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Kilroy Realty Corporation: What Does it Do?

Peter Barnes - Author
By

Dec. 9 2015, Published 5:20 p.m. ET

History of Kilroy Realty

Kilroy Realty Corporation (KRC) was founded in 1996 by John B. Kilroy Jr. Headquartered in Los Angeles, California, the company is structured as a REIT (real estate investment trust) and completed an initial public offering in 1997. The company is now the fourth-largest publicly traded office REIT in the United States and is a part of the S&P 400.

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What does it do?

Kilroy Realty (KRC) is a self-administered and self-managed REIT. The company’s core business is the ownership of high-quality commercial properties. The company is primarily engaged in the ownership, development, acquisition, and management of real estate assets consisting primarily of class A properties. The company is mainly focused on premier office sub-markets along the West Coast.

Who are its competitors?

Kilroy Realty is one of the largest office REITs in the United States, with a market capitalization of $6 billion. The company competes for rental properties with a number of office REITs, other real estate companies, private real estate funds, financial institutions, pension trusts, and others. The competition for office leasing is mainly driven by factors such as the quality of properties and services provided to tenants, attractiveness of leasing terms, location, and reputation of the company operating the office properties.

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Kilroy Realty’s major competitors in the office REIT space include Boston Properties (BXP), Alexandria Real Estate Equities (ARE), SL Green Realty (SLG), Douglas Emmett (DEI), BioMed Realty (BMR), Highwoods Properties (HIW), Equity Commonwealth (EQC), and Columbia Property Trust (CXP). The iShares Cohen & Steers REIT ETF (ICF) invests ~1.4% of its portfolio in Kilroy Realty.

Series content

  • Kilroy Realty Corporation: What Does it Do?
  • A Look at Kilroy Realty’s Property Portfolio
  • An Insight into Kilroy Realty’s Geographic Coverage
  • Kilroy Realty: Lease Expiration and Tenant Management
  • How Property Development Adds Value to Kilroy Realty’s Portfolio
  • Kilroy Realty Acquires Properties for Long-Term Growth
  • What Is Kilroy Realty’s Value Creation Strategy?
  • Kilroy Realty Enjoys Higher Occupancy Rate in Key Markets
  • Kilroy Realty’s Total Revenue Growth Looks Good
  • Kilroy Realty: Standing Tall with Highest Earnings Margin
  • Evaluating Kilroy Realty’s Higher Funds From Operations
  • Analyzing Kilroy Realty’s Funds from Operations Payout Ratio
  • Kilroy Realty: Less Dependent on Leverage
  • Peer Group Comparison: Kilroy Realty Commands Higher Valuation
  • Why Does Kilroy Realty Trade at a Higher Valuation than Peers?
  • Investing in Kilroy Realty through ETFs
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