Revenue Growth - Total revenue for Q3 2024 increased to $67.3 million, up from $63.8 million in Q3 2023, representing a growth of 5.5%[1] - For the nine months ended September 30, 2024, total revenue increased to $200.9 million from $190.5 million, a growth of 7.0%[2] - Total revenue for the nine months ended September 30, 2024, reached $200,923,000, up 5.5% from $190,524,000 in the same period of 2023[4] Net Income - Net income for Q3 2024 rose to $19.6 million, compared to $16.7 million in Q3 2023, an increase of 17.4%[1] - Net income for the nine months ended September 30, 2024, increased to $57.3 million, compared to $51.6 million in the same period of 2023, an increase of 11.0%[2] - Net income attributable to Saul Centers, Inc. for Q3 2024 was $14,481,000, a 13% increase compared to $12,819,000 in Q3 2023[4] - Net income for the three months ended September 30, 2024, was $19,592,000, compared to $16,711,000 for the same period in 2023, representing a 11.1% increase[9] - Net income available to common stockholders for the nine months ended September 30, 2024, was $34,164,000, compared to $31,088,000 in the same period of 2023[4] Funds from Operations (FFO) - Funds from operations (FFO) available to common stockholders increased to $28.9 million, or $0.84 per share, from $26.0 million, or $0.78 per share, in Q3 2023[1] - Funds from Operations (FFO) for Q3 2024 was $31,664,000, representing a 10% increase from $28,807,000 in Q3 2023[5] - Basic FFO per share available to common stockholders for Q3 2024 was $0.84, up from $0.78 in Q3 2023[5] Property Performance - Same property revenue increased by $3.5 million, or 5.5%, for Q3 2024 compared to Q3 2023[1] - Same property operating income for the nine months increased by $7.3 million, or 5.2%[2] - Total same property revenue for Q3 2024 was $67,288,000, an increase of 5.9% from $63,766,000 in Q3 2023[7] - Shopping Center same property operating income increased by $5.6 million to $109.1 million, primarily due to higher lease termination fees and base rent[2] - Total same property operating income for the nine months ended September 30, 2024, reached $147,759,000, compared to $140,433,000 in 2023, reflecting a 5.3% increase[9] Leasing and Portfolio - As of September 30, 2024, 95.7% of the commercial portfolio was leased, up from 94.2% a year earlier[1] Operating Income - Property operating income for the same period was $49,557,000, up from $46,405,000, indicating a 4.6% growth year-over-year[9] - Shopping Centers generated operating income of $36,362,000 for the three months ended September 30, 2024, compared to $34,069,000 in 2023, marking a 6.7% rise[9] - Mixed-Use properties contributed $13,195,000 to operating income for the three months ended September 30, 2024, compared to $12,336,000 in the same period last year, a 7% increase[10] - Office mixed-use properties reported $6,847,000 in operating income for the three months ended September 30, 2024, up from $6,177,000 in 2023, a 10.9% increase[10] - Residential mixed-use properties (residential activity) generated $5,489,000 for the three months ended September 30, 2024, compared to $5,297,000 in 2023, a 3.6% increase[10] Expenses - General and administrative expenses for the three months ended September 30, 2024, were $5,680,000, compared to $5,179,000 in the same period last year, a 9.7% increase[9] - The company reported a total of $36,928,000 in interest expense and amortization of deferred debt costs for the nine months ended September 30, 2024, compared to $36,518,000 in 2023[9] Strategic Focus - The company continues to focus on enhancing same property operating income as a key performance metric, excluding properties not in operation for the entire reporting periods[9]

BETHESDA, Md., Nov. 7, 2024 /PRNewswire/ -- Saul Centers, Inc. (NYSE: BFS), an equity real estate investment trust ("REIT"), announced operating results for the quarter ended September 30, 2024 ("2024 Quarter").  Total revenue for the 2024 Quarter increased to $67.3 million from $63.8 million for the quarter ended September 30, 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) ...

While "the trend is your friend" when it comes to short-term investing or trading, timing entries into the trend is a key determinant of success. And increasing the odds of success by making sure the sustainability of a trend isn't easy. The trend often reverses before exiting the trade, leading to a short-term capital loss for investors. So, for a profitable trade, one should confirm factors such as sound fundamentals, positive earnings estimate revisions, etc. that could keep the momentum in the stock ali ...

Because of current laws, Real Estate Investment Trusts are popular among retirees. One reason is they're required by law to pay out most of their taxable income in the form of Sign Up For A FREE 2-Week Trial Join iREIT® on Alpha today... for more in-depth research on REITs, mREITs, Preferreds, BDCs, MLPs, ETFs, Builders, and Asset Managers. You'll get more articles throughout the week, and access to our Ratings Tracker with buy/sell recommendations on all the stocks we cover. Plus unlimited access to our mu ...

When it comes to short-term investing or trading, they say "the trend is your friend." And there's no denying that this is the most profitable strategy. But making sure of the sustainability of a trend to profit from it is easier said than done. Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate re ...

For Immediate Release Chicago, IL – September 16, 2024 – Today, Zacks Equity Research discusses, Brixmor Property Group Inc. (BRX) , Tanger Inc. (SKT) and Saul Centers, Inc. (BFS) . Industry: Retail REITs Link: https://www.zacks.com/commentary/2335779/3-retail-reits-poised-to-gain-from-upbeat-industryfundamentals The Zacks REIT and Equity Trust - Retail industry constituents are expected to benefit from the consumers' preference for in-store shopping experiences and the limited new supply of retail real est ...

The Zacks REIT and Equity Trust - Retail industry constituents are expected to benefit from the consumers' preference for in-store shopping experiences and the limited new supply of retail real estate space. Retail landlords' initiatives to bolster omnichannel retailing, enhance adaptive reuse capabilities and focus on ecommerce resistant sectors are expected to drive the industry's growth, posing Brixmor Property Group Inc. (BRX) , Tanger Inc. (SKT) and Saul Centers, Inc. (BFS) to benefit. However, concern ...

When it comes to short-term investing or trading, they say "the trend is your friend." And there's no denying that this is the most profitable strategy. But making sure of the sustainability of a trend to profit from it is easier said than done. The trend often reverses before exiting the trade, leading to a short-term capital loss for investors. So, for a profitable trade, one should confirm factors such as sound fundamentals, positive earnings estimate revisions, etc. that could keep the momentum in the s ...

Kwarkot Introduction If you're an investor solely focused on investing for income, you're likely over the age of 59 1/2 or the full retirement age of 66. REITs are great income vehicles due to their higher-than-average yields and reliability. If you can find a REIT with an attractive yield in the mid to high single digits with solid fundamentals, then you should consider them for your portfolio. So, if you're scouring the market for one, you may be in luck. One that fits the bill is shopping center REIT, Sa ...

Saul Centers (BFS) came out with quarterly funds from operations (FFO) of $0.83 per share, beating the Zacks Consensus Estimate of $0.77 per share. This compares to FFO of $0.78 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an FFO surprise of 7.79%. A quarter ago, it was expected that this real estate investment trust involved mostly in shopping malls would post FFO of $0.77 per share when it actually produced FFO of $0.80, delivering a surprise o ...