Welcome to our dedicated page for Centerspace news (Ticker: CSR), a resource for investors and traders seeking the latest updates and insights on Centerspace stock.
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) announced the tax treatment for its 2020 cash distributions for both common and preferred shares. Shareholders are advised to consult their tax advisors regarding their personal tax implications. Key distributions include:
- Common Shares: $0.7000 distributed quarterly
- Series C Preferred: $0.4140625 distributed quarterly
Shareholders received a total of $2.80 per common share and $1.65625 per preferred share for the year. Record and payable dates vary per distribution.
Centerspace (NYSE: CSR) has acquired Union Pointe Apartment Homes in Longmont, Colorado for $76.9 million. The property, built in 2019, consists of 256 units and is 94% occupied, with average rents at $1,582. Additionally, Centerspace issued $50 million in unsecured Series C Notes at 2.7% due on June 6, 2030. Proceeds from the notes will fund the acquisition and enhance corporate flexibility, expanding the Note Purchase Agreement with Prudential from $150 million to $225 million.
Centerspace (NYSE: CSR) will virtually ring The Closing Bell at the New York Stock Exchange on December 22, 2020, marking a significant milestone following its rebranding from IRET. CEO Mark O. Decker, Jr. expressed pride in the company's new name and ticker symbol, viewing the event as a celebration of their brand and a way to conclude the year positively. Centerspace owns and manages 67 apartment communities comprising 11,910 homes. The event will be streamed live and archived on the NYSE website.