BofA Securities Downgrades Kilroy Realty (KRC) to Neutral

BofA Securities analyst Jeffrey Spector downgraded Kilroy Realty (NYSE: KRC) from Buy to Neutral.

The analyst comments "KRC delivered a slight beat on better balance sheet management via higher interest income. The company has raised $900 million of debt at a blended rate of high 5% to date and addressed its maturities through Oct 2025. Its positive SS NOI growth outlook has been driven by mostly one-time items. Known vacates and low retention is likely to weigh on earnings and we estimate the narrowed occupancy guidance implies -90bp to -160bp loss in 2H23 excluding the impact of developments entering the stabilized pool."

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 $38.09 yesterday.

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