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Dec 31, 2024
Kilroy Realty Q4 2024 Earnings Report
Key Takeaways
Kilroy Realty Corporation reported strong financial performance in Q4 2024, with revenues of $286.4 million, net income of $59.5 million, and FFO of $144.9 million. Leasing activity accelerated significantly, reaching 708,000 square feet, the highest quarterly volume since 2019. The company also repaid $403.7 million in senior unsecured notes and sold its corporate aircraft for $19.8 million.
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
For 2025, Kilroy Realty expects FFO per share of $3.85 to $4.05, with average occupancy projected between 80% and 82%. The company anticipates continued leasing momentum but expects same-store NOI growth to decline slightly.
Positive Outlook
- Strong leasing activity supports future revenue growth
- Successful debt repayment enhances financial flexibility
- Investments in PropTech to improve operational efficiency
- Sustainability leadership with carbon-neutral operations
- High tenant demand in core West Coast markets
Challenges Ahead
- Same-store NOI expected to decline by 1.5% to 3.0%
- Occupancy levels remain below historical highs
- Potential interest rate volatility affecting financing costs
- Market uncertainty in the commercial real estate sector
- Competition for high-quality tenants remains strong