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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.

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CMS Energy has announced a quarterly dividend declaration for its 4.200% Cumulative Redeemable Perpetual Preferred Stock, Series C. The company will pay $0.2625 per depositary share on January 15, 2025, to shareholders recorded as of January 1, 2025. The dividend applies to the NYSE: CMS PRC shares. CMS Energy, listed on NYSE as CMS, operates primarily through its Consumers Energy business and maintains independent power generation operations in Michigan.

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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.

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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.

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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 (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 declares regular quarterly distribution of $0.73 per share/unit and $0.4140625 per share on Series C preferred shares.
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Centerspace's Board of Trustees declares regular quarterly distribution of $0.73 per share/unit payable on July 10, 2023. Also declares distribution of $0.4140625 per share on Series C Cumulative Redeemable Preferred Shares payable on June 30, 2023.
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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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FAQ

What is Centerspace?

Centerspace is an owner and operator of apartment communities, focusing on providing great homes with integrity and community service.

Where are Centerspace's apartment communities located?

Centerspace's apartment communities are located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota.

What recent financial achievements has Centerspace reported?

Centerspace reported $234.6 million in total liquidity as of December 31, 2023, and solid performance metrics such as Net Income, FFO, and Core FFO.

What recent projects has Centerspace undertaken?

Centerspace has entered definitive purchase and sale agreements for two communities expected to generate $18.9 million and repurchased 87,722 common shares for $4.7 million.

What is the recent dividend announcement from Centerspace?

Centerspace announced a quarterly distribution of $0.75 per share/unit payable on April 8, 2024, and a $0.4140625 per share distribution on their Series C Cumulative Redeemable Preferred Shares.

How does Centerspace support diversity and inclusion?

Centerspace was named the National Apartment Association's Leading Organization in Diversity, Equity, and Inclusion in 2022.

How can I get more financial information about Centerspace?

Supplemental financial and operating data are available on Centerspace's website at www.centerspacehomes.com or by calling Investor Relations at 701-837-7104.

What guidance has Centerspace provided for 2024?

Centerspace has provided a positive financial outlook for 2024, supported by detailed guidance and assumptions in their supplemental financial data.

Who can I contact for investor relations at Centerspace?

For investor relations, contact Josh Klaetsch at 701-837-7104 or email IR@centerspacehomes.com.

What risks do the forward-looking statements by Centerspace entail?

Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ significantly from expectations. These risks are detailed in Centerspace's filings with the SEC.

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