
Deutsche Bank analyst Derek Johnston raised the firm's price target on Kilroy Realty to $60 from $53 and keeps a Sell rating on the shares. The office real estate investment trust outlook "remains murky" as we emerge from the pandemic induced recession as the mandated virus-related closures spurred work from home policies, Johnston tells investors in a research note. The analyst believes the work from home trend and "hub and spoke" options will prove "long lasting" and lead to an overall reduced demand for office space.
Kilroy Realty price target raised to $70 from $58 at Mizuho » 06:5604/1404/14/21
Mizuho analyst Omotayo…
Mizuho analyst Omotayo Okusanya raised the firm's price target on Kilroy Realty to $70 from $58 and keeps a Neutral rating on the shares. Office real estate investment trust stock underperformance year-to-date suggests ongoing concern about the potential longer-term impact of work-from-home on office demand, Okusanya tells investors in a research note. The analyst believes the Q1 results "should remain weak" but says metrics like office utilization and parking income should improve sequentially. Okusanya's underlying assumption now is a return to the office in Q3 of 2021 with an increase in new leasing volume through 2022 and 2023. That said, work-from-home will lead to some real estate rationalization and possibly further occupancy loss, says the analyst.
Evercore upgrades laggard Kilroy to Outperform amid signs of leasing interest » 08:1204/1204/12/21
As previously reported,…
As previously reported, Evercore ISI analyst Steve Sakwa upgraded Kilroy Realty to Outperform from In Line with a price target of $76, up from $73. While he remains cautious on office leasing trends over the next six to nine months, Sakwa notes that Kilroy shares have lagged the REIT Index by 660 basis points over the past 30 days. Meanwhile, he points to a steady climb in the number of tenants "in the market" looking for space, which he calls a good forward indicator of leasing, in the San Francisco market, Sakwa said. Kilroy's developments are well leased and should contribute to earnings growth later this year and into 2022, added the analyst.
Kilroy Realty upgraded to Outperform from In Line at Evercore ISI » 05:3804/1204/12/21
Evercore ISI analyst…
Evercore ISI analyst Steve Sakwa upgraded Kilroy Realty to Outperform from In Line with a $76 price target.