Saul Centers Q4 2020 Earnings Report
Key Takeaways
Saul Centers, Inc. reported an increase in total revenue to $58.3 million but a decrease in net income to $11.7 million for the fourth quarter ended December 31, 2020. The Waycroft's initial operations and higher credit losses on operating lease receivables negatively impacted net income. As of February 23, 2021, 94% of total billings have been paid by tenants.
Total revenue increased to $58.3 million from $56.6 million year-over-year.
Net income decreased to $11.7 million from $15.0 million year-over-year, impacted by The Waycroft and higher credit losses.
Net income available to common stockholders was $6.6 million ($0.28 per diluted share) compared to $6.5 million ($0.27 per diluted share) year-over-year.
Funds From Operations (FFO) available to common stockholders increased to $22.1 million ($0.71 per diluted share) from $19.8 million ($0.64 per diluted share) year-over-year.
Saul Centers
Saul Centers
Saul Centers Revenue by Segment
Revenue & Expenses
Visualization of income flow from segment revenue to net income