Kilroy Realty Corp. (KRC) Tops Q2 EPS by 2c

After the close, Kilroy Realty Corp. (NYSE: KRC) reported Q2 EPS of $0.72, $0.02 better than the analyst estimate of $0.70. Revenue for the quarter came in at $129.2 million versus the consensus estimate of $117.1 million.

Other Highlights:

• Stabilized portfolio was 93.6% occupied and 95.7% leased at June 30, 2014
• Signed new or renewing leases on 429,331 square feet of space in the stabilized portfolio
• Acquired a fully entitled, 3.1 acre land parcel in the Mission Bay submarket of San Francisco for $95.0 million with plans to develop an office project totaling approximately 680,000 gross square feet
• Completed the sale of two vacant office buildings in the University Towne Center submarket of San Diego and a land parcel in the Rancho Bernardo submarket of San Diego for combined gross proceeds of $62.6 million
• Increased the size of the company’s unsecured credit facility to $600 million. Additionally, lowered pricing and extended the term to July 2019 on both the credit facility and the company’s $150 million term loan

For earnings history and earnings-related data on Kilroy Realty Corp. (KRC) click here.

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