---
schema_version: "secwatch.filing_event.v1"
accession: "0000907254-25-000021"
form_type: "8-K"
ticker: "BFS"
cik: "0000907254"
company_name: "SAUL CENTERS, INC."
filed_at: "2025-02-28T23:59:59+00:00"
generated_at: "2026-05-26T00:50:34.381200+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Saul Centers Q4 2024 net income drops to $10.4M from $17.5M; EPS $0.22 vs $0.43 YoY

## Summary
- Total revenue $67.9M, up from $66.7M in Q4 2023.
- Net income available to common shareholders $5.3M ($0.22/shr) vs $10.4M ($0.43/shr).
- Same property revenue fell 0.8%; same property operating income fell 2.5%.
- Twinbrook Quarter Phase 1 delivered Oct 1: 452 apartments + Wegmans; 202 units leased as of Feb 24.
- Initial Twinbrook operations reduced net income by $6.8M; lease termination fees fell $2.4M.

## SEC filing metadata
- accession: 0000907254-25-000021
- form_type: 8-K
- ticker: BFS
- cik: 0000907254
- company_name: SAUL CENTERS, INC.
- filed_at: 2025-02-28T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/907254/000090725425000021/0000907254-25-000021-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/907254/000090725425000021/bfs-20250228.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000907254-25-000021
- JSON: https://secwatch.observer/filing/0000907254-25-000021.json
- Plain text: https://secwatch.observer/filing/0000907254-25-000021.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.