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BFS Saul Centers

Saul Centers, Inc. operates as a real estate investment trust. Its business activity includes ownership, management and development of income producing properties. It operates through the Shopping Centers and Mixed-Use Properties business segments. The Shopping Centers segment consists of community and neighborhood shopping centers which are anchored by supermarkets, discount department stores and drug stores. The Mixed-Use Properties segment comprises of facilities which are located in differing commercial environments with distinctive demographic characteristics. Saul Centers was founded on June 10, 1993 and is headquartered in Bethesda, MD.

Company profile

Ticker
BFS, BFS+E
Exchange
CEO
Bernard Francis Saul
Employees
Incorporated
Location
Fiscal year end
Former names
SAUL CENTERS INC
SEC CIK
IRS number
521833074

BFS stock data

(
)

Calendar

10 May 21
24 Jun 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 14.55M 14.55M 14.55M 14.55M 14.55M 14.55M
Cash burn (monthly) 4.1M 1.45M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 11.43M 4.04M n/a n/a n/a n/a
Cash remaining 3.12M 10.52M n/a n/a n/a n/a
Runway (months of cash) 0.8 7.3 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
12 May 21 Friedman Joel Albert Common Shares Sell Dispose S No No 42.82 500 21.41K 117.617
12 May 21 Friedman Joel Albert Common Shares Option exercise Aquire M No No 41.82 500 20.91K 617.617
12 May 21 Friedman Joel Albert Employee Stock Option Common Stock Option exercise Dispose M No No 41.82 500 20.91K 0
12 May 21 Caraci Philip D Common Shares Sell Dispose S No No 43 2,500 107.5K 49,016
12 May 21 Caraci Philip D Common Shares Option exercise Aquire M No No 41.82 2,500 104.55K 51,516
12 May 21 Caraci Philip D Stock Option Common Stock Option exercise Dispose M No No 41.82 2,500 104.55K 0
7 May 21 Whitmore John R Common Stock Grant Aquire A No No 43.89 200 8.78K 800
7 May 21 Whitmore John R Stock Option Common Stock Grant Aquire A No No 43.89 2,500 109.73K 2,500

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

45.5% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 117 119 -1.7%
Opened positions 14 20 -30.0%
Closed positions 16 14 +14.3%
Increased positions 33 43 -23.3%
Reduced positions 43 33 +30.3%
13F shares
Current Prev Q Change
Total value 546.39M 2.15B -74.6%
Total shares 10.7M 10.98M -2.6%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
BLK Blackrock 2.02M $81.19M +5.2%
Vanguard 2M $80.07M +1.8%
TROW T. Rowe Price 1.85M $74.15M -0.2%
PFG Principal Financial Group Inc - Registered Shares 1.4M $56.05M +1.1%
STT State Street 418.54K $16.79M -0.6%
Renaissance Technologies 257.57K $10.33M -17.3%
Geode Capital Management 246.08K $9.87M +7.6%
Dimensional Fund Advisors 225.18K $9.03M -1.2%
BK Bank Of New York Mellon 220K $8.83M +0.4%
NTRS Northern Trust 165.68K $6.65M -1.2%
Largest transactions
Shares Bought/sold Change
V3 Capital Management 138.82K -181.79K -56.7%
Norges Bank 0 -142.12K EXIT
BLK Blackrock 2.02M +100.82K +5.2%
Virtus ETF Advisers 0 -56.72K EXIT
Renaissance Technologies 257.57K -53.7K -17.3%
Balyasny Asset Management 0 -41.95K EXIT
Vanguard 2M +35.61K +1.8%
IVZ Invesco 54.56K +28.81K +111.9%
Aperio 0 -21.26K EXIT
DB Deutsche Bank AG - Registered Shares 7.98K -20.95K -72.4%

Financial report summary

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Risks
  • Revenue from our properties may be reduced or limited if the retail operations of our tenants are not successful.
  • Our ability to increase our net income depends on the success and continued presence of our shopping center “anchor” tenants and other significant tenants.
  • We may experience difficulty or delay in renewing leases or leasing vacant space.
  • Our development activities are inherently risky.
  • Developments, redevelopments and acquisitions may fail to perform as expected.
  • Our performance and value are subject to general risks associated with the real estate industry.
  • Our results of operations may be negatively affected by adverse trends in the retail and office real estate sectors.
  • Many real estate costs are fixed, even if income from our properties decreases.
  • Competition may limit our ability to purchase new properties and generate sufficient income from tenants.
  • We may be unable to sell properties when appropriate because real estate investments are illiquid.
  • We have substantial relationships with members of the Saul Organization whose interests could conflict with the interests of other stockholders.
  • The amount of debt we have and the restrictions imposed by that debt could adversely affect our business and financial condition.
  • We are obligated to comply with financial and other covenants in our debt that could restrict our operating activities, and the failure to comply could result in defaults that accelerate the payment under our debt.
  • The phase-out of LIBOR could affect interest rates under our variable rate debt and interest rate swap arrangements.
  • Environmental laws and regulations could reduce the value or profitability of our properties.
  • The Americans with Disabilities Act of 1990 (the “ADA”) could require us to take remedial steps with respect to newly acquired properties.
  • The revenue generated by our tenants could be negatively affected by various federal, state and local laws to which they are subject.
  • Failure to qualify as a REIT for federal income tax purposes would cause us to be taxed as a corporation, which would substantially reduce funds available for payment of distributions.
  • We may be required to incur additional debt to qualify as a REIT.
  • Legislative, administrative, regulatory or other actions affecting REITs, including positions taken by the IRS, could have a material adverse effect on us and our investors.
  • To maintain our status as a REIT, we limit the amount of shares any one stockholder can own.
  • Financial and economic conditions may have an adverse impact on us, our tenants’ businesses and our results of operations.
  • Our insurance coverage on our properties may be inadequate.
  • Natural disasters and climate change could have an adverse impact on our cash flow and operating results.
  • We cannot assure you we will continue to pay dividends at historical rates.
  • Certain tax and anti-takeover provisions of our articles of incorporation and bylaws may inhibit a change of our control.
  • Cybersecurity risks and cyber incidents could adversely affect our business, disrupt operations and expose us to liabilities to tenants, employees, capital providers and other third parties.
  • We may amend or revise our business policies without your approval.
Management Discussion
  • Item 2.    Management’s Discussion and Analysis of Financial Condition and Results of Operations
  • This section should be read in conjunction with the consolidated financial statements of the Company and the accompanying notes in “Item 1. Financial Statements” of this report and the more detailed information contained in the Company’s Form 10-K for the year ended December 31, 2020. Historical results and percentage relationships set forth in Item 1 and this section should not be taken as indicative of future operations of the Company. Capitalized terms used but not otherwise defined in this section have the meanings given to them in Item 1 of this Form 10-Q.
  • •an epidemic or pandemic (such as the outbreak and worldwide spread of COVID-19), and the measures that international, federal, state and local governments, agencies, law enforcement and/or health authorities implement to address it, which may (as with COVID-19) precipitate or exacerbate one or more of the above-mentioned and/or other risks, and significantly disrupt or prevent us from operating our business in the ordinary course for an extended period.
Content analysis
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H.S. junior Bad
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