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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, 2021 $ 530,487       $ 405,049     $ 185,000 $ 238 $ 436,609 $ 39,650 $ (256,448)     $ 0 $ 125,438  
Issuance of shares of common stock:                                  
Issuance of shares pursuant to dividend reinvestment plan 2,949 $ 653     2,949       1 2,948             $ 653
Shares due to share grants, exercise of stock options and issuance of directors’ deferred stock 594       594         594              
Net income 17,491       13,365             13,365       4,126  
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 (18,917)       (13,625)             (13,625)       (5,292)  
Ending Balance at Mar. 31, 2022 530,459       405,534     185,000 239 440,151 39,650 (259,506)     0 124,925  
Beginning Balance at Dec. 31, 2021 530,487       405,049     185,000 238 436,609 39,650 (256,448)     0 125,438  
Issuance of shares of common stock:                                  
Net income 50,001                                
Ending Balance at Sep. 30, 2022 528,317       404,958     185,000 240 445,456 39,650 (268,451)     3,063 123,359  
Beginning Balance at Mar. 31, 2022 530,459       405,534     185,000 239 440,151 39,650 (259,506)     0 124,925  
Issuance of shares of common stock:                                  
Issuance of shares pursuant to dividend reinvestment plan 2,949 $ 669     2,949       1 2,948             $ 669
Shares due to share grants, exercise of stock options and issuance of directors’ deferred stock 1,397       1,397         1,397              
Net income 16,997       13,016             13,016       3,981  
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 (19,642)       (14,156)             (14,156)       (5,486)  
Ending Balance at Jun. 30, 2022 530,031       405,942     185,000 240 444,496 39,650 (263,444)     0 124,089  
Issuance of shares of common stock:                                  
Issuance of shares pursuant to dividend reinvestment plan 537       537         537              
Shares due to share grants, exercise of stock options and issuance of directors’ deferred stock 423       423         423              
Net income 15,513       11,950             11,950       3,563  
Change in unrealized gain/loss on cash flow hedge 4,256       3,063                   3,063 1,193  
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 (19,645)       (14,159)             (14,159)       (5,486)  
Ending Balance at Sep. 30, 2022 528,317       404,958     185,000 240 445,456 39,650 (268,451)     3,063 123,359  
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/loss 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                                
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       0 544              
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/loss 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       0 291              
Net income 16,711       12,819             12,819       3,892  
Change in unrealized gain/loss 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