Saul Centers: Attractive Despite DC Exposure (Upgrade)

Core Viewpoint - Saul Centers (NYSE: BFS) has underperformed significantly over the past year, losing approximately 23% of its value, while the broader market has recovered from its April losses [1] Company Performance - BFS shares have reached new lows despite the overall market recovery, indicating a persistent weakness in the company's stock performance [1] Market Context - The underperformance of BFS is notable as it contrasts with the recovery trends observed in other market segments, suggesting specific challenges faced by the company [1]