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KRC 
Kilroy Realty Corp (KRC)
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Upturn Advisory Summary
01/09/2026: KRC (3-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Moderate Performance
These Stocks/ETFs, based on Upturn Advisory, typically align with the market average, offering steady but unremarkable returns.
Number of Analysts
17 Analysts rated it
Moderately tracked stock, growing coverage, gaining market and investor attention.
1 Year Target Price $42.67
1 Year Target Price $42.67
| 2 | Strong Buy |
| 2 | Buy |
| 12 | Hold |
| 1 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 46.23% | Avg. Invested days 40 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  3.0 |
| Profits based on simulation | Last Close 01/09/2026 |
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 4.76B USD | Price to earnings Ratio 14.69 | 1Y Target Price 42.67 |
Price to earnings Ratio 14.69 | 1Y Target Price 42.67 | ||
Volume (30-day avg) 17 | Beta 1.11 | 52 Weeks Range 25.94 - 43.83 | Updated Date 01/8/2026 |
52 Weeks Range 25.94 - 43.83 | Updated Date 01/8/2026 | ||
Dividends yield (FY) 5.52% | Basic EPS (TTM) 2.71 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 28.68% | Operating Margin (TTM) 28.86% |
Management Effectiveness
Return on Assets (TTM) 1.87% | Return on Equity (TTM) 6.21% |
Valuation
Trailing PE 14.69 | Forward PE 68.49 | Enterprise Value 8937108948 | Price to Sales(TTM) 4.22 |
Enterprise Value 8937108948 | Price to Sales(TTM) 4.22 | ||
Enterprise Value to Revenue 7.93 | Enterprise Value to EBITDA 10.76 | Shares Outstanding 118305702 | Shares Floating 99128348 |
Shares Outstanding 118305702 | Shares Floating 99128348 | ||
Percent Insiders 0.99 | Percent Institutions 131.98 |
Upturn AI SWOT
Kilroy Realty Corp
Company Overview
History and Background
Kilroy Realty Corporation (KRC) was founded in 1996. It is a publicly traded real estate investment trust (REIT) that focuses on acquiring, developing, and managing commercial real estate properties, primarily office buildings and life science facilities. A significant milestone was its IPO in 1997. Over the years, KRC has strategically expanded its portfolio, particularly in high-growth West Coast markets.
Core Business Areas
- Office Properties: Development, ownership, and leasing of modern, Class A office buildings, often in transit-oriented urban locations.
- Life Science Properties: Development and management of specialized facilities catering to the biotechnology, pharmaceutical, and medical research industries.
- Mixed-Use Development: Creation of integrated communities that combine residential, retail, and office spaces.
Leadership and Structure
Kilroy Realty Corp is led by a management team with extensive experience in real estate development and investment. Key leadership roles include the Chief Executive Officer, Chief Financial Officer, and various senior vice presidents overseeing development, leasing, and operations. The company operates through a corporate structure with various subsidiaries managing its real estate assets.
Top Products and Market Share
Key Offerings
- Class A Office Space: High-quality, well-located office buildings designed to attract and retain top-tier tenants in tech and other knowledge-based industries. Competitors include numerous REITs and private real estate developers specializing in office properties. Market share data for specific building classes is fragmented and difficult to isolate for a single company.
- Life Science & Biotech Facilities: Purpose-built laboratory and office spaces tailored for the demanding requirements of life science companies. Competitors include Biomilitarized, Alexandria Real Estate Equities (ARE), and private developers. Market share is highly concentrated in key life science hubs.
Market Dynamics
Industry Overview
The commercial real estate industry, particularly office and life science sectors, is influenced by economic conditions, interest rates, technological advancements, and evolving work trends. The life science sector is experiencing robust growth driven by innovation and healthcare demand, while the office sector faces headwinds from remote work trends but benefits from demand for high-quality, amenity-rich spaces.
Positioning
Kilroy Realty Corp is well-positioned in its core West Coast markets, which are hubs for innovation and life sciences. Its strategy of developing modern, sustainable, and amenity-rich properties in prime locations gives it a competitive advantage in attracting and retaining high-quality tenants. The company's focus on the growing life science sector diversifies its revenue streams.
Total Addressable Market (TAM)
The TAM for office and life science real estate is substantial, encompassing trillions of dollars globally. Kilroy Realty Corp's TAM is primarily focused on major West Coast metropolitan areas. The company is a significant player within its targeted submarkets, aiming to capture a considerable share of institutional-quality real estate demand.
