Saul Centers（BFS）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、現在、(a) 約1,050万平方フィートの賃貸可能面積を持つ59のコミュニティ・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、複合施設、(b) 3つの土地・開発物件を含む62の不動産ポートフォリオを運営・管理している。 詳細BFS 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19.4%で取引されている 6.85%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BFS Community Fair Values Create NarrativeSee what 10 others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair ValueUS$Current PriceUS$34.4485.3% 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Alexander'sSymbol: NYSE:ALXMarket cap: US$1.3bWhitestone REITSymbol: NYSE:WSRMarket cap: US$987.5mCBL & Associates PropertiesSymbol: NYSE:CBLMarket cap: US$1.5bCIM Real Estate Finance TrustSymbol: OTCPK:CMRFMarket cap: US$1.0b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$34.4452週高値US$35.7552週安値US$29.16ベータ0.901ヶ月の変化1.89%3ヶ月変化-1.40%1年変化5.71%3年間の変化2.11%5年間の変化-21.19%IPOからの変化72.20%最新ニュースNew Risk • May 15New major risk - Revenue and earnings growthEarnings have declined by 1.8% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 (1.7x net interest cover). Earnings have declined by 1.8% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (8.7% net profit margin).Buy Or Sell Opportunity • May 11Now 21% undervaluedThe stock has been flat over the last 90 days, currently trading at US$34.44. The fair value is estimated to be US$43.55, 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%. Revenue is forecast to grow by 7.6% in 2 years. Earnings are forecast to grow by 92% in the next 2 years.Reported Earnings • May 11First quarter 2026 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2026 results: FFO per share: US$1.0 (up from US$1.02 in 1Q 2025). Revenue: US$78.3m (up 8.9% from 1Q 2025). Funds from operations (FFO): US$25.2m (up 2.4% from 1Q 2025). FFO margin: 32% (down from 34% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.2%. Earnings per share (EPS) also surpassed analyst estimates by 100%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Retail REITs industry in the US. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.Major Estimate Revision • Apr 10Consensus EPS estimates fall by 44%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from US$1.02 to US$0.57 per share. Revenue forecast steady at US$304.2m. Net income forecast to grow 45% next year vs 13% decline forecast for Retail REITs industry in the US. Consensus price target down from US$45.50 to US$43.50. Share price rose 2.4% to US$33.87 over the past week.Buy Or Sell Opportunity • Apr 09Now 20% undervaluedOver the last 90 days, the stock has risen 4.2% to US$33.66. The fair value is estimated to be US$42.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Earnings per share has declined by 11%. For the next 3 years, revenue is forecast to grow by 4.1% per annum. Earnings are also forecast to grow by 23% per annum over the same time period.Upcoming Dividend • Apr 08Upcoming dividend of US$0.59 per shareEligible shareholders must have bought the stock before 15 April 2026. Payment date: 30 April 2026. Trailing yield: 7.0%. Within top quartile of American dividend payers (4.3%). Higher than average of industry peers (4.6%).最新情報をもっと見るRecent updatesNew Risk • May 15New major risk - Revenue and earnings growthEarnings have declined by 1.8% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 (1.7x net interest cover). Earnings have declined by 1.8% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (8.7% net profit margin).Buy Or Sell Opportunity • May 11Now 21% undervaluedThe stock has been flat over the last 90 days, currently trading at US$34.44. The fair value is estimated to be US$43.55, 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%. Revenue is forecast to grow by 7.6% in 2 years. Earnings are forecast to grow by 92% in the next 2 years.Reported Earnings • May 11First quarter 2026 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2026 results: FFO per share: US$1.0 (up from US$1.02 in 1Q 2025). Revenue: US$78.3m (up 8.9% from 1Q 2025). Funds from operations (FFO): US$25.2m (up 2.4% from 1Q 2025). FFO margin: 32% (down from 34% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.2%. Earnings per share (EPS) also surpassed analyst estimates by 100%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Retail REITs industry in the US. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.Major Estimate Revision • Apr 10Consensus EPS estimates fall by 44%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from US$1.02 to US$0.57 per share. Revenue forecast steady at US$304.2m. Net income forecast to grow 45% next year vs 13% decline forecast for Retail REITs industry in the US. Consensus price target down from US$45.50 to US$43.50. Share price rose 2.4% to US$33.87 over the past week.Buy Or Sell Opportunity • Apr 09Now 20% undervaluedOver the last 90 days, the stock has risen 4.2% to US$33.66. The fair value is estimated to be US$42.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Earnings per share has declined by 11%. For the next 3 years, revenue is forecast to grow by 4.1% per annum. Earnings are also forecast to grow by 23% per annum over the same time period.Upcoming Dividend • Apr 08Upcoming dividend of US$0.59 per shareEligible shareholders must have bought the stock before 15 April 2026. Payment date: 30 April 2026. Trailing yield: 7.0%. Within top quartile of American dividend payers (4.3%). Higher than average of industry peers (4.6%).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 StatesDeclared Dividend • Mar 19Fourth quarter dividend of US$0.59 announcedDividend of US$0.59 is the same as last year. Ex-date: 15th April 2026 Payment date: 30th April 2026 Dividend yield will be 7.1%, which is higher than the industry average of 5.2%.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.Buy Or Sell Opportunity • Mar 10Now 20% undervaluedOver the last 90 days, the stock has risen 9.5% to US$34.06. The fair value is estimated to be US$42.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Earnings per share has declined by 11%. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to grow by 119% in the next 2 years.Reported Earnings • Mar 02Full year 2025 earnings: EPS misses analyst expectationsFull year 2025 results: FFO per share: US$4.0 (down from US$4.43 in FY 2024). Revenue: US$289.8m (up 7.8% from FY 2024). Funds from operations (FFO): US$96.7m (down 9.5% from FY 2024). FFO margin: 33% (down from 40% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.9%. Revenue is forecast to grow 5.9% p.a. on average during the next 2 years, compared to a 4.4% growth forecast for the Retail REITs industry in the US. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.Upcoming Dividend • Jan 08Upcoming dividend of US$0.59 per shareEligible shareholders must have bought the stock before 15 January 2026. Payment date: 30 January 2026. Trailing yield: 7.3%. Within top quartile of American dividend payers (4.4%). Higher than average of industry peers (4.9%).Price Target Changed • Dec 10Price target decreased by 9.3% to US$44.00Down from US$48.50, the current price target is provided by 1 analyst. New target price is 41% above last closing price of US$31.11. Stock is down 23% over the past year. The company is forecast to post earnings per share of US$1.21 for next year compared to US$1.64 last year.Declared Dividend • Dec 08Third quarter dividend of US$0.59 announcedDividend of US$0.59 is the same as last year. Ex-date: 15th January 2026 Payment date: 30th January 2026 Dividend yield will be 7.8%, which is higher than the industry average of 5.2%.