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Kilroy 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 business services companies. The Company is a publicly traded real estate investment trust 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 September 30, 2025, Kilroy’s stabilized portfolio totaled approximately 16.8 million square feet of primarily office and life science space that was 81.0% occupied and 83.3% leased. The Company also had approximately 1,000 residential units in Hollywood and San Diego, which had a quarterly average occupancy of 93.2%. In addition, the Company had one development project in the tenant improvement phase totaling approximately 872,000 square feet with a total estimated investment of $1.0 billion.
Portfolio Strength | Kilroy Realty's high-quality commercial properties in key West Coast markets provide resilience amid market uncertainties and changing tenant preferences |
Valuation Disconnect | Explore the significant valuation gap between KRC and its peers, with the stock trading at 8.7x estimated 2026 FFO compared to 10x-18x for competitors |
Leasing Momentum | Delve into KRC's recent leasing activity surge, marking the highest volume since Q4 2019, and its potential impact on future occupancy and earnings |
Market Challenges | Analysts project an average price target of $42.60, reflecting a cautious outlook amidst office market headwinds and recent credit downgrades |
Metrics to compare | KRC | Sector Sector - Average of metrics from a broad group of related Real Estate sector companies | Relationship RelationshipKRCPeersSector | |
|---|---|---|---|---|
P/E Ratio | 12.9x | 10.1x | 9.3x | |
PEG Ratio | 0.20 | 0.08 | 0.01 | |
Price/Book | 0.8x | 1.2x | 0.9x | |
Price / LTM Sales | 3.7x | 4.1x | 3.9x | |
Upside (Analyst Target) | 23.4% | 5.5% | 13.2% | |
Fair Value Upside | Unlock | 11.6% | 0.6% | Unlock |