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Centerspace (NYSE: CSR) is a well-established owner and operator of apartment communities, rooted in a commitment to providing quality homes through integrity and community service. Founded in 1970, the company owns and operates 72 apartment communities encompassing 13,088 homes across Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota. Centerspace prides itself on diversity, equity, and inclusion, having been recognized as the National Apartment Association's Leading Organization in these areas in 2022.
As of December 31, 2023, Centerspace demonstrated a robust financial standing with $234.6 million in total liquidity, including $226.0 million available on its lines of credit. The company's recent financial results for the year ending December 31, 2023, indicated positive performance metrics such as Net Income, Funds from Operations (FFO), and Core FFO on a per diluted share basis.
Centerspace's ongoing projects reflect its dynamic growth and strategic planning. The company has entered definitive purchase and sale agreements for two communities expected to generate gross proceeds of $18.9 million. Furthermore, they have repurchased 87,722 common shares for $4.7 million at an average price of $53.62 per share, illustrating a strategic approach to capital allocation.
The company's Board of Trustees has approved a quarterly distribution of $0.75 per share/unit, which marks a $0.02 increase from the prior distribution, payable on April 8, 2024. Additionally, a distribution of $0.4140625 per share on the 6.625% Series C Cumulative Redeemable Preferred Shares has been declared, emphasizing the company's consistent return to shareholders.
For the year 2024, Centerspace has outlined a positive financial outlook, supported by detailed guidance and assumptions provided in their Supplemental Financial and Operating Data available on their investor relations webpage.
For further information, the full earnings release, including non-GAAP financial measures and other capitalized terms, can be accessed via Centerspace's website at www.centerspacehomes.com or through Investor Relations at 701-837-7104.
CMS Energy's Board of Directors has declared a quarterly dividend of $0.2625 per depositary share on its 4.200% Cumulative Redeemable Perpetual Preferred Stock, Series C. The dividend is payable on October 15, 2024, to shareholders of record as of October 1, 2024. The stock trades under the ticker CMS PRC on the NYSE. CMS Energy, headquartered in Michigan, primarily operates through its Consumers Energy business and also manages independent power generation ventures. Investors can find additional dividend information, including tax status, on the company's website at cmsenergy.com.
Centerspace (NYSE: CSR) announced a quarterly dividend of $0.75 per share for common shareholders, payable on July 10, 2024, to those on record as of June 28, 2024. Additionally, the Board declared a distribution of $0.4140625 per share for its 6.625% Series C Cumulative Redeemable Preferred Shares (NYSE: CSR PRC), payable on June 28, 2024, to holders on record as of June 14, 2024. Series C distributions are cumulative and paid quarterly at an annual rate of $1.65625 per share. Centerspace owns 70 apartment communities across 6 states and emphasizes integrity and service. The company was recognized for diversity, equity, and inclusion in 2022.
Centerspace (NYSE: CSR) has declared a quarterly distribution of $0.73 per share, payable on April 10, 2023, to shareholders of record by March 31, 2023. Additionally, a distribution of $0.4140625 per share on the 6.625% Series C Cumulative Redeemable Preferred Shares (CSR.PRC) will be paid on March 31, 2023, to holders on record by March 15, 2023. This reflects Centerspace's commitment to returning income to shareholders while managing its growing portfolio of 84 apartment communities across six states.
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