Overview

* Saul Centers ( BFS ) Q3 revenue rises to $72.0 mln from $67.3 mln yr/yr

* Net income for Q3 falls to $14.0 mln from $19.6 mln yr/yr

* FFO for Q3 declines due to higher operating expenses and lower lease termination fees

Outlook

* Company did not provide specific guidance

Result Drivers

* TWINBROOK IMPACT - Initial operations of Twinbrook Quarter Phase I reduced net income by $4.7 mln due to increased expenses and reduced capitalized interest

* HIGHER EXPENSES - Increased general and administrative costs and higher credit losses contributed to decreased net income

* BASE RENT INCREASE - Higher commercial and residential base rents partially offset other financial declines

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $70.68

Rental mln

Revenue

Q3 Net $14 mln

Income

Q3 $12.02

Property mln

Operatin

g

Expenses

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 ( BFS ) is $45.50, about 34.6% above its November 5 closing price of $29.77

* The stock recently traded at 34 times the next 12-month earnings vs. a P/E of 30 three months ago

Press Release:

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(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.)