{"id":872969,"date":"2025-08-07T19:22:03","date_gmt":"2025-08-07T23:22:03","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/saul-centers-inc-reports-second-quarter-2025-earnings\/"},"modified":"2025-08-07T19:22:03","modified_gmt":"2025-08-07T23:22:03","slug":"saul-centers-inc-reports-second-quarter-2025-earnings","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/saul-centers-inc-reports-second-quarter-2025-earnings\/","title":{"rendered":"Saul Centers, Inc. Reports Second Quarter 2025 Earnings"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n
\n BETHESDA, Md.<\/span>
\n <\/span>, Aug. 7, 2025<\/span><\/span> \/PRNewswire\/ — Saul Centers<\/span>, Inc. (NYSE: BFS), an equity real estate investment trust (“REIT”), announced operating results for the quarter ended June\u00a030, 2025 (“2025 Quarter”).\u00a0 Total revenue for the 2025 Quarter increased to $70.8 million<\/span> from $66<\/span>.9\u00a0million for the quarter ended June\u00a030, 2024 (“2024 Quarter”).\u00a0 Net income decreased to $14.2 million<\/span> for the 2025 Quarter from $19<\/span>.5\u00a0million for the 2024 Quarter. During the 2025 Quarter, the Company continued to lease residential units and work on retail spaces at Twinbrook Quarter Phase I.\u00a0 On June 25, 2025<\/span>, Wegmans commenced operations, and as of August\u00a04,\u00a02025, 389 of the 452 (86.1%) residential units were leased and occupied.\u00a0<\/p>\n

Concurrent with the initial delivery of Twinbrook Quarter Phase I on October 1, 2024<\/span>, interest, real estate taxes, depreciation and all other costs associated with the residential portion and the majority of the retail portion of the property began to be charged to expense, while revenue continues to grow as occupancy increases. As a result, compared to the 2024 Quarter, net income for the 2025 Quarter was adversely impacted by $5.4 million<\/span>, of which $3.5 million<\/span> was a reduction in capitalized interest, due to the initial operations of Twinbrook Quarter Phase I.\u00a0 Net income available to common stockholders decreased to $7.9 million<\/span>, or $0<\/span>.33\u00a0per basic and diluted share, for the 2025 Quarter from $11.6 million<\/span>, or $0<\/span>.48\u00a0per basic and diluted share, for the 2024 Quarter. As compared to the 2024 Quarter, net income available to common stockholders for the 2025 Quarter was adversely impacted by $2<\/span>.9\u00a0million, or $0.12<\/span> per basic and diluted share, due to the initial operations of Twinbrook Quarter Phase I.<\/p>\n

Same property revenue decreased $1.5 million<\/span>, or 2.2%, and same property net operating income decreased $2<\/span>.2\u00a0million, or 4.3%, for the 2025 Quarter compared to the 2024 Quarter.\u00a0 The $1.5 million<\/span> decrease in same property revenue for the 2025 Quarter compared to the 2024 Quarter was primarily due to (a) lower lease termination fees of $2.0 million<\/span> partially offset by (b) higher expense recoveries of $0.3 million<\/span>.\u00a0 Shopping Center same property net operating income for the 2025 Quarter totaled $35.3 million<\/span>, a decrease of $2.1 million<\/span> compared to the 2024 Quarter.\u00a0 Shopping Center same property net operating income decreased primarily due to to\u00a0lower lease termination fees of $2.1 million<\/span>. One property, Twinbrook Quarter Phase I, was excluded from same property results.\u00a0 Reconciliations of (a) total revenue to same property revenue and (b)\u00a0net income to same property net operating income are attached to this press release.\u00a0<\/p>\n

Same property revenue and same property operating income are non-GAAP financial measures of performance that management believes improve the comparability of reporting periods by excluding the results of properties that were not in operation for the entirety of the comparable reporting periods. We define same property revenue as total revenue less straight-line base rent and above\/below market lease amortization of leases acquired in connection with purchased real estate investment properties minus the revenue of properties not in operation for the entirety of the comparable reporting periods, and we define same property net operating income as net income plus (a) interest expense, net and amortization of deferred debt costs, (b)\u00a0depreciation and amortization of deferred leasing costs, (c) general and administrative expenses, (d) change in fair value of derivatives, and (e)\u00a0loss on the early extinguishment of debt minus (f) gains on property dispositions, (g) straight-line base rent, (h) above\/below market lease amortization of leases acquired in connection with purchased real estate investment properties and (i) the net operating income of properties that were not in operation for the entirety of the comparable periods.<\/p>\n

