Saul Centers Past Earnings Performance

Past criteria checks 5/6

Saul Centers has been growing earnings at an average annual rate of 3.2%, while the Retail REITs industry saw earnings growing at 12% annually. Revenues have been growing at an average rate of 2.6% per year. Saul Centers's return on equity is 13.5%, and it has net margins of 16%.

Key information

3.2%

Earnings growth rate

1.8%

EPS growth rate

Retail REITs Industry Growth	8.5%
Revenue growth rate	2.6%
Return on equity	13.5%
Net Margin	16.0%
Last Earnings Update	31 Mar 2024

Recent past performance updates

Recent updates

Saul Centers: An Overlooked Shopping Center REIT Income Investors Should Consider

Mar 13

Shareholders Will Probably Not Have Any Issues With Saul Centers, Inc.'s (NYSE:BFS) CEO Compensation

May 02

Saul Centers, Inc. (NYSE:BFS) Delivered A Better ROE Than Its Industry

Feb 17

Saul Centers' (NYSE:BFS) Shareholders Are Down 45% On Their Shares

Jan 13

Saul Centers: Revenue Outlook Remains Positive Despite Retail-Heavy Portfolio

Dec 18

Saul Centers declares $0.53 dividend

Dec 10

Have Insiders Been Buying Saul Centers, Inc. (NYSE:BFS) Shares?

Dec 09

Revenue & Expenses Breakdown
Beta

How Saul Centers makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NYSE:BFS Revenue, expenses and earnings (USD Millions)
Date	Revenue	Earnings	G+A Expenses
31 Mar 24	261	42	24
31 Dec 23	257	41	23
30 Sep 23	253	40	23
30 Jun 23	250	39	23
31 Mar 23	247	39	23
31 Dec 22	246	39	22
30 Sep 22	244	39	22
30 Jun 22	243	41	21
31 Mar 22	243	40	20
31 Dec 21	239	37	20
30 Sep 21	237	34	20
30 Jun 21	234	31	19
31 Mar 21	227	26	19
31 Dec 20	225	29	19
30 Sep 20	224	29	20
30 Jun 20	224	31	21
31 Mar 20	229	36	21
31 Dec 19	232	36	21
30 Sep 19	233	39	20
30 Jun 19	233	40	19
31 Mar 19	231	40	19
31 Dec 18	227	36	18
30 Sep 18	226	35	18
30 Jun 18	225	33	18
31 Mar 18	225	32	18
31 Dec 17	226	36	18
30 Sep 17	222	36	18
30 Jun 17	219	35	18
31 Mar 17	216	34	18
31 Dec 16	214	33	17
30 Sep 16	216	33	17
30 Jun 16	215	33	17
31 Mar 16	214	33	17
31 Dec 15	209	30	16
30 Sep 15	205	27	16
30 Jun 15	203	27	16
31 Mar 15	204	32	16
31 Dec 14	204	32	16
30 Sep 14	205	34	16
30 Jun 14	204	33	15
31 Mar 14	200	23	15
31 Dec 13	198	12	15
30 Sep 13	196	7	15
30 Jun 13	194	5	15

Quality Earnings: BFS has high quality earnings.

Growing Profit Margin: BFS's current net profit margins (16%) are higher than last year (15.9%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: BFS's earnings have grown by 3.2% per year over the past 5 years.

Accelerating Growth: BFS's earnings growth over the past year (6.4%) exceeds its 5-year average (3.2% per year).

Earnings vs Industry: BFS earnings growth over the past year (6.4%) exceeded the Retail REITs industry 5.5%.

Saul Centers Past Earnings Performance

Past criteria checks 5/6

Key information

Recent past performance updates

First quarter 2024 earnings: EPS and revenues exceed analyst expectations

Full year 2023 earnings released: EPS: US$1.73 (vs US$1.63 in FY 2022)

Third quarter 2023 earnings released: EPS: US$0.42 (vs US$0.38 in 3Q 2022)

Second quarter 2023 earnings released: EPS: US$0.43 (vs US$0.43 in 2Q 2022)

First quarter 2023 earnings released: EPS: US$0.45 (vs US$0.44 in 1Q 2022)

Full year 2022 earnings released: EPS: US$1.63 (vs US$1.57 in FY 2021)

