Saul Centers, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 04:26 pm EDT
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Saul Centers, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 62.37 million compared to USD 59.95 million a year ago. Revenue was USD 63.77 million compared to USD 61.09 million a year ago. Net income was USD 12.82 million compared to USD 11.95 million a year ago. Basic earnings per share from continuing operations was USD 0.42 compared to USD 0.38 a year ago. Diluted earnings per share from continuing operations was USD 0.42 compared to USD 0.38 a year ago.
For the nine months, sales was USD 186.2 million compared to USD 179.77 million a year ago. Revenue was USD 190.52 million compared to USD 183.52 million a year ago. Net income was USD 39.48 million compared to USD 38.33 million a year ago. Basic earnings per share from continuing operations was USD 1.29 compared to USD 1.25 a year ago. Diluted earnings per share from continuing operations was USD 1.29 compared to USD 1.25 a year ago.
Saul Centers, Inc. is a real estate investment trust (REIT). The Company conducts all its activities through its subsidiaries, the Operating Partnership and Subsidiary Partnerships, engaged in the ownership, operation, management, leasing, acquisition, renovation, expansion, development and financing of community and neighborhood shopping centers and mixed-used properties, primarily in the Washington, DC/Baltimore metropolitan area. The Company operates through two business segments: Shopping Centers and Mixed-Use Properties. The Company operates and manages a real estate portfolio of over 57 operating properties, totaling approximately 9.8 million square feet of gross leasable area (GLA), and four development properties. The operating property portfolio is composed of 50 neighborhood and community shopping centers, and seven mixed-use properties totaling approximately 7.9 million and 1.9 million square feet of GLA, respectively.
SAUL CENTERS, INC. 
