$56.75 Million in Sales Expected for Saul Centers, Inc. (BFS) This Quarter
Analysts predict that Saul Centers, Inc. (NYSE:BFS) will announce sales of $56.75 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Saul Centers’ earnings. The lowest sales estimate is $56.54 million and the highest is $56.96 million. Saul Centers posted sales of $53.23 million in the same quarter last year, which suggests a positive year over year growth rate of 6.6%. The company is scheduled to report its next earnings report on Tuesday, November 7th.
On average, analysts expect that Saul Centers will report full year sales of $56.75 million for the current financial year, with estimates ranging from $227.40 million to $228.46 million. For the next fiscal year, analysts forecast that the business will post sales of $233.70 million per share, with estimates ranging from $230.37 million to $236.31 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Saul Centers.
BFS has been the subject of several recent analyst reports. BidaskClub raised shares of Saul Centers from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Zacks Investment Research downgraded shares of Saul Centers from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, BMO Capital Markets raised shares of Saul Centers from a “market perform” rating to an “outperform” rating in a research note on Monday, August 7th.
Saul Centers (NYSE:BFS) opened at 62.86 on Friday. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 39.76 and a beta of 0.72. Saul Centers has a 52-week low of $55.86 and a 52-week high of $68.33. The stock has a 50 day moving average price of $62.74 and a 200 day moving average price of $60.49.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Tuesday, October 17th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date is Monday, October 16th. Saul Centers’s payout ratio is currently 129.11%.
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In related news, VP Steven N. Corey sold 11,250 shares of the stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $63.26, for a total value of $711,675.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher Netter sold 4,000 shares of the stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $63.31, for a total transaction of $253,240.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,328 shares of company stock valued at $2,335,487. 48.80% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in BFS. State of Alaska Department of Revenue raised its stake in Saul Centers by 79.3% in the second quarter. State of Alaska Department of Revenue now owns 2,331 shares of the real estate investment trust’s stock worth $135,000 after buying an additional 1,031 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in Saul Centers by 4.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 2,780 shares of the real estate investment trust’s stock worth $161,000 after buying an additional 130 shares in the last quarter. QS Investors LLC raised its stake in Saul Centers by 400.0% in the second quarter. QS Investors LLC now owns 3,500 shares of the real estate investment trust’s stock worth $203,000 after buying an additional 2,800 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in Saul Centers in the third quarter worth about $209,000. Finally, Karp Capital Management Corp bought a new position in Saul Centers in the first quarter worth about $222,000. 45.18% of the stock is owned by institutional investors.
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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