Welcome to our dedicated page for Saul Ctrs news (Ticker: BFS), a resource for investors and traders seeking the latest updates and insights on Saul Ctrs stock.
Saul Centers, Inc. (NYSE: BFS) is an equity real estate investment trust (REIT) that regularly releases detailed information about its operations, portfolio and capital structure. News related to Saul Centers often includes quarterly and annual earnings announcements, dividend declarations on its common stock and preferred stock, and updates on its shopping center and mixed-use property portfolio.
Company press releases describe a self-managed, self-administered equity REIT headquartered in Bethesda, Maryland, with a portfolio of 62 properties consisting of community and neighborhood shopping centers, mixed-use properties and non-operating land and development properties. Over 85% of its property operating income or property net operating income is generated by assets in the metropolitan Washington, D.C./Baltimore area, so many updates focus on performance and leasing trends in that regional market.
Investors following BFS news can see recurring disclosures on metrics such as total revenue, net income, same property revenue, same property net operating income and funds from operations (FFO). The company also issues news about leasing progress and initial operations at development projects, such as Twinbrook Quarter Phase I, and how these projects affect net income and FFO as costs move from capitalization to expense while occupancy grows.
Saul Centers’ news flow also covers capital markets and financing developments, including changes to its senior unsecured credit facility and related covenants, as reported in SEC filings and referenced press releases. Regular dividend announcements on the company’s common stock and its 6.125% Series D and 6.000% Series E preferred stock are another recurring news theme. Readers interested in BFS can use this news page to review historical and recent company communications about its real estate portfolio, financial performance and capital structure.
Saul Centers, Inc. (NYSE: BFS) reported a revenue increase to $60.0 million for the quarter ending June 30, 2021, up from $53.2 million year-over-year. Net income rose to $16.1 million, compared to $10.2 million in the previous year, driven by lower credit losses and increased occupancy at its properties, particularly The Waycroft. The company’s FFO increased to $26.0 million for the quarter. Despite the positive trends, commercial portfolio leasing dropped to 92.5% from 94.7% the previous year. The ongoing COVID-19 pandemic continues to influence operations, though tenant payment rates remain high.
Saul Centers has declared a quarterly dividend of $0.55 per share, a 3.77% increase from the previous quarter, payable on July 30, 2021. Holders of record as of July 16, 2021, will receive this dividend. Additionally, dividends on Series D and Series E Preferred Stock will be paid on July 15, 2021, and $0.3828125 and $0.3750000 per share, respectively. Saul Centers operates 61 properties, mainly in the Washington, DC area, generating approximately 85% of its income.
Saul Centers, Inc. (NYSE: BFS) reported a revenue increase to $58.7 million for Q1 2021 from $56.9 million in Q1 2020. However, net income fell to $12.8 million, down from $16.8 million, impacted by initial operating costs of The Waycroft and higher credit losses. Same property revenue decreased by 2.4% to $56.4 million. The commercial portfolio's leasing dropped to 92.2% from 95.3% year-over-year. Funds from operations (FFO) decreased to $22.7 million, from $25.3 million. The company holds cash over $10 million and a borrowing capacity of $212.8 million.
On March 11, 2021, Saul Centers declared a quarterly dividend of $0.53 per share to be paid on April 30, 2021. This matches the previous quarter's dividend. Additionally, dividends of $0.3828125 and $0.375 will be paid for preferred stocks on April 15, 2021. The company reported that 99% of its tenants are operating, with 100% of shopping centers open. Rent collection rates show 95% for Q4 2020, 93% for January 2021, and 92% for February 2021, indicating robust recovery amidst the ongoing pandemic.
Saul Centers (NYSE: BFS) reported Q4 2020 revenue of $58.3 million, up from $56.6 million in Q4 2019. However, net income fell to $11.7 million from $15.0 million. The Waycroft project has achieved 88% lease occupancy, doubling residential units to over 1,000. For the full year, revenue decreased to $225.2 million from $231.5 million, with net income down to $50.3 million. Same property revenue and operating income fell by 5.1% and 5.2% respectively. Despite challenges from COVID-19, tenant payments reached 94% in Q4 2020. The company maintains liquidity of $7.1 million and borrowing capacity of $220.3 million.
Saul Centers (NYSE: BFS) announced the tax treatment of its 2020 dividends. The company declared and paid a total of $2.12 per share in common stock dividends, with 67.3% classified as ordinary income and 32.7% as a return of capital. The preferred stock dividends totaled $1.53125 for Series D and $1.50000 for Series E per depositary share, characterized entirely as ordinary income. This information will be reported on Form 1099-DIV for shareholders.
Saul Centers (NYSE: BFS) announced a quarterly dividend of $0.53 per share, payable on January 29, 2021, to record holders as of January 15, 2021. The dividend remains consistent with previous quarters. Additionally, dividends on preferred stocks were declared, including $0.3828125 for Series D and $0.3750000 for Series E, with payment dates set for January 15, 2021. As of December 9, 2020, 100% of shopping centers are open and 99% of tenants are operating, showing resilience amidst the pandemic.
Saul Centers (NYSE: BFS) reported a decline in operating results for the quarter ended September 30, 2020. Total revenue decreased to $56.8 million compared to $57.1 million in Q3 2019. Net income fell to $11.6 million from $15.3 million. The COVID-19 pandemic impacted operations, with credit losses and increased expenses from the new Waycroft mixed-use development affecting profitability. Occupancy rates declined across both commercial and residential portfolios, with 94.0% of commercial space leased and 73.9% of residential units occupied.
Saul Centers has declared a quarterly dividend of $0.53 per share, with a payment date of October 30, 2020. The dividend remains unchanged from previous quarters. Additionally, dividends for preferred stocks are set at $0.3828125 for Series D and $0.3750000 for Series E, payable on October 15, 2020. As of September 16, 2020, 98% of tenants are operational, with cash collections showing improvement. The Waycroft development has secured 241 residential leases, increasing the company's portfolio significantly.
Saul Centers, Inc. (NYSE: BFS) reported a decline in operating results for the quarter ending June 30, 2020. Total revenue fell to $53.2 million, down from $58.1 million in the same quarter of 2019. Net income decreased to $10.2 million, impacted by the initial operations of The Waycroft project, resulting in a $4.6 million negative effect. Same property revenue and operating income both saw significant declines, with respective drops of 9.1% and 9.9%. As of June 30, 2020, 94.7% of the commercial portfolio was leased, unchanged from 2019, while the residential portfolio occupancy dropped to 67.7%. Funds from operations also decreased, highlighting the ongoing challenges due to COVID-19.
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