KRC · Kilroy Realty Corp
Market Cap
$3.98B
Shares
116.28M
Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$34.23
Open$34.42
Day$34.04–34.43
52W close$27.72–44.44
Avg vol 30d1.3M
Short int9.5M · 8.2% float · 9.3d
Short vol79%
Last earningsJul 28, 2026
DataJan 2020–Sep 2026
Filing10-Q · Jul 28
Up next
Next earnings call
Oct 27, 2026
Est · unconfirmed
· in 5 wks
filed Jul 28, 2026
Metrics snapshot
Useful current figures from the complete screener profile.
Revenue (TTM)
$1.11B
Trailing 12 months
Net income (TTM)
$244.29M
Trailing 12 months
Revenue growth YoY
-0.3%
Year over year
Operating margin
—
Trailing 12 months
P / E (TTM)
18.7
Trailing earnings · reciprocal yield 5.3%
FCF yield
—
TTM · current market cap
Return on invested capital
—
Trailing 12 months
Net cash
—
Latest balance sheet
Dividend yield
—
Trailing 12 months
Shares change YoY
-0.9%
Year over year · fewer shares
Price change (1Y)
-23.0%
Trailing year
Short interest
8.2%
Latest settlement · 9.3 days to cover
AI Brief
Q2 FY26 earnings call · Jul 28, 2026
Q2 FY26
TL;DR. Kilroy Realty reported a strong Q2 2026 with positive leasing momentum, including 27.3% GAAP and 15.6% cash re-leasing spreads on space vacant ≤12 months and year-to-date leasing volume up over 40% vs. first-half 2025, while affirming full-year 2026 FFO guidance of $3.49–$3.63 per diluted share and expanding/enhancing its unsecured credit facilities. Stabilized portfolio occupancy of 77.0% was modestly down sequentially due to large move-outs, and a $61.8M impairment on residential assets was recognized in Q1.
Bullish
- + Q2 re-leasing spreads on comparable space vacant ≤12 months were 27.3% GAAP / 15.6% cash, the first quarter both GAAP and cash spreads were positive in nearly two years
- + Q2 leasing volume of ~376,000 sq ft brought YTD leasing to ~944,000 sq ft, an increase of more than 40% versus the first six months of 2025
- + Forward leasing pipeline at quarter-end was 34% higher than at end of Q1, with LOI/late-stage pipeline up ~77%, indicating broad-based demand expansion
- + Amended/extended unsecured credit facilities: revolver upsized to $1.25B (to July 2030) and term loan to $250M (to July 2031), with pricing improved by 20 bps
Bearish
- − Stabilized portfolio occupancy fell 60 bps sequentially to 77.0% despite two previously communicated large move-outs that negatively impacted occupancy by ~140 bps
- − Affirmed 2026 FFO guidance range of $3.49–$3.63 per diluted share (no raise); CFO flagged a difficult Q3 2026 same-property NOI comparison due to $4M / 230 bps of restoration fees and tax refund benefits in Q3 2025
- − Q1 2026 results included a $61.8M impairment of real estate assets on the Columbia Square Living and Jardine residential towers prior to their April 2026 sale
- − Flower Mart development economics remain unsupported; company expects to stop expense capitalization at year-end 2026 consistent with prior expectations, signaling ongoing carrying-cost risk and limited near-term visibility on a path forward
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceOverall
Neutral
SellHoldBuy
Technical
Sell
Momentum
Neutral
Sentiment
Neutral
Fundamentals
Strong
Quant / Vol
Moderate
Market backdrop
VIX 14.8 · calm
Equity put/call 0.58
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
−3%
below
Price vs 50-day avg
−8%
below
RSI (14)
30
oversold
MACD trend
Negative
52-week position
39%
mid-range
Volume (OBV)
Confirms
volume backs price
Momentum
relative strength
1-month return
−7%
trailing
6-month return
+22%
trailing
YTD return
−8%
this year
Relative strength
+2%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $37 › 200d $35 — 50d above 200d
Institutional flow
Accumulating
+13% holders QoQ · +85 funds added
Insider flow
Distributing
Net -$895.8K over 90 days · 100% sells
Short interest
Rising
8.18% of float · ▲ +12.3% MoM · 9.3 days cover
Volume signal
Reversal watch
High volume on a down day — possible exhaustion
Institution breadth
Multi-yr high
388 holders — near 3-yr high, broad support
Squeeze score
69
elevated · 0–100
Fundamentals
Revenue growth
−2%
Y/Y
EPS growth
+31%
Y/Y
Valuation
P/E 18.7
below peers
Buyback
$427.3M
remaining
Balance sheet
$2.2B
net debt
Quant / Vol
risk profile
Volatility
28%
annualized · 1-yr
Max drawdown
−38%
past year
ATR
