Saul Centers（SA4）株式概要ソール・センターズ・インクはメリーランド州ベセスダに本社を置く自主管理・自主運営のエクイティREITであり、現在62物件の不動産ポートフォリオを運営・管理している。その内訳は、(a)コミュニティ・ショッピングセンターおよび近隣型ショッピングセンター50物件、複合施設8物件で、賃貸可能面積は約1,020万平方フィート、(b)非運営の土地・開発物件4物件である。 詳細SA4 ファンダメンタル分析スノーフレーク・スコア評価1/6将来の成長0/6過去の実績1/6財務の健全性0/6配当金6/6報酬当社が推定した公正価値より16.3%で取引されている 6.3%の高配当で安定した配当金を支払う リスク分析利払いは収益で十分にカバーされない 過去5年間で収益は年間1.8%減少しました。 利益率(8.7%)は昨年より低い(13%) すべてのリスクチェックを見るSA4 Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair Value€Current Price€32.0068.2% 割高 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture0375m2016201920222025202620282031Revenue US$375.3mEarnings US$32.5mAdvancedSet Fair ValueView all narrativesSaul Centers, Inc. 競合他社Hamborner REITSymbol: XTRA:HABAMarket cap: €375.4mFukuoka REITSymbol: TSE:8968Market cap: JP¥149.4bKiwi Property GroupSymbol: NZSE:KPGMarket cap: NZ$1.5bWhitestone REITSymbol: NYSE:WSRMarket cap: US$992.2m価格と性能株価の高値、安値、推移の概要Saul Centers過去の株価現在の株価US$32.0052週高値US$32.4052週安値US$25.20ベータ0.891ヶ月の変化11.89%3ヶ月変化11.89%1年変化9.59%3年間の変化-5.33%5年間の変化-15.79%IPOからの変化-3.96%最新ニュースBuy Or Sell Opportunity • May 29Now 21% undervaluedOver the last 90 days, the stock has risen 3.5% to €29.40. The fair value is estimated to be €37.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.8% over the last 3 years. Earnings per share has declined by 15%.お知らせ • Mar 24Saul Centers, Inc., Annual General Meeting, May 08, 2026Saul Centers, Inc., Annual General Meeting, May 08, 2026. Location: 7501 wisconsin avenue, bethesda, maryland, United Statesお知らせ • Mar 17Saul Centers Declares Quarterly Dividend on Its Common Stock, Payable on April 30, 2026Saul Centers, Inc. has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on April 30, 2026, to holders of record on April 15, 2026. The common dividend is unchanged from the amount paid in the previous quarter and the amount paid in the prior year's comparable quarter.お知らせ • Dec 05Saul Centers Declares Quarterly Dividends, Payable on January 30, 2026Saul Centers, Inc. has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on January 30, 2026, to holders of record on January 15, 2026. The common dividend is unchanged from the amount paid in the previous quarter and the amount paid in the prior year's comparable quarter.お知らせ • Nov 27Saul Centers, Inc. Announces Resignation of John E. Chapoton from the Board of Directors, Effective November 25, 2025On November 25, 2025, John E. Chapoton resigned from the Board of Directors of Saul Centers, Inc. (the “Company”), effective as of the same date. Mr. Chapoton’s resignation is not the result of any disagreement with the Company about its operations, policies or practices.お知らせ • Sep 24Saul Centers, Inc. Declares Quarterly Dividend on Common Stock, Payable on October 31, 2025Saul Centers, Inc. has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on October 31, 2025, to holders of record on October 15, 2025. The common dividend is unchanged from the amount paid in the previous quarter and the amount paid in the prior year's comparable quarter.最新情報をもっと見るRecent updatesBuy Or Sell Opportunity • May 29Now 21% undervaluedOver the last 90 days, the stock has risen 3.5% to €29.40. The fair value is estimated to be €37.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.8% over the last 3 years. Earnings per share has declined by 15%.お知らせ • Mar 24Saul Centers, Inc., Annual General Meeting, May 08, 2026Saul Centers, Inc., Annual General Meeting, May 08, 2026. Location: 7501 wisconsin avenue, bethesda, maryland, United Statesお知らせ • Mar 17Saul Centers Declares Quarterly Dividend on Its Common Stock, Payable on April 30, 2026Saul Centers, Inc. has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on April 30, 2026, to holders of record on April 15, 2026. The common dividend is unchanged from the amount paid in the previous quarter and the amount paid in the prior year's comparable quarter.お知らせ • Dec 05Saul Centers Declares Quarterly Dividends, Payable on January 30, 2026Saul Centers, Inc. has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on January 30, 2026, to holders of record on January 15, 2026. The common dividend is unchanged from the amount paid in the previous quarter and the amount paid in the prior year's comparable quarter.お知らせ • Nov 27Saul Centers, Inc. Announces Resignation of John E. Chapoton from the Board of Directors, Effective November 25, 2025On November 25, 2025, John E. Chapoton resigned from the Board of Directors of Saul Centers, Inc. (the “Company”), effective as of the same date. Mr. Chapoton’s resignation is not the result of any disagreement with the Company about its operations, policies or practices.お知らせ • Sep 24Saul Centers, Inc. Declares Quarterly Dividend on Common Stock, Payable on October 31, 2025Saul Centers, Inc. has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on October 31, 2025, to holders of record on October 15, 2025. The common dividend is unchanged from the amount paid in the previous quarter and the amount paid in the prior year's comparable quarter.お知らせ • Jun 13Saul Centers, Inc. Declares Quarterly Dividends on Common Stock, Payable on July 31, 2025Saul Centers, Inc. has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on July 31, 2025, to holders of record on July 15, 2025. The common dividend is unchanged from the amount paid in the previous quarter and the amount paid in the prior year's comparable quarter.お知らせ • Mar 26Saul Centers, Inc., Annual General Meeting, May 09, 2025Saul Centers, Inc., Annual General Meeting, May 09, 2025. Location: hyatt regency bethesda, one bethesda metro center, bethesda, maryland, United Statesお知らせ • Mar 07Saul Centers, Inc. Declares Quarterly Dividend, Payable on April 30, 2025Saul Centers, Inc. has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on April 30, 2025, to holders of record on April 15, 2025. The common dividend is unchanged from the amount paid in the previous quarter and the amount paid in the prior year's comparable quarter.お知らせ • Jan 17Saul Centers, Inc. Announces Resignation of J. Page Lansdale from Board of DirectorOn January 9, 2025, J. Page Lansdale resigned from the Board of Directors of Saul Centers, Inc. Mr. Lansdale’s resignation is not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.お知らせ • Dec 06Saul Centers, Inc. Declares Quarterly Dividend, Payable on January 31, 2025Saul Centers, Inc. has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on January 31, 2025, to holders of record on January 15, 2025. The common dividend is unchanged from the amount paid in the previous quarter and the amount paid in the prior year's comparable quarter.Reported Earnings • Nov 08Third quarter 2024 earnings released: EPS: US$0.48 (vs US$0.42 in 3Q 2023)Third quarter 2024 results: EPS: US$0.48 (up from US$0.42 in 3Q 2023). Revenue: US$67.3m (up 5.5% from 3Q 2023). Net income: US$11.7m (up 17% from 3Q 2023). Profit margin: 17% (up from 16% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.9% p.a. on average during the next 2 years, compared to a 3.1% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.Buy Or Sell Opportunity • Nov 07Now 22% overvalued after recent price riseOver the last 90 days, the stock has risen 8.0% to €37.60. The fair value is estimated to be €30.92, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Earnings per share has grown by 6.2%. Revenue is forecast to grow by 3.9% in a year. Earnings are forecast to decline by 14% in the next year.Upcoming Dividend • Oct 08Upcoming dividend of US$0.59 per shareEligible shareholders must have bought the stock before 15 October 2024. Payment date: 31 October 2024. Trailing yield: 5.8%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (5.1%).Declared