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Saul Centers BFS · USD

Real Estate · US listing · 🇺🇸 United States

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28.81

+0.95%

Close of 9 Nov 2026, in USD

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About Saul Centers

From its filings with the US Securities and Exchange Commission

SEC filings

Saul Centers is based in Bethesda, Maryland and is incorporated in Maryland. Its shares trade on NYSE under the ticker BFS. The SEC classifies its business as real estate investment trusts. In the fiscal year to 31 December 2025, it reported revenue of $289.8m and net income of $37.5m. At that date it held total assets of $2.16bn and shareholders' equity of $307.8m.

In its own words

Saul Centers, Inc. (“Saul Centers”) was incorporated under the Maryland General Corporation Law in 1993, and operates as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”). The Company is required to annually distribute at least 90% of its REIT taxable income (excluding net capital gains) to its stockholders and meet certain organizational and other requirements. Saul Centers has made and intends to continue to make regular quarterly distributions to its stockholders. Saul Centers, together with its wholly-owned subsidiaries and the limited partnerships of which Saul Centers or one of its subsidiaries is the sole general partner, are referred to collectively as the “Company.” B. Francis Saul II serves as Chairman of the Board of Directors (the “Board”) and Chief Executive Officer of Saul Centers.

The Company’s primary strategy is to continue to focus on diversification of its assets through development of transit-oriented, residential mixed-use projects and expansion of and additions to its grocery-anchored shopping centers in the Washington, DC/Baltimore metropolitan area. The Company’s operating strategy also includes improvement of the operating performance of its assets, internal growth of its Shopping Centers through the addition of pad sites, and supplementing its development pipeline with selective redevelopment and renovations of its core Shopping Centers.

Quoted from its 10-K, filed 27 Feb 2026. Read the filing on SEC.gov ↗

Company facts

Sector
Real Estate
Industry
Equity Real Estate Investment Trusts (REITs)
Listed since
19 Aug 1993
Employees
70
Head office
7501 WISCONSIN AVENUE, BETHESDA, MD, 20814
Incorporated in
MD
Classification
Real Estate Investment Trusts
Filer status
Accelerated filer

Leadership

Pay as last reported

  • Mr. B. Francis SaulChairman of the Board, Chief Executive Officer, since 1993$1.4m
  • Mr. D. Todd PearsonPresident, Chief Operating Officer, Director, since 2019$2.2m
  • Ms. Patricia LotuffVice Chairman of the Board$24,375
  • Mr. Philip CaraciIndependent Vice Chairman of the Board, since 1993$144,252
  • Mr. Carlos HeardChief Financial Officer, Senior Vice President$744,446
  • Mr. Joel FriedmanExecutive Vice President, Chief Accounting Officer, Treasurer
  • Ms. Bettina GuevaraExecutive Vice President, Chief Legal and Administrative Officer, Secretary
  • Mr. John CollichSenior Vice President, Chief Acquisitions and Development Officer$763,173
  • Ms. Zachary FriedlisSenior Vice President and Director of Retail Leasing$703,670
  • Ms. Willoughby LaycockDirector$49,083
  • Mr. Andrew SaulDirector$134,252
  • Hon. John ChapotonIndependent Director$134,252

Environmental, social and governance

Scores out of 100, from our data supplier

ESG
Overall
33
Environment
32
Social
46
Governance
22
Carbon reduction policy
No
Human rights policy
No

SWOT analysis

AI-generated by our data supplier. Not written or checked by our editors.

AI-generated

Strengths

  • Saul Centers Inc, a real estate investment trust (REIT), possesses several strengths that contribute to its success and competitive advantage. Firstly, the company boasts a well-diversified portfolio of high-quality retail, office, and residential properties across prominent metropolitan areas. This diversified asset mix helps to mitigate risks and provides stable and recurring rental income streams.
  • Moreover, Saul Centers Inc has a solid financial position with strong liquidity and access to capital markets, allowing the company to fund future acquisitions, developments, and property improvements. Its disciplined financial management and rigorous expense control strategies enable it to maintain sustainable profitability and generate attractive returns for its shareholders.

Weaknesses

  • While Saul Centers Inc demonstrates several strengths, it also faces certain weaknesses that can affect its operations. One challenge is the company's dependency on a small number of anchor tenants in its retail properties. This concentration of tenant risk increases the vulnerability to potential financial difficulties of major tenants, which could impact rental income.
  • Additionally, as a REIT, Saul Centers Inc is exposed to risks related to fluctuations in interest rates and economic downturns. These factors can impact the demand for real estate, rental rates, and overall occupancy levels, potentially affecting the company's financial performance and property valuations.

Opportunities

  • Saul Centers Inc has various opportunities to further enhance its market position and profitability. Firstly, it can pursue strategic acquisitions or joint ventures to expand its property portfolio and geographic reach. By investing in attractive locations and properties with growth potential, the company can increase rental income and optimize its overall return on investment.
  • Furthermore, Saul Centers Inc can leverage technological advancements in the real estate industry, such as implementing smart building technologies, improving digital marketing strategies, and enhancing tenant experience through connectivity and automation. These initiatives can enhance efficiency, attract and retain tenants, and drive future growth.

Threats

  • Saul Centers Inc faces certain threats that could impact its operations and financial performance. Intense competition within the real estate market, including from other commercial property owners and developers, can hamper the company's ability to acquire desirable properties and maintain high occupancy rates.
  • Additionally, changes in government regulations and policies, such as tax laws, zoning regulations, and environmental requirements, can pose challenges and increase compliance costs for Saul Centers Inc. Economic downturns, recessions, or market uncertainties can also negatively affect the demand for real estate, leading to potential decreases in rental rates and occupancy levels.

Sources and methodology

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