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.Reported Earnings • Nov 07Third quarter 2025 earnings: EPS and revenues exceed analyst expectationsThird quarter 2025 results: EPS: US$0.32 (down from US$0.48 in 3Q 2024). Revenue: US$72.0m (up 7.0% from 3Q 2024). Net income: US$7.69m (down 34% from 3Q 2024). Profit margin: 11% (down from 17% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 39%. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Retail REITs industry in the US. 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 11% per year.Upcoming Dividend • Oct 10Upcoming dividend of US$0.59 per shareEligible shareholders must have bought the stock before 15 October 2025. Payment date: 31 October 2025. Trailing yield: 7.8%. Within top quartile of American dividend payers (4.5%). Higher than average of industry peers (4.9%).Seeking Alpha • Oct 02Saul Centers: Attractive Despite DC Exposure (Upgrade)Summary Saul Centers shares have underperformed, falling 23% in the past year, despite meeting financial expectations and maintaining a stable core business. BFS faces investor concerns due to its heavy Washington, D.C./Baltimore exposure, with federal government cutbacks posing regional economic risks. Recent results reflect accounting changes and project ramp-up costs, but Twinbrook and Hampden House expansions are expected to drive earnings growth by year-end. At 11x FFO and a 7.4% yield, BFS is now attractively valued, offering a potential 20% total return and a compelling "Buy" opportunity. Read the full article on Seeking AlphaDeclared Dividend • Sep 26Second quarter dividend of US$0.59 announcedDividend of US$0.59 is the same as last year. Ex-date: 15th October 2025 Payment date: 31st October 2025 Dividend yield will be 7.4%, which is higher than the industry average of 5.2%.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.Reported Earnings • Aug 10Second quarter 2025 earnings released: FFO per share: US$1.1 (vs US$1.18 in 2Q 2024)Second quarter 2025 results: FFO per share: US$1.1 (down from US$1.18 in 2Q 2024). Revenue: US$70.8m (up 5.8% from 2Q 2024). Funds from operations (FFO): US$25.4m (down 11% from 2Q 2024). FFO margin: 36% (down from 43% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Retail REITs industry in the US. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings.Upcoming Dividend • Jul 08Upcoming dividend of US$0.59 per shareEligible shareholders must have bought the stock before 15 July 2025. Payment date: 31 July 2025. Trailing yield: 6.9%. Within top quartile of American dividend payers (4.6%). Higher than average of industry peers (5.0%).Declared Dividend • Jun 16First quarter dividend of US$0.59 announcedDividend of US$0.59 is the same as last year. Ex-date: 15th July 2025 Payment date: 31st July 2025 Dividend yield will be 6.9%, which is higher than the industry average of 5.2%.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.Recent Insider Transactions • May 18Chairman & CEO recently bought US$335k worth of stockOn the 14th of May, Bernard Saul bought around 10k shares on-market at roughly US$33.49 per share. This transaction amounted to 1.9% of their direct individual holding at the time of the trade. 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 09First quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2025 results: FFO per share: US$1.0 (down from US$1.14 in 1Q 2024). Revenue: US$71.9m (up 7.7% from 1Q 2024). Funds from operations (FFO): US$24.6m (down 11% from 1Q 2024). FFO margin: 34% (down from 41% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 3.3% growth forecast for the Retail REITs industry in the US. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings.Buy Or Sell Opportunity • Apr 23Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 9.1% to US$32.91. The fair value is estimated to be US$41.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Earnings per share has grown by 2.5%. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to decline by 20% in the next 2 years.Upcoming Dividend • Apr 08Upcoming dividend of US$0.59 per shareEligible shareholders must have bought the stock before 15 April 2025. Payment date: 30 April 2025. Trailing yield: 7.3%. Within top quartile of American dividend payers (5.1%). Higher than average of industry peers (5.5%).Buy Or Sell Opportunity • Apr 07Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 12% to US$33.05. The fair value is estimated to be US$42.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Earnings per share has grown by 2.5%. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to decline by 20% in the next 2 years.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 StatesDeclared Dividend • Mar 10Fourth quarter dividend of US$0.59 announcedDividend of US$0.59 is the same as last year. Ex-date: 15th April 2025 Payment date: 30th April 2025 Dividend yield will be 6.4%, which is higher than the industry average of 5.2%.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.Seeking Alpha • Mar 06Saul Centers: Mixed Q4 And DC Headwinds Limit UpsideSummary Saul Centers has underperformed over the past decade, with shares losing 35% and facing headwinds from federal government downsizing in the DC/Baltimore area. The company’s Q4 results were impacted by project accounting, with a significant increase in costs due to the completion of Twinbrook Quarter Phase 1. High occupancy rates are offset by cost inflation and office space weakness, limiting the potential for same property growth and dividend increases. The large Saul family stake and lack of investor outreach hinder institutional demand, making meaningful multiple expansion unlikely; accordingly, shares are rated as a "hold." Read the full article on Seeking AlphaReported Earnings • Mar 02Full year 2024 earnings: EPS misses analyst expectationsFull year 2024 results: EPS: US$1.64 (down from US$1.73 in FY 2023). Revenue: US$268.8m (up 4.5% from FY 2023). Net income: US$39.5m (down 4.9% from FY 2023). Profit margin: 15% (down from 16% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.7%. Revenue is forecast to grow 6.5% p.a. on average during the next 2 years, compared to a 3.1% growth forecast for the Retail REITs industry in the US. 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 7% per year, which means it is significantly lagging earnings.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.Upcoming Dividend • Jan 08Upcoming dividend of US$0.59 per shareEligible shareholders must have bought the stock before 15 January 2025. Payment date: 31 January 2025. Trailing yield: 6.3%. Within top quartile of American dividend payers (4.5%). Higher than average of industry peers (4.9%).Price Target Changed • Dec 17Price target increased by 8.0% to US$47.00Up from US$43.50, the current price target is provided by 1 analyst. New target price is 17% above last closing price of US$40.17. Stock is down 0.6% over the past year. The company is forecast to post earnings per share of US$1.71 for next year compared to US$1.73 last year.New Risk • Dec 09New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.3% 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 (2.5x 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 (4.3% increase in shares outstanding).Declared Dividend • Dec 08Third quarter dividend of US$0.59 announcedDividend of US$0.59 is the same as last year. Ex-date: 15th January 2025 Payment date: 31st January 2025 Dividend yield will be 5.9%, which is higher than the industry average of 5.2%.