Kilroy Realty Corp

KRC: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$59.00	Qfr	Lsvsqywx

Kilroy Earnings: California-Related Problems Remain an Overhang on Stock; Maintaining Our Fair Value

Suryansh Sharma

Aug 1, 2024

No-moat-rated Kilroy Realty reported weak second-quarter numbers, with funds from operations of $1.10 per share about 7.5% lower on a year-over-year basis. The demand for office real estate in West Coast cities like Los Angeles and San Francisco continues to remain tepid as a result of city-specific factors and a slower recovery in physical office utilization rates for tech companies compared with other sectors. While Kilroy’s high-quality portfolio has held up significantly better than the overall market, the pressure on its portfolio remains intense.

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