Welcome to our dedicated page for Centerspace SEC filings (Ticker: CSR), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
This page provides access to U.S. Securities and Exchange Commission (SEC) filings for Centerspace (NYSE: CSR), a North Dakota–incorporated real estate investment trust (REIT) focused on apartment communities. As a public company with Commission File Number 001-35624, Centerspace submits periodic and current reports that disclose financial, operational, and corporate information relevant to investors and other stakeholders.
Among the key documents available are current reports on Form 8-K, which Centerspace uses to furnish earnings releases, investor presentations, and information about portfolio transactions. Recent Form 8-K filings have referenced financial and operating results for specific periods, investor presentations containing year-to-date operating information, and press releases related to the disposition of apartment communities. These filings help explain how the company’s multifamily portfolio and financial metrics are evolving.
Investors can also review quarterly and annual reports (Forms 10-Q and 10-K when available) to see detailed discussions of Net Income or Net Loss, Funds from Operations (FFO), Core FFO, Net Operating Income (NOI), same-store performance, and other measures that Centerspace highlights in its public communications. The company notes that FFO, Core FFO, and NOI are non-GAAP financial measures and provides reconciliations to comparable GAAP measures within its supplemental financial and operating data.
In addition, this filings page can surface regulation FD disclosures, strategic updates, and other material events that Centerspace reports through the SEC. Stock Titan’s tools can assist by summarizing lengthy filings, highlighting key sections, and helping readers interpret the significance of items such as earnings-related disclosures, portfolio dispositions, or investor presentations. Together, these filings form an official record of Centerspace’s regulatory reporting as a publicly traded apartment REIT.
Centerspace furnished an investor presentation with its 2025 results and 2026 outlook. For 2025, diluted FFO per share was $4.74 and Core FFO was $4.93. For 2026, the company guides diluted FFO per share to $4.61–$4.89 and Core FFO to $4.81–$5.05, with same-store revenue, NOI and expense growth midpoints of 0.9%, 0.8%, and 1.5%, respectively.
The presentation highlights ownership of 12,262 apartments and a total capitalization of $2.4 billion. Centerspace executed about $493 million of 2025 transactions, including acquisitions in Salt Lake City and Fort Collins and dispositions in Minnesota, to upgrade asset quality and concentrate in Midwest and Mountain West markets.
Leverage metrics show year-end 2025 net debt of $1.04 billion and net debt to annualized adjusted EBITDA of 7.6x, with a diversified capital base and a weighted average debt maturity of 6.9 years. Management emphasizes stable market fundamentals, favorable rent-to-income ratios, and an improving supply-demand backdrop across its key regions.
Centerspace files its annual report describing a multifamily REIT focused on owning, operating, acquiring, developing, and redeveloping apartment communities, primarily in the Midwest and Mountain West. As of December 31, 2025, it owned 61 communities with 12,262 homes and real estate investments of $1.9 billion, and operated through an UPREIT structure.
The company outlines a strategy centered on operational improvements, disciplined capital allocation, ESG initiatives, and selective acquisitions in markets such as Minneapolis–St. Paul, Denver, Boulder/Fort Collins, and Salt Lake City. It highlights multiple funding sources, including an at-the-market equity program with $262.9 million of capacity remaining, unsecured credit facilities, unsecured senior notes, and Fannie Mae financing, resulting in a total indebtedness-to-gross real estate investment ratio of 41.8% as of year-end 2025. Centerspace emphasizes its REIT distribution practices, human capital investments for 349 employees, and extensive risk disclosures, including a Board-initiated strategic alternatives review that may consider a sale, merger, or other business combinations alongside its independent strategy.
Centerspace reported a return to profitability in 2025 and issued its 2026 outlook. Net income was $22.96 million, or $1.02 per diluted share, compared with a net loss of $14.19 million, or $(1.27) per share, in 2024. Core FFO per diluted share inched up to $4.93 from $4.88, while total NOI rose 6.1% to $167.4 million, driven by a 3.5% increase in same-store NOI on 2.4% revenue growth and tightly controlled expenses.
The company reshaped its portfolio, acquiring two communities for $281.2 million (including $76.5 million of assumed mortgage debt) and selling twelve non-core communities plus one office building for $215.5 million. At December 31, 2025, liquidity totaled $267.9 million, including $255.1 million of undrawn credit capacity and $12.8 million of cash. Centerspace’s board maintained an annualized common distribution of $3.08 per share/unit and has an ongoing strategic review of alternatives with no set timetable.
