Dividend Coverage: This Self-managed, Self-administered Equity REIT has a Dividend Yield of $3.50%; Will Trade Ex-Dividend on July 13, 2017

LONDON, UK / ACCESSWIRE / July 12, 2017 / Pro-Trader Daily takes a closer look at Saul Centers Inc. (NYSE: BFS) as the Company’s stock will begin trading ex-dividend on July 13, 2017. In order to capture the dividend payout, investors must purchase the stock one day prior to the ex-dividend date that is by latest the end of trading session on July 12, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:

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Dividend Declared

On June 22, 2017, Saul Centers declared a quarterly dividend of $0.51 per share on its common stock, to be paid July 31, 2017, to holders of record on July 17, 2017. The common dividend is consistent with the amount paid in the previous quarter and represents a $0.04 (8.5%) increase over the amount paid in the prior year’s comparable quarter.

The Company also declared a quarterly dividend on its 6.875% Series C Cumulative Redeemable Preferred Stock in the amount of $0.4296875 per depositary share. The preferred dividend will be paid July 17, 2017, to holders of record on July 07, 2017.

Saul Centers indicated dividend represents a yield of 3.50%, which is higher compared to the average dividend yield of 3.25% for the financial sector. The Company has increased dividend for the past three years.

Dividend Insights

Saul Centers has a dividend payout ratio of 62.4%, which indicates that the Company distributes approximately $0.62 for every $1.00 earned. The dividend payout ratio reflects how much money a Company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or add to its cash reserves.

Saul Centers’ trailing twelve-month earnings are $1.55, while Company’s annualized dividend is $2.04. One of the primary reasons for the difference between earnings and annualized dividend is that REITs are structured by law to distribute at least 90% of earnings. Since REITs generate income from owning portfolios of investment real estate, they are likely to have higher depreciation charges.

Since depreciation is a non-cash charge, it does not directly impact the ability of dividend the Companies can distribute. For this reason, Fund from Operations (FFO) a widely accepted non-GAAP financial measure of operating performance for REITs, defined as net income plus real estate depreciation and amortization, and excluding gains and losses from property dispositions, impairment charges on depreciable real estate assets and extraordinary items, is used to get an accurate picture of cash flow and a REITs ability to pay dividends. For instance, during the quarter ended March 31, 2017, net income attributable to common stockholders was $10.6 million, or $0.49 per diluted share, while its FFO available to common stockholders and non-controlling interests (after deducting preferred stock dividends) was $25.6 million, or $0.87 per diluted share, which should be able to sufficiently cover the dividend outflow.

About the Company

Saul Centers is a self-managed, self-administered equity REIT headquartered in Bethesda, Maryland, which currently operates and manages a real estate portfolio of 59 properties which includes:

(a) 50 community and neighborhood shopping centers and six mixed-use properties with approximately 9.5 million square feet of leasable area; and

(b) three land and development properties.

Approximately 85% of the Saul Centers’ property operating income is generated by properties in the metropolitan Washington, DC/Baltimore area.

Stock Performance

On Tuesday, July 11, 2017, Saul Centers’ stock closed the trading session at $58.26, marginally up 0.07% from its previous closing price of $58.22. A total volume of 68.89 thousand shares have exchanged hands, which was higher than the 3-month average volume of 37.21 thousand shares. The stock is trading at a PE ratio of 37.68 and has a dividend yield of 3.50%. The stock currently has a market cap of $1.26 billion.

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