# Kilroy Realty Corporation (KRC)

> Source: Nexqual · https://nexqual.com/KRC · data as of 2026-10-22 20:03 UTC · cite as "Nexqual, Kilroy Realty Corporation (KRC), nexqual.com/KRC" · informational, not investment advice.

**Price:** USD 35.96 (+4.44% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 34.43 · day 34.21–36.22 · 52w 27.36–43.58 · market cap $4.22B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1.09B, net income $189M (17.3% margin), free cash flow $377M (SEC filings).
- Valuation: P/E 22.3x (avg 18.3x at the last 3 fiscal year-ends).
- 1 of 80 tracked superinvestors hold KRC (13F, Q2 2026): 0 new, 0 added, 0 reduced, 1 unchanged.
- Analysts: Hold (mean 2.71 on a 1–5 scale) (17 analysts), mean target USD 39.57 (range 31–50).
- Total return with dividends: 1Y -5.5% vs S&P 500 +14.9%; 5Y -31.0% vs S&P 500 +80.3%.
- Next earnings: 2026-10-22, EPS estimate USD 0.1, revenue estimate $269M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $955M | $1.10B | $1.13B | $1.14B | $1.11B | $1.09B |
| Net income | $659M | $259M | $238M | $233M | $303M | $189M |
| EPS (diluted) | $5.36 | $1.97 | $1.80 | $1.77 | $2.32 | — |
| Free cash flow | $396M | $499M | $505M | $441M | $450M | $377M |
| Net margin | 69.0% | 23.7% | 21.1% | 20.5% | 27.2% | 17.3% |
| Revenue growth | +6.3% | +14.9% | +3.0% | +0.5% | -2.0% | — |
| Cash + short-term investments | $414M | $347M | $510M | $166M | $179M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 22.3x · P/S 3.9x · P/FCF 11.2x · P/B 0.8x · FCF yield 8.92% · Earnings yield 4.49% · Dividend yield (paid, TTM) 6.08%
P/E at fiscal year-ends: Dec 2025 14.7x, Dec 2024 20.5x, Dec 2023 19.6x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold KRC. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Howard Marks | Oaktree Capital | 1.83% | $69.3M | Unchanged |

## Analysts
Consensus Hold (mean 2.71 on a 1–5 scale), 17 analysts; mean target USD 39.57 (low 31, high 50).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-21 | Evercore ISI Group | Target lowered | Outperform | $45 → $44 |
| 2026-09-17 | Scotiabank | Target lowered | Sector Perform | $41 → $39 |
| 2026-09-01 | Wells Fargo | Target raised | Equal-Weight | $33 → $38 |
| 2026-07-30 | Citigroup | Target raised | Neutral | $34 → $40 |
| 2026-07-30 | Goldman Sachs | Target raised | Sell | $28 → $31 |
| 2026-07-28 | Evercore ISI Group | Target raised | Outperform | $43 → $45 |
| 2026-07-21 | Scotiabank | Target raised | Sector Perform | $38 → $41 |
| 2026-07-21 | JP Morgan | Target lowered | Neutral | $40 → $39 |
| 2026-07-21 | Barclays | Target raised | Equal-Weight | $31 → $38 |
| 2026-07-21 | Mizuho | Target raised | Underperform | $29 → $34 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -5.5% | -31.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -5.5% | -7.1% |
| Volatility (annualized) | 28.7% | 34.6% |
| Max drawdown | -34.7% (Nov 2025→Mar 2026) | -63.7% (Mar 2022→May 2023) |

## Peers (REIT - Office)
CDP (COPT Defense Properties) USD 33.83 +2.24% · CUZ (Cousins Properties Incorporated) USD 28.67 +3.39% · SLG (SL Green Realty Corp) USD 49.19 +5.38% · HIW (Highwoods Properties, Inc.) USD 30.47 +4.24% · VNO (Vornado Realty Trust) USD 34.34 +4.41% · ARE (Alexandria Real Estate Equities) USD 43.33 +2.53%

## More
Full page: https://nexqual.com/KRC · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Company outlook (8-K filed 2026-10-22)

- "The Company is updating Nareit-defined FFO per share guidance for the full year 2026 to $3.55 to $3.59 per diluted share, from the previous range of $3.49 to $3.63."
- "The table below reflects key assumptions for 2026 guidance."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $0.10 | $0.00 | — | $269.1M | 1 |
| Next quarter (ends 2027-03-31) | $0.08 | $0.00 | — | $268.7M | 1 |
| Current fiscal year (ends 2026-12-31) | $0.26 | $0.70 | -62.9% | $1.09B | 1 |
| Next fiscal year (ends 2027-12-31) | $0.34 | $0.50 | -33.0% | $1.09B | 2 |