Why Is Kilroy Realty's Dividend So High?
Share prices of Kilroy Realty (NYSE: KRC) plunged 40% over the past year, pushing the dividend yield up to levels not seen since the Great Recession. The interesting thing is that the real estate investment trust (REIT), which focuses on West Coast office space, actually had a fairly decent year in 2022. The problem is what could happen in 2023.
When office REIT Kilroy Realty announced fourth-quarter 2022 financial results, the biggest surprise was probably how strong the numbers were. Revenue rose to just shy of $1.1 billion from roughly $955 million in 2021. Funds from operations (FFO) in 2022 increased to $4.69 per share for the year, from $3.91. And occupancy only fell 30 basis points, declining to 91.6% from 91.9%.
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Source Fool.com
