Saul Centers Inc
NYSE:BFS

  • LAST PRICE
    40.2200
  • TODAY'S CHANGE (%)
    0.4400 (1.1061%)
  • Bid / Lots
    ---/ ---
  • Ask / Lots
    40.6300/ 1
  • Open / Previous Close
    40.0300 / 39.7800
  • Day Range
    39.9300
    40.2950
  • 52 Week Range
    34.8700
    42.3899
  • Volume
    33,396

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  • Nov 7, 2024

      Show headlines and story abstract

    • 4:15PM ET on Thursday Nov 07, 2024 by MT Newswires
      Companies Mentioned: BFS
      04:15 PM EST, 11/07/2024 (MT Newswires) -- ...

    • 4:14PM ET on Thursday Nov 07, 2024 by MT Newswires
      Companies Mentioned: BFS
      04:14 PM EST, 11/07/2024 (MT Newswires) -- ...

    • 4:14PM ET on Thursday Nov 07, 2024 by PR Newswire
      Companies Mentioned: BFS

      Saul Centers, Inc. (NYSE: BFS), an equity real estate investment trust ("REIT"), announced operating results for the quarter ended September30, 2024 ("2024 Quarter"). Total revenue for the 2024 Quarter increased to $67.3 million from $63.8million for the quarter ended September30, 2023 ("2023 Quarter"). Net income increased to $19.6 million for the 2024 Quarter from $16.7 million for the 2023 Quarter primarily due to (a) higher base rent of $2.2 million, (b) higher lease termination fees of $0.6 million, (c)higher expense recoveries, net of expenses, of $0.2 million and (d) higher percentage rent of $0.1million, partially offset by (e) higher general and administrative costs of $0.5 million. Net income available to common stockholders increased to $11.7 million, or $0.48per basic and diluted share, for the 2024 Quarter from $10.0 million, or $0.42per basic and diluted share, for the 2023 Quarter.

    • 4:13PM ET on Thursday Nov 07, 2024 by Dow Jones
      Companies Mentioned: BFS
      operating income $ 49,557 $ 46,405 $ 147,759 $ 140,433 ================= ================= ================= ================= Shopping Centers $ 36,362 $ 34,069 $ 109,143 $ 103,547 Mixed-Use properties 13,195 12,336 38,616 36,886 ----------------- ----------------- ----------------- ----------------- Total same property operating income $ 49,557 $ 46,405 $ 147,759 $ 140,433 ================= ================= ================= ================= Shopping Center operating income $ 36,362 $ 34,069 $ 109,143 $ 103,547 Less: Shopping Center acquisitions, dispositions and development properties -- -- -- -- ----------------- ----------------- ----------------- ----------------- Total same Shopping Center operating income $ 36,362 $ 34,069 $ 109,143 $ 103,547 ================= ================= ================= ================= Mixed-Use property operating income $ 13,195 $ 12,336 $ 38,616 $ 36,886 Less: Mixed-Use acquisitions, dispositions and development properties -- -- -- -- ----------------- ----------------- ----------------- ----------------- Total same Mixed-Use property operating income $ 13,195 $ 12,336 $ 38,616 $ 36,886 ================= ================= ================= ================= (1) Same property operating income is a non-GAAP financial measure of performance that management believes improves the comparability of reporting periods by excluding the results of properties that were not in operation for the entirety of the comparable reporting periods. Same property operating income adjusts property operating income by subtracting the results of properties that were not in operation for the entirety of the comparable periods. Same property operating income is a measure of the operating performance of the Company's properties but does not measure the Company's performance as a whole. Same property operating income should not be considered as an alternative to property operating income, its most directly comparable GAAP measure, as an indicator of the Company's operating performance. Management considers same property operating income a meaningful supplemental measure of operating performance because it is not affected by the cost of the Company's funding, the impact of depreciation and amortization expenses, gains or losses from the acquisition and sale of operating real estate assets, general and administrative expenses or other gains and losses that relate to ownership of the Company's properties. Management believes the exclusion of these items from property operating income is useful because the resulting measure captures the actual revenue generated and actual expenses incurred by operating the Company's properties. Other REITs may use different methodologies for calculating same property operating income. Accordingly, same property operating income may not be comparable to those of other REITs. Mixed-Use same property operating income is composed of the following: Three Months Ended Nine Months Ended September 30, September 30, ---------------------------------------- ------------------------------------ (Dollars in thousands) 2024 2023 2024 2023 ------------------- ------------------- ----------------- ----------------- Office mixed-use properties (1) $ 6,847 $ 6,177 $ 19,644 $ 18,354 Residential mixed-use properties (residential activity) (2) 5,489 5,297 16,412 16,023 Residential mixed-use properties (retail activity) (3) 859 862 2,560 2,509 ------------------- ------------------- ----------------- ----------------- Total Mixed-Use same property operating income $ 13,195 $ 12,336 $ 38,616 $ 36,886 =================== =================== ================= ================= (1) Includes Avenel Business Park, Clarendon Center -- North and South Blocks, 601 Pennsylvania Avenue and Washington Square (2) Includes Clarendon South Block, The Waycroft and Park Van Ness (3) Includes The Waycroft and Park Van Ness

