Kilroy Realty Corp. - KRC STOCK NEWS

John Kilroy, CEO of Kilroy Realty Corporation (NYSE: KRC), will retire at the end of 2023 after nearly 30 years in the role. The company's board is initiating a search for his successor, aiming to have the new CEO start on January 1, 2024.

Under Kilroy’s leadership, the company expanded its portfolio to 16 million square feet, focusing on sustainability and innovation. Kilroy has achieved carbon neutral operations since 2020 and is recognized for its environmental initiatives. The company remains committed to its strategy focusing on premium real estate, disciplined capital allocation, and maintaining a strong balance sheet to ensure shareholder value.

Kilroy Realty Corporation (NYSE: KRC) announced its participation in Citi’s 2023 Global Property CEO Conference on March 7, 2023. CEO John Kilroy and senior management will engage in a live roundtable discussion from 10:35 a.m. to 11:10 a.m. Eastern Time. Access the live webcast at Kilroy's Investor Events. An audio replay will be available one hour post-event until March 7, 2024. Kilroy Realty, a leader in sustainability and innovative real estate, boasts an impressive portfolio of over 16.2 million square feet and is recognized for its commitment to corporate social responsibility.

Kilroy Realty Corporation (NYSE: KRC) has declared a quarterly cash dividend of $0.54 per common share, payable on April 12, 2023, to stockholders on record as of March 31, 2023. This dividend represents an annual rate of $2.16 per share. The company is recognized for its sustainability initiatives, maintaining a 91.6% occupancy rate within its portfolio of 16.2 million square feet and has two significant life science redevelopment projects worth $80 million underway. Kilroy's commitment to sustainability is reflected in its operations, achieving carbon neutrality since 2020.

Kilroy Realty Corporation (NYSE: KRC) reported a record annual revenue exceeding $1 billion for 2022. In Q4, revenues increased by 8.9% to $284.3 million, with net income rising to $0.45 per diluted share, marking a 12.5% growth. Funds from operations (FFO) were $139.9 million, or $1.17 per share, up 11.4%. Leasing activity was robust, achieving a 91.6% occupancy and a 92.9% lease rate. The company secured $1.7 billion in liquidity, including a $500 million term loan. A quarterly dividend of $0.54 per share was declared. 2023 guidance indicates an FFO range of $4.40 to $4.60 per share, projecting continued growth despite expected lower same-store cash NOI growth.

Kilroy Realty Corporation (NYSE: KRC) announced the tax treatment for its 2022 dividend distributions. Shareholders will receive a total distribution of $2.12 per share for the tax year, classified as follows: $1.85 as taxable ordinary dividends and $0.27 as qualified dividends. The distribution record date was December 30, 2022, with a payable date of January 11, 2023. Investors are advised to consult tax advisors for specific tax impacts. Kilroy continues to operate as a major sustainable real estate investment trust (REIT) and boasts a diverse portfolio across major U.S. locations.

Kilroy Realty Corporation (NYSE: KRC) will release its fourth quarter 2022 financial results after the market closes on February 1, 2023. A conference call to discuss these results is scheduled for February 2, 2023, at 10:00 a.m. PT. Investors can participate via telephone or listen online through Kilroy's Investor Relations website. As of September 30, 2022, Kilroy's stabilized portfolio covers approximately 16.2 million square feet with 90.8% occupancy. Additionally, the company has ongoing projects estimated at $1.7 billion, underscoring its active development strategy.

Kilroy Realty Corporation (NYSE: KRC) has declared a quarterly cash dividend of $0.54 per share, payable on January 11, 2023, to stockholders of record on December 30, 2022. This dividend translates to an annual rate of $2.16 per share. The company, recognized for sustainability and innovative developments across major U.S. markets, had a stabilized portfolio of approximately 16.2 million square feet as of September 30, 2022, with a 90.8% occupancy rate.

Kilroy Realty Corporation (NYSE: KRC) announced an invitation-only Investor Event on November 14, 2022, at Kilroy Oyster Point, South San Francisco. The event will be livestreamed from 12:00 p.m. to 2:00 p.m. Pacific Time, accessible on their website, with a replay available afterward. As of September 30, 2022, Kilroy's portfolio included approximately 16.2 million square feet of office and life science space, with a 90.8% occupancy rate, showcasing their strong position in the real estate market.

Kilroy Realty Corporation (NYSE: KRC) reported strong financial results for Q3 2022, with revenues increasing by 19% to $276.0 million compared to $232.3 million in Q3 2021. Net income available to common stockholders rose to $79.8 million, or $0.68 per diluted share, up from $47.0 million, or $0.40 per diluted share last year. Funds from operations (FFO) reached $139.7 million, a 20% increase. The company also raised its quarterly dividend by 3.8% to $0.54 per share. The updated guidance projects FFO per diluted share for the full year 2022 between $4.62 and $4.68.