How did BFS's Q4 2023 earnings surprise impact its stock?

Saul Centers, Inc. (BFS) did not experience a positive earnings surprise in Q4 2023, as evidenced by the lack of any positive surprises being reported in the financial media. In fact, the total revenue for Q3 2023 increased by only 4.4% to $63.8 million from $61.1 million in Q3 2022, which is a relatively modest increase that did not lead to a significant positive surprise. The fact that the increase in revenue was not accompanied by a corresponding increase in the company's stock price following the earnings release suggests that the market may have had concerns about the company's future growth prospects or may have been expecting the revenue growth that was actually reported.

|code|Ticker|Name|Date|Closing Price|market_code|
|---|---|---|---|---|---|
|BFS|BFS.N|Saul Centers|20250404|34.28|169|

|code|Ticker|Name|Date|Total Revenue YoY|Total Revenue|market_code|
|---|---|---|---|---|---|---|
|BFS|BFS.N|Saul Centers|2022 Q4|3.4794156706507304|6.2336E7|169|
|BFS|BFS.N|Saul Centers|2023 Q1|1.4562950566426365|6.3049E7|169|
|BFS|BFS.N|Saul Centers|2023 Q2|5.665665997711177|6.3709E7|169|
|BFS|BFS.N|Saul Centers|2023 Q3|4.385548480036669|6.3766E7|169|