Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenue
Base rent	$ 42,431	$ 41,452	$ 125,786	$ 123,053
Expense recoveries	8,181	7,734	24,710	24,348
Percentage rent	157	187	1,153	1,092
Other	1,607	1,222	4,526	7,335
Total revenue	52,376	50,595	156,175	155,828
Operating expenses
Property operating expenses	6,308	6,316	20,120	20,039
Provision for credit losses	621	170	1,281	480
Real estate taxes	5,933	5,594	17,710	16,631
Interest expense and amortization of deferred debt costs	11,229	11,584	33,988	34,537
Depreciation and amortization of deferred leasing costs	11,131	10,256	32,382	30,745
General and administrative	3,802	3,837	11,712	12,540
Acquisition related costs	57	359	78	738
Predevelopment expenses	57	0	57	503
Total operating expenses	39,138	38,116	117,328	116,213
Operating income	13,238	12,479	38,847	39,615
Change in fair value of derivatives	(6)	1	(12)	(6)
Gain on sale of property	0	0	11	6,069
Net Income	13,232	12,480	38,846	45,678
Noncontrolling interests
Income attributable to noncontrolling interests	(2,617)	(2,374)	(7,628)	(9,231)
Net income attributable to Saul Centers, Inc.	10,615	10,106	31,218	36,447
Preferred stock dividends	(3,093)	(3,206)	(9,281)	(9,619)
Net income attributable to common stockholders	$ 7,522	$ 6,900	$ 21,937	$ 26,828
Per share net income attributable to common stockholders
Basic and diluted (in usd per share)	$ 0.36	$ 0.33	$ 1.04	$ 1.29
Dividends declared per common share outstanding (in usd per share)	$ 0.43	$ 0.40	$ 1.29	$ 1.20