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.Seeking Alpha • Dec 04Saul Centers: Access To Affluent Shoppers Will Fuel GrowthSummary Saul Centers, a mid-cap REIT, is now trading at a discount, making it an attractive investment for its Washington DC properties. The company has a strong dividend yield of 6% and stable growth potential, primarily through rental rate increases. Saul's high insider ownership and low market communication make it unique, but also slightly riskier due to high leverage. Overall, Saul Centers is a potential buy, especially if it becomes cheaper or shows signs of imminent M&A activity. Read the full article on Seeking AlphaNew Risk • Nov 27New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.3% 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 (2.5x 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 (4.3% increase in shares outstanding).Reported Earnings • Nov 08Third quarter 2024 earnings: EPS and revenues exceed analyst expectationsThird 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 exceeded analyst estimates by 2.3%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 4.9% p.a. on average during the next 2 years, compared to a 3.1% growth forecast for the Retail REITs industry in the US. 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 6% per year, which means it is significantly lagging earnings.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 American dividend payers (4.3%). Higher than average of industry peers (4.7%).Declared Dividend • Sep 23Second quarter dividend of US$0.59 announcedDividend of US$0.59 is the same as last year. Ex-date: 15th October 2024 Payment date: 31st October 2024 Dividend yield will be 5.9%, which is higher than the industry average of 5.2%.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 • 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).Reported Earnings • Aug 02Second quarter 2024 earnings: EPS and revenues exceed analyst expectationsSecond 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 exceeded analyst estimates by 2.1%. Earnings per share (EPS) also surpassed analyst estimates by 23%. Revenue is forecast to grow 4.8% p.a. on average during the next 2 years, compared to a 3.8% growth forecast for the Retail REITs industry in the US. 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 6% per year, which means it is significantly lagging earnings.Seeking Alpha • Aug 02Saul Centers: A 6% Yielding Shopping Center REIT Great For Income-Oriented InvestorsSummary Saul Centers is a reliable income option for income-oriented investors, offering a decent yield of roughly 6% and solid fundamentals. Despite a flat share price, Saul Centers has strong dividend coverage, growth potential, and an attractive valuation for long-term income-focused investors. The REIT's well-laddered debt maturities, strong dividend profile, and potential for growth make it a solid choice for long-term income investors. Risks with Saul Centers include their upcoming lease expirations in 2025 and their office properties leasing average below their 10-year average. Wall Street rates Saul Centers a strong buy with a price target of $43.50. Read the full article on Seeking AlphaUpcoming 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 American dividend payers (4.8%). Higher than average of industry peers (5.3%).Declared Dividend • Jun 24First quarter dividend of US$0.59 announcedDividend of US$0.59 is the same as last year. Ex-date: 15th July 2024 Payment date: 31st July 2024 Dividend yield will be 6.5%, which is higher than the industry average of 5.2%.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 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).Major Estimate Revision • May 15Consensus EPS estimates increase by 14%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from US$259.5m to US$264.7m. EPS estimate increased from US$1.39 to US$1.59 per share. Net income forecast to shrink 13% next year vs 0.1% decline forecast for Retail REITs industry in the US. Consensus price target of US$43.50 unchanged from last update. Share price rose 3.4% to US$37.31 over the past week.Reported Earnings • May 03First quarter 2024 earnings: EPS and revenues exceed analyst expectationsFirst 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 exceeded analyst estimates by 3.5%. Earnings per share (EPS) also surpassed analyst estimates by 22%. Revenue is forecast to grow 3.8% p.a. on average during the next 2 years, compared to a 3.5% growth forecast for the Retail REITs industry in the US. 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 6% per year, which means it is significantly lagging earnings.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 American dividend payers (4.7%). Higher than average of industry peers (5.2%).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.Declared Dividend • Mar 18Fourth quarter dividend of US$0.59 announcedDividend of US$0.59 is the same as last year. Ex-date: 12th April 2024 Payment date: 30th April 2024 Dividend yield will be 6.4%, which is higher than the industry average of 5.2%.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.Seeking Alpha • Mar 13Saul Centers: An Overlooked Shopping Center REIT Income Investors Should ConsiderSummary Saul Centers is a shopping center REIT with a portfolio of 61 properties, primarily located in the Northeastern US, with a focus on the metropolitan Baltimore/D.C. area. The company has shown resilience in the face of economic challenges, with increased revenue, net income, and FFO year-over-year. Saul Centers is focusing on apartment development, which is expected to strengthen its financials and cater to the growing demand for rentals. The company's balance sheet also remain strong with well-laddered debt maturities, with only $50 million debt maturing in 2024 and even less in 2025. However, they do face a decent amount of leases expiring over the next two years, which account for a sizable portion of annualized base rent. Read the full article on Seeking AlphaNew 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 10Independent Director recently sold US$236k worth of stockOn the 7th of March, James Lansdale sold around 6k shares on-market at roughly US$37.89 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 US$1.7m 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 fallen by 2% per year, which means it is significantly lagging earnings.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 American dividend payers (4.6%). Higher than average of industry peers (5.0%).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 whereas the company’s share price has increased by 15% per year.