NYSE$KRC
Kilroy Realty Corp · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Kilroy Realty's Q4 2023 financial performance reflected a mix of challenges and strategic advancements.
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.
Headline financials
Revenue & EPS history
Kilroy Realty · Revenue · Quarterly
$269M
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.
Tailwinds
- 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
Headwinds
- 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.
- These guidance estimates do not include the impact on Company’s operating results from potential future acquisitions, dispositions (including any associated gains or losses), capital markets activity, impairment charges or any events outside of the Company’s control, as the timing and magnitude of any such events are not known at the time the company provides guidance.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
+0.1%
Avg return
Earnings day
-0.7%
Avg return
5 days after
+0.4%
Avg return
30 days after
48%
33 / 69 earnings
Positive
+5.7%
Q4 2021
Best reaction
-4.6%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.9% | +2.8% | +5.0% | |
| Q4 2025 | -3.7% | -8.1% | -15.1% | |
| Q3 2025 | +1.7% | +2.4% | +4.5% | |
| Q2 2025 | +1.0% | +1.6% | +12.6% | |
| Q1 2025 | +0.0% | -4.0% | -0.5% | |
| Q4 2024 | -2.6% | -5.1% | -13.0% | |
| Q3 2024 | -0.3% | -6.1% | +1.5% | |
| Q2 2024 | -4.6% | -10.7% | -1.8% | |
| Q1 2024 | +2.1% | +2.2% | +0.9% | |
| Q4 2023 | -2.7% | -0.5% | +3.3% | |
| Q3 2023 | -2.7% | -0.5% | +5.5% | |
| Q2 2023 | -1.2% | +3.1% | +3.7% | |
| Q1 2023 | +1.0% | -1.6% | -7.1% | |
| Q4 2022 | +3.6% | -3.4% | -10.6% | |
| Q3 2022 | +4.9% | +4.9% | +0.9% | |
| Q2 2022 | -0.7% | -4.3% | -8.3% | |
| Q1 2022 | -2.3% | -7.6% | -17.3% | |
| Q4 2021 | +5.7% | +5.5% | +13.8% | |
| Q3 2021 | -2.2% | -1.3% | -4.7% | |
| Q2 2021 | +0.7% | -2.5% | -5.0% | |
| Q1 2021 | +0.5% | -0.1% | +3.3% | |
| Q4 2020 | +1.6% | +4.3% | +15.9% | |
| Q3 2020 | -1.4% | +2.6% | +32.3% | |
| Q2 2020 | -0.8% | -1.6% | +2.0% | |
| Q1 2020 | -0.5% | -6.5% | -8.7% | |
| Q4 2019 | +1.9% | +3.2% | -4.7% | |
| Q3 2019 | +4.0% | +4.1% | +3.0% | |
| Q2 2019 | +0.9% | +1.9% | -0.7% | |
| Q1 2019 | -2.1% | -0.5% | -3.5% | |
| Q4 2018 | +2.6% | +3.5% | +5.8% | |
| Q3 2018 | +2.9% | -2.4% | -3.9% | |
| Q2 2018 | -1.2% | -3.1% | -1.4% | |
| Q1 2018 | +2.9% | +3.2% | +7.6% | |
| Q4 2017 | -0.1% | -4.7% | -3.2% | |
| Q3 2017 | -1.9% | -1.7% | +4.4% | |
| Q2 2017 | -2.8% | -4.6% | -5.4% | |
| Q1 2017 | -3.8% | -2.8% | -0.8% | |
| Q4 2016 | -1.5% | +1.3% | -0.4% | |
| Q3 2016 | +1.3% | +3.3% | +5.0% | |
| Q2 2016 | +2.0% | +4.4% | -0.5% | |
| Q1 2016 | +0.6% | — | — | |
| Q4 2015 | -2.1% | — | — | |
| Q3 2015 | +1.1% | — | — | |
| Q2 2015 | +0.0% | — | — | |
| Q1 2015 | -3.3% | — | — | |
| Q4 2014 | -1.1% | — | — | |
| Q3 2014 | +0.5% | — | — | |
| Q2 2014 | -0.4% | — | — | |
| Q1 2014 | +1.4% | — | — | |
| Q4 2013 | +0.8% | — | — | |
| Q3 2013 | -0.2% | — | — | |
| Q2 2013 | -2.2% | — | — | |
| Q1 2013 | +1.3% | — | — | |
| Q4 2012 | -0.8% | — | — | |
| Q3 2012 | -0.5% | — | — | |
| Q2 2012 | +1.9% | — | — | |
| Q1 2012 | +1.3% | — | — | |
| Q4 2011 | +1.6% | — | — | |
| Q3 2011 | +5.1% | — | — | |
| Q2 2011 | -3.7% | — | — | |
| Q1 2010 | -0.6% | — | — | |
| Q1 2011 | +2.0% | — | — | |
| Q4 2008 | +0.7% | — | — | |
| Q4 2010 | +0.7% | — | — | |
| Q3 2010 | -0.9% | — | — | |
| Q2 2009 | -0.9% | — | — | |
| Q3 2009 | -0.9% | — | — | |
| Q4 2009 | -0.9% | — | — | |
| Q2 2010 | -0.9% | — | — |
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