Cantor Fitzgerald Starts Kilroy Realty (KRC) at Sell; Robust Fundamentals, But Shares Fully Valued

Cantor Fitzgerald initiates coverage on Kilroy Realty (NYSE: KRC) with a Sell. PT $45.50.

Analyst, Sri, Nagarajan, said, "We base our investment thesis on (1) robust fundamentals in the Northern California office market; (2) Bottoming Los Angeles and tepid San Diego office market recoveries against a modestly growing U.S. economic backdrop; and (3) Kilroy’s local expertise in leasing and operations in its core markets, all offset by valuation we currently view as uncompelling.

For an analyst ratings summary and ratings history on Kilroy Realty click here. For more ratings news on Kilroy Realty click here.

Shares of Kilroy Realty closed at $46.01 yesterday.

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