    • 4:13PM ET on Thursday Nov 07, 2024 by Dow Jones
      Companies Mentioned: BFS
      operating income $ 49,557 $ 46,405 $ 147,759 $ 140,433 ================= ================= ================= ================= Shopping Centers $ 36,362 $ 34,069 $ 109,143 $ 103,547 Mixed-Use properties 13,195 12,336 38,616 36,886 ----------------- ----------------- ----------------- ----------------- Total same property operating income $ 49,557 $ 46,405 $ 147,759 $ 140,433 ================= ================= ================= ================= Shopping Center operating income $ 36,362 $ 34,069 $ 109,143 $ 103,547 Less: Shopping Center acquisitions, dispositions and development properties -- -- -- -- ----------------- ----------------- ----------------- ----------------- Total same Shopping Center operating income $ 36,362 $ 34,069 $ 109,143 $ 103,547 ================= ================= ================= ================= Mixed-Use property operating income $ 13,195 $ 12,336 $ 38,616 $ 36,886 Less: Mixed-Use acquisitions, dispositions and development properties -- -- -- -- ----------------- ----------------- ----------------- ----------------- Total same Mixed-Use property operating income $ 13,195 $ 12,336 $ 38,616 $ 36,886 ================= ================= ================= ================= (1) Same property operating income is a non-GAAP financial measure of performance that management believes improves the comparability of reporting periods by excluding the results of properties that were not in operation for the entirety of the comparable reporting periods. Same property operating income adjusts property operating income by subtracting the results of properties that were not in operation for the entirety of the comparable periods. Same property operating income is a measure of the operating performance of the Company's properties but does not measure the Company's performance as a whole. Same property operating income should not be considered as an alternative to property operating income, its most directly comparable GAAP measure, as an indicator of the Company's operating performance. Management considers same property operating income a meaningful supplemental measure of operating performance because it is not affected by the cost of the Company's funding, the impact of depreciation and amortization expenses, gains or losses from the acquisition and sale of operating real estate assets, general and administrative expenses or other gains and losses that relate to ownership of the Company's properties. Management believes the exclusion of these items from property operating income is useful because the resulting measure captures the actual revenue generated and actual expenses incurred by operating the Company's properties. Other REITs may use different methodologies for calculating same property operating income. Accordingly, same property operating income may not be comparable to those of other REITs. Mixed-Use same property operating income is composed of the following: Three Months Ended Nine Months Ended September 30, September 30, ---------------------------------------- ------------------------------------ (Dollars in thousands) 2024 2023 2024 2023 ------------------- ------------------- ----------------- ----------------- Office mixed-use properties (1) $ 6,847 $ 6,177 $ 19,644 $ 18,354 Residential mixed-use properties (residential activity) (2) 5,489 5,297 16,412 16,023 Residential mixed-use properties (retail activity) (3) 859 862 2,560 2,509 ------------------- ------------------- ----------------- ----------------- Total Mixed-Use same property operating income $ 13,195 $ 12,336 $ 38,616 $ 36,886 =================== =================== ================= ================= (1) Includes Avenel Business Park, Clarendon Center -- North and South Blocks, 601 Pennsylvania Avenue and Washington Square (2) Includes Clarendon South Block, The Waycroft and Park Van Ness (3) Includes The Waycroft and Park Van Ness

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