BlackRock Inc. Takes $84.30 Million Position in Saul Centers, Inc. $BFS

Key Points

• BlackRock acquired 2.25 million Saul Centers shares worth approximately $84.3 million, giving it a 9.19% stake. Institutional investors collectively own 49.99% of the REIT.
• Saul Centers reported quarterly EPS of $0.24, beating estimates of $0.14, though revenue of $72.8 million fell short of the $79.0 million forecast.
• The stock was rated “Hold” by the sole analyst tracked, while its $0.59 quarterly dividend implies a 7.1% annualized yield and a very high 243.3% payout ratio.

BlackRock Inc. bought a new position in shares of Saul Centers, Inc. (NYSE:BFS - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund bought 2,254,667 shares of the real estate investment trust's stock, valued at approximately $84,302,000. BlackRock Inc. owned 9.19% of Saul Centers at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Saul Centers by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 1,966,888 shares of the real estate investment trust's stock worth $62,016,000 after buying an additional 56,758 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in Saul Centers by 7.4% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 740,000 shares of the real estate investment trust's stock valued at $23,332,000 after acquiring an additional 50,767 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Saul Centers by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 202,245 shares of the real estate investment trust's stock valued at $6,589,000 after acquiring an additional 1,388 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Saul Centers by 543.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 189,830 shares of the real estate investment trust's stock valued at $6,050,000 after acquiring an additional 160,335 shares during the period. Finally, Invesco Ltd. grew its position in shares of Saul Centers by 4.2% during the 4th quarter. Invesco Ltd. now owns 166,070 shares of the real estate investment trust's stock valued at $5,236,000 after acquiring an additional 6,670 shares during the period. Institutional investors own 49.99% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Saul Centers in a report on Friday, July 31st. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of "Hold".

Saul Centers Stock Down 0.5%

BFS stock opened at $33.28 on Friday. The stock has a fifty day moving average of $35.44 and a 200-day moving average of $34.73. Saul Centers, Inc. has a fifty-two week low of $29.16 and a fifty-two week high of $38.42. The company has a market capitalization of $822.68 million, a price-to-earnings ratio of 34.31 and a beta of 0.91. The company has a debt-to-equity ratio of 5.64, a quick ratio of 1.62 and a current ratio of 1.62.

Saul Centers (NYSE:BFS - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.10. The business had revenue of $72.80 million for the quarter, compared to analysts' expectations of $78.98 million. Saul Centers had a return on equity of 11.97% and a net margin of 11.54%.

Saul Centers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were given a $0.59 dividend. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 7.1%. Saul Centers's payout ratio is 243.30%.

Saul Centers Company Profile

Saul Centers, Inc is a publicly traded real estate investment trust (REIT) that specializes in the ownership, development and management of retail properties. The company's portfolio is focused on grocery-anchored and necessity-based shopping centers, providing stable, long-term cash flows through leasing arrangements with national and regional retailers. In addition to ground-up development, Saul Centers actively pursues redevelopment and adaptive reuse projects to enhance value in existing assets.

Founded by the Saul family in 1945, Saul Centers has grown from a local real estate development firm into a listed REIT while maintaining its headquarters in Bethesda, Maryland.

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