For 2026, management guides to diluted net income per share between $(0.49) and $(0.19), FFO per diluted share of $4.61–$4.89, and Core FFO per diluted share of $4.81–$5.05, implying relatively stable cash earnings alongside modest same-store NOI growth expectations.
Silvercrest Asset Management Group LLC and related entities filed an amended Schedule 13G reporting their ownership in Centerspace. They report beneficial ownership of 645,477 common shares of beneficial interest, representing 3.86% of the class as of December 31, 2025.
The filing shows Silvercrest has no sole voting or dispositive power, but shares voting and dispositive power over all 645,477 shares. The reporting persons certify the position is held in the ordinary course of business and not for the purpose of changing or influencing control of Centerspace.
Wellington Management Group LLP and related entities have disclosed a significant ownership stake in Centerspace common stock. As of 12/31/2025, they report beneficial ownership of 855,861 Centerspace common shares, held for the accounts of investment-advisory clients.
The filing shows no sole voting or dispositive power, with all authority shared across the Wellington complex. Wellington certifies the shares were acquired and are held in the ordinary course of business, not to change or influence control of Centerspace.
Centerspace executive vice president and CFO Bhairav Patel reported equity compensation activity in the company’s common shares of beneficial interest. On February 2, 2026, he acquired 620 shares at $0 upon vesting of a performance share award tied to total shareholder return versus the FTSE Nareit Equity Index.
The award, originally granted on January 1, 2023, paid out at 183.20% of target, or 5,444 shares, after the company’s estimated return reached the 70.8 percentile of the benchmark over the 2023–2025 measurement period. Of this, 4,824 shares were issued on December 26, 2025 and the remaining 620 on February 2, 2026.
Also on February 2, 2026, 202 shares were withheld at a price of $63.83 to cover taxes related to the vesting. After these transactions, Patel directly owned 7,868 Centerspace shares.
Centerspace President, CEO & Secretary Anne Olson reported equity transactions tied to a performance share award. On February 2, 2026, she received 1,050 common shares of beneficial interest at $0 as the final 10% of a 2023–2025 TSR-based performance award, bringing total payout to 9,227 shares. For this award, the Company’s estimated total shareholder return ranked at the 70.8 percentile versus the FTSE Nareit Equity Index, resulting in a 183.20% of target payout. Also on February 2, 322 shares were withheld at a price of $63.83 per share to cover taxes on vesting. After these transactions, Olson directly owned 27,609 Centerspace common shares of beneficial interest.
Centerspace executive reports new equity award. A Form 4 filing for Centerspace (CSR) discloses that an officer serving as EVP and CFO received a grant of 4,895 restricted stock units. The award has a conversion price of $0 per unit and relates to common shares of beneficial interest. According to the filing, this represents a time-based contingent right to receive 4,895 common shares, vesting over three years in one-third increments on each anniversary of the grant date on January 1, 2027, 2028 and 2029. Following this transaction, the reporting person beneficially owns 4,895 derivative securities directly.
Centerspace reported an equity award to its President, CEO and Secretary, Anne Olson, in the form of restricted stock units. On 01/01/2026, she acquired 13,437 restricted stock units at an exercise price of $0, each tied to a future issuance of one common share of beneficial interest.
The award is time-based and vests in three equal annual installments. One third of the 13,437 units is scheduled to vest on each anniversary of the grant date, specifically on January 1, 2027, 2028 and 2029. The units are reported as directly owned derivative securities and are a form of stock-based compensation rather than an open-market purchase.
Centerspace President, CEO and Secretary Anne Olson reported several equity award transactions dated December 26, 2025. Restricted stock units covering 1,008, 3,378, and 2,938 common shares of beneficial interest were exercised at $0 per share as their vesting was accelerated from January 1, 2026 to December 26, 2025.
Olson also received 8,177 common shares from a performance share award granted January 1, 2023, based on the company’s total shareholder return versus the FTSE Nareit Equity Index, which paid out at 180.4% of target after the company’s estimated TSR reached the 70th percentile. To cover taxes on these vestings, 3,835 and 4,281 shares were withheld at $67.21 per share. After these transactions, Olson directly owned 26,881 Centerspace common shares.