Saul Centers (NYSE:BFS) Announces Earnings Results, Beats Expectations By $0.13 EPS

Key Points

• Saul Centers beat earnings expectations, reporting quarterly EPS of $0.26 versus analysts’ forecast of $0.13. Revenue came in at $74.64 million, slightly below the $75.11 million estimate.
• The stock rose 2.7% to $35.12 in Friday trading after the earnings release, near its 52-week high of $35.75. The company has a market cap of about $860 million and a dividend yield of 6.7%.
• Wall Street remains cautious, with Weiss Ratings reaffirming a “hold (c)” and MarketBeat showing a consensus “Hold” rating. Institutional investors also continued to take positions in the REIT, which focuses on retail and grocery-anchored shopping centers.

Saul Centers (NYSE:BFS - Get Free Report) posted its earnings results on Thursday. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.13, FiscalAI reports. Saul Centers had a return on equity of 12.34% and a net margin of 12.43%.The firm had revenue of $74.64 million for the quarter, compared to analyst estimates of $75.11 million.

Saul Centers Trading Up 2.7%

Shares of Saul Centers stock traded up $0.92 during trading hours on Friday, reaching $35.12. 51,473 shares of the company's stock were exchanged, compared to its average volume of 57,387. Saul Centers has a 52-week low of $29.16 and a 52-week high of $35.75. The firm has a market capitalization of $860.39 million, a price-to-earnings ratio of 33.13 and a beta of 0.93. The company has a fifty day moving average of $33.69 and a 200-day moving average of $32.36. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 5.48.

Saul Centers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Wednesday, April 15th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date of this dividend was Wednesday, April 15th. Saul Centers's dividend payout ratio is currently 222.64%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in shares of Saul Centers during the 2nd quarter worth $27,000. Strs Ohio purchased a new position in shares of Saul Centers during the 1st quarter worth $76,000. Quadrant Capital Group LLC purchased a new position in shares of Saul Centers during the 3rd quarter worth $82,000. Cubist Systematic Strategies LLC purchased a new position in shares of Saul Centers during the 1st quarter worth $118,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Saul Centers during the 4th quarter worth $135,000. Hedge funds and other institutional investors own 49.99% of the company's stock.

About Saul Centers

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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