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REIT owning office and life-science lab buildings concentrated in West Coast tech/biotech hub cities.
REIT owning office and life-science lab buildings concentrated in West Coast tech/biotech hub cities.
Collects rent under multi-year leases and adds to the portfolio by building and redeveloping properties itself. Its buildings sit in a handful of West Coast metros, such as San Francisco, San Diego, Los Angeles and Seattle, so local office and laboratory markets drive occupancy more than the national picture does.
Moat: narrow (scale, installed base). Purpose-built lab and premium office space in supply-constrained West Coast markets is costly to replicate.
Headquarters: Los Angeles, California, US · Founded: 1947 · Employees: 241
Size Kilroy Realty (KRC) is a United States Real Estate company (Real Estate Investment Trusts) with a market value of $4.21B, the 1315th largest of 3,117 United States companies the cockpit tracks. Shares closed at $35.82 on 6 Nov 2026.
Performance Over six months the shares gained 2.6%, against -2.3% for the median peer and -1.1% for the United States market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue fell 3.6% over the last twelve months (peer median +3.1%); the operating margin is 22.9% (peer median 42.5%).
Valuation It trades at 0.80× book value against a peer median of 1.11× (4th cheapest of 21).
Price implies The share price implies a return on equity of about 9.3%; Kilroy Realty delivers 0.5%, so the price asks more than the business earns today.
Credit Kilroy Realty has 7 bonds outstanding ($2.98B), rated BBB- by the agencies and trading like BB+ at a weighted spread of 148 bp.
Short interest Short interest is 11.2% of the free float (15 Oct 2026).
Next results Next results expected around 1 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.09B | $1.11B | $1.14B | $1.13B | $1.10B |
| Revenue growth | — | -2% | +1% | +3% | — |
| Gross profit | $326M | $384M | $407M | $424M | $419M |
| EBITDA | $623M | $667M | $692M | $687M | $684M |
| Net income | $28.5M | $275M | $209M | $211M | $231M |
| Free cash flow | $494M | $566M | $541M | $603M | $592M |
| Capital expenditure | $0 | $0 | $0 | $0 | $0 |
| Total debt | $4.50B | $4.74B | $4.75B | $5.08B | $4.43B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Kilroy Realty KRC | $4.21B | +3% | -4% | 1% | 0.80× | 9.3% |
| Alexandria Real Estate Equities ARE | $7.80B | -2% | -10% | -9% | 0.52× | 7.0% |
| BXP BXP | $10.4B | +11% | +3% | 10% | 2.00× | 17.2% |
| Hudson Pacific Properties HPP | $471M | -22% | +3% | -18% | 0.19× | 5.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | KRC | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.8% | +3.6% | 8th highest of 21 |
| 6-month return | +2.6% | -2.3% | 7th highest of 21 |
| Return on equity | 0.5% | 5.8% | 4th lowest of 21 |
| Price / book | 0.80× | 1.11× | 4th cheapest of 21 |
| Trailing P/E | 148.1× | 20.6× | 2nd most expensive of 19 |
| ROE the price implies | 9.3% | 8.9% | 11th least demanding of 21 |
| ROE delivered | 0.5% | 5.5% | 4th lowest of 20 |
| Bond spread | 148 bp | 137 bp | 2nd widest of 6 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Kilroy Realty KRC | United States | $4.21B | +3% | -4% | 1% | 0.80× | 9.3% | 0.5% |
| Nippon Prologis REIT 3283.T | Japan | $4.37B | -8% | +9% | 6% | 1.39× | 6.6% | 6.0% |
| RioCan Real Estate Investment Trust REI-UN.TO | Canada | $4.41B | -3% | -13% | 7% | 0.86× | 7.7% | 6.9% |
| Glp J-reit 3281.T | Japan | $4.00B | -2% | -6% | 7% | 1.43× | 5.4% | 6.8% |
| Dexus DXS.AX | Australia | $4.44B | 0% | -28% | 5% | 0.65× | 8.0% | 4.9% |
| Tanger SKT | United States | $4.45B | +6% | +11% | 19% | 6.60× | 51.9% | 19.3% |
| Apple Hospitality REIT APLE | United States | $4.46B | +34% | +1% | 6% | 1.42× | 12.2% | 5.5% |
| Starwood Property Trust STWD | United States | $4.46B | -32% | +11% | 3% | 0.69× | 8.0% | 3.4% |
| Mapletree Logistics Trust M44U.SI | Singapore | $4.47B | -6% | -1% | 3% | 0.87× | 5.7% | 3.3% |
| Shaftesbury Capital SHC.L | United Kingdom | $3.91B | +16% | +9% | 10% | 0.71× | 10.2% | 9.7% |
| Mapletree Industrial Trust ME8U.SI | Singapore | $3.89B | -10% | -5% | 4% | 1.07× | 5.0% | 4.1% |
| EPR Properties EPR | United States | $4.56B | +2% | +7% | 13% | 1.95× | 16.8% | 12.7% |
| SL Green Realty SLG | United States | $3.88B | +11% | +9% | -3% | 1.12× | 14.6% | -3.1% |
| Americold Realty Trust COLD | United States | $4.57B | +8% | 0% | -16% | 1.89× | 15.5% | -16.5% |
| Granite Real Estate Investment Trust GRT-UN.TO | Canada | $3.85B | -6% | +9% | 7% | 0.93× | 10.4% | 6.5% |
| Keppel DC REIT AJBU.SI | Singapore | $4.67B | -6% | +30% | 11% | 1.26× | 6.8% | 11.4% |
| General de Galerias Comerciales GGC.MC | Spain | $4.70B | 0% | +3% | 18% | 3.99× | 13.5% | n/a |
| Nomura Real Estate Master Fund 3462.T | Japan | $3.66B | -23% | -18% | 5% | 0.96× | 4.5% | 4.8% |
| Cousins Properties CUZ | United States | $4.87B | +11% | +8% | 0% | 1.10× | 11.4% | 0.3% |
| Japan Metropolitan Fund Investment 8953.T | Japan | $4.87B | -8% | 0% | 7% | 1.17× | 4.8% | 7.1% |
| Independence Realty Trust IRT | United States | $3.63B | -9% | +3% | 2% | 1.06× | 9.8% | 1.8% |
Kilroy Realty has 7 bonds outstanding with $2.98B face value. The agencies rate it BBB-; its bonds trade like BB+. Weighted yield 6.14%, a spread of 148 bp over government bonds.