Centerspace REIT

Centerspace engages in the ownership, management, acquisition, redevelopment, and development of apartment communities. It focuses on making operational enhancements to improve residents experience, redeveloping existing apartment communities to meet market demands and acquiring new apartment communities in the Minneapolis/St. Paul and Denver metropolitan areas. The company was founded on July 31, 1970 and is headquartered in Minot, ND.

Earnings data Q1 2021

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Earnings data Q1 2023

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Earnings data Q4 2023

Earnings data Q1 2024

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Earnings data Q3 2024

Earnings data Q4 2024

Centerspace REIT (CSR) reports robust Q4 performance and eyes growth opportunities

Centerspace REIT's Q4 2022 performance showcased resilience amidst industry headwinds, with strong financial metrics and strategic capital deployment. The company's focus on stabilizing utility expenses and exploring growth opportunities positions it well for future success.

Centerspace REIT (CSR) reports strong Q1 earnings, focuses on debt management and strategic growth

Centerspace REIT (CSR) showcased robust financial performance in Q1 2023, marked by strong revenue and NOI growth. While challenges in debt management and portfolio redevelopment exist, the company's effective cost control measures and revenue strategies position it well for future growth and value creation.

Centerspace REIT (CSR) reports robust Q2 performance and raises guidance

Centerspace REIT (CSR) delivered a strong Q2 performance with notable Core FFO growth and increased guidance for the year. The company's robust balance sheet, low leverage, and positive outlook for 2023 underscore its resilience and strategic focus amidst market dynamics.

Centerspace REIT (CSR) reports robust Q3 performance and eyes growth opportunities

Centerspace REIT (CSR) delivered strong financial results in Q3 2023, with revenue and core FFO showing significant year-over-year growth.
Despite challenges in rising expenses, the company's strategic focus on acquisitions, sales, and portfolio enhancement positions it well for future success.
With increased guidance for 2023 and a focus on improving market exposure, Centerspace REIT (CSR) is poised for continued growth and value creation.

Centerspace REIT reports solid 2023 performance amidst 2024 growth challenges

Centerspace REIT (CSR) delivered strong financial performance in 2023, marked by core FFO growth and operational stability, supported by strategic portfolio actions.
While facing challenges in achieving targeted core FFO growth in 2024, the company's focus on expense management and revenue optimization presents opportunities for future growth.
Investors can benefit from Centerspace's consistent dividend increases, share buybacks, and proactive approach to portfolio management, signaling a commitment to long-term value creation.

Centerspace REIT (CSR) reports solid Q1 performance and eyes growth opportunities

Centerspace REIT (CSR) delivered a strong performance in Q1 2024, with positive lease-over-lease growth and solid earnings driven by expense management.
While facing challenges in revenue guidance and acquisition competition, the company maintains a flexible balance sheet and focuses on value-add programs.
Opportunities lie in higher lease pricing, stable financing, and strategic capital allocation decisions to drive future growth and financial strength.

Centerspace REIT reports robust Q3 earnings, eyes growth opportunities

Centerspace REIT (CSR) demonstrated strong financial performance in Q3 2024, with a positive outlook for future earnings.
While challenges like market rent softening and Denver market specifics were discussed, opportunities in lease renewals and revenue optimization were highlighted.
The company's strategic acquisitions and financial discipline position it well for continued growth and value creation.

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Centerspace is a real estate investment trust, which engages in the business of owning, managing, acquiring, developing, and redeveloping apartment communities. It operates under the Multifamily and All Other segments. The All Other segment includes non-multifamily properties and non-multifamily components of mixed-use properties. The company was founded on July 31, 1970 and is headquartered in Minot, ND.

MINNEAPOLIS, Aug. 30, 2021 /PRNewswire/ -- NYSE: CSR. Centerspace announced today that the Board of Trustees has declared a regular quarterly distribution of $0.72 per share/unit, payable on October 11, 2021, to common shareholders and unitholders of record at the close of business on September 30, 2021.

