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

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

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.

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Apartment REITs were the second-worst-performing property sector in 2022 - barely outperforming the troubled office sector - despite delivering a record year of operating performance highlighted by 20% FFO growth. Following two years of historic rent growth, there is little doubt that growth will moderate over the coming quarters. Market consensus sees a "hard landing" with rising vacancies and declining rents.

Apartment REITs: Tracking For Soft Landing

Centerspace (NYSE:CSR ) Q4 2022 Earnings Conference Call February 22, 2023 10:00 AM ET Company Participants Joe McComish - VP, Finance Mark Decker - CEO Anne Olson - COO Bhairav Patel - CFO Conference Call Participants Brad Heffern - RBC Capital Markets John Kim - BMO Capital Markets Alexander Goldfarb - Piper Sandler Rob Stevenson - Janney Wes Golladay - Baird Operator Hello, everyone, and welcome to the Centerspace Fourth Quarter 2022 Earnings Call. My name is Daisy, and I'll be coordinating the call today.

Centerspace (CSR) Q4 2022 Earnings Call Transcript

Centerspace (CSR) delivered FFO and revenue surprises of 0.86% and 0.50%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Centerspace (CSR) Q4 FFO and Revenues Beat Estimates

MINNEAPOLIS , Feb. 21, 2023 /PRNewswire/ -- Centerspace (NYSE: CSR) announced today its financial and operating results for the year ended December 31, 2022. 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 December 31, 2022; Same-Store Revenues, Expenses, and Net Operating Income ("NOI")1 over comparable periods; and Same-Store Weighted Average Occupancy for the three months ended December 31, 2022, September 30, 2022, and December 31, 2021 and the twelve months ended December 31, 2022 and 2021.

Centerspace Announces Financial and Operating Results for the Year Ended December 31, 2022 and Provides 2023 Financial Outlook

MINNEAPOLIS , Jan. 31, 2023 /PRNewswire/ -- Centerspace (NYSE: CSR) announces that it will release its operating results for the year ended December 31, 2022, after the market closes on February 21, 2023. Conference Call: Management will host a conference call to discuss those results on the following day, Wednesday, February 22, 2023, at 10:00 a.m.

CENTERSPACE ANNOUNCES DATES FOR THE EARNINGS RELEASE AND CONFERENCE CALL FOR THE YEAR ENDED DECEMBER 31, 2022

MINNEAPOLIS , Jan. 24, 2023 /PRNewswire/ -- Centerspace (NYSE: CSR) announced today the tax treatment (Form 1099-DIV) for calendar year 2022 distributions on its common and preferred shares of beneficial interest. Shareholders are encouraged to consult with their personal tax advisors as to the specific tax treatment of their Centerspace distributions.

CENTERSPACE ANNOUNCES 2022 DIVIDEND ALLOCATIONS

MINNEAPOLIS , Nov. 28, 2022 /PRNewswire/ -- Centerspace (NYSE: CSR) announced that on November 22, 2022, it closed on a $100 million term loan with PNC Bank as administrative agent. The loan currently bears interest at a floating rate of 1.20% to 1.75% over the Secured Overnight Financing Rate, or SOFR, based upon Centerspace's leverage ratio and is for a term of one year with a one-year extension option.

Centerspace Expands Capacity with $100 Million Term Loan

Centerspace is a multifamily REIT that has an interest in a portfolio of apartment communities located in the Midwest and Mountain West regions of the U.S. The company has benefitted from a record year in the rental housing business. Growth, however, appears to be moderating.

Centerspace: Active Market Participants At The Wrong Time

Centerspace (NYSE:CSR ) Q3 2022 Earnings Conference Call November 1, 2022 10:00 AM ET Company Participants Joe McComish - VP, Finance Mark Decker - CEO Anne Olson - COO Bhairav Patel - CFO Conference Call Participants Brad Heffern - RBC Capital Markets Rob Stevenson - Janney Montgomery Connor Mitchell - Piper Sandler Wes Golladay - Baird Buck Horne - Raymond James Brad Heffern - RBC Capital Markets Operator Hello, and welcome to the Centerspace Q3 2022 Earnings Call. My name is Lauren, and I will be coordinating your call today.

Centerspace (CSR) Q3 2022 Earnings Call Transcript

Centerspace (CSR) delivered FFO and revenue surprises of -1.71% and 1.14%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Centerspace (CSR) Q3 FFO Miss Estimates

MINNEAPOLIS , Oct. 31, 2022 /PRNewswire/ -- Centerspace (NYSE: CSR) announced today its financial and operating results for the three and nine months ended September 30, 2022. The tables below show Net Income (Loss), Funds from Operations ("FFO")1, and Core FFO1, all on a per common share basis, for the three and nine months ended September 30, 2022; 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 September 30, 2022, June 30, 2022, and September 30, 2021.

Centerspace Reports Third Quarter 2022 Financial Results and Updates Financial Outlook

MINNEAPOLIS , Oct. 12, 2022 /PRNewswire/ -- Centerspace (NYSE: CSR) announces that it will release its operating results for the quarter ended September 30, 2022, after the market closes on October 31, 2022. Conference Call: Management will host a conference call to discuss those results on the following day, Tuesday, November 1, 2022, at 10:00 a.m.

