Kilroy Realty Corporation reports news on a REIT platform that owns, develops and operates primarily office and life science real estate in the San Francisco Bay Area, Los Angeles, Seattle, San Diego and Austin. Company updates commonly cover leasing activity, occupancy trends, same-property performance, development and redevelopment projects, acquisitions, dispositions, debt repayment, share repurchases and capital allocation across its portfolio.
Kilroy also issues recurring announcements on quarterly financial results, earnings calls, cash dividends and the tax treatment of distributions. Other company developments include board and committee changes, investor conference participation, sustainability practices and operating updates for its residential assets in Hollywood and San Diego.
Kilroy Realty Corporation (NYSE: KRC) announced a quarterly cash dividend of $0.52 per common share, set for payment on July 13, 2022, to stockholders of record by June 30, 2022. This dividend translates to an annual rate of $2.08 per share. Kilroy Realty operates in major U.S. markets, maintaining a portfolio of approximately 15.2 million square feet of office and life science space, with a 91.3% occupancy rate as of March 31, 2022. The company, recognized for sustainability efforts, is a member of the S&P MidCap 400 Index.
Kilroy Realty Corporation (NYSE: KRC) reported its Q1 2022 financial results with net income of $53.1 million, or $0.45 per share. Funds from operations (FFO) were $137.8 million, or $1.16 per share, a year-over-year growth from $116.2 million. The company’s revenue reached $265.5 million, with a stabilized portfolio occupancy of 91.3%. Notable developments include new leases totaling 183,000 square feet and the acquisition of land for $40 million in Austin for Class A office development. KRC updated its 2022 FFO guidance to $4.44-$4.58 per share.
Kilroy Realty Corporation (NYSE: KRC) will release its first quarter 2022 financial results after market close on April 27, 2022. A conference call is scheduled for April 28, 2022, at 10:00 a.m. PT to discuss the results, accessible by dialing (844) 200-6205. As of December 31, 2021, Kilroy's stabilized portfolio totaled approximately 15.5 million square feet, with 91.9% occupancy and 93.9% leased. The company emphasizes sustainability, with 73% of its portfolio LEED certified.
Kilroy Realty Corporation (NYSE: KRC) has expanded its Austin, TX portfolio by acquiring a 2.9-acre development site for $40 million. The site is entitled for approximately 493,000 square feet of Class A office space and is strategically located near key amenities. Following the acquisition, Kilroy's total holdings in Austin will reach about 1.2 million square feet, with construction expected to start in mid-2022 and completion in 2024. The company also appointed Fernando Urrutia as Senior Vice President, Leasing for Austin, enhancing its regional growth prospects.
Kilroy Realty Corporation (NYSE: KRC) announced participation in Citi's 2022 Global Property CEO Conference on March 7, 2022, with a live webcast from 10:30 a.m. to 11:05 a.m. ET. CEO John Kilroy and senior management will engage in a roundtable discussion. Access to the webcast is available at Kilroy Investor Events. An audio replay will be available for one year post-event. As of December 31, 2021, Kilroy’s portfolio included approximately 15.5 million square feet of office and life science space, with a 91.9% occupancy rate.
Kilroy Realty Corporation (NYSE: KRC) has announced an amended lease agreement with Nuro to expand its lease at 1290-1300 Terra Bella Avenue, Mountain View, CA. The new lease covers approximately 114,000 square feet, doubling Nuro's prior occupancy of 56,000 square feet since 2017. This update marks the property’s full leasing status. The location benefits from proximity to major tech firms, including Google and Microsoft, in one of Silicon Valley's prime office submarkets.
Kilroy Realty Corporation (NYSE: KRC) has announced the resignation of CFO Michelle Ngo, effective February 25, 2022, to join a private real estate firm. Eliott Trencher, currently the Chief Investment Officer, will serve as the interim CFO during the search for a permanent replacement. The company appreciates Ngo's 15 years of service and emphasizes its strong position in the real estate investment trust (REIT) sector.
Kilroy Realty Corporation (NYSE: KRC) announced a quarterly cash dividend of $0.52 per common share, payable on April 13, 2022, for stockholders of record by March 31, 2022. This dividend translates to an annual rate of $2.08 per share. Kilroy, a leading U.S. landlord and developer, operates primarily in San Diego, Greater Los Angeles, San Francisco, Pacific Northwest, and Austin. The company’s portfolio was 91.9% occupied as of December 31, 2021.
Kilroy Realty Corporation (NYSE: KRC) reported Q4 2021 financial results with net income of $47.6 million ($0.40 per share) and FFO of $125.5 million ($1.05 per share), which included an $0.11 charge for early debt extinguishment. Revenue reached $261.1 million with a stabilization rate of 91.9%. The company executed 312,000 square feet of leases, with rental rates rising approximately 20.2% for GAAP rents. Kilroy completed the sale of a property for $37 million and raised $450 million in green bonds. Guidance for 2022 FFO is set between $4.35 and $4.55 per share.
Kilroy Realty Corporation (NYSE: KRC) announced the appointment of Bill Hutcheson as Senior Vice President of Investor Relations & Capital Markets, effective January 24, 2022. With nearly 30 years on Wall Street, Mr. Hutcheson previously worked at Morgan Stanley and Citi, focusing on real estate investor relations. CEO John Kilroy expressed confidence that Mr. Hutcheson's expertise will enhance the company’s growth trajectory. Kilroy Realty operates across key U.S. markets, managing over 15 million square feet of office and life science properties, with a strong commitment to sustainability.