Saul Centers Inc. (BFS) Coverage Initiated at DA Davidson
DA Davidson assumed coverage on shares of Saul Centers Inc. (NYSE:BFS) in a research report issued to clients and investors on Friday, The Fly reports. The firm set a “neutral” rating on the stock.
BFS has been the subject of several other research reports. Zacks Investment Research cut shares of Saul Centers from a “hold” rating to a “sell” rating in a report on Friday, September 23rd. 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’s 50 day moving average is $65.52 and its 200 day moving average is $60.70. The stock has a market cap of $1.43 billion, a PE ratio of 43.02 and a beta of 0.65. Saul Centers has a one year low of $46.46 and a one year high of $68.75.
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Saul Centers (NYSE:BFS) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.76 by $0.03. Saul Centers had a return on equity of 25.74% and a net margin of 21.14%. The firm had revenue of $52.70 million for the quarter, compared to analyst estimates of $52.20 million. On average, equities research analysts expect that Saul Centers will post $3.08 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 14th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Wednesday, October 12th. Saul Centers’s payout ratio is 121.29%.
In other news, insider Christopher Netter sold 5,539 shares of the company’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $68.53, for a total value of $379,587.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott V. Schneider sold 6,000 shares of the company’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 approximately $196,590. The disclosure for this sale can be found here. 50.80% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Chevy Chase Trust Holdings Inc. boosted its position in shares of Saul Centers by 1.8% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 17,175 shares of the company’s stock valued at $1,144,000 after buying an additional 300 shares during the last quarter. Mason Street Advisors LLC acquired a new stake in shares of Saul Centers during the second quarter worth $137,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Saul Centers by 28.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 165,650 shares of the company’s stock worth $10,223,000 after buying an additional 36,502 shares in the last quarter. American Century Companies Inc. acquired a new stake in shares of Saul Centers during the second quarter worth $265,000. Finally, Legal & General Group Plc boosted its stake in shares of Saul Centers by 11.4% in the second quarter. Legal & General Group Plc now owns 32,680 shares of the company’s stock worth $2,016,000 after buying an additional 3,336 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.
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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