Saul Centers, Inc. (BFS) Plans Quarterly Dividend of $0.51
Saul Centers, Inc. (NYSE:BFS) declared a quarterly dividend on Friday, September 22nd, Wall Street Journal reports. Stockholders of record on Tuesday, October 17th will be given a dividend of 0.51 per share by the real estate investment trust on Tuesday, October 31st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend is Monday, October 16th.
Saul Centers has raised its dividend by an average of 8.5% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Saul Centers has a dividend payout ratio of 63.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Saul Centers to earn $3.25 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 62.8%.
Shares of Saul Centers (NYSE BFS) traded up 0.53% during midday trading on Friday, hitting $60.79. 16,709 shares of the stock traded hands. The company has a market capitalization of $1.33 billion, a PE ratio of 38.45 and a beta of 0.72. The firm’s 50 day moving average price is $60.45 and its 200 day moving average price is $60.30. Saul Centers has a 12-month low of $55.86 and a 12-month high of $68.33.
A number of research firms recently weighed in on BFS. BidaskClub upgraded Saul Centers from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Zacks Investment Research upgraded Saul Centers from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. Finally, BMO Capital Markets upgraded Saul Centers from a “market perform” rating to an “outperform” rating in a research note on Monday, August 7th.
In other Saul Centers news, VP Steven N. Corey sold 5,000 shares of the company’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $59.04, for a total value of $295,200.00. Following the transaction, the vice president now directly owns 5,000 shares of the company’s stock, valued at approximately $295,200. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Charles W. Sherren, Jr. sold 2,453 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $61.72, for a total value of $151,399.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,544 shares of company stock worth $818,927. 48.80% of the stock is owned by company insiders.
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About Saul Centers
Saul Centers, Inc operates as a real estate investment trust. The Company’s principal business activity is the ownership, management and development of income-producing properties. It operates through two segments: Shopping Centers and Mixed-Use Properties. The Company, which conducts all of its activities through its subsidiaries, the Saul Holdings Limited Partnership (Operating Partnership) and Subsidiary Partnerships, engages in the ownership, operation, management, leasing, acquisition, renovation, expansion, development and financing of community and neighborhood shopping centers and mixed-used properties in the Washington, District of Columbia/Baltimore metropolitan area.
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