Dividend • Sep 23Second quarter dividend of US$0.59 announcedShareholders will receive a dividend of US$0.59. Ex-date: 15th October 2024 Payment date: 31st October 2024 Dividend yield will be 6.2%, which is higher than the industry average of 5.6%.New Risk • Sep 16New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 17% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.9% increase in shares outstanding).New Risk • Sep 10New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 17% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.9% increase in shares outstanding).New Risk • Sep 08New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 17% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.9% increase in shares outstanding).New Risk • Aug 29New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 17% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.9% increase in shares outstanding).New Risk • Aug 26New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 17% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.9% increase in shares outstanding).Buy Or Sell Opportunity • Aug 23Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 7.2% to €35.60. The fair value is estimated to be €29.51, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Earnings per share has grown by 6.2%. Revenue is forecast to grow by 3.9% in a year. Earnings are forecast to decline by 14% in the next year.New Risk • Aug 11New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 23% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.9% increase in shares outstanding).Buy Or Sell Opportunity • Aug 06Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 1.8% to €34.20. The fair value is estimated to be €28.46, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Earnings per share has grown by 6.2%. Revenue is forecast to grow by 3.5% in a year. Earnings are forecast to decline by 20% in the next year.New Risk • Aug 04New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 23% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.9% increase in shares outstanding).Reported Earnings • Aug 02Second quarter 2024 earnings released: EPS: US$0.48 (vs US$0.43 in 2Q 2023)Second quarter 2024 results: EPS: US$0.48 (up from US$0.43 in 2Q 2023). Revenue: US$66.9m (up 5.1% from 2Q 2023). Net income: US$11.6m (up 12% from 2Q 2023). Profit margin: 17% (up from 16% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.8% p.a. on average during the next 2 years, compared to a 3.2% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.New Risk • Jul 20New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.4% increase in shares outstanding).New Risk • Jul 14New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.4% increase in shares outstanding).Upcoming Dividend • Jul 08Upcoming dividend of US$0.59 per shareEligible shareholders must have bought the stock before 15 July 2024. Payment date: 31 July 2024. Trailing yield: 6.4%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (5.3%).New Risk • Jun 30New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.4% increase in shares outstanding).Declared Dividend • Jun 24First quarter dividend of US$0.59 announcedShareholders will receive a dividend of US$0.59. Ex-date: 15th July 2024 Payment date: 31st July 2024 Dividend yield will be 6.6%, which is higher than the industry average of 5.6%.New Risk • Jun 23New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.4% increase in shares outstanding).お知らせ • Jun 21Saul Centers, Inc. Declares Quarterly Dividends on Common Stock, Payable on July 31, 2024Saul Centers, Inc. has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on July 31, 2024, to holders of record on July 15, 2024. The common dividend is unchanged from the amount paid in the previous quarter and the amount paid in the prior year's comparable quarter.New Risk • Jun 13New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.4% increase in shares outstanding).New Risk • Jun 12New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.4% increase in shares outstanding).New Risk • Jun 11New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.4% increase in shares outstanding).New Risk • Jun 03New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.4% increase in shares outstanding).New Risk • May 14New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 18% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.4% increase in shares outstanding).Reported Earnings • May 03First quarter 2024 earnings released: EPS: US$0.45 (vs US$0.45 in 1Q 2023)First quarter 2024 results: EPS: US$0.45 (up from US$0.45 in 1Q 2023). Revenue: US$66.7m (up 5.8% from 1Q 2023). Net income: US$13.6m (up 27% from 1Q 2023). Profit margin: 20% (up from 17% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.8% p.a. on average during the next 2 years, compared to a 3.1% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.New Risk • Apr 29New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 22% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (2.5% increase in shares outstanding).New Risk • Apr 26New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 22% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (2.5% increase in shares outstanding).New Risk • Apr 11New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 22% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 22% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (2.5% increase in shares outstanding).Upcoming Dividend • Apr 05Upcoming dividend of US$0.59 per shareEligible shareholders must have bought the stock before 12 April 2024. Payment date: 30 April 2024. Trailing yield: 6.3%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (5.5%).お知らせ • Apr 03Saul Centers, Inc., Annual General Meeting, May 17, 2024Saul Centers, Inc., Annual General Meeting, May 17, 2024, at 11:00 US Eastern Standard Time. Location: Hyatt Regency Bethesda, One Bethesda Maryland United States Agenda: To consider and elect five directors to serve until the annual meeting of stockholders in 2027; to consider and ratify the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024; to consider approve the Company's 2024 Stock Incentive Plan; and to consider other business matters.New Risk • Mar 18New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risk Shareholders have been diluted in the past year (2.5% increase in shares outstanding).Declared Dividend • Mar 17Fourth quarter dividend of US$0.59 announcedShareholders will receive a dividend of US$0.59. Ex-date: 12th April 2024 Payment date: 30th April 2024 Dividend yield will be 6.6%, which is higher than the industry average of 5.6%.お知らせ • Mar 15Saul Centers, Inc. Declares Quarterly Dividends, Payable on April 30, 2024Saul Centers, Inc. has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on April 30, 2024, to holders of record on April 15, 2024. The common dividend is unchanged from the amount paid in the previous quarter and the amount paid in the prior year's comparable quarter.New Risk • Mar 11New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risk Shareholders have been diluted in the past year (2.5% increase in shares outstanding).Recent Insider Transactions • Mar 09Independent Director recently sold €216k worth of stockOn the 7th of March, James Lansdale sold around 6k shares on-market at roughly €34.67 per share. This transaction amounted to 92% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought €1.6m more than they sold in the last 12 months.New Risk • Mar 03New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risk Shareholders have been diluted in the past year (2.5% increase in shares outstanding).Reported Earnings • Mar 01Full year 2023 earnings released: EPS: US$1.73 (vs US$1.63 in FY 2022)Full year 2023 results: EPS: US$1.73 (up from US$1.63 in FY 2022). Revenue: US$257.2m (up 4.6% from FY 2022). Net income: US$41.5m (up 6.4% from FY 2022). Profit margin: 16% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Jan 05Upcoming dividend of US$0.59 per share at 6.0% yieldEligible shareholders must have bought the stock before 12 January 2024. Payment date: 31 January 2024. Trailing yield: 6.0%. Within top quartile of German dividend payers (5.0%). In line with average of industry peers (6.1%).