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) 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.
Centerspace (NYSE: CSR) reported its Q2 2022 financial results, showing a net loss of $0.30 per diluted share, compared to a net income of $1.48 per share in Q2 2021. Core FFO rose by 14.3% to $1.12 per diluted share. Same-store revenues increased 11.7% year-over-year, contributing to an 11.5% rise in NOI. Centerspace revised its 2022 outlook, adjusting the net loss guidance to a range of $0.31 to $0.14 and increasing the same-store NOI growth guidance to 10.0% to 12.0%. As of June 30, the company held $196.2 million in liquidity.
Centerspace (NYSE: CSR) will report its operating results for the quarter ending June 30, 2022, after market close on August 1, 2022. A conference call to discuss these results is scheduled for August 2, 2022, at 10:00 AM ET. Interested parties can access the call via a live webcast. Centerspace operates 83 apartment communities, providing 14,838 homes across several states, including Colorado and Minnesota. The company was recognized as a Top Workplace for 2022 by the Minneapolis Star Tribune.
Centerspace's Board of Trustees has declared a regular quarterly distribution of $0.73 per share/unit, payable on July 11, 2022 to shareholders and unitholders of record by June 30, 2022. Additionally, a distribution of $0.4140625 per share has been announced for the 6.625% Series C Cumulative Redeemable Preferred Shares, payable on June 30, 2022 to holders of record by June 15, 2022. The Series C preferred shares have an annual rate of $1.65625. Centerspace operates 83 apartment communities across several states, emphasizing integrity and service.
Centerspace (NYSE: CSR) released its Q1 2022 financial results, reporting a net loss of $(0.68) per diluted share, an increase from $(0.49) in Q1 2021. However, Core FFO rose 3.2% to $0.98 per diluted share. Same-store revenues grew by 8.6%, while new lease rates increased to 6.9%. The company acquired properties totaling 397 homes for $114.5 million. Total liquidity was $223.3 million. Centerspace revised its 2022 financial outlook, affirming its Core FFO guidance with expectations for FFO per share between $4.26 and $4.52.
Centerspace (NYSE: CSR) will release its operating results for Q1 2022 on May 2, 2022, post-market close. A conference call to discuss these results is scheduled for May 3, 2022, at 10:00 AM ET. Investors can access the live call via webcast at ir.centerspacehomes.com. The call will also be available for replay until May 17, 2022. Centerspace manages 84 apartment communities across six states, focusing on providing quality homes and was recognized as a Top Workplace in 2021.
Centerspace (NYSE: CSR) reported a net loss of $(0.47) per diluted share for 2021, compared to a loss of $(0.15) in 2020. Core Funds from Operations (FFO) increased by 5.8% to $3.99 per share. Same-store revenues grew by 4.8%, influenced by a 5.1% rise in rental income, though occupancy declined by 0.3%. The company strategically acquired 17 communities for a total of $499.8 million. A regular quarterly dividend of $0.73 per share is set for April 11, 2022. As of December 31, 2021, Centerspace had $204.8 million in total liquidity.
Centerspace (NYSE: CSR) will release its operating results for the year ended December 31, 2021, on February 28, 2022, after market close. A conference call to discuss these results is scheduled for March 1, 2022, at 10:00 AM ET. The call will be accessible via a live webcast. Centerspace operates 84 apartment communities across several states and was recognized as a Top Workplace for 2021. For more details, visit their website or contact Emily Miller in Investor Relations.
Centerspace (NYSE: CSR) has acquired Noko Apartments in Minneapolis for $46.4 million. The deal includes a $29.9 million construction loan at 4.5% interest and a $13.5 million mezzanine loan at 11.5%. Noko, completed in 2021, features 130 homes and is strategically located near Lake Nokomis, enhancing walkability and access to amenities. Centerspace's acquisition aligns with its strategy to improve portfolio quality while increasing distributable cash flow and core FFO, according to President and CEO Mark O. Decker Jr.
Centerspace (NYSE: CSR) announced the tax treatment for 2021 distributions on its common and preferred shares. Shareholders are advised to consult their tax advisors regarding these distributions. Key details include:
- Common Shares: $0.70000 distribution per share
- Series C Preferred Shares: $0.4140625 distribution per share
The cash distributions were payable on varying dates throughout 2021 and included ordinary taxable distributions and returns of capital. Centerspace operates 83 apartment communities across the Midwest.
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