Funds from operations (“FFO”) available to common stockholders and noncontrolling interests (after deducting preferred stock dividends) decreased to $25.4 million<\/span>, or $0.73<\/span> per basic and diluted share, in the 2025 Quarter compared to $28<\/span>.5\u00a0million, or $0.83<\/span> per basic and diluted share, in the 2024 Quarter.\u00a0 FFO is a non-GAAP supplemental earnings measure that the Company considers meaningful in measuring its operating performance.\u00a0 A reconciliation of net income to FFO is attached to this press release.\u00a0 FFO available to common stockholders and noncontrolling interests was adversely impacted by $3<\/span>.2\u00a0million, or $0.09<\/span> per basic and diluted share, due to the initial operations of Twinbrook Quarter Phase I.<\/p>\n

As of June\u00a030, 2025, 94.0% of the commercial portfolio was leased compared to 95.8% as of June\u00a030, 2024. As of June\u00a030, 2025, excluding The Milton at Twinbrook Quarter, the residential portfolio was 99.0% leased compared to 99.4% as of June\u00a030, 2024.<\/p>\n

For the six months ended June\u00a030, 2025 (“2025 Period”), total revenue increased to $142.7 million<\/span> from $133.6 million<\/span> for the six months ended June\u00a030, 2024 (“2024 Period”).\u00a0 Net income decreased to $27.0 million<\/span> for the 2025 Period from $37<\/span>.8\u00a0million for the 2024 Period.\u00a0 The decrease in net income was primarily due to the initial operations of Twinbrook Quarter Phase I, which adversely impacted net income by $11<\/span>.6\u00a0million, of which $7.1 million<\/span> was a reduction of capitalized interest. Exclusive of Twinbrook Quarter Phase I, net income increased by $0.9 million<\/span> primarily due to (a) higher commercial base rent of $4.3 million<\/span> and (b) higher residential base rent of $0.7 million<\/span> partially offset by (c) lower lease termination fees of $2<\/span>.1\u00a0million, (d) lower expense recoveries, net of expenses, of $1.1 million<\/span>, (e) lower other property revenue of $0.5 million<\/span> and (f) higher general and administrative costs of $0.4 million<\/span>. Net income available to common stockholders decreased to $14.9 million<\/span>, or $0<\/span>.62\u00a0per basic and diluted share, for the 2025 Period compared to $22<\/span>.5\u00a0million, or $0<\/span>.93\u00a0per basic and diluted share, for the 2024 Period. As compared to the 2024 Period, net income available to common stockholders for the 2025 Period was adversely impacted by $6<\/span>.4\u00a0million, or $0.26<\/span> per basic and diluted share, due to the initial operations of Twinbrook Quarter Phase I.<\/p>\n

Same property revenue increased $0.3 million<\/span>, or 0.2%, and same property net operating income decreased $2.4 million<\/span>, or 2.4%, for the 2025 Period compared to the 2024 Period. Shopping Center same property net operating income decreased by $2<\/span>.6\u00a0million to $70.6 million<\/span> primarily due to lower lease termination fees of $2.3 million<\/span>. One property, Twinbrook Quarter Phase I, was excluded from same property results.<\/p>\n

FFO available to common stockholders and noncontrolling interests, after deducting preferred stock dividends, decreased to $49.9 million<\/span>, or $1.44<\/span> per basic and diluted share, in the 2025 Period from $56.0 million<\/span>, or $1.63<\/span> per basic and diluted share, in the 2024 Period. FFO available to common stockholders and noncontrolling interests was adversely impacted by $7<\/span>.3\u00a0million, or $0.21<\/span> per basic and diluted share, due to the initial operations of Twinbrook Quarter Phase I. Exclusive of Twinbrook Quarter Phase I, FFO available to common stockholders and noncontrolling interests increased by $1<\/span>.2\u00a0million primarily due to (a) higher commercial base rent of $4.3 million<\/span> and (b) higher residential base rent of $0<\/span>.7\u00a0million partially offset by (c) lower lease termination fees of $2.1 million, (d) lower expense recoveries, net of expenses, of $1.1 million and (e)\u00a0lower other property revenue of $0.5 million.<\/p>\n

\n Saul Centers<\/span>, Inc. is a self-managed, self-administered equity REIT headquartered in Bethesda, Maryland<\/span>, which currently operates and manages a real estate portfolio of 62 properties, which includes (a) 50 community and neighborhood shopping centers and eight mixed-use properties with approximately 10.2\u00a0million square feet of leasable area and (b) four non-operating land and development properties. Over 85% of the Saul Centers’ property net operating income is generated by properties in the metropolitan Washington,\u00a0D.C.\/Baltimore<\/span> area.<\/p>\n