Centerspace Announces 2.8% Increase To Common Distributions For The 3rd Quarter Of Calendar Year 2021

Centerspace (CSR) CEO Mark Decker on Q2 2021 Results - Earnings Call Transcript

MINNEAPOLIS, Aug. 2, 2021 /PRNewswire/ -- Centerspace (NYSE: CSR) announced today its financial and operating results for the three and six months ended June 30, 2021. The tables below show Net Income, Funds from Operations ("FFO")1, and Core FFO1, all on a per share basis, for the three and six months ended June 30, 2021; Same-Store Revenues, Expenses, and Net Operating Income ("NOI")1 over comparable periods; and Same-Store Weighted-Average Occupancy for each of the three months ended June 30, 2021, March 31, 2021, and June 30, 2020.

Centerspace Reports Strong Second Quarter 2021 Financial Results; Improved Financial Outlook

Investors Real Estate Trust (CSR) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

Should You Buy Investors Real Estate Trust (CSR) Ahead of Earnings?

Centerspace (CSR) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

Centerspace (CSR) Upgraded to Buy: Here's Why

MINNEAPOLIS, July 13, 2021 /PRNewswire/ -- Centerspace (NYSE: CSR) announces that it will release its second quarter 2021 operating results after the market closes on Monday, August 2, 2021.   Conference Call: Management will host a conference call to discuss those results on the following day, Tuesday, August 3, 2021, at 10:00 a.m.

Centerspace Announces Dates For The Earnings Release And Conference Call For The Second Quarter Of 2021

Centerspace is trading at a significant discount to peers.

Centerspace Has Become The Deepest Value Stock Among U.S. Multifamily REITs

MINNEAPOLIS, June 4, 2021 /PRNewswire/ -- Centerspace's (NYSE: CSR) Board of Trustees announced today that it has declared a regular quarterly distribution of $0.70 per share/unit, payable on July 12, 2021, to common shareholders and unitholders of record at the close of business on June 30, 2021. The Board of Trustees also declared a distribution of $0.4140625 per share on the 6.625% Series C Cumulative Redeemable Preferred Shares (NYSE: CSR PRC), payable on June 30, 2021, to holders of record at the close of business on June 15, 2021.

Centerspace Announces Distributions For The 2nd Quarter Of Calendar Year 2021

MINNEAPOLIS, June 3, 2021 /PRNewswire/ -- Centerspace (NYSE: CSR) has entered into Contribution Agreements with entities managed by KMS Management, Inc. ("KMS"), to acquire a portfolio of 17 communities for the aggregate purchase price of $323.8 million. The portfolio of 19 real estate assets is compriseed of 14 communities in Minneapolis, Minnesota and three communities in St. Cloud, Minnesota.

Centerspace To Acquire $324 Million Strategic Minnesota Portfolio

MINNEAPOLIS, May 24, 2021 /PRNewswire/ -- Centerspace (NYSE: CSR) published its 2020 Environmental, Social, and Governance (ESG) Report, highlighting the company's commitment to sustainable business practices in the multifamily industry. This is the company's second annual report following its 2019 formation of an Environmental, Social, and Governance Committee established to lead the charge in identifying, implementing, and tracking the progress on various sustainability initiatives.

Centerspace Announces Second Annual Environmental, Social, And Governance Report And Provides April Leasing Activity

Investors Real Estate Trust (CSR) CEO Mark Decker on Q1 2021 Results - Earnings Call Transcript

Centerspace (CSR) delivered FFO and revenue surprises of 7.95% and 1.69%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?

Centerspace (CSR) Beats Q1 FFO and Revenue Estimates

MINNEAPOLIS, May 3, 2021 /PRNewswire/ -- Centerspace (NYSE: CSR) announced today its financial and operating results for the quarter ended March 31, 2021. The tables below show Net Income, Funds from Operations ("FFO")1, and Core FFO1, all on a per share basis, for the three months ended March 31, 2021; Same-Store Revenues, Expenses, and Net Operating Income ("NOI")1 over comparable periods; and Same-Store Weighted-Average Occupancy for the three months ended March 31, 2021, December 31, 2020, and March 31, 2020.

