Barclays initiated coverage of Kilroy Realty with an Equal Weight rating and $38 price target. The analyst says West Coast markets have lagged New York City in terms of absorption and pricing power, even for the high-end workspaces that Kilroy offers. The firm believes tenant mix and local market dynamics could extend the normalization process over a longer time frame than in New York.
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Read More on KRC:
- Kilroy Realty downgraded to Sector Perform from Outperform at RBC Capital
- Kilroy Realty Announces New Financial Agreements and Disclosure
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