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Equity | 6 Months Ended
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Jun. 30, 2024
Equity [Abstract] |
Equity | Equity The consolidated statements of operations for the six months ended June 30, 2024 and 2023, reflect noncontrolling interests of $9.7 million and $8.2 million, respectively, representing income attributable to limited partnership units not held by Saul Centers. At June 30, 2024, the Company had outstanding 3.0 million depositary shares, each representing 1/100th of a share of 6.125% Series D Cumulative Redeemable Preferred Stock (the “Series D Stock”). The depositary shares are redeemable at the Company's option, in whole or in part, at the $25.00 liquidation preference, plus accrued but unpaid dividends up to, but not including, the redemption date. The depositary shares pay an annual dividend of $1.53125 per share, equivalent to 6.125% of the $25.00 liquidation preference. The Series D Stock has no stated maturity, is not subject to any sinking fund or mandatory redemption and is not convertible into any other securities of the Company except in connection with certain changes in control or delisting events. Investors in the depositary shares generally have no voting rights, but will have limited voting rights if the Company fails to pay dividends for six or more quarters (whether or not declared or consecutive) and in certain other events. At June 30, 2024, the Company had outstanding 4.4 million depositary shares, each representing 1/100th of a share of 6.000% Series E Cumulative Redeemable Preferred Stock (the “Series E Stock”). The depositary shares may be redeemed at the Company’s option, in whole or in part, on or after September 17, 2024, at the $25.00 liquidation preference, plus accrued but unpaid dividends up to, but not including, the redemption date. The depositary shares pay an annual dividend of $1.50 per share, equivalent to 6.000% of the $25.00 liquidation preference. The Series E Stock has no stated maturity, is not subject to any sinking fund or mandatory redemption and is not convertible into any other securities of the Company except in connection with certain changes in control or delisting events. Investors in the depositary shares generally have no voting rights, but will have limited voting rights if the Company fails to pay dividends for six or more quarters (whether or not declared or consecutive) and in certain other events. Per Share Data Per share data for net income (basic and diluted) is computed using weighted average shares of common stock. Convertible limited partnership units, unvested restricted share awards, and stock options are the Company’s potentially dilutive securities. For all periods presented, the convertible limited partnership units are non-dilutive. The following table sets forth, for the indicated periods, weighted averages of the number of common shares outstanding, basic and diluted, the effect of dilutive options and unvested restricted share awards, and the number of options which are not dilutive because the average price of the Company’s common stock was less than the exercise prices. The treasury stock method was used to measure the effect of the dilution.
| Average Shares/Awards/Options Outstanding
| As of or for the three months ended June 30, |  | As of or for the six months ended June 30,
(In thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Weighted average common stock outstanding-Basic | 24,112 |  |  | 24,043 |  |  | 24,103 |  |  | 24,034 |
Weighted average effect of dilutive options | 2 |  |  | 1 |  |  | 3 |  |  | 1 |
Weighted average effect of dilutive unvested restricted share awards | 2 |  |  | — |  |  | 1 |  |  | — |
Weighted average common stock outstanding-Diluted | 24,116 |  |  | 24,044 |  |  | 24,107 |  |  | 24,035 |
Non-dilutive options as of period end | 1,149 |  |  | 1,672 |  |  | 1,149 |  |  | 1,672 |
Years non-dilutive options were issued as of period end | 2015 through 2022 |  | 2014 through 2022 |  | 2015 through 2022 |  | 2014 through 2022

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