\n Safe Harbor Statement<\/u>\n <\/p>\n

Certain matters discussed within this press release may be deemed to be forward-looking statements within the meaning of the federal securities laws.\u00a0 For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.\u00a0 Although the Company believes the expectations reflected in the forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained.\u00a0 These factors include, but are not limited to, the risk factors described in our Annual Report on Form 10-K for the year ended December\u00a031, 2024 and include the following: (i) the ability of our tenants to pay rent, (ii) our reliance on shopping center “anchor” tenants and other significant tenants, (iii) our substantial relationships with members of the B. F. Saul Company and certain other affiliated entities, each of which is controlled by B. Francis Saul II<\/span> and his family members, (iv) risks of financing, such as increases in interest rates, restrictions imposed by our debt, our ability to meet existing financial covenants and our ability to consummate planned and additional financings on acceptable terms, (v) our development activities, (vi) our access to additional capital, (vii)\u00a0our ability to successfully complete additional acquisitions, developments or redevelopments, or if they are consummated, whether such acquisitions, developments or redevelopments perform as expected, (viii) adverse trends in the retail, office and residential real estate sectors, (ix) risks relating to cybersecurity, including disruption to our business and operations and exposure to liabilities from tenants, employees, capital providers, and other third parties, (x) risks generally incident to the ownership of real property, including adverse changes in economic conditions, changes in the investment climate for real estate, changes in real estate taxes and other operating expenses, adverse changes in governmental rules and fiscal policies, the relative illiquidity of real estate and environmental risks, and (xi) risks related to our status as a REIT for federal income tax purposes, such as the existence of complex regulations relating to our status as a REIT, the effect of future changes to REIT requirements as a result of new legislation and the adverse consequences of the failure to qualify as a REIT.\u00a0 Given these uncertainties, readers are cautioned not to place undue reliance on any forward-looking statements that we make, including those in this press release.\u00a0 Except as may be required by law, we make no promise to update any of the forward-looking statements as a result of new information, future events or otherwise.\u00a0 You should carefully review the risks and risk factors included in our Annual Report on Form 10-K for the year ended December\u00a031, 2024.<\/p>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n Saul Centers, Inc. <\/b>
\n <\/span>\n <\/p>\n

\n
\n Consolidated Balance Sheets <\/b>
\n <\/span>\n <\/p>\n

\n
\n
\n (Unaudited)<\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n<\/tr>\n
\n

\n
\n (Dollars in thousands, except per share amounts)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n June 30, <\/b>
\n <\/span>\n <\/p>\n

\n
\n 2025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n December 31, <\/b>
\n <\/span>\n <\/p>\n

\n
\n 2024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Assets<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Real estate investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Land<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 556,499<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 562,047<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Buildings and equipment<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,924,757<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,903,907<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Construction in progress<\/span>\n <\/p>\n<\/td>\n

\n

\n 356,511<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 326,193<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n 2,837,767<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,792,147<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Accumulated depreciation<\/span>\n <\/p>\n<\/td>\n

\n

\n (789,860)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (767,842)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total real estate investments, net<\/span>\n <\/p>\n<\/td>\n

\n

\n 2,047,907<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,024,305<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Cash and cash equivalents<\/span>\n <\/p>\n<\/td>\n

\n

\n 5,303<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 10,299<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Accounts receivable and accrued income, net<\/span>\n <\/p>\n<\/td>\n

\n

\n 52,621<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 50,949<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Deferred leasing costs, net<\/span>\n <\/p>\n<\/td>\n

\n

\n 26,579<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 25,907<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other assets<\/span>\n <\/p>\n<\/td>\n

\n

\n 7,274<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 14,944<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total assets<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2,139,684<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2,126,404<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Liabilities<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Mortgage notes payable, net<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,030,839<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,047,832<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Revolving credit facility payable, net<\/span>\n <\/p>\n<\/td>\n

\n

\n 200,876<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 186,489<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Term loan facility payable, net<\/span>\n <\/p>\n<\/td>\n

\n

\n 99,754<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 99,679<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Construction loans payable, net<\/span>\n <\/p>\n<\/td>\n

\n

\n 233,210<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 198,616<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Accounts payable, accrued expenses and other liabilities<\/span>\n <\/p>\n<\/td>\n

\n

\n 45,156<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 46,162<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Deferred income<\/span>\n <\/p>\n<\/td>\n

\n

\n 17,887<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 23,033<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Dividends and distributions payable<\/span>\n <\/p>\n<\/td>\n

\n

\n 23,688<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 23,469<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total liabilities<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,651,410<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,625,280<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Equity<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Preferred stock, 1,000,000 shares authorized:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Series D Cumulative Redeemable, 30,000 shares issued and outstanding<\/span>\n <\/p>\n<\/td>\n

\n

\n 75,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 75,000<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Series E Cumulative Redeemable, 44,000 shares issued and outstanding<\/span>\n <\/p>\n<\/td>\n

\n

\n 110,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 110,000<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Common stock, $0.01 par value, 50,000,000 shares authorized,<\/span>\n <\/p>\n

