Centerspace Earnings Reports

Centerspace reported a Q2 2025 net loss of $0.87 per share but improved Core FFO to $1.28 per share. Same-store NOI rose by 2.9% and weighted average occupancy improved to 96.1%. The company also expanded its portfolio with new acquisitions.

Centerspace experienced revenue growth in the first quarter of 2025, primarily driven by increased same-store and non-same-store community revenues. Despite this growth, the company reported a net loss per diluted share, though it improved compared to the prior year. The increase in operating expenses, particularly real estate taxes and general and administrative costs, partially offset the revenue gains.

Centerspace announced a net loss of $5.079 million for Q4 2024, with diluted EPS at -$0.31. Total revenues for the quarter were $66.409 million. The company's Core FFO per diluted share was $1.21 for the quarter.

Centerspace reported a net loss of $0.40 per diluted share for the third quarter of 2024, compared to a net income of $0.41 per diluted share for the same period of the prior year. Same-store revenues increased by 3.0%, driving a 2.8% increase in same-store NOI.

Centerspace reported a net loss of $0.19 per diluted share for Q2 2024. Same-store revenues increased by 3.4%, driving a 2.4% increase in same-store NOI compared to the same period of the prior year. The company raised the mid-point and narrowed the 2024 financial outlook ranges for net loss per diluted share, FFO per diluted share and Core FFO per diluted share.

Centerspace reported a net loss of $0.37 per diluted share for Q1 2024, but Core FFO per diluted share increased by 15.0% to $1.23. Same-store revenues also increased by 3.5%, leading to a 7.5% increase in same-store NOI. The company successfully executed the sale of two non-core apartment communities in Minnesota for $19.0 million.

Centerspace reported a net loss of $9.764 million, or $(0.65) per diluted share, for Q4 2023. However, the company's same-store NOI grew by 7.6% compared to the same period last year.

Centerspace reported increased net income and core FFO per diluted share for Q3 2023 compared to Q3 2022. Same-store revenues also increased, driving NOI growth. The company successfully executed the sale of four non-core apartment communities and revised its 2023 financial outlook.

Centerspace reported a net loss of $0.23 per diluted share for Q2 2023, while Core FFO per diluted share increased by 14.3% to $1.28. Same-store revenues increased by 8.5%, driving a 12.1% increase in NOI. The company also increased its 2023 financial outlook ranges for net income per diluted share, FFO per diluted share, and Core FFO per diluted share.

Centerspace reported a net income of $2.76 per diluted share for Q1 2023, a significant increase compared to the net loss of $0.68 per diluted share in Q1 2022. Core FFO per diluted share also increased by 9.2% to $1.07. Same-store revenues grew by 10.5%, driving an 11.0% increase in NOI.

Centerspace reported a net loss per share for Q4 2022, but demonstrated growth in key areas such as same-store revenues and Net Operating Income (NOI). The company also provided its financial outlook for 2023, including projections for net income, FFO, and Core FFO.

Centerspace reported a net loss of $0.14 per diluted share for Q3 2022, an improvement compared to the $0.79 loss in Q3 2021. Core FFO per diluted share increased by 17.3% to $1.15. Same-store revenues grew by 11.1%, driving an 11.4% increase in NOI. The company revised its 2022 financial outlook, with a net loss per share guidance of $0.50 to $0.41 and a Core FFO guidance range of $4.42 to $4.50 per diluted share.

Centerspace reported a net loss of $0.30 per diluted share for Q2 2022, while Core FFO increased by 14.3% to $1.12 per diluted share. Same-store revenues increased by 11.7%, driving an 11.5% increase in NOI compared to the same period last year. The company revised its 2022 financial outlook, increasing guidance for net loss per share and same-store NOI growth.

Centerspace reported a net loss of $(0.68) per diluted share for Q1 2022, compared to a net loss of $(0.49) per diluted share for the same period in 2021. However, Core FFO increased by 3.2% to $0.98 per diluted share. Same-store revenues also increased by 8.6% compared to the first quarter of 2021.

Centerspace reported a net loss of $(0.47) per diluted share for the year ended December 31, 2021. Core FFO increased to $3.99 per diluted share, and same-store revenue increased by 4.8%.

Centerspace reported a net loss of $(0.81) per diluted share for Q3 2021, but Core FFO increased by 4.3% to $0.98 per diluted share. Same-store revenues also increased by 6.2% compared to the same period in 2020.

Centerspace reported a strong second quarter with a Net Income of $1.48 per diluted share and Core FFO increasing 7.7% to $0.98 per diluted share. Same-store revenues also increased by 3.2%.

Centerspace reports a net loss of $(0.49) per diluted share for Q1 2021, compared to a net loss of $(0.69) per diluted share for the same period in 2020. Core FFO increased by 5.6% to $0.95 per diluted share. The company acquired Union Pointe, a 256-home apartment community in Longmont, Colorado for $76.9 million.

Centerspace reported a net loss of $(0.15) per diluted share for the year ended December 31, 2020, compared to net income of $6.00 per diluted share for the year ended December 31, 2019. Core FFO increased to $3.78 per diluted share compared to $3.72 for the year ended December 31, 2019. Same-store revenue increased 2.1% driven by 1.7% growth in rental revenue and 0.4% increase in occupancy.

IRET reported a Net Income of $1.38 per diluted share for Q3 2020, with Core FFO increasing 3.3% to $0.94 per diluted share. Total collections were 98.8% of expected residential revenue, and physical occupancy for same-store communities was 95.3%. The company acquired Parkhouse Apartment Homes for $144.8 million and disposed of four apartment communities and a commercial property for $43.0 million.

IRET reported a net loss of $(0.44) per diluted share for Q2 2020, with same-store NOI increasing by 1.1% compared to the same period in 2019.

IRET reported a net loss of $0.67 per diluted share, while Core FFO increased by 16.9% to $0.90 per diluted share. Same-store revenues and NOI also increased by 3.9% and 3.8%, respectively, compared to the same quarter in 2019. The company acquired Ironwood Apartments for $46.3 million and withdrew its 2020 financial outlook due to COVID-19.

Centerspace reported a strong Q4 2019, highlighted by earnings per share of $3.89 and Core FFO per share of $0.96. The company's strategic focus on key growth markets and efficient expense management contributed to positive results, including a 2.8% increase in same-store revenue.