Saul Centers, Inc. (BFS) Declares $0.51 Quarterly Dividend
Saul Centers, Inc. (NYSE:BFS) announced a quarterly dividend on Friday, September 22nd, Wall Street Journal reports. Stockholders of record on Tuesday, October 17th will be paid a dividend of 0.51 per share by the real estate investment trust on Tuesday, October 31st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Monday, October 16th.
Saul Centers has increased its dividend payment by an average of 8.5% annually over the last three years and has raised its dividend every year for the last 3 years. Saul Centers has a payout ratio of 63.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Saul Centers to earn $3.34 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 61.1%.
Shares of Saul Centers (NYSE:BFS) traded up 0.53% during midday trading on Friday, hitting $60.79. 16,709 shares of the stock were exchanged. The stock has a market cap of $1.33 billion, a P/E ratio of 38.45 and a beta of 0.72. The stock’s 50-day moving average price is $60.45 and its 200 day moving average price is $60.30. Saul Centers has a one year low of $55.86 and a one year high of $68.33.
A number of analysts recently commented on the company. BidaskClub upgraded Saul Centers from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Zacks Investment Research upgraded Saul Centers from a “sell” rating to a “hold” rating in a research report on Tuesday, September 12th. Finally, BMO Capital Markets upgraded Saul Centers from a “market perform” rating to an “outperform” rating in a research report on Monday, August 7th.
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In other Saul Centers news, VP Steven N. Corey sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $59.04, for a total transaction of $295,200.00. Following the transaction, the vice president now owns 5,000 shares in the company, valued at $295,200. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Charles W. Sherren, Jr. sold 2,453 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $61.72, for a total value of $151,399.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,544 shares of company stock worth $818,927. Company insiders own 48.80% of the company’s stock.
About Saul Centers
Saul Centers, Inc operates as a real estate investment trust. The Company’s principal business activity is the ownership, management and development of income-producing properties. It operates through two segments: Shopping Centers and Mixed-Use Properties. The Company, which conducts all of its activities through its subsidiaries, the Saul Holdings Limited Partnership (Operating Partnership) and Subsidiary Partnerships, engages in the ownership, operation, management, leasing, acquisition, renovation, expansion, development and financing of community and neighborhood shopping centers and mixed-used properties in the Washington, District of Columbia/Baltimore metropolitan area.
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