Saul Centers

BFS

Market cap $730M

Saul Centers maintained its quarterly dividend at $0.59 per share, offering an attractive 7.44% annualized yield. The REIT reported revenue of $70.8 million, roughly 5.8% year-over-year growth, but with FFO dipping by 10 cents per share. BFS is covering its dividend by 124% from FFO per share and is set to see this coverage improve on Twinbrook Quarter Phase I occupancy gains.

Saul Centers shares have underperformed, falling 23% in the past year, despite meeting financial expectations and maintaining a stable core business. BFS faces investor concerns due to its heavy Washington, D.C./Baltimore exposure, with federal government cutbacks posing regional economic risks. Recent results reflect accounting changes and project ramp-up costs, but Twinbrook and Hampden House expansions are expected to drive earnings growth by year-end.

BETHESDA, Md. , Sept. 23, 2025 /PRNewswire/ -- Saul Centers, Inc. (NYSE: BFS) has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on October 31, 2025, to holders of record on October 15, 2025.

A surprising solid REIT earnings season wrapped up this week. Of the 100 equity REITs that provide full-year FFO guidance, 62% raised their outlook - above the historical 55% average. Disinflation was a surprisingly common thread across second-quarter results, with the majority of the upside revisions being driven by improved expense expectations - the highest quantity of expense reductions ever. Healthcare REITs were notable upside standouts as senior housing fundamentals remained stellar, while skilled nursing REITs received some good news on the policy front via healthy CMS Medicare rate increases.

Saul Centers (BFS) Q2 EPS Drops 31%

BETHESDA, Md. , Aug. 7, 2025 /PRNewswire/ -- Saul Centers, Inc. (NYSE: BFS), an equity real estate investment trust ("REIT"), announced operating results for the quarter ended June 30, 2025 ("2025 Quarter").

Saul Centers, Inc.'s preferred shares offer attractive yields (7.46% and 7.07%) but lack credit ratings from major agencies. Our credit analysis, using Moody's methodology, results in a weak adjusted credit score of B1 for Saul Centers. Given the weak credit profile, I do not recommend buying BFS preferreds; better-yielding, lower-risk alternatives exist in the market.

US equity markets retreated from the cusp of record-highs this week as encouraging inflation data showing surprisingly muted tariff-related inflation was spoiled by a sudden escalation in Middle East tensions. The critical CPI and PPI reports both showed cooler-than-expected inflation in May for a third-straight month, as lower oil prices and moderating shelter costs more than offset the tariff uplift. Upsetting the key disinflationary offset that has kept overall inflation suppressed in recent months, the exchange of attacks between Iran and Israel sent global oil prices surging to four-month highs.

BETHESDA, Md. , June 12, 2025 /PRNewswire/ -- Saul Centers, Inc. (NYSE: BFS) has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on July 31, 2025, to holders of record on July 15, 2025.

Saul Centers (BFS) came out with quarterly funds from operations (FFO) of $0.71 per share, missing the Zacks Consensus Estimate of $0.73 per share. This compares to FFO of $0.80 per share a year ago.