お知らせ • Dec 08Saul Centers Declares Quarterly Dividend Payable on January 31, 2024Saul Centers, Inc. has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on January 31, 2024, to holders of record on January 16, 2024. The common dividend is unchanged from the amount paid in the previous quarter and the amount paid in the prior year's comparable quarter.お知らせ • Nov 17Saul Centers, Inc. Announces Executive Changes, Effective December 31, 2023On October 12, 2023, Saul Centers, Inc. filed a Current Report on Form 8-K to report that, on October 10, 2023, Christopher H. Netter announced he will retire as Executive Vice President – Leasing of the Company effective December 31, 2023. The Form 8-K is hereby amended to report that, on November 16, 2023, the Company and Mr. Netter entered into a consulting agreement pursuant to which, following his retirement, Mr. Netter will serve as a consultant to the Company from January 1, 2024 through June 30, 2024. During the Consulting Period, the Company will pay Mr. Netter a consulting fee of $470,000 for his services, which will be paid in six equal monthly installments. The Consulting Agreement also provides for certain confidentiality and non-disclosure provisions, and a release of claims for the benefit of the Company. As previously reported, the Company is conducting a retained search for Mr. Netter’s replacement. Zachary Friedlis, Senior Vice President and Director of Retail Leasing, will serve in this role in the interim.Reported Earnings • Nov 03Third quarter 2023 earnings released: EPS: US$0.42 (vs US$0.38 in 3Q 2022)Third quarter 2023 results: EPS: US$0.42 (up from US$0.38 in 3Q 2022). Revenue: US$63.8m (up 4.4% from 3Q 2022). Net income: US$10.0m (up 9.5% from 3Q 2022). Profit margin: 16% (in line with 3Q 2022). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth.お知らせ • Oct 13Saul Centers, Inc. Announces the Resignation of Christopher H. Netter as Executive Vice President – Leasing, Effective December 31, 2023Saul Centers, Inc. announced that on October 10, 2023, Christopher H. Netter tendered his resignation as Executive Vice President – Leasing of the company. Mr. Netter will retire effective December 31, 2023, for personal reasons. The Company intends to commence a retained search for his replacement.Upcoming Dividend • Oct 06Upcoming dividend of US$0.59 per share at 6.8% yieldEligible shareholders must have bought the stock before 13 October 2023. Payment date: 31 October 2023. Trailing yield: 6.8%. Within top quartile of German dividend payers (5.0%). In line with average of industry peers (6.6%).Recent Insider Transactions • Sep 22Chairman & CEO recently bought €346k worth of stockOn the 21st of September, Bernard Saul bought around 10k shares on-market at roughly €34.64 per share. This transaction amounted to 2.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Bernard has been a buyer over the last 12 months, purchasing a net total of €1.7m worth in shares.Recent Insider Transactions • Aug 13Chairman & CEO recently bought €220k worth of stockOn the 9th of August, Bernard Saul bought around 6k shares on-market at roughly €34.16 per share. This transaction amounted to 1.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Bernard has been a buyer over the last 12 months, purchasing a net total of €1.2m worth in shares.Reported Earnings • Aug 05Second quarter 2023 earnings released: EPS: US$0.43 (vs US$0.43 in 2Q 2022)Second quarter 2023 results: EPS: US$0.43 (up from US$0.43 in 2Q 2022). Revenue: US$63.7m (up 5.7% from 2Q 2022). Net income: US$10.4m (up 1.4% from 2Q 2022). Profit margin: 16% (in line with 2Q 2022). Revenue is forecast to grow 3.1% p.a. on average during the next 2 years, compared to a 3.9% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 8% per year.Upcoming Dividend • Jul 07Upcoming dividend of US$0.59 per share at 6.5% yieldEligible shareholders must have bought the stock before 14 July 2023. Payment date: 31 July 2023. Trailing yield: 6.5%. Within top quartile of German dividend payers (4.8%). In line with average of industry peers (6.8%).Recent Insider Transactions • May 12President & COO recently bought €105k worth of stockOn the 9th of May, David Pearson bought around 4k shares on-market at roughly €30.12 per share. This transaction increased David's direct individual holding by 2x at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth €334k. This was David's only on-market trade for the last 12 months.Reported Earnings • May 06First quarter 2023 earnings released: EPS: US$0.45 (vs US$0.44 in 1Q 2022)First quarter 2023 results: EPS: US$0.45 (up from US$0.44 in 1Q 2022). Revenue: US$63.0m (up 1.5% from 1Q 2022). Net income: US$10.7m (up 1.3% from 1Q 2022). Profit margin: 17% (in line with 1Q 2022). Revenue is forecast to grow 3.2% p.a. on average during the next 2 years, compared to a 3.3% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Apr 07Upcoming dividend of US$0.59 per share at 6.2% yieldEligible shareholders must have bought the stock before 14 April 2023. Payment date: 28 April 2023. Trailing yield: 6.2%. Within top quartile of German dividend payers (4.8%). In line with average of industry peers (6.7%).Recent Insider Transactions • Mar 29Chairman & CEO recently bought €334k worth of stockOn the 23rd of March, Bernard Saul bought around 10k shares on-market at roughly €33.37 per share. This transaction amounted to 2.3% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Bernard has been a buyer over the last 12 months, purchasing a net total of €737k worth in shares.Recent Insider Transactions • Mar 24Chairman & CEO recently bought €98k worth of stockOn the 16th of March, Bernard Saul bought around 3k shares on-market at roughly €34.70 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €248k. Bernard has been a buyer over the last 12 months, purchasing a net total of €403k worth in shares.Reported Earnings • Mar 03Full year 2022 earnings released: EPS: US$1.63 (vs US$1.57 in FY 2021)Full year 2022 results: EPS: US$1.63 (up from US$1.57 in FY 2021). Revenue: US$245.9m (up 2.8% from FY 2021). Net income: US$39.0m (up 4.9% from FY 2021). Profit margin: 16% (in line with FY 2021). Revenue is forecast to grow 3.3% p.a. on average during the next 2 years, compared to a 2.6% growth forecast for the REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.Upcoming Dividend • Jan 06Upcoming dividend of US$0.59 per shareEligible shareholders must have bought the stock before 13 January 2023. Payment date: 31 January 2023. Trailing yield: 6.1%. Within top quartile of German dividend payers (4.9%). Higher than average of industry peers (5.4%).Board Change • Nov 16Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 9 highly experienced directors. Senior VP of Residential Design, Market Research & Residential Marketing Initiatives and Director Willoughby Laycock was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Nov 10Third quarter 2022 earnings released: EPS: US$0.38 (vs US$0.44 in 3Q 2021)Third quarter 2022 results: EPS: US$0.38 (down from US$0.44 in 3Q 2021). Revenue: US$61.1m (up 1.4% from 3Q 2021). Net income: US$9.15m (down 12% from 3Q 2021). Profit margin: 15% (down from 17% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.2% p.a. on average during the next 2 years, compared to a 4.7% growth forecast for the REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings.Upcoming Dividend • Oct 07Upcoming dividend of US$0.59 per shareEligible shareholders must have bought the stock before 14 October 2022. Payment date: 31 October 2022. Trailing yield: 6.4%. Within top quartile of German dividend payers (5.3%). In line with average of industry peers (5.9%).Reported Earnings • Aug 05Second quarter 2022 earnings released: EPS: US$0.43 (vs US$0.42 in 2Q 2021)Second quarter 2022 results: EPS: US$0.43 (up from US$0.42 in 2Q 2021). Revenue: US$60.3m (flat on 2Q 2021). Net income: US$10.2m (up 2.7% from 2Q 2021). Profit margin: 17% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 4.7% while the industry in Germany is not expected to grow. