Renaissance Technologies LLC Sells 39,167 Shares of Saul Centers, Inc. $BFS

Key Points

• Renaissance Technologies reduced its Saul Centers position by 17.4%, selling 39,167 shares and retaining 186,474 shares worth approximately $6.1 million. Institutional investors collectively own 49.99% of the REIT.
• Saul Centers reported quarterly EPS of $0.26, beating estimates of $0.13, while revenue of $74.64 million fell slightly short of forecasts. Analysts maintain a consensus “Hold” rating.
• The company paid a quarterly dividend of $0.59 per share, equivalent to an annualized $2.36 dividend and a 6.9% yield. Shares opened at $34.04, down 0.8%, and insiders own approximately 51% of the stock.

Renaissance Technologies LLC decreased its position in Saul Centers, Inc. (NYSE:BFS - Free Report) by 17.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 186,474 shares of the real estate investment trust's stock after selling 39,167 shares during the period. Renaissance Technologies LLC owned about 0.76% of Saul Centers worth $6,075,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in Saul Centers during the 2nd quarter valued at $27,000. CWM LLC increased its position in shares of Saul Centers by 35.8% in the fourth quarter. CWM LLC now owns 1,444 shares of the real estate investment trust's stock valued at $46,000 after acquiring an additional 381 shares during the period. Bessemer Group Inc. raised its stake in shares of Saul Centers by 82.9% during the first quarter. Bessemer Group Inc. now owns 1,412 shares of the real estate investment trust's stock valued at $47,000 after acquiring an additional 640 shares during the last quarter. Laurel Wealth Advisors LLC bought a new position in shares of Saul Centers during the fourth quarter valued at about $54,000. Finally, Signaturefd LLC boosted its holdings in shares of Saul Centers by 450.6% during the fourth quarter. Signaturefd LLC now owns 1,795 shares of the real estate investment trust's stock worth $57,000 after purchasing an additional 1,469 shares during the period. 49.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Saul Centers in a report on Friday. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold".

Insider Activity

In related news, COO David Todd Pearson purchased 2,600 shares of the business's stock in a transaction that occurred on Thursday, May 28th. The shares were bought at an average price of $34.74 per share, for a total transaction of $90,324.00. Following the purchase, the chief operating officer directly owned 79,321 shares of the company's stock, valued at approximately $2,755,611.54. This represents a 3.39% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 51.00% of the company's stock.

Saul Centers Stock Down 0.8%

Shares of NYSE BFS opened at $34.04 on Wednesday. The firm has a fifty day simple moving average of $36.19 and a two-hundred day simple moving average of $34.50. Saul Centers, Inc. has a 12 month low of $29.16 and a 12 month high of $38.42. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 5.54. The firm has a market capitalization of $835.34 million, a PE ratio of 32.11 and a beta of 0.91.

Saul Centers (NYSE:BFS - Get Free Report) last announced its earnings results on Thursday, May 7th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.13. The firm had revenue of $74.64 million during the quarter, compared to analyst estimates of $75.11 million. Saul Centers had a return on equity of 12.44% and a net margin of 12.43%.

Saul Centers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 6.9%. The ex-dividend date was Wednesday, July 15th. Saul Centers's dividend payout ratio (DPR) is presently 222.64%.

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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