UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Saul Centers, Inc.
(Name of Issuer)
Common Stock
(Title and Class of Securities)
804395101
(CUSIP Number)
December 31, 2015
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[X] Rule 13d-1(b)
[_] Rule 13d-1(c)
[_] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of
the Act (however, see the Notes).
CUSIP No. 804395101 Page 2
1 NAMES OF REPORTING PERSONS
Principal Real Estate Investors, LLC
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a)
(b)
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF 5 SOLE VOTING POWER 0
SHARES
BENEFICIALLY 6 SHARED VOTING POWER 953,574
OWNED BY
EACH 7 SOLE DISPOSITIVE POWER 0
REPORTING
PERSON WITH 8 SHARED DISPOSITIVE POWER 953,574
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
953,574
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (See Instructions)
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.5
12 TYPE OF REPORTING PERSON (See Instructions)
IA
CUSIP No. 804395101 Page 3
Item 1(a). Name of Issuer:
Saul Centers, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
7501 Wisconsin Ave.
Suite 1500E
Bethesda, MD 20814-6522
Item 2(a). Name of Person Filing:
Principal Real Estate Investors, LLC
Item 2(b). Address of Principal Business Office, or, if None, Residence:
Principal Real Estate Investors, LLC
801 Grand Avenue
Des Moines, IA 50392
Item 2(c). Citizenship:
Principal Real Estate Investors, LLC - State of Delaware
Item 2(d). Title of Class of Securities:
Common Stock
Item 2(e). CUSIP Numbers:
804395101
Item 3. If this statement is filed pursuant to section 240.13d-1(b) or 240.13d
2(b) or (c), check whether the person filing is a:
(e) [X] An investment adviser in accordance with section 240.13d
1(b)(1)(ii)(E)
Item 4. Ownership:
(a) Amount Beneficially Owned
953,574 Shares Common Stock presently held by Principal
Real Estate Investors, LLC
CUSIP No. 804395101 Page 4
(b) Percent of Class
4.5 Principal Real Estate Investors, LLC
(c) Number of shares as to which the person has:
(i) Sole Power to Vote or Direct the Vote
0 Shares Common Stock Principal Global Investors, LLC
(ii) Shared Power to Vote or Direct the Vote
953,574 Shares Common Stock presently held by Principal
Real Estate Investors, LLC
(iii) Sole Power to Dispose or to Direct the Disposition of
0 Shares Common Stock Principal Global Investors, LLC
(iv) Shared Power to Dispose or to Direct the Disposition of
953,574 Shares Common Stock presently held by Principal
Real Estate Investors, LLC
Item 5. Ownership of Five Percent or Less of a Class:
[X]
Item 6. Ownership of More than Five Percent on Behalf of Another Person
Persons other than the reporting persons have a right to receive or the
power to direct the receipt of dividends from or the proceeds from the sale
of such securities. The interest of no such person having such an interest
relates to more than five percent of the class.
Item 7. See Exhibit attached
CUSIP No. 804395101 Page 5
Item 8. Identification and Classification of Members of the Group
Not applicable
Item 9. Notice of Dissolution of Group
Not applicable
Item 10(a). Certification
By signing below I certify, to the best of my knowledge and belief,
the securities referred to above were acquired and are held in the
ordinary course of business and were not acquired and are not held
for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired
and are not held in connection with or as a participant in any
transaction having that purpose or effect.
Signature
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete
and correct.
Principal Real Estate Investors, LLC
By /s/ Jill Hittner
Jill Hittner, Chief Financial Officer
Dated February 15, 2016
EXHIBIT 99.1
Principal Real Estate Investors, LLC
Item 3 Classification:
(e) Investment Adviser in accordance with Section 240.13d-1(b)(1)(ii)(E)