Saul Centers Inc (NYSE:BFS) announced a quarterly dividend on Friday, December 7th, Wall Street Journal reports. Shareholders of record on Thursday, January 17th will be paid a dividend of 0.53 per share by the real estate investment trust on Thursday, January 31st. This represents a $2.12 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Wednesday, January 16th. This is a boost from Saul Centers’s previous quarterly dividend of $0.52.
Saul Centers has increased its dividend payment by an average of 9.4% per year over the last three years and has increased its dividend every year for the last 4 years. Saul Centers has a payout ratio of 67.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Saul Centers to earn $3.35 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 62.1%.
BFS stock traded down $0.06 during midday trading on Friday, reaching $52.97. 29,269 shares of the company traded hands, compared to its average volume of 37,585. Saul Centers has a 52-week low of $46.71 and a 52-week high of $64.93. 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 company has a market cap of $1.18 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 3.36 and a beta of 0.84.
BFS has been the topic of a number of recent research reports. Zacks Investment Research upgraded Saul Centers from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Wednesday, November 7th. ValuEngine upgraded Saul Centers from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th.
In other news, CFO Scott V. Schneider sold 805 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $54.04, for a total transaction of $43,502.20. Following the transaction, the chief financial officer now owns 9,398 shares of the company’s stock, valued at $507,867.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John E. Chapoton sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The shares were sold at an average price of $50.04, for a total value of $500,400.00. The disclosure for this sale can be found here. Corporate insiders own 48.80% of the company’s stock.
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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.
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