Centerspace Reports Strong First Quarter 2021 Financial Results

MINNEAPOLIS, April 19, 2021 /PRNewswire/ -- Centerspace (NYSE: CSR) announces 122% increase to its mid-point earnings per share outlook and 4.2% increase to its mid-point Core FFO outlook for 2021 based on improved first quarter leasing activity. Financial Outlook With faster than anticipated vaccination rates, increased financial stimulus, acceleration of rent growth and the expectation of lower expense growth for the year, Centerspace has revised its outlook for 2021 upwards and the midpoint of guidance is rising from $3.455 to $3.60 for Core FFO.

Centerspace Announces Improved Financial Outlook And First Quarter Leasing Activity

MINNEAPOLIS, April 13, 2021 /PRNewswire/ -- Centerspace (NYSE: CSR) announces that it will release its first quarter 2021 operating results after the market closes on Monday, May 3, 2021.   Conference Call: Management will host a conference call to discuss those results on the following day, Tuesday, May 4, 2021, at 10:00 a.m.

Centerspace Announces Dates for the Earnings Release and Conference Call for the First Quarter of 2021

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In recent years, Centerspace has worked hard to reinvent itself. This has, in some ways, created some nice shareholder value, but not everything is great.

Centerspace: A Costly Opportunity

Centerspace's (CSR) CEO Mark Decker on Q4 2020 Results - Earnings Call Transcript

MINNEAPOLIS, Feb. 22, 2021 /PRNewswire/ -- Centerspace (NYSE: CSR) announced today its financial and operating results for the year ended December 31, 2020. The tables below show Net Income (Loss), Funds from Operations ("FFO")1, and Core FFO1, all on a per share basis, for the year ended...

Centerspace Announces Financial and Operating Results for the Year Ended December 31, 2020 and Provides 2021 Financial Outlook

MINNEAPOLIS, Feb. 1, 2021 /PRNewswire/ -- Centerspace (NYSE: CSR) announces that it will release its operating results for the year ended December 31, 2020 after the market closes on Monday, February 22, 2021. Conference Call: Management will host a conference call to discuss those...

Centerspace Announces Dates For The Earnings Release And Conference Call For The Year Ended December 31, 2020

MINNEAPOLIS, Jan. 21, 2021 /PRNewswire/ -- Centerspace (NYSE: CSR) announced today the tax treatment (Form 1099-DIV) for calendar year 2020 distributions on its common and preferred shares of beneficial interest. Shareholders are encouraged to consult with their personal tax advisors as...

Centerspace Announces 2020 Dividend Allocations

Apartment Income REIT Corp

Apartment Investment and Management

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The average REIT had a negative monthly return in 7 of the 12 months of 2020, with a 3.48% total return in December. Mid cap (+4.5%) and micro cap REITs (+3.45%) outperformed in December, while small caps (+2.43%) saw smaller gains. 75% of REIT securities had a positive total return in December.

The State Of REITs: January 2021 Edition

MINNEAPOLIS, Jan. 6, 2021 /PRNewswire/ -- Centerspace (NYSE: CSR) announced today that it has acquired Union Pointe Apartment Homes in Longmont, Colorado, for an aggregate purchase price of $76.9 million. Constructed in 2019, Union Pointe consists of 256 homes on 13 acres in the rapidly...

Centerspace Continues Growth In Denver Market And Prices Unsecured Notes

IRET's share price has nearly fully recovered since the start of the year, and occupancy has remained strong. However, some near-term headwinds remain, and the balance sheet is more leveraged than what I'd prefer to see.

Investors Real Estate Trust: Don't Move In Just Yet

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The pandemic-driven "urban exodus" hasn't yet shown signs of slowing. Apartment REITs in the coastal "shutdown cities" have been slammed as residents flee to lower-cost suburban markets and business-friendly Sunbelt metros.

News for Centerspace REIT Stock (CSR)