Saul Centers
Market Cap
US$944.4m
Last Updated
2020/06/01 03:18 UTC
Data Sources
Company Financials +
Executive Summary
Saul Centers, Inc. is a self-managed, self-administered equity REIT headquartered in Bethesda, Maryland, which currently operates and manages a real estate portfolio of 60 properties which includes (a) 50 community and neighborhood shopping centers and six mixed-use properties with approximately 9.4 million square feet of leasable area and (b) four land and development properties.
Rewards
Risk Analysis
Earnings are forecast to decline by an average of -5.4% per year for the next 3 years
Snowflake Analysis
Average dividend payer and fair value.
Similar Companies
Share Price & News
How has Saul Centers's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: BFS's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
1.6%
BFS
5.0%
US REITs
3.0%
US Market
1 Year Return
-43.4%
BFS
-10.1%
US REITs
9.9%
US Market
Return vs Industry: BFS underperformed the US REITs industry which returned -10.1% over the past year.
Return vs Market: BFS underperformed the US Market which returned 9.9% over the past year.
Shareholder returns
| BFS | Industry | Market | |
|---|---|---|---|
| 7 Day | 1.6% | 5.0% | 3.0% |
| 30 Day | -6.9% | 4.8% | 8.2% |
| 90 Day | -30.1% | -13.7% | 0.4% |
| 1 Year | -40.8%-43.4% | -6.3%-10.1% | 12.4%9.9% |
| 3 Year | -40.8%-47.5% | 10.1%-3.5% | 31.0%22.3% |
| 5 Year | -26.4%-38.8% | 40.5%11.5% | 58.1%40.3% |
Price Volatility Vs. Market
How volatile is Saul Centers's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Trade Alert: The President Of Saul Centers, Inc. (NYSE:BFS), Bernard Saul, Has Just Spent US$312k Buying 3.9% More Shares2 weeks ago | Simply Wall St
Is There Now An Opportunity In Saul Centers, Inc. (NYSE:BFS)?1 month ago | Simply Wall St
How Many Saul Centers, Inc. (NYSE:BFS) Shares Did Insiders Buy, In The Last Year?Valuation
Is Saul Centers undervalued compared to its fair value and its price relative to the market?
41.4%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: BFS ($30.38) is trading below our estimate of fair value ($51.87)
Significantly Below Fair Value: BFS is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: BFS is good value based on its PE Ratio (19.4x) compared to the REITs industry average (27.4x).
PE vs Market: BFS is poor value based on its PE Ratio (19.4x) compared to the US market (15.7x).
Price to Earnings Growth Ratio
PEG Ratio: BFS's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: BFS is overvalued based on its PB Ratio (3.7x) compared to the US REITs industry average (1.3x).
Next Steps
Future Growth
How is Saul Centers forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
-5.4%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: BFS's earnings are forecast to decline over the next 3 years (-5.4% per year).
Earnings vs Market: BFS's earnings are forecast to decline over the next 3 years (-5.4% per year).
High Growth Earnings: BFS's earnings are forecast to decline over the next 3 years.
Revenue vs Market: BFS's revenue (4.4% per year) is forecast to grow slower than the US market (8.8% per year).
High Growth Revenue: BFS's revenue (4.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if BFS's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Saul Centers performed over the past 5 years?
5.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: BFS has high quality earnings.
Growing Profit Margin: BFS's current net profit margins (15.8%) are lower than last year (17.2%).
Past Earnings Growth Analysis
Earnings Trend: BFS's earnings have grown by 5.5% per year over the past 5 years.
Accelerating Growth: BFS's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: BFS had negative earnings growth (-8.5%) over the past year, making it difficult to compare to the REITs industry average (5.3%).
Return on Equity
High ROE: BFS's Return on Equity (14.3%) is considered low.
Next Steps
Financial Health
How is Saul Centers's financial position?
Financial Position Analysis
Short Term Liabilities: BFS's short term assets ($85.5M) exceed its short term liabilities ($70.9M).
Long Term Liabilities: BFS's short term assets ($85.5M) do not cover its long term liabilities ($1.1B).
Debt to Equity History and Analysis
Debt Level: BFS's debt to equity ratio (250.6%) is considered high.
Reducing Debt: BFS's debt to equity ratio has increased from 249.7% to 250.6% over the past 5 years.
Debt Coverage: BFS's debt is not well covered by operating cash flow (9.8%).
Interest Coverage: BFS's interest payments on its debt are not well covered by EBIT (2.6x coverage).
