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Dec 31, 2023
Kilroy Realty Q4 2023 Earnings Report
Kilroy Realty's Q4 2023 financial performance reflected a mix of challenges and strategic advancements.
Key Takeaways
Kilroy Realty Corporation reported Q4 2023 revenues of $269.0 million and net income available to common stockholders of $47.3 million, or $0.40 per diluted share. FFO per diluted share was $1.08. The stabilized portfolio was 85.0% occupied and 86.4% leased at quarter-end.
Revenues reached $269.0 million.
Net income available to common stockholders per diluted share was $0.40.
FFO per diluted share amounted to $1.08.
The stabilized portfolio was 85.0% occupied and 86.4% leased at quarter-end.
Revenue by Geographic Location
Forward Guidance
The Company is providing Nareit-defined FFO per diluted share guidance for the full year 2024 of $4.10 to $4.25 per share with a midpoint of $4.18 per share.
Positive Outlook
- Net income available to common stockholders per share - diluted: $1.45 - $1.61
- Funds From Operations: $493,400 - $511,000
- FFO per common share/unit - diluted: $4.10 - $4.25
- Total development spending: $200 million to $300 million
- Weighted average common shares and units outstanding - diluted: 120,250
Challenges Ahead
- Change in same store cash NOI: (4.0%) to (6.0%)
- Average full year occupancy: 82.5% to 84.0%
- General and administrative expenses: $72 million to $80 million
- There can be no assurance that the Company’s actual results will not differ materially from these estimates.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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