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 American dividend payers (5.2%). Higher than average of industry peers (6.1%).Recent Insider Transactions • Sep 22Chairman & CEO recently bought US$369k worth of stockOn the 21st of September, Bernard Saul bought around 10k shares on-market at roughly US$36.94 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 US$1.8m worth in shares.Seeking Alpha • Sep 21Saul Centers: Safe Yield, Attractive UpsideSummary Saul Centers is a retail REIT that focuses on the acquisition, development, and management of shopping centers, as well as mixed-use assets. Despite the lack of specific growth drivers, the market in which it operates along with its resilient tenant base can preserve present profitability. Given its high but safe dividend yield and significant NAV discount, BFS represents a get-paid-to-wait opportunity. Read the full article on Seeking AlphaPrice Target Changed • Aug 13Price target increased by 7.9% to US$41.00Up from US$38.00, the current price target is provided by 1 analyst. New target price is 5.8% above last closing price of US$38.76. Stock is down 23% over the past year. The company posted earnings per share of US$1.63 last year.Recent Insider Transactions • Aug 13Chairman & CEO recently bought US$242k worth of stockOn the 9th of August, Bernard Saul bought around 6k shares on-market at roughly US$37.51 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 US$1.3m worth in shares.New Risk • Aug 05New minor risk - Dividend sustainabilityThe dividend is not well covered by earnings. Payout ratio: 137% Dividend yield: 6.5% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. 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 Dividend is not well covered by earnings (137% payout ratio).Reported Earnings • Aug 04Second 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 3.2% growth forecast for the Retail REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.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 American dividend payers (5.0%). Higher than average of industry peers (5.2%).Recent Insider Transactions • May 12President & COO recently bought US$116k worth of stockOn the 9th of May, David Pearson bought around 4k shares on-market at roughly US$33.00 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 US$364k. 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 3.7% growth forecast for the Retail REITs industry in the US. 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 2% 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 American dividend payers (4.9%). Higher than average of industry peers (5.3%).Recent Insider Transactions • Mar 30Chairman & CEO recently bought US$364k worth of stockOn the 23rd of March, Bernard Saul bought around 10k shares on-market at roughly US$36.35 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 US$794k worth in shares.Recent Insider Transactions • Mar 24Chairman & CEO recently bought US$104k worth of stockOn the 16th of March, Bernard Saul bought around 3k shares on-market at roughly US$36.84 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 US$266k. Bernard has been a buyer over the last 12 months, purchasing a net total of US$430k worth in shares.Price Target Changed • Mar 10Price target decreased by 14% to US$42.00Down from US$49.00, the current price target is provided by 1 analyst. New target price is 10% above last closing price of US$38.07. Stock is down 18% over the past year. The company posted earnings per share of US$1.63 last year.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 5.8% growth forecast for the REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.Buying Opportunity • Jan 31Now 20% undervaluedThe stock has been flat over the last 90 days. The fair value is estimated to be US$51.73, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 2.8%. Revenue is forecast to grow by 2.3% in a year. Earnings is forecast to grow by 0.1% in the next year.Buying Opportunity • Jan 14Now 20% undervaluedOver the last 90 days, the stock is up 11%. The fair value is estimated to be US$51.92, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 2.8%. Revenue is forecast to grow by 2.3% in a year. Earnings is forecast to grow by 0.1% in the next year.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 American dividend payers (4.4%). Higher than average of industry peers (3.9%).Seeking Alpha • Dec 09Saul Centers declares $0.59 dividendSaul Centers (NYSE:BFS) declares $0.59/share quarterly dividend, in line with previous. Forward yield 5.69% Payable Jan. 31; for shareholders of record Jan. 17; ex-div Jan. 13. See BFS Dividend Scorecard, Yield Chart, & Dividend Growth.Price Target Changed • Nov 21Price target decreased to US$49.00Down from US$53.33, the current price target is an average from 3 analysts. New target price is 13% above last closing price of US$43.38. Stock is down 19% over the past year. The company posted earnings per share of US$1.57 last year.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 09Third 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 6.8% growth forecast for the REITs industry in the US. 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 7% per year, which means it is significantly lagging earnings.Seeking Alpha • Nov 08Saul Centers reports Q3 resultsSaul Centers press release (NYSE:BFS): Q3 FFO of $0.73 per share. GAAP EPS of $0.38 Revenue of $59.95M (+1.5% Y/Y).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: 6.5%. Within top quartile of American dividend payers (4.6%). Higher than average of industry peers (4.1%).Seeking Alpha • Sep 22Saul Centers declares $0.59 dividendSaul Centers (NYSE:BFS) declares $0.59/share quarterly dividend, in line with previous. Forward yield 6.05% Payable Oct. 31; for shareholders of record Oct. 17; ex-div Oct. 14. See BFS Dividend Scorecard, Yield Chart, & Dividend Growth.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%, compared to a 7.9% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 3% per year.株主還元BFSUS Retail REITsUS 市場7D3.0%1.6%-0.8%1Y5.7%20.2%27.1%株主還元を見る業界別リターン: BFS過去 1 年間で20.2 % の収益を上げたUS Retail REITs業界を下回りました。リターン対市場: BFSは、過去 1 年間で27.1 % のリターンを上げたUS市場を下回りました。価格変動Is BFS's price volatile compared to industry and market?BFS volatilityBFS Average Weekly Movement2.6%Retail REITs Industry Average Movement2.5%Market Average Movement7.2%10% most volatile stocks in US Market16.3%10% least volatile stocks in US Market3.2%安定した株価: BFS 、 US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: BFS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、(a) 約1,050万平方フィートの賃貸可能面積を持つ59のコミュニティ・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、複合施設、(b) 3つの土地開発物件を含む62の不動産ポートフォリオを運営・管理している。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/ボルチモア大都市圏の物件から得られている。ソール・センターズは1993年6月10日に設立され、米国メリーランド州で法人化された。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。BFS 基礎統計学時価総額US$1.20b収益（TTM）US$25.64m売上高(TTM)US$296.25m33.0xPER（株価収益率2.9xP/SレシオBFS 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BFS 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%BFS 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6.9%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2026/05/21 08:26終値2026/05/21 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
New Risk • May 15New major risk - Revenue and earnings growthEarnings have declined by 1.8% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 (1.7x net interest cover). Earnings have declined by 1.8% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (8.7% net profit margin).
