Saul Centers (BFS) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Saul Centers (NYSE:BFS) from a hold rating to a buy rating in a report released on Tuesday. They currently have $55.00 price objective on the real estate investment trust’s stock.

According to Zacks, “SAUL CENTERS, INC. is a real estate investment trust which is engaged in the management and development of the shopping center business of the Saul Organization. “

Separately, ValuEngine cut Saul Centers from a hold rating to a sell rating in a research note on Thursday, October 4th.

Shares of NYSE:BFS opened at $51.11 on Tuesday. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 3.06 and a beta of 0.89. Saul Centers has a 12-month low of $45.49 and a 12-month high of $60.65. The company has a debt-to-equity ratio of 4.28, a current ratio of 2.04 and a quick ratio of 2.04.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Thursday, January 17th will be paid a dividend of $0.53 per share. This is a boost from Saul Centers’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, January 16th. This represents a $2.12 dividend on an annualized basis and a yield of 4.15%. Saul Centers’s payout ratio is presently 65.41%.

In other news, Director John E. Chapoton sold 10,000 shares of the business’s stock in a transaction on Monday, November 12th. The stock was sold at an average price of $50.04, for a total value of $500,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott V. Schneider sold 805 shares of the business’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $54.04, for a total value of $43,502.20. Following the completion of the transaction, the chief financial officer now owns 9,398 shares of the company’s stock, valued at approximately $507,867.92. The disclosure for this sale can be found here. 49.60% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the company. Vident Investment Advisory LLC purchased a new position in shares of Saul Centers in the third quarter worth $266,000. Macquarie Group Ltd. raised its stake in shares of Saul Centers by 36.8% in the third quarter. Macquarie Group Ltd. now owns 5,200 shares of the real estate investment trust’s stock worth $291,000 after purchasing an additional 1,400 shares during the last quarter. Laurion Capital Management LP purchased a new position in shares of Saul Centers in the third quarter worth $322,000. MetLife Investment Advisors LLC increased its position in Saul Centers by 55.7% during the third quarter. MetLife Investment Advisors LLC now owns 8,416 shares of the real estate investment trust’s stock valued at $471,000 after acquiring an additional 3,011 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Saul Centers during the second quarter valued at $560,000. Hedge funds and other institutional investors own 46.18% of the company’s stock.

About Saul Centers

Saul Centers, Inc is a self-managed, self-administered equity REIT headquartered in Bethesda, Maryland, which currently operates and manages a real estate portfolio of 60 properties which includes (a) 49 community and neighborhood shopping centers and seven mixed-use properties with approximately 9.3 million square feet of leasable area and (b) four land and development properties.

See Also: Fundamental Analysis

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