Saul Centers Q4 2024 Earnings Report
Key Takeaways
Saul Centers, Inc. reported an increase in total revenue but a decrease in net income for the quarter ended December 31, 2024. The decrease in net income was primarily due to the initial operations of Twinbrook Quarter Phase I and lower lease termination fees, partially offset by higher commercial base rent.
Total revenue increased to $67.9 million from $66.7 million compared to the same quarter last year.
Net income decreased to $10.4 million from $17.5 million compared to the same quarter last year.
FFO available to common stockholders and noncontrolling interests decreased to $22.0 million, or $0.63 per basic and diluted share.
As of December 31, 2024, 95.2% of the commercial portfolio was leased compared to 94.1% as of December 31, 2023.
Saul Centers
Saul Centers
Saul Centers Revenue by Segment
Forward Guidance
The company provided forward-looking statements regarding future performance, cautioning readers about various risk factors that could impact their expectations.