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Kilroy Realty Corp(KRC)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
3-STAR RATING
PASS
LAST CLOSE
$33.92
09/28/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Upturn Advisory & Investor View for KRC

09/28/2026: KRC (3-star) is currently NOT-A-BUY. Pass it for now.

Kilroy Realty Corp is a publicly traded real estate investment trust that develops and manages office and life science properties primarily on the US West Coast. The company is known for its high-quality, sustainable portfolio and a strategic focus on the resilient life science sector. While this offers growth potential, the business faces significant risks from hybrid work trends and macro-driven volatility in commercial office demand. Investors should weigh its steady dividend profile against the execution challenges associated with high interest rates and office sector saturation. It is generally suited for income-focused or value-oriented investors who monitor occupancy trends and sector-specific demand shifts closely.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorMixed fitGrowth is constrained by the current challenges in the broader office real estate market.
Momentum investorWeak fitMomentum is limited as the sector navigates structural headwinds and volatility.
Value investorStrong fitCurrent valuations may present an entry point for investors seeking long-term asset value in a beaten-down sector.
Dividend investorStrong fit while signal remains positiveThe company provides consistent income potential through its REIT structure.
Low-risk investorWeak fitVolatility in commercial real estate and interest rate sensitivity pose risks not ideal for low-risk profiles.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityMedium / highThe stock is sensitive to interest rate changes and shifts in office occupancy trends.
Valuation riskMediumMarket sentiment regarding office demand significantly influences valuation multiples.
Competition risk (office/life science)Medium / highIntense competition for credit-worthy tenants impacts rental growth and occupancy.
Business qualityStrongThe company is known for high-quality, modern, and sustainable asset management.
Dividend incomeMediumDividends are subject to board approval and the company's ability to maintain sufficient cash flow.
Execution riskMediumSuccessfully leasing development projects remains critical to long-term performance.

Price Behavior

Rolling Over
PRICE PATH

Rolling Over

The price momentum is slowing down and beginning to turn downward.

Moderately Choppy
PRICE STABILITY

Moderately Choppy

The stock has experienced noticeable price swings while retaining some directional structure.

Analysis of Past Performance

Type Stock
Historic Profit 67.95%
Avg. Invested days 49
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 4.0
Stock Returns Performance Upturn Returns Performance icon 3.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/28/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
KRC receives a 3-star rating, supported by solid analyst coverage. The rating is constrained by weak price momentum.

Company Fundamentals

★★★★★
KRC has moderate overall fundamentals (3 stars), with moderate financial health, moderate growth momentum, and solid ownership. In FY2025 versus FY2024, solid earnings growth (+30.9%) and strong profitability (net margin 24.8%) are partially offset by weak cash generation (FCF margin -10.9%), slightly negative revenue growth (-2.0%), very low insider ownership of 0.90%.

Financial Health Rating

★★★★★
KRC's financial health is supported by solid profitability, including gross margin of 67.0% and operating margin of 28.4%. Liquidity is soft (2 stars), which helps explain the 3-star overall score.

Growth Momentum Score

★★★★★
Earnings growth is KRC's strongest growth driver at +30.9% FY2025 versus FY2024 (solid, 4 stars). By comparison, while revenue growth (-2.0%, slightly negative) and free-cash-flow growth (-402.8%, negative) hold the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 123.6% and approximately 89.2% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership is only 0.90%, which materially reduces the ownership score.

Top 5 Institutional Investors

BlackRock Inc 12.94%
D1 Capital Partners L.P. 9.03%
Vanguard Portfolio Management, LLC 8.49%
State Street Corp 5.38%
Cohen & Steers Inc 4.96%

Unit Economics (Per $1K Revenue)

★★★★★
KRC generates approximately $670 of gross profit, $284 of operating income, and $-109 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Weak margins and weak cash conversion support a 3-star rating, while capital efficiency is weak.

Economic Dimensions

★★★★★
Effective Tax Rate: 0.00%

Quantitative Style Profile

★★★★★
KRC has a liquid profile. Weak momentum is the primary drawback.

Style Classification

Quality Focused

Value-OrientedSmall / Mid Cap RiskShort Squeeze RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Mid-Cap Stock
Market Capitalization 4.02B USD
Price to earnings Ratio 23.94
1Y Target Price 40.14
Price to earnings Ratio 23.94
1Y Target Price 40.14
Volume (30-day avg) 1.3M shares
Beta 1.14
52 Weeks Range 26.89 - 41.55
Updated Date 09/27/2026
52 Weeks Range 26.89 - 41.55
Updated Date 09/27/2026
Dividends yield (FY) 6.34%
Basic EPS (TTM) 1.43

How Company Makes Money

Business areaWhat it includesRetail investor read
Rental RevenueLease payments from office and life science properties.The company earns money primarily by collecting rent from companies leasing their buildings.
Development/DispositionGains from developing properties and selling select assets.They occasionally profit by building new properties or selling existing ones when conditions are favorable.

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

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Valuation

Trailing PE 23.94
Forward PE 99.01
Enterprise Value 8.42B
Price to Sales(TTM) 3.67
Enterprise Value 8.42B
Price to Sales(TTM) 3.67
Enterprise Value to Revenue 7.69
Enterprise Value to EBITDA 11.97
Shares Outstanding 116.31M
Shares Floating 103.77M
Shares Outstanding 116.31M
Shares Floating 103.77M
Percent Insiders 0.9
Percent Institutions 123.65

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Kilroy Realty Corp

Exchange NYSE
Headquarters Los Angeles, CA, United States
IPO Launch date 1997-01-28
CEO & Director Ms. Angela M. Aman
Sector Real Estate
Industry REIT - Office
Full time employees 241
Full time employees 241

Kilroy Realty Corporation is a leading U.S. landlord and developer, with operations in the San Francisco Bay Area, Los Angeles, Seattle, San Diego, and Austin. The Company has earned global recognition for sustainability, building operations, innovation, and design. As a pioneer and innovator in the creation of a more sustainable real estate industry, the Company's approach to modern business environments helps drive creativity and productivity for some of the world's leading technology, media, life science, and professional services companies. The Company is a publicly traded real estate investment trust (REIT) and member of the S&P MidCap 400 Index with more than seven decades of experience managing, developing, and acquiring office, life science, and mixed-use projects. As of June 30, 2026, Kilroy's stabilized portfolio totaled approximately 17.1 million square feet of primarily office and life science space that was 77.0% occupied and 81.5% leased. The Company also has 608 residential units in San Diego, with a quarterly average occupancy of 95.6%. Kilroy Realty Corporation was incorporated in 1947 in Maryland. Kilroy Realty Corporation is based in Los Angeles, California.