Buy Or Sell Opportunity • May 11Now 21% undervaluedThe stock has been flat over the last 90 days, currently trading at US$34.44. The fair value is estimated to be US$43.55, 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%. Revenue is forecast to grow by 7.6% in 2 years. Earnings are forecast to grow by 92% in the next 2 years.
Reported Earnings • May 11First quarter 2026 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2026 results: FFO per share: US$1.0 (up from US$1.02 in 1Q 2025). Revenue: US$78.3m (up 8.9% from 1Q 2025). Funds from operations (FFO): US$25.2m (up 2.4% from 1Q 2025). FFO margin: 32% (down from 34% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.2%. Earnings per share (EPS) also surpassed analyst estimates by 100%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Retail REITs industry in the US. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.
Major Estimate Revision • Apr 10Consensus EPS estimates fall by 44%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from US$1.02 to US$0.57 per share. Revenue forecast steady at US$304.2m. Net income forecast to grow 45% next year vs 13% decline forecast for Retail REITs industry in the US. Consensus price target down from US$45.50 to US$43.50. Share price rose 2.4% to US$33.87 over the past week.
Buy Or Sell Opportunity • Apr 09Now 20% undervaluedOver the last 90 days, the stock has risen 4.2% to US$33.66. The fair value is estimated to be US$42.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Earnings per share has declined by 11%. For the next 3 years, revenue is forecast to grow by 4.1% per annum. Earnings are also forecast to grow by 23% per annum over the same time period.
Upcoming Dividend • Apr 08Upcoming dividend of US$0.59 per shareEligible shareholders must have bought the stock before 15 April 2026. Payment date: 30 April 2026. Trailing yield: 7.0%. Within top quartile of American dividend payers (4.3%). Higher than average of industry peers (4.6%).
New Risk • May 15New major risk - Revenue and earnings growthEarnings have declined by 1.8% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 (1.7x net interest cover). Earnings have declined by 1.8% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (8.7% net profit margin).
Buy Or Sell Opportunity • May 11Now 21% undervaluedThe stock has been flat over the last 90 days, currently trading at US$34.44. The fair value is estimated to be US$43.55, 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%. Revenue is forecast to grow by 7.6% in 2 years. Earnings are forecast to grow by 92% in the next 2 years.
Reported Earnings • May 11First quarter 2026 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2026 results: FFO per share: US$1.0 (up from US$1.02 in 1Q 2025). Revenue: US$78.3m (up 8.9% from 1Q 2025). Funds from operations (FFO): US$25.2m (up 2.4% from 1Q 2025). FFO margin: 32% (down from 34% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.2%. Earnings per share (EPS) also surpassed analyst estimates by 100%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Retail REITs industry in the US. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.
Major Estimate Revision • Apr 10Consensus EPS estimates fall by 44%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from US$1.02 to US$0.57 per share. Revenue forecast steady at US$304.2m. Net income forecast to grow 45% next year vs 13% decline forecast for Retail REITs industry in the US. Consensus price target down from US$45.50 to US$43.50. Share price rose 2.4% to US$33.87 over the past week.
Buy Or Sell Opportunity • Apr 09Now 20% undervaluedOver the last 90 days, the stock has risen 4.2% to US$33.66. The fair value is estimated to be US$42.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Earnings per share has declined by 11%. For the next 3 years, revenue is forecast to grow by 4.1% per annum. Earnings are also forecast to grow by 23% per annum over the same time period.
Upcoming Dividend • Apr 08Upcoming dividend of US$0.59 per shareEligible shareholders must have bought the stock before 15 April 2026. Payment date: 30 April 2026. Trailing yield: 7.0%. Within top quartile of American dividend payers (4.3%). Higher than average of industry peers (4.6%).
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
Declared Dividend • Mar 19Fourth quarter dividend of US$0.59 announcedDividend of US$0.59 is the same as last year. Ex-date: 15th April 2026 Payment date: 30th April 2026 Dividend yield will be 7.1%, which is higher than the industry average of 5.2%.
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.
Buy Or Sell Opportunity • Mar 10Now 20% undervaluedOver the last 90 days, the stock has risen 9.5% to US$34.06. The fair value is estimated to be US$42.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Earnings per share has declined by 11%. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to grow by 119% in the next 2 years.
Reported Earnings • Mar 02Full year 2025 earnings: EPS misses analyst expectationsFull year 2025 results: FFO per share: US$4.0 (down from US$4.43 in FY 2024). Revenue: US$289.8m (up 7.8% from FY 2024). Funds from operations (FFO): US$96.7m (down 9.5% from FY 2024). FFO margin: 33% (down from 40% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.9%. Revenue is forecast to grow 5.9% p.a. on average during the next 2 years, compared to a 4.4% growth forecast for the Retail REITs industry in the US. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.
