Saul Centers Inc. (BFS) Coverage Initiated at DA Davidson
Equities researchers at DA Davidson began coverage on shares of Saul Centers Inc. (NYSE:BFS) in a research report issued to clients and investors on Friday. The brokerage set a “neutral” rating on the stock.
A number of other research firms have also recently issued reports on BFS. Zacks Investment Research cut shares of Saul Centers from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. TheStreet cut shares of Saul Centers from a “buy” rating to a “hold” rating in a report on Monday, September 12th.
Saul Centers (NYSE:BFS) opened at 66.68 on Friday. The company has a market cap of $1.43 billion, a P/E ratio of 43.02 and a beta of 0.65. The company has a 50-day moving average of $65.52 and a 200 day moving average of $60.70. Saul Centers has a one year low of $46.46 and a one year high of $68.75.
Saul Centers (NYSE:BFS) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.73 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by $0.03. The company earned $52.70 million during the quarter, compared to analysts’ expectations of $52.20 million. Saul Centers had a return on equity of 25.74% and a net margin of 21.14%. Analysts anticipate that Saul Centers will post $3.08 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be issued a dividend of $0.47 per share. The ex-dividend date is Wednesday, October 12th. This represents a $1.88 annualized dividend and a dividend yield of 2.82%. Saul Centers’s dividend payout ratio (DPR) is presently 121.29%.
In related news, insider Scott V. Schneider sold 6,000 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $65.53, for a total transaction of $393,180.00. Following the completion of the transaction, the insider now owns 3,000 shares of the company’s stock, valued at $196,590. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christopher Netter sold 5,539 shares of the firm’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $68.53, for a total transaction of $379,587.67. The disclosure for this sale can be found here. Corporate insiders own 50.80% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Prudential Financial Inc. boosted its position in shares of Saul Centers by 2.9% in the first quarter. Prudential Financial Inc. now owns 29,520 shares of the company’s stock valued at $1,565,000 after buying an additional 830 shares during the period. Menta Capital LLC acquired a new position in shares of Saul Centers during the first quarter valued at about $353,000. JPMorgan Chase & Co. boosted its position in shares of Saul Centers by 5.4% in the first quarter. JPMorgan Chase & Co. now owns 84,581 shares of the company’s stock valued at $4,484,000 after buying an additional 4,299 shares during the period. BlackRock Group LTD boosted its position in shares of Saul Centers by 4.1% in the first quarter. BlackRock Group LTD now owns 103,898 shares of the company’s stock valued at $5,509,000 after buying an additional 4,115 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in shares of Saul Centers during the second quarter valued at about $359,000. 45.14% of the stock is owned by hedge funds and other institutional investors.
About Saul Centers
Saul Centers, Inc (Saul Centers) operates as a real estate investment trust (REIT). The Company’s principal business activity is the ownership, management and development of income-producing properties. It operates in two segments: Shopping Centers and Mixed-Use Properties. The Company conducts its business through Saul Holdings Limited Partnership and/or directly or indirectly owned subsidiaries.
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