Upturn SWOT Analysis
Strengths
- Strong portfolio of high-quality, well-located assets in growth markets.
- Deep expertise in developing and managing life science facilities.
- Experienced management team with a proven track record.
- Strong balance sheet and access to capital.
- Focus on sustainability and ESG initiatives, appealing to modern tenants.
Weaknesses
- Geographic concentration in West Coast markets, making it susceptible to regional economic downturns.
- Exposure to the cyclical nature of the real estate market.
- Reliance on a relatively small number of large tenants for significant portions of revenue.
- High interest rate environment can impact borrowing costs and property valuations.
Opportunities
- Continued growth in the life science and biotechnology sectors.
- Acquisition of well-located, under-performing assets for redevelopment.
- Expansion into new, high-growth markets.
- Increased demand for flexible and sustainable office spaces.
- Potential for strategic partnerships and joint ventures.
Threats
- Economic recession impacting tenant demand and rental growth.
- Rising interest rates increasing operating costs and financing expenses.
- Increased competition from other REITs and private developers.
- Changes in tenant preferences and workplace dynamics (e.g., continued remote work).
- Regulatory changes or environmental challenges impacting property development and operations.
Competitors and Market Share
Key Competitors
- Alexandria Real Estate Equities, Inc. (ARE)
- Boston Properties, Inc. (BXP)
- Kilroy Realty Corp (KRC)
- Vornado Realty Trust (VNO)
- Prologis, Inc. (PLD)
Competitive Landscape
Kilroy Realty Corp competes with other large REITs and private developers for prime real estate acquisitions and tenant leases. Its competitive advantages lie in its strong presence in West Coast innovation hubs and its specialized expertise in life science facilities. However, competitors like Alexandria Real Estate Equities are also deeply entrenched in the life science sector, posing a significant challenge.
Major Acquisitions
Notable acquisition details are not readily available without recent financial reports. Typically, REITs engage in property-level acquisitions or portfolio acquisitions. A hypothetical example could be:
- Year: 2023
- Acquisition Price (USD millions): 300
- Strategic Rationale: Acquisition of a strategically located life science campus to expand its presence in a key biotechnology cluster, leveraging existing tenant relationships and development expertise.
Growth Trajectory and Initiatives
Historical Growth: Historically, KRC has demonstrated growth through strategic acquisitions, development of new properties, and leasing of existing space, particularly in its key West Coast markets. Growth in FFO and NOI has been a primary indicator of success.
Future Projections: Future growth projections are typically guided by analyst estimates, which consider factors like projected rental rate increases, occupancy levels, development pipeline progress, and potential acquisitions. The company's investment in life science properties is expected to be a key driver of future growth.
Recent Initiatives: Recent initiatives likely include the continued development of its life science pipeline, strategic leasing of its office portfolio, potential dispositions of non-core assets, and efforts to enhance property sustainability and tenant experience.
Summary
Kilroy Realty Corp is a well-established REIT with a strong focus on prime West Coast office and life science properties. Its strategic positioning in high-growth markets and specialization in the thriving life science sector are significant strengths. However, the company must navigate the ongoing evolution of the office market and the general economic sensitivities of real estate, while managing competition effectively to maintain its growth trajectory.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Company Investor Relations website
- SEC Filings (10-K, 10-Q)
- Financial News Outlets (e.g., Bloomberg, Reuters)
- Real Estate Industry Analysis Reports
Disclaimers:
This JSON output is based on publicly available information and general industry knowledge as of the last update. Financial data and market share figures are estimates and may not be perfectly accurate or up-to-date. This information is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Kilroy Realty Corp
Exchange NYSE | Headquaters 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 229 | Website https://www.kilroyrealty.com |
Full time employees 229 | Website https://www.kilroyrealty.com | ||
Kilroy is a leading U.S. landlord and developer, with operations in San Diego, Los Angeles, the San Francisco Bay Area, Seattle, 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, entertainment, life science, and business 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 developing, acquiring, and managing office, life science, and mixed-use projects. As of June 30, 2025, Kilroy's stabilized portfolio totaled approximately 16.4 million square feet of primarily office and life science space that was 80.8% occupied and 83.5% leased. The Company also had approximately 1,000 residential units in Hollywood and San Diego, which had a quarterly average occupancy of 93.8%. In addition, the Company had one development project in the tenant improvement phase totaling approximately 875,000 square feet with a total estimated investment of $1.0 billion and two life science redevelopment projects in the tenant improvement phase totaling approximately 100,000 square feet with total estimated redevelopment costs of $85.0 million.
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