Saul Centers, Inc. $BFS Shares Acquired by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. increased its stake in Saul Centers, Inc. by 124.5% during the first quarter, owning approximately 33,867 shares worth $1,222,000.
• Saul Centers reported a $0.73 earnings per share for the last quarter, missing the consensus estimate of $0.75 and achieving a revenue of $69.43 million against expectations of $71.39 million.
• The company announced a quarterly dividend of $0.59 per share, translating to a 7.1% yield for shareholders, despite a high dividend payout ratio of 178.79%.

Panagora Asset Management Inc. lifted its holdings in Saul Centers, Inc. (NYSE:BFS - Free Report) by 124.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,867 shares of the real estate investment trust's stock after purchasing an additional 18,782 shares during the quarter. Panagora Asset Management Inc. owned 0.14% of Saul Centers worth $1,222,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new position in shares of Saul Centers in the 1st quarter worth about $2,597,000. Cary Street Partners Financial LLC purchased a new position in shares of Saul Centers in the 4th quarter valued at approximately $2,549,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Saul Centers in the 1st quarter worth approximately $1,253,000. Northern Trust Corp grew its position in Saul Centers by 27.1% during the fourth quarter. Northern Trust Corp now owns 140,411 shares of the real estate investment trust's stock valued at $5,448,000 after buying an additional 29,951 shares during the period. Finally, Public Sector Pension Investment Board increased its stake in Saul Centers by 98.1% in the 1st quarter. Public Sector Pension Investment Board now owns 59,890 shares of the real estate investment trust's stock worth $2,160,000 after buying an additional 29,664 shares in the last quarter. 49.99% of the stock is owned by institutional investors and hedge funds.

Saul Centers Trading Down 2.7%

NYSE:BFS traded down $0.92 during mid-day trading on Monday, hitting $32.40. 41,019 shares of the stock traded hands, compared to its average volume of 55,079. Saul Centers, Inc. has a 52 week low of $31.25 and a 52 week high of $42.39. The firm's 50 day moving average is $33.44 and its two-hundred day moving average is $34.10. The stock has a market capitalization of $789.47 million, a price-to-earnings ratio of 24.63 and a beta of 1.19. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 5.16.

Saul Centers (NYSE:BFS - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The real estate investment trust reported $0.73 earnings per share for the quarter, missing analysts' consensus estimates of $0.75 by ($0.02). Saul Centers had a return on equity of 13.79% and a net margin of 15.51%.The firm had revenue of $69.43 million during the quarter, compared to analyst estimates of $71.39 million. On average, equities research analysts predict that Saul Centers, Inc. will post 3.14 earnings per share for the current year.

Saul Centers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date was Tuesday, July 15th. Saul Centers's payout ratio is 178.79%.

Saul Centers Profile

Saul Centers is a self-managed, self-administered equity REIT headquartered in Bethesda, Maryland. Saul Centers currently operates and manages a real estate portfolio comprised of 61 properties that includes (a) 57 community and neighborhood Shopping Centers and Mixed-Use properties with approximately 9.8 million square feet of leasable area and (b) four land and development properties.