2.4%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Latest guidance
· from the 8-K filed Jul 27, 2026
full year 2026
Nareit Funds From Operations per common share/unit – diluted
Initiated
$3.49 – $3.63
Average full year occupancy
Initiated
76.5% – 78%
Average full year occupancy excluding KOP 2
Initiated
80.5% – 81.5%
Same Property Cash Net Operating Income (“NOI”) growth
Initiated
0.25% – 1.25%
NOI from Development Properties
Initiated
$-24M – $-22.5M
Operating property dispositions
Initiated
$347.5M – $500M
Total development spending
Initiated
$150M
Net income available to common stockholders per share - diluted
Initiated
$0.08 – $0.22
Current Full Year 2026 Range
Net income available to common stockholders per share - diluted
Initiated
$0.08 – $0.22
prior FY $2.32
midpoint −93.5% Y/Y
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Sell
50 / 200-day cross
No cross
Neutral
Price vs 200-day avg
−3%
Neutral
Price vs 50-day avg
−8%
Bearish
RSI (14)
30
Neutral
MACD trend
Negative
Bearish
52-week position
39%
Neutral
Volume (OBV)
Confirms
Neutral
Market signals — smart money & positioning
Mixed
Trend (MA cross)
No cross
50d $37 › 200d $35 — 50d above 200d
Institutional flow
Accumulating
+13% holders QoQ · +85 funds added
Insider flow
Distributing
Net -$895.8K over 90 days · 100% sells
Short interest
Rising
8.18% of float · ▲ +12.3% MoM · 9.3 days cover
Volume signal
Reversal watch
High volume on a down day — possible exhaustion
Institution breadth
Multi-yr high
388 holders — near 3-yr high, broad support
Price context
position in its 52-week range
Range low $28
Now $34 · 39%
Range high $44
vs 200-day avg -3%
vs 50-day avg -8%
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Capitalized Interest non-GAAP | 11.63M | Three Months Ended June 30, 2026 filing | — |
| Capitalized Internal Overhead Costs non-GAAP | 3.85M | Three Months Ended June 30, 2026 filing | — |
| Funds From Operations non-GAAP | $109.34M | Three Months Ended June 30, 2026 filing | — |
| Net Operating Income non-GAAP | 180.29M | Three Months Ended June 30, 2026 filing | — |
GAAP → non-GAAP reconciliationGAAP Net Income Available to Common Stockholders 19.91M
+193K Net income attributable to noncontrolling common units of the Operating Partnership
+4.62M Net income attributable to noncontrolling interests in consolidated property partnerships
-364K Lease termination fees
+18.93M General and administrative expenses
+2.81M Leasing costs
+93.56M Depreciation and amortization
-1.25M Interest income
+41.63M Interest expense
+248K Other expense (income)
+0K Gains on sales of depreciable operating properties
= Net Operating Income 180.29M
|
|||
| Other Capitalized Development Costs non-GAAP | 1.55M | Three Months Ended June 30, 2026 filing | — |
| Residential Portfolio Average Occupancy | 95.6% | Three Months Ended June 30, 2026 filing | — |
| Retention Rate | 27.9% | Three Months Ended June 30, 2026 filing | — |
| Same Property Net Operating Income non-GAAP | 178.27M | Three Months Ended June 30, 2026 filing | — |
| Same Property Portfolio Average Occupancy | 82% | Three Months Ended June 30, 2026 filing | — |
| Weighted Average Interest and Loan Fee Amortization Rate | 4.62% | Three Months Ended June 30, 2026 filing | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
REIT - Office — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
KRC
this stock
Kilroy Realty Corp
|
$3.98B | -8.4% | -2.0% | 18.7 | 8.2% |
|
BXP
BXP, Inc.
|
$10.19B | -6.4% | +2.2% | 34.3 | 7.0% |
|
ARE
Alexandria Real Estate Equities, Inc.
|
$9.22B | +8.9% | -2.9% | — | 4.2% |
|
VNO
Vornado Realty Trust
|
$6.49B | +4.9% | +1.3% | 1159.0 | 6.0% |
|
CUZ
Cousins Properties Inc
|
$4.65B | +9.7% | +16.0% | 706.4 | 7.1% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Smart Money
Financials
Filings
Performance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| KRC | -1.9% | -6.9% | +22.3% | -5.7% | -8.4% |
| SPY | -0.3% | -0.1% | +20.1% | -0.7% | +11.7% |
| vs SPY | -1.6% | -6.8% | +2.2% | -5.0% | -20.1% |
Capital returns
Buyback program
· as of Jun 30, 2026
Authorized
$500.00M
Spent (derived)
$72.70M
Remaining
$427.30M
Spent
Remaining
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.
Key facts
CIK
1025996
CUSIP
49427F108
13F (30d)
10 filings
10 filers
Visit website
Investor relations