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 1% per year.Upcoming Dividend • Jul 07Upcoming dividend of US$0.59 per shareEligible shareholders must have bought the stock before 14 July 2022. Payment date: 29 July 2022. Trailing yield: 5.0%. Within top quartile of German dividend payers (4.6%). In line with average of industry peers (4.9%).Recent Insider Transactions • May 29Chairman & CEO recently bought €56k worth of stockOn the 25th of May, Bernard Saul bought around 1k shares on-market at roughly €45.12 per share. This was the largest purchase by an insider in the last 3 months. This was Bernard's only on-market trade for the last 12 months.Reported Earnings • May 06First quarter 2022 earnings released: EPS: US$0.44 (vs US$0.32 in 1Q 2021)First quarter 2022 results: EPS: US$0.44 (up from US$0.32 in 1Q 2021). Revenue: US$62.1m (up 5.8% from 1Q 2021). Net income: US$10.6m (up 42% from 1Q 2021). Profit margin: 17% (up from 13% in 1Q 2021). Over the next year, revenue is forecast to grow 4.0% while the industry in Germany is not expected to grow. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 1% per year.Board Change • Apr 27Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 7 highly experienced directors. Senior VP of Residential Design, Market Research & Residential Marketing Initiatives and Director Willoughby Laycock was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Upcoming Dividend • Apr 06Upcoming dividend of US$0.57 per shareEligible shareholders must have bought the stock before 13 April 2022. Payment date: 29 April 2022. Trailing yield: 4.2%. Within top quartile of German dividend payers (3.8%). Higher than average of industry peers (3.7%).Recent Insider Transactions • Mar 24Insider recently sold €105k worth of stockOn the 15th of March, John Collich sold around 2k shares on-market at roughly €42.93 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €218k more than they bought in the last 12 months.Reported Earnings • Feb 25Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: US$1.57 (up from US$1.25 in FY 2020). Revenue: US$239.2m (up 6.2% from FY 2020). Net income: US$37.2m (up 27% from FY 2020). Profit margin: 16% (up from 13% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 6.0% while thereits industry in Germany is not expected to grow. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 6% per year.Upcoming Dividend • Jan 06Upcoming dividend of US$0.57 per shareEligible shareholders must have bought the stock before 13 January 2022. Payment date: 31 January 2022. Trailing yield: 4.2%. Within top quartile of German dividend payers (3.3%). Higher than average of industry peers (2.8%).Recent Insider Transactions • Nov 12Insider recently sold €113k worth of stockOn the 9th of November, John Collich sold around 3k shares on-market at roughly €44.38 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €112k more than they bought in the last 12 months.Reported Earnings • Nov 06Third quarter 2021 earnings released: EPS US$0.44 (vs US$0.28 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$60.3m (up 6.2% from 3Q 2020). Net income: US$10.3m (up 57% from 3Q 2020). Profit margin: 17% (up from 12% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has remained flat, which means it is well ahead of earnings.Upcoming Dividend • Oct 07Upcoming dividend of US$0.55 per shareEligible shareholders must have bought the stock before 14 October 2021. Payment date: 29 October 2021. Trailing yield: 4.8%. Within top quartile of German dividend payers (3.3%). Higher than average of industry peers (3.4%).Reported Earnings • Aug 08Second quarter 2021 earnings released: FFO US$1.11 per share (vs US$0.86 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$60.0m (up 13% from 2Q 2020). Funds from operations (FFO): US$26.0m (up 30% from 2Q 2020). FFO margin: 43% (up from 38% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 7% per year.Upcoming Dividend • Jul 08Upcoming dividend of US$0.55 per shareEligible shareholders must have bought the stock before 15 July 2021. Payment date: 30 July 2021. Trailing yield: 4.9%. Within top quartile of German dividend payers (3.1%). Higher than average of industry peers (3.3%).Reported Earnings • May 09First quarter 2021 earnings releasedThe company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: US$58.7m (up 3.1% from 1Q 2020). Funds from operations (FFO): US$22.7m (down 10% from 1Q 2020). FFO margin: 39% (down from 45% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 4% per year.Upcoming Dividend • Apr 07Upcoming dividend of US$0.53 per shareEligible shareholders must have bought the stock before 14 April 2021. Payment date: 30 April 2021. Trailing yield: 5.2%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (3.5%).Valuation Update With 7 Day Price Move • Mar 09Investor sentiment improved over the past weekAfter last week's 17% share price gain to US$34.60, the stock is trading at a trailing P/E ratio of 33.8x, up from the previous P/E ratio of 28.9x. This compares to an average P/E of 12x in the REITs industry in Germany. Total returns to shareholders over the past three years were flat.Reported Earnings • Feb 27Full year 2020 earnings released: FFO US$3.85 per share (vs US$4.13 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: US$225.2m (down 2.7% from FY 2019). Funds from operations (FFO): US$90.0m (down 5.4% from FY 2019). FFO margin: 40% (down from 41% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 10% per year.Is New 90 Day High Low • Feb 19New 90-day high: €28.20The company is up 12% from its price of €25.20 on 20 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is down 5.0% over the same period.Is New 90 Day High Low • Nov 17New 90-day high: €25.40The company is up 6.0% from its price of €24.00 on 19 August 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is down 2.0% over the same period.Valuation Update With 7 Day Price Move • Nov 13Market bids up stock over the past weekAfter last week's 17% share price gain to US$23.60, the stock is trading at a trailing P/E ratio of 22.8x, up from the previous P/E ratio of 19.6x. This compares to an average P/E of 10x in the REITs industry in Germany. Total return to shareholders over the past three years is a loss of 48%.Reported Earnings • Nov 07Third quarter 2020 earnings released: EPS US$0.28The company reported a poor third quarter result with weaker earnings and profit margins, although revenues were flat. Third quarter 2020 results: Revenue: US$56.8m (flat on 3Q 2019). Net income: US$6.57m (down 27% from 3Q 2019). Profit margin: 12% (down from 16% in 3Q 2019). