Kilroy Realty Corporation Announces Unaudited Consolidated Earnings Results for Fourth Quarter and Full Year Ended December 31, 2014
January 28, 2015 at 10:47 pm
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Kilroy Realty Corporation announced unaudited consolidated earnings results for fourth quarter and full year ended December 31, 2014. For the quarter, the company announced total revenues of $141,765,000 compared to $118,604,000 for the same period a year ago. Income from continuing operations was $19,417,000 compared to $5,038,000 for the same period a year ago. Net income attributable to the company was $30,852,000 compared to $22,628,000 for the same period a year ago. Net income available to common stockholders was $27,540,000 or $0.32 per basic and diluted share compared to net income available to common stockholders of $19,316,000 or $0.23 per basic and diluted share for the same period a year ago. Funds from operations were $69,817,000 compared to $58,482,000 for the same period a year ago. Funds from operations per common share/unit, diluted were $0.78 compared to $0.67 for the same period a year ago.
For the year, the company announced total revenues of $521,725,000 compared to $457,111,000 for the same period a year ago. Income from continuing operations was $59,313,000 compared to $14,935,000 for the same period a year ago. Net income attributable to the company was $180,219,000 compared to $43,880,000 for the same period a year ago. Net income available to common stockholders was $166,969,000 or $1.95 per basic and diluted share compared to $30,630,000 or $0.37 per basic and diluted share for the same period a year ago. Funds from operations were $250,744,000 compared to $218,621,000 for the same period a year ago. Funds from operations per common share/unit, diluted were $2.85 compared to $2.66 for the same period a year ago.
Kilroy Realty Corporation is a self-administered real estate investment trust active in office, life science and mixed-use property types in the United States. The Company owns, develops, acquires and manages real estate assets, consisting primarily of Class A properties in Los Angeles, San Diego, the San Francisco Bay Area, Seattle and Austin. Its stabilized portfolio includes all of its properties with the exception of development properties committed for construction, under construction, or in the tenant improvement phase, redevelopment properties under construction, undeveloped land and real estate assets held for sale. It added two development projects to its stabilized portfolio consisting of two buildings totaling 829,591 square feet of office space in San Diego, California and Austin, Texas. Its stabilized portfolio of operating properties comprises 121 stabilized office properties. It owns its interests in all of its real estate assets through Kilroy Realty, L.P.