Saul Centers Q2 FY26 net income falls 18.58% to $11.5 million; revenue rises to $76.8 million

Saul Centers posted Q2 2026 revenue of $76.8 million, up 8.47% from a year earlier; GAAP net income fell 18.55% to $11.5 million.

GAAP net income available to common stockholders dropped 24.85% to $6 million, or $0.24 per share, versus the prior-year quarter.

Non-GAAP FFO available to common stockholders and noncontrolling interests slipped 2.27% to $24.8 million, or $0.69 per share, compared with Q2 2025.

Results were weighed by initial operations at Hampden House, which cut GAAP net income by $4 million and non-GAAP FFO by $2.4 million.

As of Aug. 3, 235 of 366 Hampden House apartments were leased and occupied (64.2%); 8,600 of 10,100 retail square feet were leased and occupied (85.1%).