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Sep 30, 2023
Kilroy Realty Q3 2023 Earnings Report
Kilroy Realty's performance remained steady, marked by revenue growth and strategic leasing activities.
Key Takeaways
Kilroy Realty Corporation reported a revenue increase of 2.8% to $283.6 million compared to the prior year. The stabilized portfolio was 86.2% occupied and 87.5% leased at quarter-end. Net income available to common stockholders per diluted share was $0.45 and FFO per diluted share was $1.12.
Revenues increased by 2.8% year-over-year, reaching $283.6 million.
The stabilized portfolio maintained a strong occupancy rate of 86.2% and was 87.5% leased.
Net income available to common stockholders was $0.45 per diluted share.
Funds From Operations (FFO) amounted to $1.12 per diluted share.
Kilroy Realty
Kilroy Realty
Kilroy Realty Revenue by Geographic Location
Revenue by Geographic Location
Los Angeles Revenue
CapyFin.comSan Diego Revenue
CapyFin.comSan Francisco Bay Area Revenue
CapyFin.comSeattle Revenue
CapyFin.com Forward Guidance
The Company is providing an updated guidance range of Nareit-defined FFO per diluted share for its fiscal year 2023 of $4.55 to $4.60 per share with a midpoint of $4.58 per share.
Positive Outlook
- Same Store Cash NOI growth 2.75% to 3.25%
- Average occupancy 87.00% to 87.50%
- Total development spending $400 million to $450 million
- Net income available to common stockholders per share - diluted $1.75 to $1.80
- Funds From Operations $542,700 to $548,900
Challenges Ahead
- Market conditions
- Rental rates
- Occupancy levels
- Earnings impact of the events referenced in this report.
- Future disposition activity
Revenue & Expenses
Visualization of income flow from segment revenue to net income