CSR
Centerspace64.42
-0.42-0.65%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Guidance clarified, strategic review pauses capex
Q&A unpacked 2026 guidance granularity, clarifying portfolio blended spreads at mid-1% (not the scripted 2%) amid Colorado regs trimming $1M revenue and slight occupancy dips. Management paused value-add CapEx and buybacks pending strategic review outcomes, citing execution risks and info rules—no repurchases at current levels. Denver concessions linger into H1 but foot traffic revives; Minneapolis unrest barely dents leasing. Regs now key for new markets, yet current ones hold firm. No buybacks until review wraps. Cautious tone prevails; investors eye strategic call and Denver inflection.
Key Stats
Market Cap
1.14BP/E (TTM)
35.59Basic EPS (TTM)
1.81Dividend Yield
0.05%Recent Filings
8-K
Trustee Emily Green retires
Centerspace trustee Emily Nagle Green will retire from the Board, Nominating and Governance Committee chair role, and Audit Committee effective May 13, 2026, after declining re-election. The tech CEO since 2018 drove innovation and cybersecurity navigation. Board Chair lauds her governance impact. Centerspace loses key expertise.
8-K
Centerspace 2026 guidance beats peers
Centerspace released its investor presentation on February 27, 2026, detailing 2025 results and 2026 outlook. Core FFO per share guides $4.81-$5.05, with same-store NOI growth at 0.75% midpoint, outpacing multifamily peers. 2025 moves—$281M acquisitions in Salt Lake City and Fort Collins, $212M dispositions from St. Cloud and Minneapolis—boosted rents to $1,658/home and NOI margins. Supply tailwinds ahead.
10-K
FY2025 results
Centerspace swung to net income of $1.02 per diluted share in FY2025 ended December 31, 2025, up from a $1.27 loss, fueled by $79.5M gain on disposing twelve non-core communities for $215.5M while acquiring two totaling 761 homes. Same-store NOI climbed 3.5% on 2.4% revenue growth and steady 95.7% weighted occupancy, with total NOI up 6.1% to $167.4M despite $37.7M impairments. Q4 momentum showed from non-same-store NOI jumping on new assets, yet repositioning one community trimmed occupancy. Debt stayed manageable at 41.8% of assets with $246M revolver room; repurchased 63K shares under $100M program. Strategic alternatives review underway. Low occupancy or lease terminations risk rental revenue.
8-K
2025 profit, Core FFO up
Centerspace swung to net income of $1.02 per diluted share in 2025 from a $1.27 loss, with Core FFO up to $4.93 per share and same-store NOI growing 3.5% on 2.4% revenue gains. Acquired $281.2M in apartments, sold $215.5M in non-core assets; Board eyes strategic alternatives. 2026 Core FFO guides $4.81-$5.05. Review outcome uncertain.
8-K
Portfolio upgrades via deals
Centerspace posted an investor presentation detailing 2025 portfolio upgrades: $212.1M dispositions from St. Cloud and Minneapolis closed September 23 and November 6, funding $281.2M acquisitions in Salt Lake City (May 30) and Fort Collins (July 29) that boost NOI margins to 67.4% from 52.9%. Transactions cut Minneapolis NOI exposure from 33% to 29% while entering high-growth Salt Lake. Core FFO guidance holds at $4.88-$4.96 per share.
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