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Kilroy Realty logs YOY rise in Q4'17 FFO, makes $111M Calif. asset buy

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Kilroy Realty logs YOY rise in Q4'17 FFO, makes $111M Calif. asset buy

Kilroy Realty Corp. reported funds from operations of $86.5 million, or 85 cents per share, for the fourth quarter of 2017, an increase in the aggregate from roughly $84.3 million, or 87 cents per share, in the 2016 fourth quarter.

The S&P Capital IQ consensus FFO-per-share estimate for the quarter was 83 cents.

In reporting results, Kilroy said it forecasts NAREIT-defined FFO per share in the range of $3.45 to $3.65 for the 2018 full year.

NAREIT is the U.S.-based trade association for real estate investment trusts and publicly traded real estate companies.

The S&P Capital IQ consensus FFO-per-share estimate for full-year 2018 was $3.63.

In a separate release, the office real estate investment trust said it paid approximately $111 million for the 345-349 Oyster Point Blvd. laboratory and office project in the Oyster Point submarket of South San Francisco. The asset is roughly 80% leased and comprises three two-story lab buildings spanning 146,000 square feet.