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Dec 31, 2019
Kilroy Realty Q4 2019 Earnings Report
Reported strong Q4 results driven by strategic leasing and development initiatives.
Key Takeaways
Kilroy Realty Corporation reported a solid fourth quarter in 2019, marked by a 94.6% occupied and 97.0% leased stabilized portfolio, and a noteworthy same-store GAAP NOI increase of 4.8%. Strategic moves, including the acquisition of an office campus in Culver City and significant leasing activity, contributed to the positive results.
Net income available to common stockholders per share was $0.67.
FFO per share reached $1.00.
Revenues totaled $220.2 million.
Same Store GAAP NOI increased 4.8% compared to the prior year.
Forward Guidance
The Company is providing an initial guidance range of NAREIT-defined FFO per diluted share for its fiscal year 2020 of $4.01 to $4.21 per share with a midpoint of $4.11 per share.
Positive Outlook
- Dispositions of approximately $150.0 million to $300.0 million
- Same store cash net operating income growth of 6.5% to 7.5%
- Year-end occupancy of 93.0% to 94.0%
- Total development spending of approximately $500.0 million to $600.0 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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