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 27% per year, which means it is performing significantly worse than earnings.Recent Insider Transactions • Sep 26President recently bought €213k worth of stockOn the 22nd of September, Bernard Saul bought around 10k shares on-market at roughly €21.30 per share. In the last 3 months, they made an even bigger purchase worth €485k. Bernard has been a buyer over the last 12 months, purchasing a net total of €984k worth in shares.株主還元SA4DE Retail REITsDE 市場7D1.9%3.1%-0.7%1Y9.6%13.1%2.0%株主還元を見る業界別リターン: SA4過去 1 年間で13.1 % の収益を上げたGerman Retail REITs業界を下回りました。リターン対市場: SA4過去 1 年間で2 % の収益を上げたGerman市場を上回りました。価格変動Is SA4's price volatile compared to industry and market?SA4 volatilitySA4 Average Weekly Movement2.6%Retail REITs Industry Average Movement2.8%Market Average Movement5.9%10% most volatile stocks in DE Market13.0%10% least volatile stocks in DE Market2.8%安定した株価: SA4 、 German市場と比較して、過去 3 か月間で大きな価格変動はありませんでした。時間の経過による変動: SA4の 週次ボラティリティ ( 3% ) は過去 1 年間安定しています。会社概要設立従業員CEO（最高経営責任者ウェブサイト1993162Bernard Saulwww.saulcenters.comソール・センターズ・インクはメリーランド州ベセスダに本社を置く自主管理・自主運営のエクイティREITで、現在62物件の不動産ポートフォリオを運営・管理しており、その内訳は(a)コミュニティ・ショッピングセンターおよび近隣型ショッピングセンター50物件、賃貸可能面積約1,020万平方フィートの複合施設8物件、(b)非運営の土地・開発物件4物件である。ソール・センターズの不動産営業収入の85%以上はワシントンDC/ボルチモア地区の物件から得られている。もっと見るSaul Centers, Inc. 基礎のまとめSaul Centers の収益と売上を時価総額と比較するとどうか。SA4 基礎統計学時価総額€1.14b収益（TTM）€22.16m売上高(TTM)€256.05m35.8xPER（株価収益率3.1xP/SレシオSA4 は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計SA4 損益計算書（TTM）収益US$296.25m売上原価US$86.96m売上総利益US$209.29mその他の費用US$183.65m収益US$25.64m直近の収益報告Mar 31, 2026次回決算日該当なし一株当たり利益（EPS）1.04グロス・マージン70.65%純利益率8.65%有利子負債／自己資本比率337.4%SA4 の長期的なパフォーマンスは？過去の実績と比較を見る配当金6.3%現在の配当利回り70%配当性向View Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/06/12 19:06終値2026/06/12 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Saul Centers, Inc. 1 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。7 アナリスト機関Jonathan PongBairdChristopher LucasCapital One Securities, Inc.Barry OxfordD.A. Davidson & Co.4 その他のアナリストを表示
Buy Or Sell Opportunity • May 29Now 21% undervaluedOver the last 90 days, the stock has risen 3.5% to €29.40. The fair value is estimated to be €37.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.8% over the last 3 years. Earnings per share has declined by 15%.
お知らせ • Mar 24Saul Centers, Inc., Annual General Meeting, May 08, 2026Saul Centers, Inc., Annual General Meeting, May 08, 2026. Location: 7501 wisconsin avenue, bethesda, maryland, United States
お知らせ • Mar 17Saul Centers Declares Quarterly Dividend on Its Common Stock, Payable on April 30, 2026Saul Centers, Inc. has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on April 30, 2026, to holders of record on April 15, 2026. The common dividend is unchanged from the amount paid in the previous quarter and the amount paid in the prior year's comparable quarter.
お知らせ • Dec 05Saul Centers Declares Quarterly Dividends, Payable on January 30, 2026Saul Centers, Inc. has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on January 30, 2026, to holders of record on January 15, 2026. The common dividend is unchanged from the amount paid in the previous quarter and the amount paid in the prior year's comparable quarter.
お知らせ • Nov 27Saul Centers, Inc. Announces Resignation of John E. Chapoton from the Board of Directors, Effective November 25, 2025On November 25, 2025, John E. Chapoton resigned from the Board of Directors of Saul Centers, Inc. (the “Company”), effective as of the same date. Mr. Chapoton’s resignation is not the result of any disagreement with the Company about its operations, policies or practices.
お知らせ • Sep 24Saul Centers, Inc. Declares Quarterly Dividend on Common Stock, Payable on October 31, 2025Saul Centers, Inc. has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on October 31, 2025, to holders of record on October 15, 2025. The common dividend is unchanged from the amount paid in the previous quarter and the amount paid in the prior year's comparable quarter.
Buy Or Sell Opportunity • May 29Now 21% undervaluedOver the last 90 days, the stock has risen 3.5% to €29.40. The fair value is estimated to be €37.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.8% over the last 3 years. Earnings per share has declined by 15%.
お知らせ • Mar 24Saul Centers, Inc., Annual General Meeting, May 08, 2026Saul Centers, Inc., Annual General Meeting, May 08, 2026. Location: 7501 wisconsin avenue, bethesda, maryland, United States
お知らせ • Mar 17Saul Centers Declares Quarterly Dividend on Its Common Stock, Payable on April 30, 2026Saul Centers, Inc. has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on April 30, 2026, to holders of record on April 15, 2026. The common dividend is unchanged from the amount paid in the previous quarter and the amount paid in the prior year's comparable quarter.
お知らせ • Dec 05Saul Centers Declares Quarterly Dividends, Payable on January 30, 2026Saul Centers, Inc. has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on January 30, 2026, to holders of record on January 15, 2026. The common dividend is unchanged from the amount paid in the previous quarter and the amount paid in the prior year's comparable quarter.
お知らせ • Nov 27Saul Centers, Inc. Announces Resignation of John E. Chapoton from the Board of Directors, Effective November 25, 2025On November 25, 2025, John E. Chapoton resigned from the Board of Directors of Saul Centers, Inc. (the “Company”), effective as of the same date. Mr. Chapoton’s resignation is not the result of any disagreement with the Company about its operations, policies or practices.
お知らせ • Sep 24Saul Centers, Inc. Declares Quarterly Dividend on Common Stock, Payable on October 31, 2025Saul Centers, Inc. has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on October 31, 2025, to holders of record on October 15, 2025. The common dividend is unchanged from the amount paid in the previous quarter and the amount paid in the prior year's comparable quarter.
お知らせ • Jun 13Saul Centers, Inc. Declares Quarterly Dividends on Common Stock, Payable on July 31, 2025Saul Centers, Inc. has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on July 31, 2025, to holders of record on July 15, 2025. The common dividend is unchanged from the amount paid in the previous quarter and the amount paid in the prior year's comparable quarter.
お知らせ • Mar 26Saul Centers, Inc., Annual General Meeting, May 09, 2025Saul Centers, Inc., Annual General Meeting, May 09, 2025. Location: hyatt regency bethesda, one bethesda metro center, bethesda, maryland, United States
お知らせ • Mar 07Saul Centers, Inc. Declares Quarterly Dividend, Payable on April 30, 2025Saul Centers, Inc. has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on April 30, 2025, to holders of record on April 15, 2025. The common dividend is unchanged from the amount paid in the previous quarter and the amount paid in the prior year's comparable quarter.
お知らせ • Jan 17Saul Centers, Inc. Announces Resignation of J. Page Lansdale from Board of DirectorOn January 9, 2025, J. Page Lansdale resigned from the Board of Directors of Saul Centers, Inc. Mr. Lansdale’s resignation is not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
お知らせ • Dec 06Saul Centers, Inc. Declares Quarterly Dividend, Payable on January 31, 2025Saul Centers, Inc. has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on January 31, 2025, to holders of record on January 15, 2025. The common dividend is unchanged from the amount paid in the previous quarter and the amount paid in the prior year's comparable quarter.
