Wells Fargo downgraded Kilroy Realty (KRC) to Equal Weight from Overweight with a price target of $35, down from $43. The company is likely to face “stiff earnings headwind from capitalized interest burn off,” the analyst tells investors in a research note. The firm has grown “incrementally concerned” about potential funds from operations headwinds from Kilroy’s lack of leasing and burn-off of capitalized interest on KOP II and possibly Flower Mart. These have potential to largely offset the positive leasing progress, contends Wells.
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Read More on KRC:
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