BUZZ-Kilroy Realty falls after BMO downgrades on low-lease ratio

Reuters
07-16
BUZZ-Kilroy Realty falls after BMO downgrades on low-lease ratio

** Shares of commercial real estate trust firm Kilroy Realty Corp KRC.N falls 1% to $36 premarket

** BMO cuts PT to $36 from $35, a downside of 5% to the stock's last close

** Says reason for downgrade is mainly due to suboptimal lease ratio and development challenges

** Co's office occupancy fell in Q1 and is expected to decline further, leading to lower net operating income margins and challenges with lease expirations in 2026 - BMO

** Also adds leasing activity declined significantly, with fewer leases executed during the quarter

** 3 of 16 brokerages rate the stock "buy", 11 "hold" and 2 "sell"; their median PT is $35- data compiled by LSEG

** As of last close, stock had fallen 8.8% YTD

(Reporting by Apratim Sarkar)

((Apratim.Sarkar@thomsonreuters.com))

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