Saul Centers (BFS)
NYSE:BFS
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Saul Centers
(NYSE:BFS)
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Rating:67Neutral
Price Target:
$38.00
▲(22.07% Upside)
Action:Reiterated
Date:05/09/26
The score is driven mainly by solid but debt-constrained fundamentals (high leverage and weakening equity offset steady revenue and positive cash flow). Technicals are supportive with a clear uptrend across key moving averages and positive MACD, and valuation is helped by a high dividend yield, though the P/E is only moderate.
Positive Factors
Steady Revenue Growth
Consistent revenue expansion across 2021–2025 and a TTM step-up indicate durable tenant demand for the company’s leased retail space. For a REIT, steady top-line growth supports recurrent rental cash flows, lease renewal leverage, and underpins long-term dividend sustainability absent major market shocks.
Negative Factors
High Leverage
Leverage at roughly 3x–5x equity materially constrains financial flexibility. High debt amplifies refinancing and rate risk, limits capacity for opportunistic acquisitions or large redevelopments, and elevates the sensitivity of distributable cash to interest cost changes or rent disruptions over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Steady Revenue Growth
Consistent revenue expansion across 2021–2025 and a TTM step-up indicate durable tenant demand for the company’s leased retail space. For a REIT, steady top-line growth supports recurrent rental cash flows, lease renewal leverage, and underpins long-term dividend sustainability absent major market shocks.
Read all positive factors
Saul Centers (BFS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$823.17M
Dividend Yield7.89%
Average Volume (3M)68.64K
Price to Earnings (P/E)21.6
Beta (1Y)0.48
Revenue Growth8.31%
EPS Growth-28.42%
CountryUS
Employees141
SectorReal Estate
Sector Strength53
IndustryREIT - Retail
Share Statistics
EPS (TTM)1.52
Shares Outstanding24,535,744
10 Day Avg. Volume62,577
30 Day Avg. Volume68,640
Financial Highlights & Ratios
PEG Ratio-3.71
Price to Book (P/B)2.48
Price to Sales (P/S)2.62
P/FCF Ratio7.65
Enterprise Value/Market Cap2.29
Enterprise Value/Revenue6.36
Enterprise Value/Gross Profit8.52
Enterprise Value/Ebitda11.97
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.02
Revenue Forecast (FY)$304.15M
Saul Centers Business Overview & Revenue Model
Company Description
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) 50 community and neighborhood shopping center...
How the Company Makes Money
Saul Centers makes money primarily by owning income-producing commercial real estate and collecting rent from tenants under lease agreements. The largest revenue stream is base minimum rent paid by tenants occupying space in the company’s shopping...
Saul Centers Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
48
Neutral
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 296.25M | 291.56M | 268.85M | 257.21M | 245.86M | 239.22M |
| Gross Profit | 221.31M | 89.52M | 196.79M | 190.07M | 181.34M | 177.60M |
| EBITDA | 157.48M | 178.55M | 171.72M | 166.61M | 156.39M | 155.64M |
| Net Income | 36.83M | 37.51M | 50.65M | 52.69M | 50.19M | 48.39M |
Balance Sheet | ||||||
| Total Assets | 2.16B | 2.16B | 2.13B | 1.99B | 1.83B | 1.75B |
| Cash, Cash Equivalents and Short-Term Investments | 9.33M | 8.74M | 10.30M | 8.41M | 13.28M | 14.59M |
| Total Debt | 1.06B | 1.60B | 1.53B | 1.39B | 1.22B | 1.14B |
| Total Liabilities | 1.68B | 1.69B | 1.63B | 1.49B | 1.31B | 1.22B |
| Stockholders Equity | 301.86M | 307.82M | 335.75M | 348.39M | 400.48M | 405.05M |
Cash Flow | ||||||
| Free Cash Flow | 98.71M | 99.80M | 121.22M | 117.73M | 140.16M | 118.38M |
| Operating Cash Flow | 98.71M | 99.80M | 121.22M | 117.73M | 121.15M | 118.38M |
| Investing Cash Flow | -78.34M | -95.81M | -188.73M | -203.68M | -116.89M | -55.87M |
| Financing Cash Flow | -17.54M | -5.54M | 69.40M | 81.08M | -5.58M | -74.77M |
Saul Centers Technical Analysis
Positive
31.13
Price Trends
33.36
Positive
32.82
Positive
31.44
Positive
Market Momentum
0.01
Positive
46.60
Neutral
26.05
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BFS, the sentiment is Positive. The current price of 31.13 is below the 20-day moving average (MA) of 34.15, below the 50-day MA of 33.36, and below the 200-day MA of 31.44, indicating a neutral trend. The MACD of 0.01 indicates Positive momentum. The RSI at 46.60 is Neutral, neither overbought nor oversold. The STOCH value of 26.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BFS.
Saul Centers Risk Analysis
Saul Centers disclosed 16 risk factors in its most recent earnings report. Saul Centers reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Saul Centers Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $2.86B | 20.58 | 2.03% | 3.83% | 9.83% | 80.92% | |
69 Neutral | $1.95B | 50.09 | 11.26% | 3.97% | 5.91% | 59.55% | |
67 Neutral | $823.17M | 21.62 | 11.80% | 7.89% | 8.31% | -28.42% | |
66 Neutral | $1.43B | 6.24 | 49.14% | 6.79% | 10.29% | 160.54% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
54 Neutral | $1.21B | 65.05 | 17.37% | 8.39% | -3.73% | -48.13% | |
52 Neutral | $285.99M | 75.48 | 47.95% | ― | -67.13% | -68.06% |
* Real Estate Sector Average
BFS
Saul Centers
33.55
2.96
9.68%
ALX
Alexander's
236.93
35.12
17.40%
SITC
SITE Centers
5.44
-0.46
-7.75%
WSR
Whitestone REIT
18.97
7.12
60.07%
AKR
Acadia Realty
21.12
2.85
15.57%
CBL
CBL & Associates Properties
46.14
22.65
96.39%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.