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Kilroy Realty Corp KRC

Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Kilroy Reports Strong First-Quarter Results as the Tech Sector Continues to Prosper

Kevin Brown Equity Analyst

Analyst Note

| Kevin Brown |

No-moat rated Kilroy Realty reported strong first-quarter results as a booming technology and life sciences sector on the west coast continued to prosper even in the face of the pandemic. The firm reported first-quarter funds from operations, or FFO, of $0.98 per share, slightly lower than the $1.00 in FFO reported for the first quarter of 2020. These results are especially encouraging against a backdrop of a challenging office real estate market amid a pandemic that has significantly dented office utilization rates. We are maintaining our $61 per share fair value estimate for Kilroy Realty after incorporating these results into our valuation model.

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Company Profile

Business Description

Kilroy Realty is a premier owner and landlord of approximately 13 million square feet of office space across Los Angeles, Orange County, San Diego, the San Francisco Bay Area, and greater Seattle. The company operates as a real estate investment trust.

Contact
12200 West Olympic Boulevard, Suite 200
Los Angeles, CA, 90064
T +1 310 481-8400
Sector Real Estate
Industry REIT - Office
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2021
Stock Type Hard Assets
Employees 252

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