Reported Earnings • Nov 08Third quarter 2024 earnings released: EPS: US$0.48 (vs US$0.42 in 3Q 2023)Third quarter 2024 results: EPS: US$0.48 (up from US$0.42 in 3Q 2023). Revenue: US$67.3m (up 5.5% from 3Q 2023). Net income: US$11.7m (up 17% from 3Q 2023). Profit margin: 17% (up from 16% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.9% p.a. on average during the next 2 years, compared to a 3.1% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.
Buy Or Sell Opportunity • Nov 07Now 22% overvalued after recent price riseOver the last 90 days, the stock has risen 8.0% to €37.60. The fair value is estimated to be €30.92, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Earnings per share has grown by 6.2%. Revenue is forecast to grow by 3.9% in a year. Earnings are forecast to decline by 14% in the next year.
Upcoming Dividend • Oct 08Upcoming dividend of US$0.59 per shareEligible shareholders must have bought the stock before 15 October 2024. Payment date: 31 October 2024. Trailing yield: 5.8%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (5.1%).
Declared Dividend • Sep 23Second quarter dividend of US$0.59 announcedShareholders will receive a dividend of US$0.59. Ex-date: 15th October 2024 Payment date: 31st October 2024 Dividend yield will be 6.2%, which is higher than the industry average of 5.6%.
New Risk • Sep 16New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 17% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.9% increase in shares outstanding).
New Risk • Sep 10New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 17% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.9% increase in shares outstanding).
New Risk • Sep 08New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 17% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.9% increase in shares outstanding).
New Risk • Aug 29New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 17% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.9% increase in shares outstanding).
New Risk • Aug 26New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 17% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.9% increase in shares outstanding).
Buy Or Sell Opportunity • Aug 23Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 7.2% to €35.60. The fair value is estimated to be €29.51, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Earnings per share has grown by 6.2%. Revenue is forecast to grow by 3.9% in a year. Earnings are forecast to decline by 14% in the next year.
New Risk • Aug 11New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 23% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.9% increase in shares outstanding).
Buy Or Sell Opportunity • Aug 06Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 1.8% to €34.20. The fair value is estimated to be €28.46, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Earnings per share has grown by 6.2%. Revenue is forecast to grow by 3.5% in a year. Earnings are forecast to decline by 20% in the next year.
New Risk • Aug 04New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 23% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.9% increase in shares outstanding).
Reported Earnings • Aug 02Second quarter 2024 earnings released: EPS: US$0.48 (vs US$0.43 in 2Q 2023)Second quarter 2024 results: EPS: US$0.48 (up from US$0.43 in 2Q 2023). Revenue: US$66.9m (up 5.1% from 2Q 2023). Net income: US$11.6m (up 12% from 2Q 2023). Profit margin: 17% (up from 16% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.8% p.a. on average during the next 2 years, compared to a 3.2% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.
New Risk • Jul 20New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.4% increase in shares outstanding).
New Risk • Jul 14New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.4% increase in shares outstanding).
Upcoming Dividend • Jul 08Upcoming dividend of US$0.59 per shareEligible shareholders must have bought the stock before 15 July 2024. Payment date: 31 July 2024. Trailing yield: 6.4%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (5.3%).
New Risk • Jun 30New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.4% increase in shares outstanding).
Declared Dividend • Jun 24First quarter dividend of US$0.59 announcedShareholders will receive a dividend of US$0.59. Ex-date: 15th July 2024 Payment date: 31st July 2024 Dividend yield will be 6.6%, which is higher than the industry average of 5.6%.
New Risk • Jun 23New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.4% increase in shares outstanding).
お知らせ • Jun 21Saul Centers, Inc. Declares Quarterly Dividends on Common Stock, Payable on July 31, 2024Saul Centers, Inc. has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on July 31, 2024, to holders of record on July 15, 2024. The common dividend is unchanged from the amount paid in the previous quarter and the amount paid in the prior year's comparable quarter.
New Risk • Jun 13New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.4% increase in shares outstanding).
New Risk • Jun 12New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.4% increase in shares outstanding).
New Risk • Jun 11New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.4% increase in shares outstanding).
New Risk • Jun 03New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.4% increase in shares outstanding).
New Risk • May 14New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 18% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.4% increase in shares outstanding).
Reported Earnings • May 03First quarter 2024 earnings released: EPS: US$0.45 (vs US$0.45 in 1Q 2023)First quarter 2024 results: EPS: US$0.45 (up from US$0.45 in 1Q 2023). Revenue: US$66.7m (up 5.8% from 1Q 2023). Net income: US$13.6m (up 27% from 1Q 2023). Profit margin: 20% (up from 17% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.8% p.a. on average during the next 2 years, compared to a 3.1% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.
New Risk • Apr 29New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 22% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (2.5% increase in shares outstanding).
New Risk • Apr 26New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 22% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (2.5% increase in shares outstanding).
New Risk • Apr 11New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 22% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 22% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (2.5% increase in shares outstanding).
Upcoming Dividend • Apr 05Upcoming dividend of US$0.59 per shareEligible shareholders must have bought the stock before 12 April 2024. Payment date: 30 April 2024. Trailing yield: 6.3%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (5.5%).
お知らせ • Apr 03Saul Centers, Inc., Annual General Meeting, May 17, 2024Saul Centers, Inc., Annual General Meeting, May 17, 2024, at 11:00 US Eastern Standard Time. Location: Hyatt Regency Bethesda, One Bethesda Maryland United States Agenda: To consider and elect five directors to serve until the annual meeting of stockholders in 2027; to consider and ratify the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024; to consider approve the Company's 2024 Stock Incentive Plan; and to consider other business matters.
New Risk • Mar 18New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risk Shareholders have been diluted in the past year (2.5% increase in shares outstanding).
Declared Dividend • Mar 17Fourth quarter dividend of US$0.59 announcedShareholders will receive a dividend of US$0.59. Ex-date: 12th April 2024 Payment date: 30th April 2024 Dividend yield will be 6.6%, which is higher than the industry average of 5.6%.
お知らせ • Mar 15Saul Centers, Inc. Declares Quarterly Dividends, Payable on April 30, 2024Saul Centers, Inc. has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on April 30, 2024, to holders of record on April 15, 2024. The common dividend is unchanged from the amount paid in the previous quarter and the amount paid in the prior year's comparable quarter.
New Risk • Mar 11New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risk Shareholders have been diluted in the past year (2.5% increase in shares outstanding).
Recent Insider Transactions • Mar 09Independent Director recently sold €216k worth of stockOn the 7th of March, James Lansdale sold around 6k shares on-market at roughly €34.67 per share. This transaction amounted to 92% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought €1.6m more than they sold in the last 12 months.
New Risk • Mar 03New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risk Shareholders have been diluted in the past year (2.5% increase in shares outstanding).
Reported Earnings • Mar 01Full year 2023 earnings released: EPS: US$1.73 (vs US$1.63 in FY 2022)Full year 2023 results: EPS: US$1.73 (up from US$1.63 in FY 2022). Revenue: US$257.2m (up 4.6% from FY 2022). Net income: US$41.5m (up 6.4% from FY 2022). Profit margin: 16% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Jan 05Upcoming dividend of US$0.59 per share at 6.0% yieldEligible shareholders must have bought the stock before 12 January 2024. Payment date: 31 January 2024. Trailing yield: 6.0%. Within top quartile of German dividend payers (5.0%). In line with average of industry peers (6.1%).
