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Centerspace - CSR STOCK NEWS

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 distinguished real estate investment trust (REIT) that specializes in the ownership, management, acquisition, development, and redevelopment of apartment communities. Founded in 1970, Centerspace continues to expand its presence throughout the Midwest, providing high-quality apartment homes to thousands of residents from Denver, CO to Minneapolis, MN, and the states in between.

Operating from its corporate offices in Minot, North Dakota and Minneapolis, Minnesota, the company is dedicated to creating better living experiences by focusing on integrity and exceptional customer service. Centerspace's mission is to provide a great home not only for its residents but also for its team members and investors, capturing the essence of their motto, #bettereverydays.

As of the latest reports, Centerspace owns 70 apartment communities, comprising 12,883 homes across Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota. In recent news, Centerspace has revised its 2024 financial outlook upwards, reflecting strong financial health and optimistic future growth.

Centerspace was recently recognized by the Minneapolis Star Tribune as a Top Workplace for the fourth consecutive year in 2023, highlighting its commitment to fostering a positive work environment. Additionally, the company was named the National Apartment Association's Leading Organization in Diversity, Equity, and Inclusion in 2022, underscoring its dedication to inclusive practices.

The company's financial condition remains robust, with significant liquidity and minimal debt maturing through 2025. Centerspace reported $228.3 million in total liquidity at the end of Q1 2024, consisting of $215.6 million available under lines of credit and cash equivalents of $12.7 million.

Centerspace continues to strategically enhance its portfolio. Notably, the company has entered the Fort Collins, CO market with the acquisition of Lake Vista Apartment Homes and has exited the Minot, ND market, reallocating resources to areas with promising long-term prospects.

Investors and stakeholders can find detailed financial data and updates on the company's performance in the Supplemental Operating and Financial Data available on Centerspace's website or by contacting Investor Relations.

News

CENTERSPACE ANNOUNCES FIRST QUARTER 2024 EARNINGS RELEASE DATE

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Centerspace (CSR) to Announce Q1 2024 Operating Results; Conference Call Scheduled for April 30, 2024
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Centerspace Announces Financial and Operating Results for the Year Ended December 31, 2023, Provides 2024 Financial Outlook and Dividend Increase

Rhea-AI Summary
Centerspace (NYSE: CSR) reported its financial and operating results for the year ended December 31, 2023, showing an increase in Net Income, Funds from Operations, and Core FFO per diluted share. The company saw growth in Same-Store Revenues, Expenses, and Net Operating Income over comparable periods, with a rise in Same-Store Weighted Average Occupancy. Centerspace also highlighted acquisitions, sales, share repurchases, liquidity, subsequent events, dividend distributions, and provided a financial outlook for 2024.
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CENTERSPACE APPOINTS OLA OYINSAN HIXON TO BOARD OF TRUSTEES

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Centerspace (NYSE: CSR) appointed Ola Oyinsan Hixon to its Board of Trustees on January 23, 2024. Hixon, an executive director at PGIM Real Estate, brings extensive portfolio and asset management experience within the real estate space, including with companies like KKR & Co. and The Blackstone Group. She holds a bachelor's degree in business administration from The Stephen M. Ross School of Business at the University of Michigan and a master's degree in business administration from The Wharton School of the University of Pennsylvania. Hixon serves on ULI's Multifamily Gold Council and is a member of Real Estate Executive Council (REEC), as well as a board member of the non-profit City Parks Foundation. Centerspace President and CEO Anne Olson expressed excitement about Hixon's appointment, highlighting her valuable insights as the company scales and positions itself in the coming years.
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CENTERSPACE ANNOUNCES 2023 DIVIDEND ALLOCATIONS

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Centerspace (NYSE: CSR) released the tax treatment (Form 1099-DIV) for calendar year 2023 distributions on its common and preferred shares of beneficial interest. Shareholders are advised to consult with their personal tax advisors for specific tax treatment. The common shares had a cash distribution per share of $0.73, with $0.2077306 as ordinary taxable dividend and $0.3561495 as long-term capital gain. The preferred shares had a cash distribution per share of $0.4140625, with $0.2120513 as ordinary taxable dividend and $0.2020112 as long-term capital gain.
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CENTERSPACE ANNOUNCES FOURTH QUARTER 2023 EARNINGS RELEASE DATE

