RBC Capital raised the firm’s price target on Kilroy Realty to $44 from $40 and keeps an Outperform rating on the shares. The company is making good progress re-stabilizing its operating trends driven by improved leasing activity particularly in the in-place portfolio, though the firm is reducing its FY24 FFO view by 7c to $4.30 to reflect a few in-process development projects rolling off capitalization along with a slightly more conservative lease-up at Kilroy Oyster Point, the analyst tells investors in a research note.
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