お知らせ • Dec 08Saul Centers Declares Quarterly Dividend Payable on January 31, 2024Saul Centers, Inc. has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on January 31, 2024, to holders of record on January 16, 2024. The common dividend is unchanged from the amount paid in the previous quarter and the amount paid in the prior year's comparable quarter.
お知らせ • Nov 17Saul Centers, Inc. Announces Executive Changes, Effective December 31, 2023On October 12, 2023, Saul Centers, Inc. filed a Current Report on Form 8-K to report that, on October 10, 2023, Christopher H. Netter announced he will retire as Executive Vice President – Leasing of the Company effective December 31, 2023. The Form 8-K is hereby amended to report that, on November 16, 2023, the Company and Mr. Netter entered into a consulting agreement pursuant to which, following his retirement, Mr. Netter will serve as a consultant to the Company from January 1, 2024 through June 30, 2024. During the Consulting Period, the Company will pay Mr. Netter a consulting fee of $470,000 for his services, which will be paid in six equal monthly installments. The Consulting Agreement also provides for certain confidentiality and non-disclosure provisions, and a release of claims for the benefit of the Company. As previously reported, the Company is conducting a retained search for Mr. Netter’s replacement. Zachary Friedlis, Senior Vice President and Director of Retail Leasing, will serve in this role in the interim.
Reported Earnings • Nov 03Third quarter 2023 earnings released: EPS: US$0.42 (vs US$0.38 in 3Q 2022)Third quarter 2023 results: EPS: US$0.42 (up from US$0.38 in 3Q 2022). Revenue: US$63.8m (up 4.4% from 3Q 2022). Net income: US$10.0m (up 9.5% from 3Q 2022). Profit margin: 16% (in line with 3Q 2022). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth.
お知らせ • Oct 13Saul Centers, Inc. Announces the Resignation of Christopher H. Netter as Executive Vice President – Leasing, Effective December 31, 2023Saul Centers, Inc. announced that on October 10, 2023, Christopher H. Netter tendered his resignation as Executive Vice President – Leasing of the company. Mr. Netter will retire effective December 31, 2023, for personal reasons. The Company intends to commence a retained search for his replacement.
Upcoming Dividend • Oct 06Upcoming dividend of US$0.59 per share at 6.8% yieldEligible shareholders must have bought the stock before 13 October 2023. Payment date: 31 October 2023. Trailing yield: 6.8%. Within top quartile of German dividend payers (5.0%). In line with average of industry peers (6.6%).
Recent Insider Transactions • Sep 22Chairman & CEO recently bought €346k worth of stockOn the 21st of September, Bernard Saul bought around 10k shares on-market at roughly €34.64 per share. This transaction amounted to 2.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Bernard has been a buyer over the last 12 months, purchasing a net total of €1.7m worth in shares.
Recent Insider Transactions • Aug 13Chairman & CEO recently bought €220k worth of stockOn the 9th of August, Bernard Saul bought around 6k shares on-market at roughly €34.16 per share. This transaction amounted to 1.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Bernard has been a buyer over the last 12 months, purchasing a net total of €1.2m worth in shares.
Reported Earnings • Aug 05Second quarter 2023 earnings released: EPS: US$0.43 (vs US$0.43 in 2Q 2022)Second quarter 2023 results: EPS: US$0.43 (up from US$0.43 in 2Q 2022). Revenue: US$63.7m (up 5.7% from 2Q 2022). Net income: US$10.4m (up 1.4% from 2Q 2022). Profit margin: 16% (in line with 2Q 2022). Revenue is forecast to grow 3.1% p.a. on average during the next 2 years, compared to a 3.9% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 8% per year.
Upcoming Dividend • Jul 07Upcoming dividend of US$0.59 per share at 6.5% yieldEligible shareholders must have bought the stock before 14 July 2023. Payment date: 31 July 2023. Trailing yield: 6.5%. Within top quartile of German dividend payers (4.8%). In line with average of industry peers (6.8%).
Recent Insider Transactions • May 12President & COO recently bought €105k worth of stockOn the 9th of May, David Pearson bought around 4k shares on-market at roughly €30.12 per share. This transaction increased David's direct individual holding by 2x at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth €334k. This was David's only on-market trade for the last 12 months.
Reported Earnings • May 06First quarter 2023 earnings released: EPS: US$0.45 (vs US$0.44 in 1Q 2022)First quarter 2023 results: EPS: US$0.45 (up from US$0.44 in 1Q 2022). Revenue: US$63.0m (up 1.5% from 1Q 2022). Net income: US$10.7m (up 1.3% from 1Q 2022). Profit margin: 17% (in line with 1Q 2022). Revenue is forecast to grow 3.2% p.a. on average during the next 2 years, compared to a 3.3% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Apr 07Upcoming dividend of US$0.59 per share at 6.2% yieldEligible shareholders must have bought the stock before 14 April 2023. Payment date: 28 April 2023. Trailing yield: 6.2%. Within top quartile of German dividend payers (4.8%). In line with average of industry peers (6.7%).
Recent Insider Transactions • Mar 29Chairman & CEO recently bought €334k worth of stockOn the 23rd of March, Bernard Saul bought around 10k shares on-market at roughly €33.37 per share. This transaction amounted to 2.3% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Bernard has been a buyer over the last 12 months, purchasing a net total of €737k worth in shares.
Recent Insider Transactions • Mar 24Chairman & CEO recently bought €98k worth of stockOn the 16th of March, Bernard Saul bought around 3k shares on-market at roughly €34.70 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €248k. Bernard has been a buyer over the last 12 months, purchasing a net total of €403k worth in shares.
Reported Earnings • Mar 03Full year 2022 earnings released: EPS: US$1.63 (vs US$1.57 in FY 2021)Full year 2022 results: EPS: US$1.63 (up from US$1.57 in FY 2021). Revenue: US$245.9m (up 2.8% from FY 2021). Net income: US$39.0m (up 4.9% from FY 2021). Profit margin: 16% (in line with FY 2021). Revenue is forecast to grow 3.3% p.a. on average during the next 2 years, compared to a 2.6% growth forecast for the REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.
Upcoming Dividend • Jan 06Upcoming dividend of US$0.59 per shareEligible shareholders must have bought the stock before 13 January 2023. Payment date: 31 January 2023. Trailing yield: 6.1%. Within top quartile of German dividend payers (4.9%). Higher than average of industry peers (5.4%).
Board Change • Nov 16Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 9 highly experienced directors. Senior VP of Residential Design, Market Research & Residential Marketing Initiatives and Director Willoughby Laycock was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Nov 10Third quarter 2022 earnings released: EPS: US$0.38 (vs US$0.44 in 3Q 2021)Third quarter 2022 results: EPS: US$0.38 (down from US$0.44 in 3Q 2021). Revenue: US$61.1m (up 1.4% from 3Q 2021). Net income: US$9.15m (down 12% from 3Q 2021). Profit margin: 15% (down from 17% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.2% p.a. on average during the next 2 years, compared to a 4.7% growth forecast for the REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings.
