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 (NYSE: CSR) is a real estate investment trust (REIT) focused on owning and operating apartment communities, and its news flow reflects both operating performance and portfolio activity. This page aggregates news releases and updates related to Centerspace’s multifamily portfolio, financial results, ESG reporting, and strategic decisions.
Company news frequently covers quarterly financial and operating results, where Centerspace reports metrics such as Net Income or Net Loss per diluted share, Funds from Operations (FFO), Core FFO, Net Operating Income (NOI), same-store revenues and expenses, occupancy, lease rate growth, and resident retention. Earnings releases are often accompanied by details on conference calls and webcasts for investors.
Another recurring theme in Centerspace’s news is portfolio transactions. The company has announced acquisitions of apartment communities in markets such as Salt Lake City, Utah and Loveland, Colorado, as well as dispositions like the sale of five communities in the St. Cloud, Minnesota market, which marked its exit from that market. These updates provide insight into the company’s ongoing portfolio repositioning and capital allocation decisions.
Centerspace also issues news about its dividend distributions, with its Board of Trustees declaring regular quarterly distributions to common shareholders and unitholders. In addition, the company publishes announcements on its Environmental, Social, and Governance (ESG) efforts, including annual ESG reports, a Task Force on Climate Related Financial Disclosures (TCFD) report, and progress toward ESG goals.
Strategic developments, such as the Board of Trustees’ review of strategic alternatives, are also communicated through news releases. Investors and observers can use this news page to follow Centerspace’s reported financial performance, portfolio changes, ESG initiatives, dividend declarations, and strategic reviews over time.
Centerspace (NYSE: CSR) reported its financial results for the year ending December 31, 2022, revealing a diluted net loss per share of $1.35, compared to $0.47 in 2021. Core FFO increased 11.0% year-over-year to $4.43 per share. Same-store revenues saw a growth of 10%, while expenses rose by 11.6%, resulting in a 9% increase in NOI. The company repurchased 432,000 shares for $29.1 million. Centerspace secured a $100 million term loan and holds $153 million in total liquidity as of year-end. For 2023, the company projects a diluted net income range of $2.37 to $3.25 per share.
Centerspace (NYSE: CSR) announced it will release its operating results for the year ended December 31, 2022, after market close on February 21, 2023. A conference call to discuss these results will take place on February 22, 2023, at 10:00 AM ET. Interested parties can access the live webcast via Centerspace's investor relations page. The company operates 84 apartment communities across six states, focusing on providing quality housing. For further inquiries, investors can contact Joe McComish, Investor Relations, at (701) 837-7104 or via email.
Centerspace (NYSE: CSR) announced the tax treatment for its 2022 distributions, detailing allocations for common and preferred shares. Key dividend payments include:
- Common Shares: Total of $2.91 per share.
- Series C Preferred: Total of $1.65625 per share.
Record dates for cash distributions span from January to December 2022, with payable dates following shortly after. Shareholders should consult tax advisors for personal tax implications of these distributions.
Centerspace has declared a quarterly dividend of $0.73 per share, payable on January 12, 2023, to shareholders of record as of January 2, 2023. Additionally, the company will distribute $0.4140625 per share on its 6.625% Series C Cumulative Redeemable Preferred Shares, with payment on December 30, 2022, to holders of record by December 15, 2022. These dividends reflect Centerspace’s commitment to returning value to its investors and maintaining a steady income stream from its operations across 84 apartment communities.
Centerspace (NYSE: CSR) announced the closing of a $100 million term loan with PNC Bank on November 22, 2022. The loan bears a floating interest rate of 1.20% to 1.75% over the Secured Overnight Financing Rate (SOFR) and has a term of one year with a possible one-year extension. Proceeds will be used to repay part of the existing credit facility. According to President and CEO Mark O. Decker, this financing enhances the company's capacity and flexibility amidst a challenging capital markets environment.
Centerspace (NYSE: CSR) released its financial results for Q3 and YTD September 30, 2022. It reported a net loss of $0.14 per diluted share, a significant improvement from a loss of $0.79 per share a year prior. Funds from Operations (FFO) rose to $1.13 per share, up from $0.60, while Core FFO increased 17.3% to $1.15. Same-store revenues grew by 11.1%, with a 11.4% rise in Net Operating Income (NOI). The company revised its 2022 outlook, projecting a net loss of $0.50 to $0.41 per diluted share, influenced by rising costs and recent acquisitions.
Centerspace (NYSE: CSR) will release its operating results for the quarter ending September 30, 2022, after the market closes on October 31, 2022. A conference call is scheduled for November 1, 2022, at 10:00 AM ET to discuss these results. Interested parties can access the call via a live webcast. Centerspace operates 83 apartment communities across six states, focusing on providing quality homes. For further information, visit www.centerspacehomes.com.
Centerspace (NYSE: CSR) announced a revised payable date for its regular quarterly distribution of $0.73 per share/unit, now set for October 11, 2022. This distribution will be available to common shareholders and unitholders of record as of September 30, 2022. The company manages 83 apartment communities with 14,838 homes across several states, including Colorado and Minnesota. Centerspace was recognized as a Top Workplace for 2022 by the Minneapolis Star Tribune.
Centerspace announced a quarterly distribution of $0.73 per share/unit, set to be paid on October 10, 2022, to shareholders recorded by September 30, 2022. Additionally, a distribution of $0.4140625 per share on the 6.625% Series C Preferred Shares will be paid on September 30, 2022, for holders recorded by September 15, 2022. The annual rate for Series C is $1.65625 per share. Centerspace operates 83 apartment communities across several states, emphasizing integrity and service.
Centerspace (NYSE: CSR) released its 2021 Environmental, Social, and Governance (ESG) Report, marking its third annual publication. The report emphasizes the company's dedication to sustainable practices within the multifamily sector, building on the insights from a 2020 materiality assessment. Centerspace initiated its participation in the GRESB framework for sustainability benchmarking in 2021. The company aims to enhance safety, well-being, and financial transparency. CEO Mark O. Decker, Jr. expressed commitment to continual improvement and operational stewardship of resources.
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