Saul Centers, Inc. - BFS STOCK NEWS

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.