Kilroy Realty (KRC) PT Lowered to $39 at RBC Capital, Reflecting 'Lower Earnings Trend'

RBC Capital analyst Michael Carroll lowered the price target on Kilroy Realty (NYSE: KRC) to $39.00 (from $44.00) while maintaining a Sector Perform rating.

The analyst commented: "FFO trend will likely remain volatile in 2025/2026; We are updating our estimates after the earnings report. We are encouraged by the uptick in KRC leasing volume in 4Q24 and its positive commentary on the improving trends. However, the company is still navigating an uncertain market, and its KOP2 project faces high-quality competition. Therefore, we believe the earnings trend will remain volatile given known move-outs, heavy lease roll in 2026, and developments/land rolling off capitalization. We are maintaining our Sector Perform rating and lowering our price target to $39/share to reflect the lower earnings trend."

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