Sometimes, the most counterintuitive opportunities tend to make for the most attractive in the long haul. One company that has well exceeded my expectations over the past year or so has been Saul Centers (NYSE:BFS). Had you told me all of the economic uncertainty and volatility that we were going to face over a year ago, I would not have imagined that a REIT with a special concentration on the ownership of shopping centers would have significantly outperformed the broader market. Better last, that is exactly what has transpired with this particular prospect. Moving forward, the picture for the company does look rather solid. And in light of its improved financial performance recently and reasonable share price, I do think that the company probably offers some upside from here. So while I still do believe that there are better opportunities on the market today, I don’t think it’s unreasonable for me to increase my rating on this particular company from the ‘hold’ I had it at previously to a ‘buy’ to reflect my new view that the stock will likely continue to outperform the broader market moving forward.
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