\n 24,471,554 and 24,302,576 shares issued and outstanding, respectively<\/span>\n <\/p>\n<\/td>\n

\n

\n 245<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 243<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Additional paid-in capital<\/span>\n <\/p>\n<\/td>\n

\n

\n 456,120<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 454,086<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Distributions in excess of accumulated earnings<\/span>\n <\/p>\n<\/td>\n

\n

\n (320,255)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (306,541)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Accumulated other comprehensive income<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,268<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,966<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total Saul Centers, Inc. equity<\/span>\n <\/p>\n<\/td>\n

\n

\n 322,378<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 335,754<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Noncontrolling interests<\/span>\n <\/p>\n<\/td>\n

\n

\n 165,896<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 165,370<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total equity<\/span>\n <\/p>\n<\/td>\n

\n

\n 488,274<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 501,124<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total liabilities and equity<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2,139,684<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2,126,404<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n Saul Centers, Inc. <\/b>
\n <\/span>\n <\/p>\n

\n
\n Consolidated Statements of Operations<\/b>
\n <\/span>\n <\/p>\n

\n
\n
\n (Unaudited)<\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n
\n Three Months Ended <\/b>
\n <\/span>\n <\/p>\n

\n
\n June 30,<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Six Months Ended <\/b>
\n <\/span>\n <\/p>\n

\n
\n June 30,<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n (In thousands, except per share amounts)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Revenues<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Rental revenue<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 69,426<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 63,695<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 139,973<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 128,994<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,408<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,248<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,717<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4,641<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total revenue<\/span>\n <\/p>\n<\/td>\n

\n

\n 70,834<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 66,943<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 142,690<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 133,635<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Expenses<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Property operating expenses<\/span>\n <\/p>\n<\/td>\n

\n

\n 11,424<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 9,656<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 25,166<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 20,201<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Real estate taxes<\/span>\n <\/p>\n<\/td>\n

\n

\n 8,016<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7,608<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 16,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 15,232<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Interest expense, net and amortization of deferred debt costs<\/span>\n <\/p>\n<\/td>\n

\n

\n 16,820<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 12,267<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 33,567<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 24,715<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Depreciation and amortization of deferred leasing costs<\/span>\n <\/p>\n<\/td>\n

\n

\n 14,098<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 12,001<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 28,621<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 24,030<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n General and administrative<\/span>\n <\/p>\n<\/td>\n

\n

\n 6,415<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 6,102<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 12,427<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 11,885<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total expenses<\/span>\n <\/p>\n<\/td>\n

\n

\n 56,773<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 47,634<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 115,781<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 96,063<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Gain on disposition of property<\/span>\n <\/p>\n<\/td>\n

\n

\n 120<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 181<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 120<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 181<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Net income<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 14,181<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 19,490<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 27,029<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 37,753<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Noncontrolling interests<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Income attributable to noncontrolling interests<\/span>\n <\/p>\n<\/td>\n

\n

\n (3,461)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (5,042)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (6,510)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (9,675)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Net income attributable to Saul Centers, Inc.<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 10,720<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 14,448<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 20,519<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 28,078<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Preferred stock dividends<\/span>\n <\/p>\n<\/td>\n

\n

\n (2,799)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (2,799)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (5,597)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (5,597)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Net income available to common stockholders<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 7,921<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 11,649<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 14,922<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 22,481<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Per share net income available to common stockholders<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Basic and diluted<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.33<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.48<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.62<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.93<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n Reconciliation of net income to FFO available to common stockholders and noncontrolling interests (1)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Three Months Ended <\/span>\n <\/p>\n

\n June 30,<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Six Months Ended <\/span>\n <\/p>\n

\n June 30,<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n (In thousands, except per share amounts)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2024<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2024<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net income<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 14,181<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 19,490<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 27,029<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 37,753<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Subtract:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Gain on disposition of property<\/span>\n <\/p>\n<\/td>\n

\n

\n (120)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (181)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (120)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (181)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Add:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Real estate depreciation and amortization<\/span>\n <\/p>\n<\/td>\n

\n

\n 14,098<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 12,001<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 28,621<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 24,030<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n FFO<\/span>\n <\/p>\n<\/td>\n

\n

\n 28,159<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 31,310<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 55,530<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 61,602<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Subtract:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Preferred stock dividends<\/span>\n <\/p>\n<\/td>\n

\n

\n (2,799)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (2,799)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (5,597)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (5,597)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n FFO available to common stockholders and noncontrolling interests<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 25,360<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 28,511<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 49,933<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 56,005<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Weighted average shares and units:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Basic<\/span>\n <\/p>\n<\/td>\n

\n

\n 34,845<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 34,498<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 34,765<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 34,423<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Diluted<\/span>\n <\/p>\n<\/td>\n

