SAUL CENTERS INC
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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FY2023 · Filed Feb 29, 2024
BFS$28.80-0.0%Stored close · as of Nov 10, 2026
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(b) Consolidated Balance Sheets - December 31, 2023 and 2022
CONSOLIDATED BALANCE SHEETS
| December 31, | ||
|---|---|---|
| (Dollars in thousands, except per share amounts) | 2023 | 2022 |
| Assets | ||
| Real estate investments | ||
| Land | $511,529 | $511,529 |
| Buildings and equipment | 1,595,023 | 1,574,381 |
| Construction in progress | 514,553 | 322,226 |
| 2,621,105 | 2,408,136 | |
| Accumulated depreciation | (729,470) | (688,475) |
| Total real estate investments, net | 1,891,635 | 1,719,661 |
| Cash and cash equivalents | 8,407 | 13,279 |
| Accounts receivable and accrued income, net | 56,032 | 56,323 |
| Deferred leasing costs, net | 23,728 | 22,388 |
| Other assets | 14,335 | 21,651 |
| Total assets | $1,994,137 | $1,833,302 |
| Liabilities | ||
| Mortgage notes payable, net | $935,451 | $961,577 |
| Revolving credit facility payable, net | 274,715 | 161,941 |
| Term loan facility payable, net | 99,530 | 99,382 |
| Construction loans payable, net | 77,305 | — |
| Accounts payable, accrued expenses and other liabilities | 57,022 | 42,978 |
| Deferred income | 22,748 | 23,169 |
| Dividends and distributions payable | 22,937 | 22,453 |
| Total liabilities | 1,489,708 | 1,311,500 |
| Equity | ||
| Preferred stock, 1,000,000 shares authorized: | ||
| Series D Cumulative Redeemable, 30,000 shares issued and outstanding | 75,000 | 75,000 |
| Series E Cumulative Redeemable, 44,000 shares issued and outstanding | 110,000 | 110,000 |
| Common stock, $0.01 par value, 40,000,000 shares authorized, 24,082,887 and 24,016,009 shares issued and outstanding, respectively | 241 | 240 |
| Additional paid-in capital | 449,959 | 446,301 |
| Partnership units in escrow | — | 39,650 |
| Distributions in excess of accumulated earnings | (288,825) | (273,559) |
| Accumulated other comprehensive income | 2,014 | 2,852 |
| Total Saul Centers, Inc. equity | 348,389 | 400,484 |
| Noncontrolling interests | 156,040 | 121,318 |
| Total equity | 504,429 | 521,802 |
| Total liabilities and equity | $1,994,137 | $1,833,302 |
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