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Investing.com - Freedom Broker initiated coverage on Saul Centers (NYSE:BFS) with a Buy rating and a price target of $50.00 on Wednesday, representing a potential 42% upside from the current price of $35.12.
The research firm cited the company’s "high-quality, defensively positioned portfolio" as a key factor in its positive outlook on the real estate investment trust. The company has maintained dividend payments for 33 consecutive years, with a current yield of 6.8%.
Freedom Broker analyst Viacheslav Obodnikov stated that Saul Centers’ current valuation "does not fully reflect its intrinsic asset value or growth prospects." According to InvestingPro analysis, the company appears undervalued, with strong financial health metrics and a 5% revenue growth in the last twelve months.
The firm highlighted the stability provided by Saul Centers’ core grocery-anchored retail assets as a compelling investment characteristic.
Freedom Broker also pointed to "significant, de-risked upside" from Saul Centers’ transit-oriented residential developments as another factor supporting its Buy recommendation.
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