Saul Centers, Inc. - BFS STOCK NEWS

Saul Centers reported strong Q3 2024 results with total revenue increasing to $67.3 million from $63.8 million in Q3 2023. Net income rose to $19.6 million from $16.7 million, while net income per share increased to $0.48 from $0.42. The company's performance was driven by higher base rent (+$2.2M), increased lease termination fees (+$0.6M), and improved expense recoveries. Same property revenue grew 5.5%, and FFO available to common stockholders increased to $28.9 million ($0.84 per basic share). The commercial portfolio occupancy improved to 95.7% from 94.2% year-over-year, while residential occupancy reached 98.8%.

Saul Centers (NYSE: BFS) has declared a quarterly dividend of $0.59 per share on its common stock, payable on October 31, 2024, to holders of record on October 15, 2024. This dividend remains unchanged from the previous quarter and the same quarter last year. The company also announced quarterly dividends for its preferred stocks:

- 6.125% Series D Cumulative Redeemable Preferred Stock: $0.3828125 per depositary share
- 6.000% Series E Cumulative Redeemable Preferred Stock: $0.3750000 per depositary share

Preferred dividends will be paid on October 15, 2024, to holders of record on October 1, 2024. Saul Centers is a self-managed equity REIT with a portfolio of 61 properties, including 57 community and neighborhood shopping centers and mixed-use properties, and 4 land and development properties. Over 85% of the company's property operating income comes from the Washington, DC/Baltimore metropolitan area.

Saul Centers, Inc. (NYSE: BFS) reported strong Q2 2024 earnings, with total revenue increasing to $66.9 million from $63.7 million in Q2 2023. Net income rose to $19.5 million, up from $17.2 million, primarily due to higher lease termination fees and increased commercial and residential base rent. Net income available to common stockholders grew to $11.6 million, or $0.48 per share, compared to $10.4 million, or $0.43 per share, in Q2 2023.

Same property revenue and operating income both increased by 5.1%. The company's FFO available to common stockholders increased to $28.5 million, or $0.83 per share, up from $26.5 million, or $0.79 per share, in Q2 2023. As of June 30, 2024, the commercial portfolio was 95.8% leased, and the residential portfolio was 99.4% leased.

Saul Centers (NYSE: BFS) announced a quarterly dividend of $0.59 per share on its common stock, payable on July 31, 2024, to shareholders of record as of July 15, 2024. The dividend amount remains unchanged from the previous quarter and the same quarter last year. Additionally, the company declared dividends on its 6.125% Series D Cumulative Redeemable Preferred Stock ($0.3828125 per share) and its 6.000% Series E Cumulative Redeemable Preferred Stock ($0.375 per share), both payable on July 15, 2024, to holders of record on July 1, 2024.

Saul Centers is a self-managed, self-administered REIT based in Bethesda, Maryland, managing a portfolio of 61 properties, including 57 shopping centers and mixed-use properties spanning 9.8 million square feet of leasable area, and four land and development properties. Over 85% of the operating income is generated from properties in the Washington, DC/Baltimore area.

Saul Centers, Inc. reported positive financial results for the first quarter of 2024, with total revenue increasing to $66.7 million and net income rising to $18.3 million. Same property revenue and operating income also saw significant boosts compared to the previous year. The company's Funds from Operations (FFO) increased to $27.5 million, reflecting a strong operating performance. Saul Centers, Inc. maintains high occupancy rates in both commercial and residential portfolios.

Saul Centers, Inc. (NYSE: BFS) declares a quarterly dividend of $0.59 per share on its common stock, unchanged from the previous quarter. The Company also announces dividends on its preferred stocks. Saul Centers operates 61 properties, mainly in the Washington, DC/Baltimore area.

Saul Centers, Inc. (BFS) reported positive financial results for the quarter and year ended December 31, 2023, with increases in total revenue and net income. Same property revenue and operating income also saw growth. Funds From Operations (FFO) increased, driven by higher termination fees and base rent. The commercial portfolio's leasing percentage improved. The company's focus on the metropolitan Washington, DC/Baltimore area remains strong.

Saul Centers, Inc. (NYSE: BFS) announced the income tax treatment of its 2023 dividends, with 74.2% of the dividends characterized as ordinary income and 25.8% as return of capital. The company declared and paid four quarterly dividends on its Common Stock totaling $2.36 per share. For tax purposes, the ordinary income portion will be reported as section 199A dividends. Additionally, the company declared and paid dividends on its preferred stock, with 100.0% of the dividends characterized as ordinary income. Saul Centers, Inc. is a self-managed, self-administered equity REIT headquartered in Bethesda, Maryland, operating a real estate portfolio of 61 properties, primarily in the metropolitan Washington, DC/Baltimore area.

Saul Centers, Inc. (NYSE: BFS) declares unchanged quarterly dividend of $0.59 per share on common stock. The company also declares quarterly dividends on its preferred stocks. Saul Centers is a self-managed equity REIT with a real estate portfolio of 61 properties, primarily in the metropolitan Washington, DC/Baltimore area.