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ISI Group analyst George Auerbach published a report on Real Estate Research
KRC that maintained its Buy rating and raised its price target from $53 to $55.
ISI Group reported that, “Over the past two years KRC has significantly ramped up its development pipeline, which
now has a total estimated build cost of $1.4bn and delivers between 2013 and 2016. Of the
total cost, $836mn relates to four build to suit projects which are 100% preleased. We
estimate the year one cash yield on these projects is 7.3%.”
Shares of Real Estate Research closed at $53.60 on Monday.
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