Upcoming Dividend • Oct 07Upcoming dividend of US$0.59 per shareEligible shareholders must have bought the stock before 14 October 2022. Payment date: 31 October 2022. Trailing yield: 6.4%. Within top quartile of German dividend payers (5.3%). In line with average of industry peers (5.9%).
Reported Earnings • Aug 05Second quarter 2022 earnings released: EPS: US$0.43 (vs US$0.42 in 2Q 2021)Second quarter 2022 results: EPS: US$0.43 (up from US$0.42 in 2Q 2021). Revenue: US$60.3m (flat on 2Q 2021). Net income: US$10.2m (up 2.7% from 2Q 2021). Profit margin: 17% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 4.7% while the industry in Germany is not expected to grow. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 1% per year.
Upcoming Dividend • Jul 07Upcoming dividend of US$0.59 per shareEligible shareholders must have bought the stock before 14 July 2022. Payment date: 29 July 2022. Trailing yield: 5.0%. Within top quartile of German dividend payers (4.6%). In line with average of industry peers (4.9%).
Recent Insider Transactions • May 29Chairman & CEO recently bought €56k worth of stockOn the 25th of May, Bernard Saul bought around 1k shares on-market at roughly €45.12 per share. This was the largest purchase by an insider in the last 3 months. This was Bernard's only on-market trade for the last 12 months.
Reported Earnings • May 06First quarter 2022 earnings released: EPS: US$0.44 (vs US$0.32 in 1Q 2021)First quarter 2022 results: EPS: US$0.44 (up from US$0.32 in 1Q 2021). Revenue: US$62.1m (up 5.8% from 1Q 2021). Net income: US$10.6m (up 42% from 1Q 2021). Profit margin: 17% (up from 13% in 1Q 2021). Over the next year, revenue is forecast to grow 4.0% while the industry in Germany is not expected to grow. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 1% per year.
Board Change • Apr 27Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 7 highly experienced directors. Senior VP of Residential Design, Market Research & Residential Marketing Initiatives and Director Willoughby Laycock was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Upcoming Dividend • Apr 06Upcoming dividend of US$0.57 per shareEligible shareholders must have bought the stock before 13 April 2022. Payment date: 29 April 2022. Trailing yield: 4.2%. Within top quartile of German dividend payers (3.8%). Higher than average of industry peers (3.7%).
Recent Insider Transactions • Mar 24Insider recently sold €105k worth of stockOn the 15th of March, John Collich sold around 2k shares on-market at roughly €42.93 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €218k more than they bought in the last 12 months.
Reported Earnings • Feb 25Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: US$1.57 (up from US$1.25 in FY 2020). Revenue: US$239.2m (up 6.2% from FY 2020). Net income: US$37.2m (up 27% from FY 2020). Profit margin: 16% (up from 13% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 6.0% while thereits industry in Germany is not expected to grow. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 6% per year.
Upcoming Dividend • Jan 06Upcoming dividend of US$0.57 per shareEligible shareholders must have bought the stock before 13 January 2022. Payment date: 31 January 2022. Trailing yield: 4.2%. Within top quartile of German dividend payers (3.3%). Higher than average of industry peers (2.8%).
Recent Insider Transactions • Nov 12Insider recently sold €113k worth of stockOn the 9th of November, John Collich sold around 3k shares on-market at roughly €44.38 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €112k more than they bought in the last 12 months.
Reported Earnings • Nov 06Third quarter 2021 earnings released: EPS US$0.44 (vs US$0.28 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$60.3m (up 6.2% from 3Q 2020). Net income: US$10.3m (up 57% from 3Q 2020). Profit margin: 17% (up from 12% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has remained flat, which means it is well ahead of earnings.
Upcoming Dividend • Oct 07Upcoming dividend of US$0.55 per shareEligible shareholders must have bought the stock before 14 October 2021. Payment date: 29 October 2021. Trailing yield: 4.8%. Within top quartile of German dividend payers (3.3%). Higher than average of industry peers (3.4%).
Reported Earnings • Aug 08Second quarter 2021 earnings released: FFO US$1.11 per share (vs US$0.86 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$60.0m (up 13% from 2Q 2020). Funds from operations (FFO): US$26.0m (up 30% from 2Q 2020). FFO margin: 43% (up from 38% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 7% per year.
Upcoming Dividend • Jul 08Upcoming dividend of US$0.55 per shareEligible shareholders must have bought the stock before 15 July 2021. Payment date: 30 July 2021. Trailing yield: 4.9%. Within top quartile of German dividend payers (3.1%). Higher than average of industry peers (3.3%).
Reported Earnings • May 09First quarter 2021 earnings releasedThe company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: US$58.7m (up 3.1% from 1Q 2020). Funds from operations (FFO): US$22.7m (down 10% from 1Q 2020). FFO margin: 39% (down from 45% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 4% per year.
Upcoming Dividend • Apr 07Upcoming dividend of US$0.53 per shareEligible shareholders must have bought the stock before 14 April 2021. Payment date: 30 April 2021. Trailing yield: 5.2%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (3.5%).
Valuation Update With 7 Day Price Move • Mar 09Investor sentiment improved over the past weekAfter last week's 17% share price gain to US$34.60, the stock is trading at a trailing P/E ratio of 33.8x, up from the previous P/E ratio of 28.9x. This compares to an average P/E of 12x in the REITs industry in Germany. Total returns to shareholders over the past three years were flat.
Reported Earnings • Feb 27Full year 2020 earnings released: FFO US$3.85 per share (vs US$4.13 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: US$225.2m (down 2.7% from FY 2019). Funds from operations (FFO): US$90.0m (down 5.4% from FY 2019). FFO margin: 40% (down from 41% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 10% per year.
Is New 90 Day High Low • Feb 19New 90-day high: €28.20The company is up 12% from its price of €25.20 on 20 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is down 5.0% over the same period.
Is New 90 Day High Low • Nov 17New 90-day high: €25.40The company is up 6.0% from its price of €24.00 on 19 August 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is down 2.0% over the same period.
Valuation Update With 7 Day Price Move • Nov 13Market bids up stock over the past weekAfter last week's 17% share price gain to US$23.60, the stock is trading at a trailing P/E ratio of 22.8x, up from the previous P/E ratio of 19.6x. This compares to an average P/E of 10x in the REITs industry in Germany. Total return to shareholders over the past three years is a loss of 48%.
Reported Earnings • Nov 07Third quarter 2020 earnings released: EPS US$0.28The company reported a poor third quarter result with weaker earnings and profit margins, although revenues were flat. Third quarter 2020 results: Revenue: US$56.8m (flat on 3Q 2019). Net income: US$6.57m (down 27% from 3Q 2019). Profit margin: 12% (down from 16% in 3Q 2019). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 27% per year, which means it is performing significantly worse than earnings.
Recent Insider Transactions • Sep 26President recently bought €213k worth of stockOn the 22nd of September, Bernard Saul bought around 10k shares on-market at roughly €21.30 per share. In the last 3 months, they made an even bigger purchase worth €485k. Bernard has been a buyer over the last 12 months, purchasing a net total of €984k worth in shares.
