KRC Kilroy Realty (KRC) Q1 FY26 earnings call
Kilroy Realty delivered a robust first quarter, driven by record leasing activity fueled by intensifying return-to-office trends and significant AI-driven demand across its West Coast markets. The company strategically recycled capital through dispositions, exceeding its full-year target, and opportunistically repurchased shares while investing in a new pre-leased development. Management maintains a balanced capital allocation approach, prioritizing balance sheet strength amidst market volatility.
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KRC operating KPIs by quarter
| KPI | This call Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Square feet Leasing productivity | ~568K sq ftAgainst this backdrop, our team's disciplined execution drove our strongest first quarter leasing results since 2017 and total productivity of approximately 568,000 square feet, more than double our first quarter performance last year, positioning us to increase our full year average occupancy guidance by 25 basis points at the midpoint.Source: earnings call transcript | ~376K sq ftDuring the second quarter, we executed approximately 376,000 square feet of new and renewal leases, bringing year-to-date leasing volume to roughly 944,000 square feet, an increase of more than 40% versus the first 6 months of 2025.Source: earnings call transcript | — |
| Occupancy rate | 77.6%As a result, portfolio occupancy ended the quarter at 77.6%, excluding KOP 2, the first quarter occupancy would have been 81.5%, down only 10 basis points despite our previously communicated first quarter move-outs.Source: earnings call transcript | 77%Portfolio occupancy, including KOP 2, ended the quarter at 77%, down 60 basis points from the prior quarter despite 2 previously communicated, largely about that negatively impacted occupancy by approximately 140 basis points.Source: earnings call transcript | -0.6 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
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