Saul Centers: DC Headwinds Offset Organic Growth (Rating Downgrade)

2026-03-07 23:25:13 ET

Shares of Saul Centers ( BFS ) have been a poor performer over the past year, losing about 5% of their value. Shares have been weighed down by its DC-area focus, as that local economy faces more challenges than the national one given reductions in the federal government’s workforce. However, its own development activities are performing in line with my expectations, which should provide incremental cash flow. This view led me to upgrade shares to a “buy” in October , and that call has played out with Saul gaining 10% since then. With updated financials and shares approaching my $36 price target, now is a good time to revisit Saul....

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