Loading...
•
Sep 30, 2024
Kilroy Realty Q3 2024 Earnings Report
Kilroy Realty reported strong financial results, demonstrating solid leasing activity and strategic capital allocation.
Key Takeaways
Kilroy Realty Corporation reported a revenue increase of 2.2% to $289.9 million for Q3 2024 compared to Q3 2023. Net income available to common stockholders was $0.44 per diluted share. The stabilized portfolio was 84.3% occupied and 85.8% leased.
Revenues increased by 2.2% year-over-year.
Net income available to common stockholders was $0.44 per diluted share.
Funds from operations (FFO) increased by 4.5% year-over-year.
Stabilized portfolio was 84.3% occupied and 85.8% leased.
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.comAustin Revenue
CapyFin.com Forward Guidance
The Company is providing an updated Nareit-defined FFO per diluted share guidance for the full year 2024 of $4.38 to $4.44 per share, with a midpoint of $4.41 per share.
Positive Outlook
- Low End Net income available to common stockholders per share - diluted $1.61
- High End Net income available to common stockholders per share - diluted $1.66
- Low End Funds From Operations $526,650
- High End Funds From Operations $533,750
- High End Funds From Operations per common share/unit – diluted (3)$4.44
Challenges Ahead
- Change in same store cash NOI (2)(3)(1.5%) to (2.0%)
- General and administrative expenses$74 million to $76 million
- Total development spending (4)$250 million to $275 million
- Change in same store cash NOI (2)
- Total development spending (4)
Revenue & Expenses
Visualization of income flow from segment revenue to net income