\n

\n 34,866<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 34,502<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 34,786<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 34,427<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Basic and diluted FFO per share available to common stockholders and noncontrolling interests<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.73<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.83<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.44<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.63<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n\n\n\n
\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n (1)<\/span>\n <\/p>\n<\/td>\n

\n

\n The National Association of Real Estate Investment Trusts (“Nareit”) developed FFO as a relative non-GAAP financial measure of performance of an equity REIT in order to recognize that income-producing real estate historically has not depreciated on the basis determined under GAAP. FFO is defined by NAREIT as net income, computed in accordance with GAAP, plus real estate depreciation and amortization, and excluding impairment charges on real estate assets and gains or losses from real estate dispositions. FFO does not represent cash generated from operating activities in accordance with GAAP and is not necessarily indicative of cash available to fund cash needs, which is disclosed in the Company’s Consolidated Statements of Cash Flows for the applicable periods. There are no material legal or functional restrictions on the use of FFO. FFO should not be considered as an alternative to net income, its most directly comparable GAAP measure, as an indicator of the Company’s operating performance, or as an alternative to cash flows as a measure of liquidity. Management considers FFO a meaningful supplemental measure of operating performance because it primarily excludes the assumption that the value of the real estate assets diminishes predictably over time (i.e. depreciation), which is contrary to what the Company believes occurs with its assets, and because industry analysts have accepted it as a performance measure. FFO may not be comparable to similarly titled measures employed by other REITs.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n Reconciliation of revenue to same property revenue (2)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Three Months Ended <\/span>\n <\/p>\n

\n June 30,<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Six Months Ended <\/span>\n <\/p>\n

\n June 30,<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n (In thousands)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2024<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2024<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Total revenue<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 70,834<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 66,943<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 142,690<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 133,635<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Revenue adjustments (1)<\/span>\n <\/p>\n<\/td>\n

\n

\n (2,739)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 537<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (5,095)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 279<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Acquisitions, dispositions and development properties<\/span>\n <\/p>\n<\/td>\n

\n

\n (2,097)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (3,397)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total same property revenue<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 65,998<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 67,480<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 134,198<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 133,914<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Shopping Centers<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 45,578<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 47,372<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 93,576<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 94,127<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Mixed-Use properties<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 20,420<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 20,108<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 40,622<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 39,787<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total same property revenue<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 65,998<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 67,480<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 134,198<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 133,914<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Total Shopping Center revenue<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 45,578<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 47,372<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 93,576<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 94,127<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Shopping Center acquisitions, dispositions and development properties<\/span>\n <\/p>\n<\/td>\n

\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total Shopping Center same property revenue<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 45,578<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 47,372<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 93,576<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 94,127<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Total Mixed-Use property revenue<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 22,517<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 20,108<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 44,019<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 39,787<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Mixed-Use acquisitions, dispositions and development properties<\/span>\n <\/p>\n<\/td>\n

\n

\n (2,097)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (3,397)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total Mixed-Use same property revenue<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 20,420<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 20,108<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 40,622<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 39,787<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n\n\n\n\n
\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n (1)<\/span>\n <\/p>\n<\/td>\n

\n

\n Revenue adjustments are straight-line base rent and above\/below market lease amortization.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (2)<\/span>\n <\/p>\n<\/td>\n

\n

\n Same property revenue is a non-GAAP financial measure of performance that management believes improves the comparability of reporting periods by excluding the results of properties that were not in operation for the entirety of the comparable reporting periods.\u00a0 Same property revenue adjusts property revenue by subtracting the revenue of properties not in operation for the entirety of the comparable reporting periods.\u00a0 Same property revenue is a measure of the operating performance of the Company’s properties but does not measure the Company’s performance as a whole.\u00a0 Same property revenue should not be considered as an alternative to total revenue, its most directly comparable GAAP measure, as an indicator of the Company’s operating performance.\u00a0 Management considers same property revenue a meaningful supplemental measure of operating performance because it is not affected by the cost of the Company’s funding, the impact of depreciation and amortization expenses, gains or losses from the acquisition and sale of operating real estate assets, general and administrative expenses or other gains and losses that relate to ownership of the Company’s properties.\u00a0 Management believes the exclusion of these items from same property revenue is useful because the resulting measure captures the actual revenue generated by operating the Company’s properties.\u00a0 Other REITs may use different methodologies for calculating same property revenue.\u00a0 Accordingly, the Company’s same property revenue may not be comparable to those of other REITs.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

Mixed-Use same property revenue is composed of the following:<\/p>\n

\n\n\n\n\n\n\n\n
\n \n <\/td>\n\n

\n Three Months Ended <\/span>\n <\/p>\n

\n June 30,<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Six Months Ended <\/span>\n <\/p>\n

\n June 30,<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n (In thousands)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2024<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2024<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Office mixed-use properties (1)<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 9,797<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 10,053<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 19,578<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 19,833<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Residential mixed-use properties (residential activity) (2)<\/span>\n <\/p>\n<\/td>\n

