Saul Centers, Inc. (NYSE:BFS) announced a quarterly dividend on Friday, June 23rd, Wall Street Journal reports. Stockholders 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 dividend yield of 3.50%. The ex-dividend date of this dividend 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 every year for the last 3 years. Saul Centers has a dividend payout ratio of 62.4% indicating that its dividend is sufficiently covered by earnings. Equities 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%.
Saul Centers (NYSE BFS) opened at 58.26 on Wednesday. The stock’s 50 day moving average price is $58.35 and its 200-day moving average price is $62.29. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 37.54 and a beta of 0.73. Saul Centers has a 12 month low of $55.86 and a 12 month high of $68.75.
A number of research analysts have recently issued reports on the company. Zacks Investment Research lowered Saul Centers from a “hold” rating to a “sell” rating in a report on Tuesday. BidaskClub raised Saul Centers from a “sell” rating to a “hold” rating in a report on Friday, June 30th.
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In related news, Director Patrick F. Noonan sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $58.00, for a total transaction of $290,000.00. Following the transaction, the director now owns 12,588 shares of the company’s stock, valued at $730,104. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 15,000 shares of company stock worth $885,800 in the last ninety days. 48.80% of the stock is currently owned by corporate insiders.
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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