BMO Capital downgraded Kilroy Realty (KRC) to Underperform from Market Perform with a $35 price target The firm estimates the company’s lease-versus-expiration ratio at 0.7 times in 2026 versus 2.0 times for the office sector average. This suggests reduced occupancy and margins in 2026 while Kilroy also continues to face headwinds from its $2.5B development pipeline with capitalized interest rolling off in 2025, the analyst tells investors in a research note.
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