\n

\n 9,459<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 8,952<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 18,755<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 17,726<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Residential mixed-use properties (retail activity) (3)<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,164<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,103<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,289<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,228<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total Mixed-Use same property revenue<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 20,420<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 20,108<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 40,622<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 39,787<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n\n\n\n\n\n
\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n (1)<\/span>\n <\/p>\n<\/td>\n

\n

\n Includes Avenel Business Park, Clarendon Center \u2013 North and South Blocks, 601\u00a0Pennsylvania Avenue and Washington Square<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (2)<\/span>\n <\/p>\n<\/td>\n

\n

\n Includes Clarendon South Block, The Waycroft and Park Van Ness<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (3)<\/span>\n <\/p>\n<\/td>\n

\n

\n Includes The Waycroft and Park Van Ness<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n Reconciliation of net income to same property net operating income (2)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Three Months Ended <\/span>\n <\/p>\n

\n June 30,<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Six Months Ended <\/span>\n <\/p>\n

\n June 30,<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n (In thousands)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2024<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2024<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net income<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 14,181<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 19,490<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 27,029<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 37,753<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Interest expense, net and amortization of deferred debt costs<\/span>\n <\/p>\n<\/td>\n

\n

\n 16,820<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 12,267<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 33,567<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 24,715<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Depreciation and amortization of deferred leasing costs<\/span>\n <\/p>\n<\/td>\n

\n

\n 14,098<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 12,001<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 28,621<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 24,030<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n General and administrative<\/span>\n <\/p>\n<\/td>\n

\n

\n 6,415<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 6,102<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 12,427<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 11,885<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Gain on disposition of property<\/span>\n <\/p>\n<\/td>\n

\n

\n (120)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (181)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (120)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (181)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Revenue adjustments (1)<\/span>\n <\/p>\n<\/td>\n

\n

\n (2,739)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 537<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (5,095)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 279<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total property net operating income<\/span>\n <\/p>\n<\/td>\n

\n

\n 48,655<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 50,216<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 96,429<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 98,481<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Acquisitions, dispositions, and development properties<\/span>\n <\/p>\n<\/td>\n

\n

\n (592)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (345)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total same property net operating income<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 48,063<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 50,216<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 96,084<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 98,481<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Shopping Centers<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 35,296<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 37,419<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 70,569<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 73,211<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Mixed-Use properties<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 12,767<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 12,797<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 25,515<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 25,270<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total same property net operating income<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 48,063<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 50,216<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 96,084<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 98,481<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Shopping Center property net operating income<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 35,296<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 37,419<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 70,569<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 73,211<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Shopping Center acquisitions, dispositions and development properties<\/span>\n <\/p>\n<\/td>\n

\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total Shopping Center same property net operating income<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 35,296<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 37,419<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 70,569<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 73,211<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Mixed-Use property net operating income<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 13,359<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 12,797<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 25,860<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 25,270<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Mixed-Use acquisitions, dispositions and development properties<\/span>\n <\/p>\n<\/td>\n

\n

\n (592)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (345)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total Mixed-Use same property net operating income<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 12,767<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 12,797<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 25,515<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 25,270<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n\n\n\n\n
\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n (1)<\/span>\n <\/p>\n<\/td>\n

\n

\n Revenue adjustments are straight-line base rent and above\/below market lease amortization.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (2)<\/span>\n <\/p>\n<\/td>\n

\n

\n Same property net operating income is a non-GAAP financial measure of performance that management believes improves the comparability of reporting periods by excluding the results of properties that were not in operation for the entirety of the comparable reporting periods.\u00a0 Same property net operating income adjusts property net operating income by subtracting the results of properties that were not in operation for the entirety of the comparable periods.\u00a0 Same property net operating income is a measure of the operating performance of the Company’s properties but does not measure the Company’s performance as a whole.\u00a0 Same property net operating income should not be considered as an alternative to property net operating income, its most directly comparable GAAP measure, as an indicator of the Company’s operating performance.\u00a0 Management considers same property net operating income a meaningful supplemental measure of operating performance because it is not affected by the cost of the Company’s funding, the impact of depreciation and amortization expenses, gains or losses from the acquisition and sale of operating real estate assets, general and administrative expenses or other gains and losses that relate to ownership of the Company’s properties.\u00a0 Management believes the exclusion of these items from property net operating income is useful because the resulting measure captures the actual revenue generated and actual expenses incurred by operating the Company’s properties.\u00a0 Other REITs may use different methodologies for calculating same property net operating income.\u00a0 Accordingly, same property net operating income may not be comparable to those of other REITs.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

Mixed-Use same property net operating income is composed of the following:<\/p>\n

