Business News

Kilroy Realty downgraded to Sector Perform from Outperform at Scotiabank

PropTech Investment Corporation II holders approve merger with Appreciate

Scotiabank analyst Nicholas Yulico downgraded Kilroy Realty to Sector Perform from Outperform with a price target of $43, down from $53. The analyst now expects greater occupancy loss from 2023 lease expirations and our expectation for lower leasing volume due to the weaker tech tenant outlook. While the company’s office/lab portfolio is high quality, upside is now more limited due to the weak new leasing environment, the analyst tells investors in a research note. Scotiabank expects 2023 FFOPS guidance to disappoint on lowered occupancy.

Published first on TheFly

See Insiders’ Hot Stocks on TipRanks >>

Read More on KRC:

Click Here to Read the Full Original Article at TipRanks Financial Blog…