BETHESDA, MD – Saul Centers, Inc. (NYSE:BFS), a real estate investment trust with a market capitalization of $1.27 billion, announced the departure of J. Page Lansdale from its Board of Directors. The resignation took effect on January 9, 2025, as disclosed in a recent filing with the Securities and Exchange Commission.
The company clarified that Lansdale's departure was not due to any disagreements regarding operations, policies, or practices. The specifics of the resignation, including any plans for a successor or the impact on the board's composition, were not provided in the filing.
Saul Centers, Inc., headquartered in Bethesda, Maryland, is known for its ownership and operation of community and neighborhood shopping centers and mixed-use properties primarily in the Washington, DC/Baltimore metropolitan area.
The company, which maintains a GOOD financial health score according to InvestingPro, has demonstrated resilience with a 5.83% revenue growth over the last twelve months. Lansdale's resignation comes at a time when the company continues to navigate the retail and real estate environment, which has been experiencing shifts in consumer behavior and economic challenges.
The company's stock, which is listed on the New York Stock Exchange under the ticker BFS, as well as its preferred stock series D (NYSE:BFS/PRD) and series E (NYSE:BFS/PRE), remains actively traded. Trading at a P/E ratio of 20.19, the company stands out for its impressive 33-year streak of consecutive dividend payments, currently offering a 6.37% yield. InvestingPro analysis suggests the stock is slightly undervalued at current levels.
As of the last report, the company has not provided any further details about the resignation or about potential changes to its executive team or strategic direction.
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