Recent updates

First quarter 2024 earnings: EPS and revenues exceed analyst expectations

New major risk - Revenue and earnings growth

Upcoming dividend of US$0.59 per share

Saul Centers, Inc., Annual General Meeting, May 17, 2024

Fourth quarter dividend of US$0.59 announced

Saul Centers, Inc. Declares Quarterly Dividends, Payable on April 30, 2024

Saul Centers: An Overlooked Shopping Center REIT Income Investors Should Consider

New minor risk - Shareholder dilution

Independent Director recently sold US$236k worth of stock

New minor risk - Shareholder dilution

Full year 2023 earnings released: EPS: US$1.73 (vs US$1.63 in FY 2022)

Upcoming dividend of US$0.59 per share at 6.0% yield

Saul Centers Declares Quarterly Dividend Payable on January 31, 2024

Saul Centers, Inc. Announces Executive Changes, Effective December 31, 2023

Third quarter 2023 earnings released: EPS: US$0.42 (vs US$0.38 in 3Q 2022)

Saul Centers, Inc. Announces the Resignation of Christopher H. Netter as Executive Vice President – Leasing, Effective December 31, 2023

Upcoming dividend of US$0.59 per share at 6.8% yield

Chairman & CEO recently bought US$369k worth of stock

Saul Centers: Safe Yield, Attractive Upside

Price target increased by 7.9% to US$41.00

Chairman & CEO recently bought US$242k worth of stock

New minor risk - Dividend sustainability

Second quarter 2023 earnings released: EPS: US$0.43 (vs US$0.43 in 2Q 2022)

Upcoming dividend of US$0.59 per share at 6.5% yield

President & COO recently bought US$116k worth of stock

First quarter 2023 earnings released: EPS: US$0.45 (vs US$0.44 in 1Q 2022)

Upcoming dividend of US$0.59 per share at 6.2% yield

Chairman & CEO recently bought US$364k worth of stock

Chairman & CEO recently bought US$104k worth of stock

Price target decreased by 14% to US$42.00

Full year 2022 earnings released: EPS: US$1.63 (vs US$1.57 in FY 2021)

Now 20% undervalued

Now 20% undervalued

Upcoming dividend of US$0.59 per share

Saul Centers, Inc. Declares Quarterly Dividend, Payable on January 31, 2023

Saul Centers declares $0.59 dividend

Price target decreased to US$49.00

Insufficient new directors

Third quarter 2022 earnings released: EPS: US$0.38 (vs US$0.44 in 3Q 2021)

Saul Centers reports Q3 results

Upcoming dividend of US$0.59 per share

Saul Centers, Inc. Declares Quarterly Dividend on Common Stock, Payable on October 31, 2022

Saul Centers declares $0.59 dividend

Second quarter 2022 earnings released: EPS: US$0.43 (vs US$0.42 in 2Q 2021)

Upcoming dividend of US$0.59 per share

Saul Centers, Inc. Declares Quarterly Dividend on Common Stock, Payable on July 29, 2022

Chairman & CEO recently bought US$60k worth of stock

First quarter 2022 earnings released: EPS: US$0.44 (vs US$0.32 in 1Q 2021)

Insufficient new directors

Upcoming dividend of US$0.57 per share

Insider recently sold US$115k worth of stock

Now 20% undervalued after recent price drop

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Now 21% undervalued after recent price drop

Director exercised options and sold US$110k worth of stock

Upcoming dividend of US$0.57 per share

Senior VP exercised options and sold US$80k worth of stock

Insider exercised options to buy US$134k worth of stock.

Price target increased to US$54.33

Insider recently sold US$131k worth of stock

Price target increased to US$52.00

Third quarter 2021 earnings released: EPS US$0.44 (vs US$0.28 in 3Q 2020)

Price target increased to US$50.33

Saul Centers: Not Cheap Enough

Upcoming dividend of US$0.55 per share

Second quarter 2021 earnings released: FFO US$1.11 per share (vs US$0.86 in 2Q 2020)

Upcoming dividend of US$0.55 per share

Saul Centers: Definitely Not A Best Of Breed

First quarter 2021 earnings released

Revenue & Expenses Breakdown
Beta