Saul Centers maintains $0.59 quarterly dividend on common stock

BETHESDA, Md. - Saul Centers, Inc. (NYSE:BFS), a $1.09 billion market cap REIT, announced Tuesday it will maintain its quarterly dividend of $0.59 per share on common stock, payable October 31 to shareholders of record as of October 15. The company’s current dividend yield stands at 7.41%.

The real estate investment trust is keeping its common dividend unchanged from both the previous quarter and the same period last year, according to a press release statement. InvestingPro data shows the company has maintained dividend payments for 33 consecutive years, demonstrating a strong commitment to shareholder returns.

The company also declared quarterly dividends on its preferred stock: $0.3828125 per depositary share for its 6.125% Series D Cumulative Redeemable Preferred Stock and $0.3750000 per depositary share for its 6.000% Series E Cumulative Redeemable Preferred Stock. These preferred dividends will be paid on October 15 to holders of record on October 1.

Saul Centers operates as a self-managed, self-administered equity REIT headquartered in Bethesda, Maryland. The company currently manages a portfolio of 62 properties, including 58 community and neighborhood shopping centers and mixed-use properties with approximately 10.2 million square feet of leasable area, along with four land and development properties.

The company noted that over 85% of its property operating income comes from properties located in the metropolitan Washington, DC/Baltimore area.

In other recent news, Saul Centers received a Buy rating from Freedom Broker, which initiated coverage with a price target of $50.00. The research firm highlighted the company’s "high-quality, defensively positioned portfolio" as a significant factor in its positive outlook. This development comes as analysts continue to evaluate the company’s prospects in the real estate investment trust sector. Freedom Broker’s assessment indicates confidence in Saul Centers’ strategic positioning and potential for future performance. Investors may find this analyst note noteworthy as it suggests a promising perspective on the company’s market positioning.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.