Upcoming Dividend • Jan 08Upcoming dividend of US$0.59 per shareEligible shareholders must have bought the stock before 15 January 2026. Payment date: 30 January 2026. Trailing yield: 7.3%. Within top quartile of American dividend payers (4.4%). Higher than average of industry peers (4.9%).
Price Target Changed • Dec 10Price target decreased by 9.3% to US$44.00Down from US$48.50, the current price target is provided by 1 analyst. New target price is 41% above last closing price of US$31.11. Stock is down 23% over the past year. The company is forecast to post earnings per share of US$1.21 for next year compared to US$1.64 last year.
Declared Dividend • Dec 08Third quarter dividend of US$0.59 announcedDividend of US$0.59 is the same as last year. Ex-date: 15th January 2026 Payment date: 30th January 2026 Dividend yield will be 7.8%, which is higher than the industry average of 5.2%.
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.
Reported Earnings • Nov 07Third quarter 2025 earnings: EPS and revenues exceed analyst expectationsThird quarter 2025 results: EPS: US$0.32 (down from US$0.48 in 3Q 2024). Revenue: US$72.0m (up 7.0% from 3Q 2024). Net income: US$7.69m (down 34% from 3Q 2024). Profit margin: 11% (down from 17% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 39%. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Retail REITs industry in the US. 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 11% per year.
Upcoming Dividend • Oct 10Upcoming dividend of US$0.59 per shareEligible shareholders must have bought the stock before 15 October 2025. Payment date: 31 October 2025. Trailing yield: 7.8%. Within top quartile of American dividend payers (4.5%). Higher than average of industry peers (4.9%).
Seeking Alpha • Oct 02Saul Centers: Attractive Despite DC Exposure (Upgrade)Summary Saul Centers shares have underperformed, falling 23% in the past year, despite meeting financial expectations and maintaining a stable core business. BFS faces investor concerns due to its heavy Washington, D.C./Baltimore exposure, with federal government cutbacks posing regional economic risks. Recent results reflect accounting changes and project ramp-up costs, but Twinbrook and Hampden House expansions are expected to drive earnings growth by year-end. At 11x FFO and a 7.4% yield, BFS is now attractively valued, offering a potential 20% total return and a compelling "Buy" opportunity. Read the full article on Seeking Alpha
Declared Dividend • Sep 26Second quarter dividend of US$0.59 announcedDividend of US$0.59 is the same as last year. Ex-date: 15th October 2025 Payment date: 31st October 2025 Dividend yield will be 7.4%, which is higher than the industry average of 5.2%.
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.
Reported Earnings • Aug 10Second quarter 2025 earnings released: FFO per share: US$1.1 (vs US$1.18 in 2Q 2024)Second quarter 2025 results: FFO per share: US$1.1 (down from US$1.18 in 2Q 2024). Revenue: US$70.8m (up 5.8% from 2Q 2024). Funds from operations (FFO): US$25.4m (down 11% from 2Q 2024). FFO margin: 36% (down from 43% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Retail REITs industry in the US. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings.
Upcoming Dividend • Jul 08Upcoming dividend of US$0.59 per shareEligible shareholders must have bought the stock before 15 July 2025. Payment date: 31 July 2025. Trailing yield: 6.9%. Within top quartile of American dividend payers (4.6%). Higher than average of industry peers (5.0%).
Declared Dividend • Jun 16First quarter dividend of US$0.59 announcedDividend of US$0.59 is the same as last year. Ex-date: 15th July 2025 Payment date: 31st July 2025 Dividend yield will be 6.9%, which is higher than the industry average of 5.2%.
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.
Recent Insider Transactions • May 18Chairman & CEO recently bought US$335k worth of stockOn the 14th of May, Bernard Saul bought around 10k shares on-market at roughly US$33.49 per share. This transaction amounted to 1.9% of their direct individual holding at the time of the trade. 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 09First quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2025 results: FFO per share: US$1.0 (down from US$1.14 in 1Q 2024). Revenue: US$71.9m (up 7.7% from 1Q 2024). Funds from operations (FFO): US$24.6m (down 11% from 1Q 2024). FFO margin: 34% (down from 41% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 3.3% growth forecast for the Retail REITs industry in the US. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings.
Buy Or Sell Opportunity • Apr 23Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 9.1% to US$32.91. The fair value is estimated to be US$41.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Earnings per share has grown by 2.5%. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to decline by 20% in the next 2 years.
Upcoming Dividend • Apr 08Upcoming dividend of US$0.59 per shareEligible shareholders must have bought the stock before 15 April 2025. Payment date: 30 April 2025. Trailing yield: 7.3%. Within top quartile of American dividend payers (5.1%). Higher than average of industry peers (5.5%).
Buy Or Sell Opportunity • Apr 07Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 12% to US$33.05. The fair value is estimated to be US$42.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Earnings per share has grown by 2.5%. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to decline by 20% in the next 2 years.
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
Declared Dividend • Mar 10Fourth quarter dividend of US$0.59 announcedDividend of US$0.59 is the same as last year. Ex-date: 15th April 2025 Payment date: 30th April 2025 Dividend yield will be 6.4%, which is higher than the industry average of 5.2%.
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.