Balance Sheet
Next Steps
Dividend
What is Saul Centers's current dividend yield, its reliability and sustainability?
6.98%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: BFS's dividend (6.98%) is higher than the bottom 25% of dividend payers in the US market (1.69%).
High Dividend: BFS's dividend (6.98%) is in the top 25% of dividend payers in the US market (4.54%)
Stability and Growth of Payments
Stable Dividend: BFS's dividend payments have been volatile in the past 10 years.
Growing Dividend: BFS's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (64.6%), BFS's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
10.8yrs
Average management tenure
CEO
Bernard Saul (86yo)
27yrs
Tenure
US$268,615
Compensation
Mr. Bernard Francis Saul, II has been Chairman and Chief Executive Officer of Saul Centers Inc., since June 1993 and has been its President since October 1, 2019. Mr. Saul has been the President, Chief Ope ...
CEO Compensation Analysis
Compensation vs Market: Bernard's total compensation ($USD268.62K) is below average for companies of similar size in the US market ($USD3.20M).
Compensation vs Earnings: Bernard's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 27yrs | US$268.62k | 1.26% $11.9m | |
| Executive VP | 27.42yrs | US$847.92k | 0.078% $732.8k | |
| Executive VP and Chief Legal & Administrative Officer | 6.17yrs | US$667.93k | no data | |
| Executive Vice President of Leasing | 22.42yrs | US$827.65k | 0.011% $100.1k | |
| Senior VP of Residential & Director | 1.25yrs | US$53.94k | 0.0099% $93.8k | |
| Senior VP & Chief Accounting Officer | 10.75yrs | no data | 0.045% $426.2k | |
| Senior VP & Chief Information Officer | 1.42yrs | no data | no data | |
| Shareholder Relations Representative | 8.42yrs | no data | no data | |
| Senior Vice President of Human Resources | no data | no data | no data | |
| Senior Vice President of Management | 20.42yrs | no data | 0.051% $483.7k |
10.8yrs
Average Tenure
61yo
Average Age
Experienced Management: BFS's management team is seasoned and experienced (10.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 27yrs | US$268.62k | 1.26% $11.9m | |
| Senior VP of Residential & Director | 1.25yrs | US$53.94k | 0.0099% $93.8k | |
| Independent Vice Chairman of the Board | 17.25yrs | US$149.84k | 0.54% $5.1m | |
| Independent Director | 12.17yrs | US$63.74k | 0.063% $593.2k | |
| Director | 27yrs | US$60.14k | 0.0026% $24.5k | |
| Independent Director | 17.67yrs | US$63.74k | 0.030% $287.7k | |
| Independent Director | 8.25yrs | US$97.54k | 0.021% $196.1k | |
| Independent Director | 8.25yrs | US$79.44k | 0.0099% $93.6k | |
| Director | 6yrs | US$1.45m | 0.027% $252.3k | |
| Director | 6yrs | US$60.14k | 0.098% $929.0k |
10.2yrs
Average Tenure
76yo
Average Age
Experienced Board: BFS's board of directors are seasoned and experienced ( 10.2 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: BFS insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Saul Centers, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Saul Centers, Inc.
- Ticker: BFS
- Exchange: NYSE
- Founded: 1993
- Industry: Retail REITs
- Sector: Real Estate
- Implied Market Cap: US$944.421m
- Market Cap: US$704.816m
- Shares outstanding: 31.09m
- Website: https://www.saulcenters.com
Number of Employees
Location
- Saul Centers, Inc.
- 7501 Wisconsin Avenue
- Suite 1500E
- Bethesda
- Maryland
- 20814
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| BFS | NYSE (New York Stock Exchange) | Yes | Common Stock | US | USD | Aug 1993 |
| SA4 | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Aug 1993 |
| BFS.PRD | NYSE (New York Stock Exchange) | 6.125% PFD CUM D | US | USD | Jan 2018 | |
| BFS.PRE | NYSE (New York Stock Exchange) | 6% CUM PFD E | US | USD | Sep 2019 |
Biography
Saul Centers, Inc. is a self-managed, self-administered equity REIT headquartered in Bethesda, Maryland, which currently operates and manages a real estate portfolio of 60 properties which includes (a) 50 community and neighborhood shopping centers and six mixed-use properties with approximately 9.4 million square feet of leasable area and (b) four land and development properties. Approximately 85% of the Saul Centers' property operating income is generated by properties in the metropolitan Washington, DC/Baltimore area.Â
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/06/01 03:18 |
| End of Day Share Price | 2020/05/29 00:00 |
| Earnings | 2020/03/31 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.