Saul Centers Q2 net income falls on Hampden House startup costs

Saul Centers

06/08/2026 21:28

Overview
U.S. shopping center REIT's Q2 revenue rose yr/yr, while net income declined
Net income fell due to higher costs from Hampden House initial operations
FFO available to common stockholders and noncontrolling interests decreased yr/yr

Outlook
Company did not provide specific financial guidance or outlook for future periods

Result Drivers
HAMPDEN HOUSE COSTS - Net income and FFO were negatively affected by higher interest expense, real estate taxes, depreciation, and other costs from the initial operations of Hampden House
TWINBROOK QUARTER LEASE-UP - Same property revenue and net operating income increased, driven by the lease-up of Twinbrook Quarter Phase I
HIGHER BASE RENT - Excluding Hampden House, higher residential and commercial base rents contributed to increases in net income and FFO

Company press release: ID:nPn5S9znYa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Rental Revenue
 
$75.38 mln
 
Q2 Net Income
 
$11.55 mln
 
Q2 Property Operating Expenses
 
$13.55 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the commercial reits peer group is "buy"
Wall Street's median 12-month price target for Saul Centers Inc is $43.50, about 29.3% above its August 5 closing price of $33.63
The stock recently traded at 50 times the next 12-month earnings vs. a P/E of 53 three months ago

Reuters Recommended Reads
Aug 4 - Kimco Realty lifts annual profit forecast, beats quarterly revenue estimates on strong leasing demand
Aug 5 - Plaza Retail REIT Q2 FFO per unit rises on higher NOI
Aug 4 - DigitalBridge Q2 net income surges

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)