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Investing in office REITs has not been a pleasant experience over the past few months and the year of 2022 - and there are good reasons for this. The market is seeing risk where risk does exist, but it's also overinterpreting some risks - as the market always does.
The West Coast office landlord had a pretty good year in 2022, but it looks like 2023 might be a tough one.
Kilroy Realty is a high quality office REIT with a West Coast focus. It's positioning towards the emerging life science category and is seeing strong operating fundamentals.
Kilroy Realty is one of the highest quality operators of office, life science, and mixed-use properties. Compared to peers, Kilroy operates on higher margins, has a stronger dividend track record, and owns a newer class of properties, which is a demand premium in the current environment.
Kilroy Realty Corporation (NYSE:KRC ) Q4 2022 Earnings Conference Call February 2, 2023 1:00 PM ET Company Participants Nick Yulico - Scotiabank Bill Hutcheson - SVP, IR and Capital Markets John Kilroy - Chairman and CEO Tyler Rose - President Justin Smart - President and current President of Development and Construction Service Rob Paratte - EVP, Leasing and Business Development Eliott Trencher - CIO and CFO Conference Call Participants Camille Bonnel - Bank of America Blaine Heck - Wells Fargo Michael Griffin - Citi Steve Sakwa - Evercore Tom Catherwood - BTIG Dave Rogers - Baird Omotayo Okusanya - Credit Suisse Dylan Burzinski - Green Street Peter Abramowitz - Jefferies Jamie Feldman - Wells Fargo Derek Johnston - Deutsche Bank Operator Good afternoon. Thank you for attending today's KRC 4Q, 2022 Earnings Conference Call.
Kilroy Realty (KRC) delivered FFO and revenue surprises of 1.74% and 2.58%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
Everyone loves a bargain, but when a bargain looks too good to be true, people shy away. Don't do that with so-called deep-value stocks, which look like real deals right now.
LOS ANGELES--( BUSINESS WIRE )--Kilroy Realty Corporation (NYSE: KRC, "Kilroy") announced today it will release fourth quarter 2022 financial results after the market closes on Wednesday, February 1, 2023. The company will hold a conference call to discuss the results at 10:00 a.m. PT / 1:00 p.m. ET on Thursday, February 2, 2023.
Shares of Kilroy Realty are trading at a multi-year low valuation. We believe the biggest risk for Kilroy is currently the work-from-home trend, but a recession could further complicate things.
Who's going into the office these days? Well, I'm sitting here typing this article from my office.