Kilroy Realty (KRC) Rewards Shareholders With Dividend Hike

Much to the delight of its shareholders, the board of directors of Kilroy Realty Corporation (NYSE:KRC) announced a regular quarterly cash dividend of 42.5 cents per share. This reflects an increase of 13.3% from the prior payment of 37.5 cents per share. The new dividend will be paid on Jul 12 to stockholders of record on Jun 30.

Kilroy Realty owns, operates and develops office and mixed-use real estate assets. At Mar 31, 2017, stabilized portfolio of the company totaled around 14.4 million square feet of office space and 200 residential units situated in Los Angeles, Orange County, San Diego, the San Francisco Bay Area and Greater Seattle.

The latest dividend amounts to an annual rate of $1.70 per share, up from the previous annual dividend rate of $1.50 per share. The company made the last dividend payment in April. In January, a special cash dividend of $1.90 per share was awarded to its shareholders. Before this, Kilroy Realty had raised dividend by 7.1% to 37.5 cents per share in May 2016.

Shares of Kilroy Realty have underperformed the Zacks categorized REIT and Equity Trust - Other industry in the last three months. Shares of the company decreased 5.3%, whereas the industry lost 0.9%. However, in the last 30 days, its full-year 2017 funds from operations (FFO) per share estimate moved up.



Currently, Kilroy Realty carries a Zacks Rank #3 (Hold).

Investors interested in the REIT space, may consider better-ranked stocks like Easterly Government Properties, Inc. (NYSE:DEA) , Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) and DiamondRock Hospitality Company (NYSE:DRH) , each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

In the last 30 days, Easterly Government Properties’ FFO per share for second-quarter 2017 remained unchanged at 31 cents.

In the last 30 days, Gaming and Leisure Properties’ FFO per share for second-quarter 2017 increased 1.3% to 77 cents.

In the last 30 days, DiamondRock Hospitality Company’ FFO per share for second-quarter 2017 remained unchanged at 31 cents.

Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.

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Kilroy Realty Corporation (KRC): Free Stock Analysis Report

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Gaming and Leisure Properties, Inc. (GLPI): Free Stock Analysis Report

Easterly Government Properties, Inc. (DEA): Free Stock Analysis Report

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