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Consolidated Statement of Equity (Unaudited) - USD ($)
$ in Thousands
Total
Limited Partner
Series D Cumulative Redeemable, 30,000 shares issued and outstanding
Series E Cumulative Redeemable, 44,000 shares issued and outstanding
Total Saul Centers, Inc.
Total Saul Centers, Inc.
Series D Cumulative Redeemable, 30,000 shares issued and outstanding
Total Saul Centers, Inc.
Series E Cumulative Redeemable, 44,000 shares issued and outstanding
Preferred Stock
Common Stock
Additional Paid-in Capital
Partnership Units in Escrow
Distributions in Excess of Accumulated Earnings
Distributions in Excess of Accumulated Earnings
Series D Cumulative Redeemable, 30,000 shares issued and outstanding
Distributions in Excess of Accumulated Earnings
Series E Cumulative Redeemable, 44,000 shares issued and outstanding
Accumulated Other Comprehensive Income
Noncontrolling Interests
Noncontrolling Interests
Limited Partner
Beginning Balance at Dec. 31, 2022 $ 521,802       $ 400,484     $ 185,000 $ 240 $ 446,301 $ 39,650 $ (273,559)     $ 2,852 $ 121,318  
Issuance of shares of common stock:                                  
Issuance of shares pursuant to dividend reinvestment plan 543       543         543              
Shares due to share grants, exercise of stock options and issuance of directors’ deferred stock 290       290         290              
Net income 17,663       13,502             13,502       4,161  
Change in unrealized gain on cash flow hedge (2,014)       (1,450)                   (1,450) (564)  
Distributions payable preferred stock:                                  
Preferred stock distributions     $ (1,148) $ (1,650)   $ (1,148) $ (1,650)           $ (1,148) $ (1,650)      
Distributions payable, common stock and partnership units (19,651)       (14,165)             (14,165)       (5,486)  
Ending Balance at Mar. 31, 2023 515,835       396,406     185,000 240 447,134 39,650 (277,020)     1,402 119,429  
Beginning Balance at Dec. 31, 2022 521,802       400,484     185,000 240 446,301 39,650 (273,559)     2,852 121,318  
Issuance of shares of common stock:                                  
Net income 51,563                                
Change in unrealized gain on cash flow hedge 2,598                                
Ending Balance at Sep. 30, 2023 511,333       393,667     185,000 241 449,076 39,650 (285,024)     4,724 117,666  
Beginning Balance at Mar. 31, 2023 515,835       396,406     185,000 240 447,134 39,650 (277,020)     1,402 119,429  
Issuance of shares of common stock:                                  
Issuance of shares pursuant to dividend reinvestment plan 544       544         544              
Shares due to share grants, exercise of stock options and issuance of directors’ deferred stock 553       553         553              
Net income 17,189       13,162             13,162       4,027  
Change in unrealized gain on cash flow hedge 2,401       1,729                   1,729 672  
Distributions payable preferred stock:                                  
Preferred stock distributions     (1,149) (1,650)   (1,149) (1,650)           (1,149) (1,650)      
Distributions payable, common stock and partnership units (19,679)       (14,193)             (14,193)       (5,486)  
Ending Balance at Jun. 30, 2023 514,044       395,402     185,000 240 448,231 39,650 (280,850)     3,131 118,642  
Issuance of shares of common stock:                                  
Issuance of shares pursuant to dividend reinvestment plan 555       555       1 554              
Shares due to share grants, exercise of stock options and issuance of directors’ deferred stock 291       291         291              
Net income 16,711       12,819             12,819       3,892  
Change in unrealized gain on cash flow hedge 2,211       1,593                   1,593 618  
Distributions payable preferred stock:                                  
Preferred stock distributions     (1,148) (1,650)   (1,148) (1,650)           (1,148) (1,650)      
Distributions payable, common stock and partnership units (19,681)       (14,195)             (14,195)       (5,486)  
Ending Balance at Sep. 30, 2023 511,333       393,667     185,000 241 449,076 39,650 (285,024)     4,724 117,666  
Beginning Balance at Dec. 31, 2023 504,429       348,389     185,000 241 449,959 0 (288,825)     2,014 156,040  
Issuance of shares of common stock:                                  
Issuance of shares pursuant to dividend reinvestment plan 603 $ 11,741     603         603             $ 11,741
Shares due to share grants, exercise of stock options and issuance of directors’ deferred stock 219       219         219              
Net income 18,263       13,630             13,630       4,633  
Change in unrealized gain on cash flow hedge 1,804       1,264                   1,264 540  
Distributions payable preferred stock:                                  
Preferred stock distributions     (1,148) (1,650)   (1,148) (1,650)           (1,148) (1,650)      
Distributions payable, common stock and partnership units (20,330)       (14,220)             (14,220)       (6,110)  
Ending Balance at Mar. 31, 2024 513,931       347,087     185,000 241 450,781 0 (292,213)     3,278 166,844  
Beginning Balance at Dec. 31, 2023 504,429       348,389     185,000 241 449,959 0 (288,825)     2,014 156,040  
Issuance of shares of common stock:                                  
Net income 57,345                                
Change in unrealized gain on cash flow hedge (1,430)                                
Ending Balance at Sep. 30, 2024 508,684       341,846     185,000 241 453,074 0 (297,498)     1,029 166,838  
Beginning Balance at Mar. 31, 2024 513,931       347,087     185,000 241 450,781 0 (292,213)     3,278 166,844  
Issuance of shares of common stock:                                  
Issuance of shares pursuant to dividend reinvestment plan 559 1,534     559         559             1,534
Shares due to share grants, exercise of stock options and issuance of directors’ deferred stock 505       505         505              
Net income 19,490       14,448             14,448       5,042  
Change in unrealized gain on cash flow hedge 224       156                   156 68  
Distributions payable preferred stock:                                  
Preferred stock distributions     (1,149) (1,650)   (1,149) (1,650)           (1,149) (1,650)      
Distributions payable, common stock and partnership units (20,424)       (14,288)             (14,288)       (6,136)  
Ending Balance at Jun. 30, 2024 513,020       345,668     185,000 241 451,845 0 (294,852)     3,434 167,352  
Issuance of shares of common stock:                                  
Issuance of shares pursuant to dividend reinvestment plan 623 $ 1,587     623         623             $ 1,587
Shares due to share grants, exercise of stock options and issuance of directors’ deferred stock 606       606         606              
Net income 19,592       14,481             14,481       5,111  
Change in unrealized gain on cash flow hedge (3,457)       (2,405)                   (2,405) (1,052)  
Distributions payable preferred stock:                                  
Preferred stock distributions     $ (1,148) $ (1,650)   $ (1,148) $ (1,650)           $ (1,148) $ (1,650)      
Distributions payable, common stock and partnership units (20,489)       (14,329)             (14,329)       (6,160)  
Ending Balance at Sep. 30, 2024 $ 508,684       $ 341,846     $ 185,000 $ 241 $ 453,074 $ 0 $ (297,498)     $ 1,029 $ 166,838