\n\n\n\n\n\n\n\n
\n \n <\/td>\n\n

\n Three Months Ended <\/span>\n <\/p>\n

\n June 30,<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Six Months Ended <\/span>\n <\/p>\n

\n June 30,<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n (In thousands)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2024<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2024<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Office mixed-use properties (1)<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6,208<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6,567<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 12,326<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 12,816<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Residential mixed-use properties (residential activity) (2)<\/span>\n <\/p>\n<\/td>\n

\n

\n 5,762<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,435<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 11,587<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 10,842<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Residential mixed-use properties (retail activity) (3)<\/span>\n <\/p>\n<\/td>\n

\n

\n 797<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 795<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,602<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,612<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total Mixed-Use same property net operating income<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 12,767<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 12,797<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 25,515<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 25,270<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n\n\n\n\n\n
\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n (1)<\/span>\n <\/p>\n<\/td>\n

\n

\n Includes Avenel Business Park, Clarendon Center \u2013 North and South Blocks, 601\u00a0Pennsylvania Avenue and Washington Square<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (2)<\/span>\n <\/p>\n<\/td>\n

\n

\n Includes Clarendon South Block, The Waycroft and Park Van Ness<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (3)<\/span>\n <\/p>\n<\/td>\n

\n

\n Includes The Waycroft and Park Van Ness<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n \"Cision\" View original content:https:\/\/www.prnewswire.com\/news-releases\/saul-centers-inc-reports-second-quarter-2025-earnings-302524799.html<\/a><\/p>\n

SOURCE Saul Centers<\/span>, Inc.<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire BETHESDA, Md. , Aug. 7, 2025 \/PRNewswire\/ — Saul Centers, Inc. (NYSE: BFS), an equity real estate investment trust (“REIT”), announced operating results for the quarter ended June\u00a030, 2025 (“2025 Quarter”).\u00a0 Total revenue for the 2025 Quarter increased to $70.8 million from $66.9\u00a0million for the quarter ended June\u00a030, 2024 (“2024 Quarter”).\u00a0 Net income decreased to $14.2 million for the 2025 Quarter from $19.5\u00a0million for the 2024 Quarter. During the 2025 Quarter, the Company continued to lease residential units and work on retail spaces at Twinbrook Quarter Phase I.\u00a0 On June 25, 2025, Wegmans commenced operations, and as of August\u00a04,\u00a02025, 389 of the 452 (86.1%) residential units were leased and occupied.\u00a0 Concurrent with the initial delivery of Twinbrook Quarter … <\/p>\n