Seeking Alpha • Mar 06Saul Centers: Mixed Q4 And DC Headwinds Limit UpsideSummary Saul Centers has underperformed over the past decade, with shares losing 35% and facing headwinds from federal government downsizing in the DC/Baltimore area. The company’s Q4 results were impacted by project accounting, with a significant increase in costs due to the completion of Twinbrook Quarter Phase 1. High occupancy rates are offset by cost inflation and office space weakness, limiting the potential for same property growth and dividend increases. The large Saul family stake and lack of investor outreach hinder institutional demand, making meaningful multiple expansion unlikely; accordingly, shares are rated as a "hold." Read the full article on Seeking Alpha
Reported Earnings • Mar 02Full year 2024 earnings: EPS misses analyst expectationsFull year 2024 results: EPS: US$1.64 (down from US$1.73 in FY 2023). Revenue: US$268.8m (up 4.5% from FY 2023). Net income: US$39.5m (down 4.9% from FY 2023). Profit margin: 15% (down from 16% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.7%. Revenue is forecast to grow 6.5% p.a. on average during the next 2 years, compared to a 3.1% growth forecast for the Retail REITs industry in the US. 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 7% per year, which means it is significantly lagging earnings.
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.
Upcoming Dividend • Jan 08Upcoming dividend of US$0.59 per shareEligible shareholders must have bought the stock before 15 January 2025. Payment date: 31 January 2025. Trailing yield: 6.3%. Within top quartile of American dividend payers (4.5%). Higher than average of industry peers (4.9%).
Price Target Changed • Dec 17Price target increased by 8.0% to US$47.00Up from US$43.50, the current price target is provided by 1 analyst. New target price is 17% above last closing price of US$40.17. Stock is down 0.6% over the past year. The company is forecast to post earnings per share of US$1.71 for next year compared to US$1.73 last year.
New Risk • Dec 09New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.3% 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 (2.5x 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 (4.3% increase in shares outstanding).
Declared Dividend • Dec 08Third quarter dividend of US$0.59 announcedDividend of US$0.59 is the same as last year. Ex-date: 15th January 2025 Payment date: 31st January 2025 Dividend yield will be 5.9%, which is higher than the industry average of 5.2%.
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.
Seeking Alpha • Dec 04Saul Centers: Access To Affluent Shoppers Will Fuel GrowthSummary Saul Centers, a mid-cap REIT, is now trading at a discount, making it an attractive investment for its Washington DC properties. The company has a strong dividend yield of 6% and stable growth potential, primarily through rental rate increases. Saul's high insider ownership and low market communication make it unique, but also slightly riskier due to high leverage. Overall, Saul Centers is a potential buy, especially if it becomes cheaper or shows signs of imminent M&A activity. Read the full article on Seeking Alpha
New Risk • Nov 27New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.3% 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 (2.5x 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 (4.3% increase in shares outstanding).
Reported Earnings • Nov 08Third quarter 2024 earnings: EPS and revenues exceed analyst expectationsThird 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 exceeded analyst estimates by 2.3%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 4.9% p.a. on average during the next 2 years, compared to a 3.1% growth forecast for the Retail REITs industry in the US. 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 6% per year, which means it is significantly lagging earnings.
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 American dividend payers (4.3%). Higher than average of industry peers (4.7%).
Declared Dividend • Sep 23Second quarter dividend of US$0.59 announcedDividend of US$0.59 is the same as last year. Ex-date: 15th October 2024 Payment date: 31st October 2024 Dividend yield will be 5.9%, which is higher than the industry average of 5.2%.
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 • 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).
Reported Earnings • Aug 02Second quarter 2024 earnings: EPS and revenues exceed analyst expectationsSecond 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 exceeded analyst estimates by 2.1%. Earnings per share (EPS) also surpassed analyst estimates by 23%. Revenue is forecast to grow 4.8% p.a. on average during the next 2 years, compared to a 3.8% growth forecast for the Retail REITs industry in the US. 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 6% per year, which means it is significantly lagging earnings.
Seeking Alpha • Aug 02Saul Centers: A 6% Yielding Shopping Center REIT Great For Income-Oriented InvestorsSummary Saul Centers is a reliable income option for income-oriented investors, offering a decent yield of roughly 6% and solid fundamentals. Despite a flat share price, Saul Centers has strong dividend coverage, growth potential, and an attractive valuation for long-term income-focused investors. The REIT's well-laddered debt maturities, strong dividend profile, and potential for growth make it a solid choice for long-term income investors. Risks with Saul Centers include their upcoming lease expirations in 2025 and their office properties leasing average below their 10-year average. Wall Street rates Saul Centers a strong buy with a price target of $43.50. Read the full article on Seeking Alpha
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 American dividend payers (4.8%). Higher than average of industry peers (5.3%).
Declared Dividend • Jun 24First quarter dividend of US$0.59 announcedDividend of US$0.59 is the same as last year. Ex-date: 15th July 2024 Payment date: 31st July 2024 Dividend yield will be 6.5%, which is higher than the industry average of 5.2%.
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 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).
Major Estimate Revision • May 15Consensus EPS estimates increase by 14%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from US$259.5m to US$264.7m. EPS estimate increased from US$1.39 to US$1.59 per share. Net income forecast to shrink 13% next year vs 0.1% decline forecast for Retail REITs industry in the US. Consensus price target of US$43.50 unchanged from last update. Share price rose 3.4% to US$37.31 over the past week.
Reported Earnings • May 03First quarter 2024 earnings: EPS and revenues exceed analyst expectationsFirst 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 exceeded analyst estimates by 3.5%. Earnings per share (EPS) also surpassed analyst estimates by 22%. Revenue is forecast to grow 3.8% p.a. on average during the next 2 years, compared to a 3.5% growth forecast for the Retail REITs industry in the US. 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 6% per year, which means it is significantly lagging earnings.
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 American dividend payers (4.7%). Higher than average of industry peers (5.2%).
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.
Declared Dividend • Mar 18Fourth quarter dividend of US$0.59 announcedDividend of US$0.59 is the same as last year. Ex-date: 12th April 2024 Payment date: 30th April 2024 Dividend yield will be 6.4%, which is higher than the industry average of 5.2%.
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.
