Saul Centers, Inc. Reports Second Quarter 2024 Earnings

BETHESDA, Md., Aug. 1, 2024 /PRNewswire/ -- Saul Centers, Inc. (NYSE: BFS), an equity real estate investment trust ("REIT"), announced operating results for the quarter ended June 30, 2024 ("2024 Quarter").  Total revenue for the 2024 Quarter increased to $66.9 million from $63.7 million for the quarter ended June 30, 2023 ("2023 Quarter").  Net income increased to $19.5 million for the 2024 Quarter from $17.2 million for the 2023 Quarter primarily due to (a) higher lease termination fees of $1.6 million, (b) higher commercial base rent of $0.8 million and (c) higher residential base rent of $0.3 million, partially offset by (d) a lease termination fee paid to a tenant of $0.3 million. Net income available to common stockholders increased to $11.6 million, or $0.48 per basic and diluted share, for the 2024 Quarter from $10.4 million, or $0.43 per basic and diluted share, for the 2023 Quarter.

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