Saul Centers Inc. / BFS

About Saul Centers Inc.

7501 Wisconsin Ave., Suite 1500, Bethesda, Mont. 20814
www.saulcenters.com | 301-986-6200 | Founded: 1993

Industry: Real Estate | Category: Public Companies

Saul Centers developed two new neighborhood shopping centers last year, the Lansdowne Town Center and Broadlands Village III. It was the fewest acquisitions for the company in the past three years, according to filings with the Securities and Exchange Commission. The company bought three properties in 2005 and four in 2004. As of Dec. 31, the Lansdowne Town Center, which is 188,000 square feet, was 85 percent leased. Broadlands Village III was 100 percent leased. Both are in Loudoun County.
Saul Centers also bought two shopping centers anchored by grocery stores — Hunt Club Corners in Apopka, Fla., and Smallwood Village Center in Waldorf, Md., together totaling 299,000 square feet.
Overall, the leasing in the company's operating portfolio dropped slightly, to 96.3 percent from 97.1 percent in 2005. Saul Centers said the decline was caused by two grocery anchors totaling 59,000 square feet dropping from its Belvedere and West Park shopping centers. However, total revenue jumped nearly 9 percent, to $138 million, helped by a nearly $11 million increase in base rents.

Chairman and CEO: B. Francis Saul II

2006 Financial Data

Revenues: $137,978,000 | Net Income: $32,680,000
Asssets: $700,537,000 | Earnings Per Share: $1.43
Stockholder Equity: $132,091,000 | Annual Dividend: $1.68
Total employees: 68 | Local employees: 66