Seeking Alpha • Mar 13Saul Centers: An Overlooked Shopping Center REIT Income Investors Should ConsiderSummary Saul Centers is a shopping center REIT with a portfolio of 61 properties, primarily located in the Northeastern US, with a focus on the metropolitan Baltimore/D.C. area. The company has shown resilience in the face of economic challenges, with increased revenue, net income, and FFO year-over-year. Saul Centers is focusing on apartment development, which is expected to strengthen its financials and cater to the growing demand for rentals. The company's balance sheet also remain strong with well-laddered debt maturities, with only $50 million debt maturing in 2024 and even less in 2025. However, they do face a decent amount of leases expiring over the next two years, which account for a sizable portion of annualized base rent. Read the full article on Seeking Alpha
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 10Independent Director recently sold US$236k worth of stockOn the 7th of March, James Lansdale sold around 6k shares on-market at roughly US$37.89 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 US$1.7m 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 fallen by 2% per year, which means it is significantly lagging earnings.
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 American dividend payers (4.6%). Higher than average of industry peers (5.0%).
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 whereas the company’s share price has increased by 15% per year.
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 American dividend payers (5.2%). Higher than average of industry peers (6.1%).
Recent Insider Transactions • Sep 22Chairman & CEO recently bought US$369k worth of stockOn the 21st of September, Bernard Saul bought around 10k shares on-market at roughly US$36.94 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 US$1.8m worth in shares.
Seeking Alpha • Sep 21Saul Centers: Safe Yield, Attractive UpsideSummary Saul Centers is a retail REIT that focuses on the acquisition, development, and management of shopping centers, as well as mixed-use assets. Despite the lack of specific growth drivers, the market in which it operates along with its resilient tenant base can preserve present profitability. Given its high but safe dividend yield and significant NAV discount, BFS represents a get-paid-to-wait opportunity. Read the full article on Seeking Alpha
Price Target Changed • Aug 13Price target increased by 7.9% to US$41.00Up from US$38.00, the current price target is provided by 1 analyst. New target price is 5.8% above last closing price of US$38.76. Stock is down 23% over the past year. The company posted earnings per share of US$1.63 last year.
Recent Insider Transactions • Aug 13Chairman & CEO recently bought US$242k worth of stockOn the 9th of August, Bernard Saul bought around 6k shares on-market at roughly US$37.51 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 US$1.3m worth in shares.
New Risk • Aug 05New minor risk - Dividend sustainabilityThe dividend is not well covered by earnings. Payout ratio: 137% Dividend yield: 6.5% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. 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 Dividend is not well covered by earnings (137% payout ratio).
Reported Earnings • Aug 04Second 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 3.2% growth forecast for the Retail REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
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 American dividend payers (5.0%). Higher than average of industry peers (5.2%).
Recent Insider Transactions • May 12President & COO recently bought US$116k worth of stockOn the 9th of May, David Pearson bought around 4k shares on-market at roughly US$33.00 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 US$364k. 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 3.7% growth forecast for the Retail REITs industry in the US. 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 2% 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 American dividend payers (4.9%). Higher than average of industry peers (5.3%).
Recent Insider Transactions • Mar 30Chairman & CEO recently bought US$364k worth of stockOn the 23rd of March, Bernard Saul bought around 10k shares on-market at roughly US$36.35 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 US$794k worth in shares.
Recent Insider Transactions • Mar 24Chairman & CEO recently bought US$104k worth of stockOn the 16th of March, Bernard Saul bought around 3k shares on-market at roughly US$36.84 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 US$266k. Bernard has been a buyer over the last 12 months, purchasing a net total of US$430k worth in shares.
Price Target Changed • Mar 10Price target decreased by 14% to US$42.00Down from US$49.00, the current price target is provided by 1 analyst. New target price is 10% above last closing price of US$38.07. Stock is down 18% over the past year. The company posted earnings per share of US$1.63 last year.
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 5.8% growth forecast for the REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.
Buying Opportunity • Jan 31Now 20% undervaluedThe stock has been flat over the last 90 days. The fair value is estimated to be US$51.73, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 2.8%. Revenue is forecast to grow by 2.3% in a year. Earnings is forecast to grow by 0.1% in the next year.
Buying Opportunity • Jan 14Now 20% undervaluedOver the last 90 days, the stock is up 11%. The fair value is estimated to be US$51.92, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 2.8%. Revenue is forecast to grow by 2.3% in a year. Earnings is forecast to grow by 0.1% in the next year.
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 American dividend payers (4.4%). Higher than average of industry peers (3.9%).
Seeking Alpha • Dec 09Saul Centers declares $0.59 dividendSaul Centers (NYSE:BFS) declares $0.59/share quarterly dividend, in line with previous. Forward yield 5.69% Payable Jan. 31; for shareholders of record Jan. 17; ex-div Jan. 13. See BFS Dividend Scorecard, Yield Chart, & Dividend Growth.
Price Target Changed • Nov 21Price target decreased to US$49.00Down from US$53.33, the current price target is an average from 3 analysts. New target price is 13% above last closing price of US$43.38. Stock is down 19% over the past year. The company posted earnings per share of US$1.57 last year.
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 09Third 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 6.8% growth forecast for the REITs industry in the US. 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 7% per year, which means it is significantly lagging earnings.
Seeking Alpha • Nov 08Saul Centers reports Q3 resultsSaul Centers press release (NYSE:BFS): Q3 FFO of $0.73 per share. GAAP EPS of $0.38 Revenue of $59.95M (+1.5% Y/Y).
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: 6.5%. Within top quartile of American dividend payers (4.6%). Higher than average of industry peers (4.1%).
Seeking Alpha • Sep 22Saul Centers declares $0.59 dividendSaul Centers (NYSE:BFS) declares $0.59/share quarterly dividend, in line with previous. Forward yield 6.05% Payable Oct. 31; for shareholders of record Oct. 17; ex-div Oct. 14. See BFS Dividend Scorecard, Yield Chart, & Dividend Growth.
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%, compared to a 7.9% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 3% per year.
