Centerspace is a multifamily real estate investment trust that owns and operates apartment communities in Colorado, Minnesota, Montana, Nebraska, North Dakota, South Dakota, and Utah. News about CSR centers on quarterly and annual operating results, including FFO, Core FFO, same-store revenue, NOI, occupancy, lease-rate growth, and resident retention.
Recurring updates also cover portfolio activity, regular distributions to common shareholders and unitholders, annual dividend tax allocations, earnings-call schedules, investor presentations, and Board of Trustees governance matters.
Centerspace (NYSE: CSR) reported third-quarter diluted net income of $7.28 per share, up from $3.19 a year earlier. Gains on sales of real estate and other investments rose to $150.3 million from $79.5 million. Revenue fell 16.6% to $59.5 million. Core funds from operations, a non-GAAP earnings measure, fell 6.7% to $1.11 per diluted share. Same-store revenue was flat; expenses rose 4.2%, reducing net operating income 2.7%.
Centerspace sold 13 communities for $288.8 million and fully repaid its credit-line balances. Quarter-end liquidity totaled $366.2 million. Its pending merger would exchange each eligible common share for 3.8 IRT shares, subject to agreement adjustments. Required shareholder approvals remain pending, with a special meeting scheduled for November 10, 2026. Citing the proposed merger, Centerspace stopped providing guidance and is not affirming past guidance.
Independence Realty Trust (NYSE: IRT) reported third-quarter 2026 net income available to common shares of $25.1 million, up from $6.9 million.
Diluted earnings rose to $0.11 per share from $0.03. Core funds from operations, an adjusted operating earnings measure, remained $0.29 per share. Same-store net operating income rose 1.6%, with revenue up 2.0% and property expenses up 2.5%. Occupancy fell 40 basis points year over year to 95.0%. IRT lowered full-year EPS guidance to $0.18–$0.20 from $0.22–$0.27, while retaining core funds from operations guidance of $1.13–$1.15 per share.
The pending Centerspace merger exchanges each Centerspace share for 3.800 IRT shares. IRT expects closing as early as year-end 2026, subject to both companies’ shareholder approvals on November 10 and other closing conditions, and expects $24 million in annual synergies and 5% core funds from operations accretion.
Centerspace (CSR) will release its third-quarter 2026 operating results after the market closes on November 2, 2026.
The results cover the quarter ended September 30, 2026. The company will not host an earnings conference call, citing its previously announced merger with Independence Realty Trust (IRT).
Summary not available.
Independence Realty Trust (IRT) and Centerspace (CSR) agreed to merge in an all-stock transaction creating a middle‑market multifamily REIT with an estimated $5.0 billion pro forma equity market capitalization and $8.1 billion enterprise value.
Centerspace shareholders will receive 3.800 IRT shares per CSR share, implying issuance of about 67.6 million IRT shares and units. Post‑closing, IRT holders are expected to own 78% and Centerspace holders 22% of the combined equity, excluding preferred units. The combined portfolio will comprise 44,354 units across 163 communities in 17 states, with pro forma NOI approximately 58% Sunbelt, 27% Midwest, 15% Mountain West.
The deal is expected to close as early as Q4 2026, qualify as a U.S. tax‑free reorganization, generate about $24 million in annualized synergies, and be roughly 5% accretive to IRT’s 2027 Core FFO per share on a leverage‑neutral basis. The combined company will keep the IRT name, headquarters in Philadelphia, and the NYSE ticker “IRT”.
Centerspace (CSR) declared a regular quarterly distribution of $0.77 per share/unit, payable on October 14, 2026 to common shareholders and unitholders of record as of the close of business on September 29, 2026.
As of August 31, 2026, Centerspace owned 47 apartment communities with 10,456 homes across six U.S. states.
Centerspace (NYSE: CSR) released its 2025 Environmental, Social, and Governance (ESG) Report, the seventh since forming its ESG Committee in 2019. The report details progress toward performance targets aligned with United Nations Sustainable Development Goals, including a portfolio-wide greenhouse gas inventory, expanded smart home technology, and operational decarbonization efforts.
Centerspace (NYSE: CSR) reported second quarter 2026 revenue of $65.8 million, down 4.0% from $68.5 million a year earlier, mainly due to prior-year asset sales. Net loss was $0.07 per diluted share versus a loss of $0.87, reflecting prior-year impairment charges. Q2 diluted Core FFO was $1.27, slightly below $1.28 in 2025, with same-store NOI up 0.3% year over year and 4.8% sequentially.
During Q2, Centerspace sold a 176-home Denver community for $30.0 million and repurchased 45,310 shares at an average price of $55.54. Subsequent to quarter-end, it disposed of seven additional communities for $139.8 million. Liquidity totaled $242.6 million. The company updated 2026 guidance, now targeting diluted FFO per share of $4.37–$4.50 and Core FFO of $4.58–$4.68, down from prior ranges of $4.65–$4.92 and $4.81–$5.05, respectively, incorporating a deleveraging-focused disposition program with expected gross proceeds of $315–$320 million and potential special distributions of $50–$60 million.
Centerspace (NYSE: CSR) plans to release operating results for the quarter ended June 30, 2026, after market close on Monday, August 3, 2026. A conference call to discuss results will be held on Tuesday, August 4, 2026, at 10:00 a.m. ET.
Investors can access a live webcast or operator-assisted dial-in, with a replay available for one year. Centerspace owns 61 apartment communities with 12,263 homes across seven states as of March 31, 2026.
Centerspace (NYSE: CSR) approved a portfolio optimization and deleveraging plan following its strategic review. The company targets $240–245 million of 2026 asset sales, exiting Bismarck and Rapid City and selling one Denver community. Expected uses include debt reduction, potential special distributions, and reinforcing its balance sheet.
Centerspace also declared a regular quarterly distribution of $0.77 per share/unit, payable July 14, 2026, to holders of record on June 29, 2026.