Mizuho Securities Reiterates Buy Rating on Kilroy Realty (KRC) Following 1Q

April 30, 2020 6:59 AM EDT
Get Alerts KRC Hot Sheet
Price: $69.11 +0.14%

Rating Summary:
    12 Buy, 8 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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Mizuho Securities analyst Omotayo Okusanya reiterated a Buy rating and $72.00 price target on Kilroy Realty (NYSE: KRC) following the company's 1Q earnings report. KRC reported 1Q20 FFO/sh of $1.00 vs consensus at $0.99, which included a 6c revenue reduction from transitioning one co-working and two retail tenants to a cash basis. Cash ssNOI increased 14.9% YoY (+0.2% GAAP), driven by revenue growth of 9.2% and expense growth of -2.3%.

During 1Q20, KRC delivered three projects, which are now in the tenant improvement phase, consisting of the 635ksf 333 Dexter project in Seattle, WA (100% leased), the 355ksf Netflix // On Vine project in Hollywood, CA (100% leased to Netflix), and the 285ksf One Paseo Office project in Del Mar, CA (91% leased).

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 $64.40 yesterday.



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