Equities research analysts at DA Davidson started coverage on shares of Saul Centers Inc. (NYSE:BFS) in a research report issued to clients and investors on Friday. The firm set a “neutral” rating and a $72.00 price target on the stock. DA Davidson’s price objective would suggest a potential upside of 12.11% from the company’s current price.
Other analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Saul Centers from a “hold” rating to a “sell” rating in a research report on Friday, September 23rd. TheStreet lowered shares of Saul Centers from a “buy” rating to a “hold” rating in a research report on Monday, September 12th.
Saul Centers (NYSE:BFS) opened at 64.22 on Friday. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 41.43 and a beta of 0.65. The company has a 50-day moving average of $65.44 and a 200-day moving average of $60.99. Saul Centers has a 52 week low of $46.46 and a 52 week high of $68.75.
Saul Centers (NYSE:BFS) last issued its earnings results on Tuesday, August 2nd. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by $0.03. Saul Centers had a net margin of 21.14% and a return on equity of 25.74%. The company earned $52.70 million during the quarter, compared to analyst estimates of $52.20 million. On average, equities analysts forecast that Saul Centers will post $3.08 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 14th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend is Wednesday, October 12th. Saul Centers’s payout ratio is currently 121.29%.
In related news, VP Joel Albert Friedman sold 1,142 shares of Saul Centers stock in a transaction on Friday, September 30th. The shares were sold at an average price of $67.00, for a total transaction of $76,514.00. Following the completion of the transaction, the vice president now owns 1,242 shares of the company’s stock, valued at $83,214. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher Netter sold 5,539 shares of Saul Centers 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. Insiders own 50.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in BFS. Virginia Retirement System purchased a new position in shares of Saul Centers during the first quarter worth $281,000. Teachers Advisors Inc. increased its position in shares of Saul Centers by 4.7% in the first quarter. Teachers Advisors Inc. now owns 139,525 shares of the company’s stock worth $7,398,000 after buying an additional 6,212 shares in the last quarter. Prudential Financial Inc. increased 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 worth $1,565,000 after buying an additional 830 shares in the last quarter. BlackRock Inc. increased its position in shares of Saul Centers by 12.4% in the first quarter. BlackRock Inc. now owns 13,378 shares of the company’s stock worth $709,000 after buying an additional 1,479 shares in the last quarter. Finally, BlackRock Group LTD increased 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 worth $5,509,000 after buying an additional 4,115 shares in the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.
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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