Kilroy RealtyNYSE: KRC

Kilroy Realty Corporation (NYSE:KRC ) Q3 2024 Results Conference Call October 29, 2024 1:00 PM ET Company Participants Taylor Friend - Senior Vice President, Capital Markets & Treasurer Angela Aman - CEO Eliott Trencher - EVP, CIO Jeffrey Kuehling - EVP, CFO Rob Paratte - EVP, Chief Leasing Officer Justin Smart - President Conference Call Participants Nick Yulico - Scotiabank Upal Rana - KeyCorp Blaine Heck - Wells Fargo Jeffrey Spector - Bank of America Merrill Lynch Anthony Paolone - JP Morgan Michael Griffin - Citigroup Steve Sakwa - Evercore ISI John Kim - BMO Dylan Burzinski - Green Street Advisors Caitlin Burrows - Goldman Sachs Tom Catherwood - BTIG Peter Abramowitz - Jefferies Operator Hello everyone, and thank you for joining the KRC 3Q ‘24 Earnings Conference Call. My name is Harry, and I'll be coordinating your call today.

LOS ANGELES--(BUSINESS WIRE)--Kilroy Realty Corporation (NYSE: KRC, "Kilroy") announced today it will release third quarter 2024 financial results after the market closes on Monday, October 28, 2024. The company will hold a conference call to discuss the results at 10:00 a.m. PT / 1:00 p.m. ET on Tuesday, October 29, 2024. To participate and obtain conference call dial-in details, register by using the following link: https://www.netroadshow.com/events/login?show=f1c41247&confId=58186 This.

Q2 earnings report showed a decline in revenue and FFO per share, but increased liquidity and updated guidance. Occupancy rates vary across major cities, with positive leasing activity indicating potential for increased occupancy and FFO per share. Valuation models suggest KRC shares are undervalued, with a potential upside of up to 26.82% even with conservative growth assumptions.

Office REITs have seen plenty of headline risks, but the sector appears to be stabilizing. Kilroy Realty stock remains undervalued despite challenges in office space demand, showing signs of stabilizing occupancy and increasing leasing momentum. With a high-quality property profile, solid balance sheet, and 6.4% dividend yield, KRC presents an attractive investment opportunity for income and value investors.

Kilroy Realty (KRC) came out with quarterly funds from operations (FFO) of $1.10 per share, beating the Zacks Consensus Estimate of $1.08 per share. This compares to FFO of $1.19 per share a year ago.

In trading on Monday, shares of Kilroy Realty were yielding above the 7% mark based on its quarterly dividend (annualized to $2.16), with the stock changing hands as low as $30.78 on the day. Dividends are particularly important for investors to consider, because historically speaking dividends have provided a considerable share of the stock market's total return.

Kilroy Realty's stock has dropped 18% this year due to concerns about a lack of interest rate cuts in 2024. The company reported strong leasing figures in the first quarter, but occupancy fell to 84.2%. Kilroy Realty's dividend is safe with coverage of almost 200%.

LOS ANGELES--(BUSINESS WIRE)--Kilroy Realty Corporation (NYSE: KRC, "Kilroy") announced today it will release first quarter 2024 financial results after the market closes on Thursday, May 2, 2024. The company will hold a conference call to discuss the results at 9:00 a.m. PT / 12:00 p.m. ET on Friday, May 3, 2024. To participate and obtain conference call dial-in details, register by using the following link: https://www.netroadshow.com/events/login?show=7488a962&confId=58187 This call will.

Kilroy Realty has maintained stable dividend distributions and currently offers a 6.2% yield despite the headwinds faced by office REITs. The REIT's portfolio consists of high-quality Class A properties in West Coast markets, with technology tenants making up 54% of annualized base rent. KRC's fourth-quarter revenue dipped due to higher office vacancy rates, but FFO coverage for the dividend remains strong.