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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenue        
Base rent $ 43,151 $ 42,431 $ 128,338 $ 125,786
Expense recoveries 8,561 8,181 26,011 24,710
Percentage rent 57 157 1,016 1,153
Other 1,464 1,607 7,504 4,526
Total revenue 53,233 52,376 162,869 156,175
Operating expenses        
Property operating expenses 6,685 6,308 20,740 20,120
Provision for credit losses 391 621 1,207 1,281
Real estate taxes 6,195 5,933 18,266 17,710
Interest expense and amortization of deferred debt costs 11,524 11,229 34,268 33,988
Depreciation and amortization of deferred leasing costs 11,626 11,131 33,478 32,382
General and administrative 4,033 3,802 12,500 11,712
Acquisition related costs 57 57 57 78
Predevelopment expenses 0 57 0 57
Total operating expenses 40,511 39,138 120,516 117,328
Operating income 12,722 13,238 42,353 38,847
Change in fair value of derivatives 1 (6) (9) (12)
Gain on sale of property 0 0 0 11
Net income (loss) 12,723 13,232 42,344 38,846
Noncontrolling interests        
Income attributable to noncontrolling interests (2,484) (2,617) (8,530) (7,628)
Net income attributable to Saul Centers, Inc. 10,239 10,615 33,814 31,218
Preferred stock dividends (3,093) (3,093) (9,281) (9,281)
Net income attributable to common stockholders $ 7,146 $ 7,522 $ 24,533 $ 21,937
Per share net income attributable to common stockholders        
Basic and diluted (in usd per share) $ 0.33 $ 0.36 $ 1.14 $ 1.04
Dividends declared per common share outstanding (in usd per share) $ 0.47 $ 0.43 $ 1.41 $ 1.29