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Centerspace (NYSE: CSR) will release its operating results for the year ended December 31, 2023, on February 20, 2024, followed by a conference call on February 21, 2024. Interested parties can access the call via webcast or phone. The company's stock symbol is CSR.
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CENTERSPACE ANNOUNCES QUARTERLY DIVIDEND

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Centerspace (NYSE: CSR) announced a regular quarterly distribution of $0.73 per share/unit to common shareholders and unitholders, payable on January 12, 2024. Additionally, a distribution of $0.4140625 per share on the 6.625% Series C Cumulative Redeemable Preferred Shares (NYSE: CSR PRC) was declared, payable on December 29, 2023.
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Centerspace Reports Third Quarter 2023 Financial Results and Raises Mid-Point for 2023 Core FFO Guidance

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Centerspace (NYSE: CSR) announced its financial and operating results for the three and nine months ended September 30, 2023. Net income increased to $0.41 per diluted share for Q3 2023, compared to a net loss of $0.14 per diluted share for Q3 2022. Core FFO per diluted share increased 4.3% to $1.20 for Q3 2023. Same-store revenues increased by 5.7% for Q3 2023 compared to Q3 2022, driving a 5.4% increase in NOI compared to the same period of the prior year. Centerspace narrowed its 2023 financial outlook ranges for net income per diluted share and FFO per diluted share and raised the mid-point for Core FFO per diluted share.
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CENTERSPACE ANNOUNCES ENTRANCE INTO FORT COLLINS MARKET

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Centerspace enters Fort Collins market and exits Minot market through recent transactions.
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CENTERSPACE ANNOUNCES DATES FOR THE EARNINGS RELEASE AND CONFERENCE CALL FOR THE THIRD QUARTER OF 2023

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Centerspace to release Q3 2023 operating results
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CENTERSPACE ANNOUNCES QUARTERLY DIVIDEND

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Centerspace declares regular quarterly distribution of $0.73 per share/unit and $0.4140625 per share on Series C preferred shares.
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FAQ

What is the current stock price of Centerspace (CSR)?

The current stock price of Centerspace (CSR) is $72.55 as of November 20, 2024.

What is the market cap of Centerspace (CSR)?

The market cap of Centerspace (CSR) is approximately 1.2B.

What is Centerspace?

Centerspace is a real estate investment trust (REIT) specializing in the ownership, management, acquisition, development, and redevelopment of apartment communities.

Where does Centerspace operate?

Centerspace operates in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota, with corporate offices in Minot, ND, and Minneapolis, MN.

What is Centerspace's mission?

Centerspace aims to provide great homes for residents, team members, and investors by focusing on integrity and exceptional customer service.

How financially stable is Centerspace?

Centerspace is financially robust, with significant liquidity and minimal debt maturing through 2025. It reported $228.3 million in total liquidity at the end of Q1 2024.

What recent acquisitions has Centerspace made?

Centerspace recently acquired Lake Vista Apartment Homes in Loveland, CO, marking its entry into the Fort Collins market.

Has Centerspace sold any properties recently?

Yes, Centerspace has exited the Minot, ND market by selling four apartment communities and associated commercial spaces.

What awards has Centerspace received?

Centerspace has been named a Top Workplace by the Minneapolis Star Tribune for four consecutive years and was recognized by the National Apartment Association for Diversity, Equity, and Inclusion in 2022.

Where can I find detailed financial information about Centerspace?

Detailed financial data and updates are available in the Supplemental Operating and Financial Data section on Centerspace's website or by contacting Investor Relations.

What is Centerspace's current stock symbol?

Centerspace is listed on the New York Stock Exchange under the ticker symbol CSR.

How can I contact Centerspace's Investor Relations?

You can contact Centerspace's Investor Relations by emailing IR@centerspacehomes.com or calling 701-837-7104.

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Centerspace

NYSE:CSR

CSR Rankings

#2378 Ranked by Market Cap
#724 Ranked by Dividends

CSR Stock Data

1.21B
16.41M
0.95%
84.06%
1.52%
REIT - Residential
Real Estate Investment Trusts
Link
United States of America
MINOT