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General Growth Soars In Investments

Wed, 03 Dec 2008 16:44:00 GMT

View SEC Filings View Insider Trading View Annual Reports General Growth Properties (NYSE: GGP) shares surged higher after activist investor Bill Ackman’s investment was followed by another large purchase by Morgan Stanley. The stock nearly doubled at the end of November when Ackman’s Pershing Square disclosed a 19.9% ownership stake in the troubled real estate investment trust. The rally was extended this week after Morgan Stanley increased its stake to 5.1%, presumably upon making a[More...]

NASDAQ Technical Picture - Bulls Regain Momentum

Thu, 09 Aug 2007 06:10:05 GMT

Early strength was triggered by solid earnings in a few names including CSCO, which helped the NAZ outperform. Also some[More...]

Saul Centers, Inc. Reports Second Quarter 2009 Earnings

Thu, 06 Aug 2009 20:00:00 GMT

Saul Centers, Inc. , an equity real estate investment trust , announced its operating results for the quarter ended June 30, 2009. Total revenue for the three months ended June 30, 2009 decreased 1.7% to $39,416,000 compared to $40,105,000 for the three months ended June 30, 2008 . Operating income, which is net income available to common stockholders before gain on property dispositions, loss on early extinguishment of debt, income attributable to the noncontrolling interest and preferred stock dividends, decreased 13.1% to $10,574,000 for the 2009 Quarter compared to $12,175,000 for the 2008 Quarter. Net income available to common stockholders was $3,934,000 or $0.22 per diluted share for the 2009 Quarter, compared to net income available to common stockholders of $6,443,000 or $0.36 per diluted share for the 2008 Quarter. During the 2009 Quarter, the Company refinanced mortgage debt on four properties. As a result of these refinancings, the Company incurred expense totaling $1,660,000 related to the early retirement of the existing mortgage debt due to mature December 2011. The Company also modified its existing revolving credit agreement which was due to expire in December 2010. Interest expense and amortization of deferred debt costs includes $280,000 associated with the modification. Total expense recognized in the 2009 Quarter for these financing activities was $1,940,000.[More...]

Saul Centers Declares Quarterly Dividends

Thu, 18 Jun 2009 20:03:00 GMT

Saul Centers, Inc. has declared a quarterly dividend of $0.39 per share on its common stock, to be paid July 31, 2009 to holders of record on July 17, 2009. The amount of the quarterly common dividend payable is unchanged from the amount paid in the previous quarter and a decrease of $0.08 per share compared to the prior year's comparable quarter.[More...]

Saul Centers, Inc. Reports First Quarter 2009 Earnings

Wed, 22 Apr 2009 21:10:00 GMT

BETHESDA, Md., April 22 /PRNewswire-FirstCall/ -- Saul Centers, Inc. , an equity real estate investment trust (REIT), announced its operating results for the quarter ended March 31, 2009.
Total revenue for the three months ended March 31, 2009 ("2009 Quarter") increased 2.5% to $39,689,000 compared to $38,722,000 for the three months ended March 31, 2008 ("2008 Quarter").
The Company issued approximately $79,300,000 of Series B preferred stock in March 2008, which increased the 2009 Quarter preferred stock dividends by $1,688,000 as compared to the 2008 Quarter.

[More...]

Saul Centers Declares Quarterly Dividends - Mar 16 2009 4:38PM

Mon, 16 Mar 2009 20:18:00 GMT

Saul Centers, Inc. has declared a quarterly dividend of $0.39 per share on its common stock, to be paid April 30, 2009 to holders of record on April 16, 2009. The amount of the quarterly common dividend payable is unchanged from the amount paid in the previous quarter and a decrease of $0.08 per share compared to the prior year's comparable quarter.[More...]

Saul Centers, Inc. Reports Fourth Quarter 2008 Earnings

Mon, 23 Feb 2009 19:56:00 GMT

Saul Centers, Inc. , an equity real estate investment trust , announced its operating results for the quarter ended December 31, 2008. Total revenue for the three months ended December 31, 2008 increased 4.5% to $40,571,000 compared to $38,810,000 for the three months ended December 31, 2007 . Operating income, which is net income available to common stockholders before gain on property dispositions, minority interests and preferred stock dividends, increased 4.5% to $11,853,000 for the 2008 Quarter compared to $11,340,000 for the 2007 Quarter. For the 2008 Quarter, the Company recognized a non-operating, gain on property dispositions of $1,096,000, arising from insurance proceeds related to minor fire damage sustained at two shopping centers during 2008. These insurance proceeds are expected to fund substantially all of the restoration. The gain recognized was measured as the difference between insurance proceeds and the depreciated carrying value of the assets replaced. The Company issued approximately $79,300,000 of Series B preferred stock in March 2008, which increased the 2008 Quarter preferred stock dividends by $1,785,000. Net income available to common stockholders decreased to $7,029,000 or $0.39 per diluted share for the 2008 Quarter, compared to $7,279,000 or $0.41 per diluted share for the 2007 Quarter.[More...]

