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:
- Kilroy Realty upgraded to Overweight from Equal Weight at Barclays
- Kilroy Realty price target lowered to $42 from $48 at Goldman Sachs
- Kilroy Realty price target lowered to $40 from $42 at BofA
- Kilroy Realty’s Earnings Call: Mixed Sentiments Amid Growth and Challenges
- Kilroy Realty Achieves Strong Leasing Performance in 2024
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