Saul Centers, Inc. (NYSE:BFS) announced a quarterly dividend on Friday, June 23rd, Wall Street Journal reports. Shareholders of record on Monday, July 17th will be paid a dividend of 0.51 per share by the real estate investment trust on Monday, July 31st. This represents a $2.04 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Thursday, July 13th.
Saul Centers has increased its dividend payment by an average of 8.5% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. Saul Centers has a dividend payout ratio of 62.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Saul Centers to earn $3.38 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 60.4%.
Shares of Saul Centers (BFS) traded up 1.41% during mid-day trading on Friday, reaching $60.41. 30,994 shares of the company’s stock were exchanged. Saul Centers has a 52-week low of $55.86 and a 52-week high of $68.75. The company has a market cap of $1.30 billion, a PE ratio of 38.92 and a beta of 0.73. The company’s 50-day moving average price is $59.20 and its 200 day moving average price is $61.23.
Several brokerages have recently issued reports on BFS. Zacks Investment Research raised Saul Centers from a “sell” rating to a “hold” rating in a report on Wednesday, July 26th. BidaskClub cut Saul Centers from a “hold” rating to a “sell” rating in a report on Friday, July 28th.
In other news, insider Scott V. Schneider sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $60.12, for a total transaction of $300,600.00. Following the transaction, the insider now owns 4,500 shares of the company’s stock, valued at approximately $270,540. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 15,000 shares of company stock worth $885,800. Corporate insiders own 48.80% of the company’s stock.
Saul Centers Company Profile
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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