CENTERSPACE ANNOUNCES DATES FOR THE EARNINGS RELEASE AND CONFERENCE CALL FOR THE THIRD QUARTER OF 2022

MINNEAPOLIS , Sept. 7, 2022 /PRNewswire/ -- Centerspace (NYSE: CSR) announced today that it has revised the payable date of the regular quarterly distribution of $0.73 per share/unit, to October 11, 2022 to common shareholders and unitholders of record at the close of business on September 30, 2022.

CENTERSPACE ANNOUNCES QUARTERLY DIVIDEND - REVISED

Centerspace (CSR) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.

Down 12.8% in 4 Weeks, Here's Why You Should You Buy the Dip in Centerspace (CSR)

Centerspace is a multifamily-focused REIT that has a strong operating presence in the Midwestern and Mountain regions of the United States. Their operating markets have benefited from the relative affordability of their properties and the employment trends of their tenant base.

Centerspace: The Mountains Are Calling This Multifamily REIT

MINNEAPOLIS , Aug. 22, 2022 /PRNewswire/ -- Centerspace (NYSE: CSR) published its 2021 Environmental, Social, and Governance (ESG) Report, highlighting the company's commitment to sustainable business practices in the multifamily industry. This is the company's third 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 of various sustainability initiatives.

CENTERSPACE ANNOUNCES THIRD ANNUAL ENVIRONMENTAL, SOCIAL, AND GOVERNANCE REPORT

Centerspace (NYSE:CSR ) Q2 2022 Earnings Conference Call August 2, 2022 10:00 AM ET Company Participants Joe McComish - VP, Finance Mark Decker - CEO Bhairav Patel - CFO Anne Olson - COO Conference Call Participants John Kim - BMO Brad Heffern - RBC Capital Markets Rob Stevenson - Janney Connor Mitchell - Piper Sandler Buck Horne - Raymond James Wes Golladay - Baird Operator Good morning and welcome to today's Centerspace Second Quarter Earnings Call. My name is Candice and I'll be your moderator for today's call.

Centerspace (CSR) CEO Mark Decker on Q2 2022 Results - Earnings Call Transcript

Centerspace (CSR) delivered FFO and revenue surprises of 1.82% and 1.39%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

Centerspace (CSR) Q2 FFO and Revenues Top Estimates

MINNEAPOLIS , Aug. 1, 2022 /PRNewswire/ -- Centerspace (NYSE: CSR) announced today its financial and operating results for the three and six months ended June 30, 2022. 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, 2022; 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, 2022, March 31, 2022, and June 30, 2021.

Centerspace Reports Second Quarter 2022 Financial Results

MINNEAPOLIS , July 13, 2022 /PRNewswire/ -- Centerspace (NYSE: CSR) announces that it will release its operating results for the quarter ended June 30, 2022, after the market closes on August 1, 2022. Conference Call: Management will host a conference call to discuss those results on the following day, Tuesday, August 2, 2022, at 10:00 a.m.

CENTERSPACE ANNOUNCES DATES FOR THE EARNINGS RELEASE AND CONFERENCE CALL FOR THE SECOND QUARTER OF 2022

MINNEAPOLIS , June 3, 2022 /PRNewswire/ -- NYSE: CSR. Centerspace's Board of Trustees announced today that it has declared a regular quarterly distribution of $0.73 per share/unit, payable on July 11, 2022 to common shareholders and unitholders of record at the close of business on June 30, 2022.

CENTERSPACE ANNOUNCES DISTRIBUTIONS FOR THE 2nd QUARTER OF CALENDAR YEAR 2022

Centerspace (NYSE:CSR ) Q1 2022 Earnings Conference Call May 3, 2022 10:00 AM ET Company Participants Emily Miller - Investor Relations Mark Decker - Chief Executive Officer Bhairav Patel - Chief Financial Officer Conference Call Participants Brad Heffern - RBC Capital Markets Buck Horne - Raymond James Connor Mitchell - Piper Sandler Rob Stevenson - Janney Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transcript are designed to help you navigate the audio should the corresponding text be unclear.

Centerspace's (CSR) CEO Mark Decker on Q1 2022 Results - Earnings Call Transcript

Centerspace (CSR) delivered FFO and revenue surprises of -7.55% and 2.13%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?

Centerspace (CSR) Misses Q1 FFO Estimates

MINNEAPOLIS, May 2, 2022 /PRNewswire/ -- Centerspace (NYSE: CSR) announced today its financial and operating results for the three months ended March 31, 2022. 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, 2022; 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 March 31, 2022, December 31, 2021, and March 31, 2021.

Centerspace Reports First Quarter 2022 Financial Results and Affirms Core FFO Guidance

MINNEAPOLIS , April 13, 2022 /PRNewswire/ -- Centerspace (NYSE: CSR) announces that it will release its operating results for the quarter ended March 31, 2022, after the market closes on May 2, 2022. Conference Call: Management will host a conference call to discuss those results on the following day, Tuesday, May 3, 2022, at 10:00 a.m.

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