Kilroy Realty (NYSE:KRC) Q3 2025 Earnings Call October 28, 2025 01:00 PM ET Company ParticipantsSteve Sakwa - SMDBrendan Lynch - DirectorAnthony Paolone - Executive DirectorDouglas Bettisworth - VP of Corporate FinanceOmotayo Okusanya - MDMichael Carroll - MDRob Paratte - EVP, Chief Leasing OfficerJohn Kim - MDNick Yulico - MDCaitlin Burrows - VPJeffrey Kuehling - EVP, CFO and TreasurerEliott Trencher - EVP, CIOAngela Aman - CEOConference Call ParticipantsUpal Rana - Senior Equity Research Analyst US REITsD ...

Kilroy Realty (NYSE:KRC) Q3 2025 Earnings Call October 28, 2025 01:00 PM ET Company ParticipantsSteve Sakwa - SMDBrendan Lynch - DirectorAnthony Paolone - Executive DirectorNick Yulico - MDDouglas Bettisworth - VP of Corporate FinanceOmotayo Okusanya - MDMichael Carroll - MDRob Paratte - EVP, Chief Leasing OfficerJohn Kim - MDCaitlin Burrows - VPJeffrey Kuehling - EVP, CFO and TreasurerEliott Trencher - EVP, CIOAngela Aman - CEOConference Call ParticipantsUpal Rana - Senior Equity Research Analyst US REITsJ ...

Company Overview and Strategy - American Assets Trust (AAT) was founded by Ernest Rady and has a 58+ year history[8] - Adam Wyll was named the new CEO in 2025[8] - The company successfully raised $489 million through a follow-on equity offering[8] Financial Performance and Growth - Total revenue in 2025 is estimated to be $432 million[8] - Funds From Operations (FFO) per share in 2025 is estimated to be $194[8] - Net Operating Income (NOI) grew at a CAGR of 67% from IPO to 2024[8] - Total Revenue grew at a CAGR of 63% from IPO to 2024[8] - Dividends grew at a CAGR of 62% from 2011 to 2024[8] - FFO per share grew at a CAGR of 40% from IPO to 2024[8] Portfolio Composition - The portfolio consists of 41 million square feet of retail space and 25 million square feet of office space[11] - The portfolio includes 2302 multifamily units and 369 hotel suites[11] - By sector, Cash NOI is comprised of 52% Office, 26% Retail, 14% Multifamily, and 8% Mixed-Use[11] - By region/state, Cash NOI is comprised of 47% Southern California, 13% Northern California, 13% Hawaii, 12% Washington, 9% Oregon, and 6% Texas[11] Liquidity and Debt Profile - The company has approximately $144 million in cash on hand[16] - The company has $400 million available on its line of credit[16] - The company's total liquidity is approximately $544 million[16] - The company's total weighted average fixed interest rate is 45%[17] - The weighted average term to maturity is 59 years[17]