Continue reading “Saul Centers, Inc. Reports Second Quarter 2025 Earnings”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-872969","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSaul Centers, Inc. Reports Second Quarter 2025 Earnings - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/saul-centers-inc-reports-second-quarter-2025-earnings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Saul Centers, Inc. Reports Second Quarter 2025 Earnings - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire BETHESDA, Md. , Aug. 7, 2025 \/PRNewswire\/ — Saul Centers, Inc. (NYSE: BFS), an equity real estate investment trust (“REIT”), announced operating results for the quarter ended June\u00a030, 2025 (“2025 Quarter”).\u00a0 Total revenue for the 2025 Quarter increased to $70.8 million from $66.9\u00a0million for the quarter ended June\u00a030, 2024 (“2024 Quarter”).\u00a0 Net income decreased to $14.2 million for the 2025 Quarter from $19.5\u00a0million for the 2024 Quarter. During the 2025 Quarter, the Company continued to lease residential units and work on retail spaces at Twinbrook Quarter Phase I.\u00a0 On June 25, 2025, Wegmans commenced operations, and as of August\u00a04,\u00a02025, 389 of the 452 (86.1%) residential units were leased and occupied.\u00a0 Concurrent with the initial delivery of Twinbrook Quarter … Continue reading "Saul Centers, Inc. Reports Second Quarter 2025 Earnings"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/saul-centers-inc-reports-second-quarter-2025-earnings\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-08-07T23:22:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=PH46660&sd=2025-08-07\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"15 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/saul-centers-inc-reports-second-quarter-2025-earnings\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/saul-centers-inc-reports-second-quarter-2025-earnings\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Saul Centers, Inc. Reports Second Quarter 2025 Earnings\",\"datePublished\":\"2025-08-07T23:22:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/saul-centers-inc-reports-second-quarter-2025-earnings\\\/\"},\"wordCount\":2977,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/saul-centers-inc-reports-second-quarter-2025-earnings\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=PH46660&sd=2025-08-07\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/saul-centers-inc-reports-second-quarter-2025-earnings\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/saul-centers-inc-reports-second-quarter-2025-earnings\\\/\",\"name\":\"Saul Centers, Inc. Reports Second Quarter 2025 Earnings - Market Newsdesk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/saul-centers-inc-reports-second-quarter-2025-earnings\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/saul-centers-inc-reports-second-quarter-2025-earnings\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=PH46660&sd=2025-08-07\",\"datePublished\":\"2025-08-07T23:22:03+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/saul-centers-inc-reports-second-quarter-2025-earnings\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/saul-centers-inc-reports-second-quarter-2025-earnings\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/saul-centers-inc-reports-second-quarter-2025-earnings\\\/#primaryimage\",\"url\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=PH46660&sd=2025-08-07\",\"contentUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=PH46660&sd=2025-08-07\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/saul-centers-inc-reports-second-quarter-2025-earnings\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Saul Centers, Inc. Reports Second Quarter 2025 Earnings\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\",\"name\":\"Market Newsdesk\",\"description\":\"Latest Business News in Real Time\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\",\"name\":\"Newsdesk\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"caption\":\"Newsdesk\"},\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/author\\\/newsdesk\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Saul Centers, Inc. Reports Second Quarter 2025 Earnings - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/saul-centers-inc-reports-second-quarter-2025-earnings\/","og_locale":"en_US","og_type":"article","og_title":"Saul Centers, Inc. Reports Second Quarter 2025 Earnings - Market Newsdesk","og_description":"PR Newswire BETHESDA, Md. , Aug. 7, 2025 \/PRNewswire\/ — Saul Centers, Inc. (NYSE: BFS), an equity real estate investment trust (“REIT”), announced operating results for the quarter ended June\u00a030, 2025 (“2025 Quarter”).\u00a0 Total revenue for the 2025 Quarter increased to $70.8 million from $66.9\u00a0million for the quarter ended June\u00a030, 2024 (“2024 Quarter”).\u00a0 Net income decreased to $14.2 million for the 2025 Quarter from $19.5\u00a0million for the 2024 Quarter. During the 2025 Quarter, the Company continued to lease residential units and work on retail spaces at Twinbrook Quarter Phase I.\u00a0 On June 25, 2025, Wegmans commenced operations, and as of August\u00a04,\u00a02025, 389 of the 452 (86.1%) residential units were leased and occupied.\u00a0 Concurrent with the initial delivery of Twinbrook Quarter … Continue reading \"Saul Centers, Inc. Reports Second Quarter 2025 Earnings\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/saul-centers-inc-reports-second-quarter-2025-earnings\/","og_site_name":"Market Newsdesk","article_published_time":"2025-08-07T23:22:03+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=PH46660&sd=2025-08-07","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"15 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/saul-centers-inc-reports-second-quarter-2025-earnings\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/saul-centers-inc-reports-second-quarter-2025-earnings\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Saul Centers, Inc. Reports Second Quarter 2025 Earnings","datePublished":"2025-08-07T23:22:03+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/saul-centers-inc-reports-second-quarter-2025-earnings\/"},"wordCount":2977,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/saul-centers-inc-reports-second-quarter-2025-earnings\/#primaryimage"},"thumbnailUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=PH46660&sd=2025-08-07","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/saul-centers-inc-reports-second-quarter-2025-earnings\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/saul-centers-inc-reports-second-quarter-2025-earnings\/","name":"Saul Centers, Inc. Reports Second Quarter 2025 Earnings - Market Newsdesk","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/saul-centers-inc-reports-second-quarter-2025-earnings\/#primaryimage"},"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/saul-centers-inc-reports-second-quarter-2025-earnings\/#primaryimage"},"thumbnailUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=PH46660&sd=2025-08-07","datePublished":"2025-08-07T23:22:03+00:00","author":{"@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"breadcrumb":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/saul-centers-inc-reports-second-quarter-2025-earnings\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.marketnewsdesk.com\/index.php\/saul-centers-inc-reports-second-quarter-2025-earnings\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/saul-centers-inc-reports-second-quarter-2025-earnings\/#primaryimage","url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=PH46660&sd=2025-08-07","contentUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=PH46660&sd=2025-08-07"},{"@type":"BreadcrumbList","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/saul-centers-inc-reports-second-quarter-2025-earnings\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.marketnewsdesk.com\/"},{"@type":"ListItem","position":2,"name":"Saul Centers, Inc. Reports Second Quarter 2025 Earnings"}]},{"@type":"WebSite","@id":"https:\/\/www.marketnewsdesk.com\/#website","url":"https:\/\/www.marketnewsdesk.com\/","name":"Market Newsdesk","description":"Latest Business News in Real Time","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.marketnewsdesk.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979","name":"Newsdesk","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","caption":"Newsdesk"},"url":"https:\/\/www.marketnewsdesk.com\/index.php\/author\/newsdesk\/"}]}},"_links":{"self":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/872969","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/comments?post=872969"}],"version-history":[{"count":0,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/872969\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/media?parent=872969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/categories?post=872969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/tags?post=872969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}