Kilroy Realty Shares Up 3% on Q4 Beat
<p><a href='https://financialmodelingprep.com/financial-summary/KRC'>Kilroy Realty (NYSE:KRC)</a> shares rose more than 3% on Thursday after the company reported its Q4 results, with revenue of $284.3 million coming in better than the Street estimate of $278.11 million. FFO was $1.17, compared to the $1.05 reported last year.</p>
<p>Given this quarter's results, analysts at Deutsche Bank expect a muted to lower trading response as operating metrics were surprisingly good in Q4, but the positive results are largely offset by 2023’s guidance and occupancy outlook shortfall. For 2023, the company expects FFO in the range of $4.40-$4.60.</p>
<p>The weak guide may be overlooked as conservative, given washed-out valuations, but any trading strength is likely viewed by investors as an opportunity to trim Office REIT exposure.</p>
<p>Further, while pandemic-related headwinds have eased, cyclical recessionary headwinds persist for Office REITs with west coast markets struggling more with back-to-office endeavors and very high vacancy rates.</p>

NYSE:KRC