B.Riley Assumes Saul Centers (BFS) at Buy

B.Riley analyst John Massocca assumes coverage on Saul Centers (NYSE: BFS) with a Buy rating and a price target of $43.50.

The analyst comments "The expected completion of two major development projects in the next few years should be a major driver of bottom-line growth given that these investments are meaningful and purely dilutive at this time. Core shopping center portfolio seems set for steady if less spectacular growth given strong macro dynamics for this property type. Near-term debt refinancing likely accretive, and current construction lending is all long-term fixed rate. Leverage, office exposure, and limited float/trading volumes remain valuation headwinds."

For an analyst ratings summary and ratings history on Saul Centers click here. For more ratings news on Saul Centers click here.

Shares of Saul Centers closed at $36.23 yesterday.

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