Saul Centers, Inc. Announces Tax Treatment of 2008 Dividends

Mon, 12 Jan 2009 20:11:00 GMT

Saul Centers, Inc. , an equity real estate investment trust , announced today the income tax treatment for its 2008 dividends. The Company declared and paid four quarterly dividends totaling $1.88 per share of Common Stock during 2008. For tax purposes, 98.0% of the dividends are characterized as ordinary income and 2.0% of the dividends are characterized as return of capital. The Company declared and paid four dividends totaling $2.00 per depositary share on its Series A 8% Preferred Stock during 2008. The Company also declared and paid two dividends totaling $1.1559 per depositary share on its Series B 9% Preferred Stock during 2008. For tax purposes, 100.0% of all the Preferred Stock dividends are characterized as ordinary income. The information will be reported to shareholders on Form 1099-DIV.[More...]

Saul Centers Declares Quarterly Dividends - Dec 8 2008 4:38PM

Mon, 08 Dec 2008 20:26:00 GMT

Saul Centers, Inc. has declared a quarterly dividend of $0.39 per share on its common stock, to be paid January 30, 2009 to holders of record on January 16, 2009. The amount of the quarterly common dividend payable is a decrease of $0.08 per share or 17.0% from the amount paid in the previous quarter and the prior year's comparable quarter. In recent years, the Company's Board of Directors has followed a practice of setting the dividend at a level approximately equal to its taxable income so that it could comply with Real Estate Investment Trust regulations, but not pay Federal corporate income tax. This practice allowed the Company to retain the maximum amount of excess cash flow for either future acquisitions and development or retirement of debt. To continue this appropriately conservative practice, the Board took into account two new factors which warranted reducing the common dividend. First, the Series B Preferred Stock offering in March 2008 requires a dividend. While the additional capital provided by the new Preferred Stock will eventually benefit the common stockholders, the Preferred Stock dividend reduces the currently required common stock dividend payout. Second, the retail environment is becoming stressed as a result of current economic and credit market conditions, and is starting to cause increases in retail tenant delinquencies, which is beginning to negatively affect the Company's income. The Company believes the dividend reduction to be a prudent measure, appropriate for these challenging market conditions, in order to maintain a strong capital and liquidity position.[More...]

Saul Centers, Inc. Reports Third Quarter 2008 Earnings

Fri, 07 Nov 2008 20:00:00 GMT

Saul Centers, Inc. , an equity real estate investment trust , announced its operating results for the quarter ended September 30, 2008. Total revenue for the three months ended September 30, 2008 increased 7.7% to $40,947,000 compared to $38,014,000 for the three months ended September 30, 2007 . Operating income, which is net income available to common stockholders before gain on property disposition, minority interests and preferred stock dividends, decreased 5.8% to $11,264,000 for the 2008 Quarter compared to $11,956,000 for the 2007 Quarter. This $692,000 decrease in operating income includes a one-time $1,112,000 non-cash depreciation charge resulting from the demolition of a portion of the Smallwood Village Center in conjunction with the Company's redevelopment of the property. The Company issued approximately $79,300,000 of Series B preferred stock in March 2008, which increased the 2008 Quarter preferred stock dividends by $1,785,000. Primarily as a result of these two events, net income available to common stockholders decreased to $5,736,000 or $0.32 per diluted share for the 2008 Quarter, compared to $7,624,000 or $0.43 per diluted share for the 2007 Quarter.[More...]

Saul Centers Declares Quarterly Dividends - Sep 18 2008 4:13PM

Thu, 18 Sep 2008 20:00:00 GMT

Saul Centers, Inc. has declared a quarterly dividend of $0.47 per share on its common stock, to be paid October 31, 2008 to holders of record on October 17, 2008. The amount of the common dividend payable is unchanged from the previous quarter and the prior year's comparable quarter. The Company also declared the quarterly dividends for its 8% Series A Cumulative Redeemable Preferred Stock in the amount of $0.50 per depositary share and 9% Series B Cumulative Redeemable Preferred Stock in the amount of $0.5625 per depositary share. Both preferred dividends will be paid October 15, 2008 to holders of record on October 1, 2008.[More...]

Saul Centers, Inc. Reports Second Quarter 2008 Earnings

Thu, 07 Aug 2008 20:19:00 GMT

Saul Centers, Inc. , an equity real estate investment trust , announced its operating results for the quarter ended June 30, 2008. Total revenue for the three months ended June 30, 2008 increased 8.2% to $40,105,000 compared to $37,077,000 for the three months ended June 30, 2007 . Operating income, which is net income available to common stockholders before gain on property disposition, minority interests and preferred stock dividends, increased 9.9% to $12,175,000 for the 2008 Quarter compared to $11,077,000 for the 2007 Quarter. This $1,098,000 increase in operating income was offset by the $1,786,000 increase in preferred stock dividends from the Company's issuance of approximately $79,300,000 of Series B preferred stock in March 2008. As a result, net income available to common stockholders was $6,443,000 or $0.36 per diluted share for the 2008 Quarter, compared to $6,926,000 or $0.39 per diluted share for the 2007 Quarter.[More...]