CSR
Centerspace
About: Centerspace is a real estate investment trust (REIT) that focuses on the ownership, management, acquisitions, redevelopment, and development of apartment communities. The company operates through a single reportable segment which includes the ownership, management, development, redevelopment, and acquisition of apartment communities and conduct their corporate operations from offices in Minot, North Dakota and Minneapolis, Minnesota.
Employees: 404
0
Funds holding %
of 7,290 funds
0
Analysts bullish %
of 3 analysts
Fund manager confidence
Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)
68% more repeat investments, than reductions
Existing positions increased: 84 | Existing positions reduced: 50
25% more call options, than puts
Call options by funds: $165K | Put options by funds: $132K
22% more first-time investments, than exits
New positions opened: 22 | Existing positions closed: 18
1% more funds holding
Funds holding: 191 [Q3] → 192 (+1) [Q4]
5% less capital invested
Capital invested by funds: $960M [Q3] → $916M (-$43.8M) [Q4]
5.53% less ownership
Funds ownership: 89.33% [Q3] → 83.8% (-5.53%) [Q4]
Research analyst outlook
3 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$72
12%
upside
Avg. target
$72
13%
upside
High target
$73
14%
upside
3 analyst ratings
2 positive
67%
1 neutral
33%
0 negative
0%
RBC Capital Brad Heffern 51% 1-year accuracy 18 / 35 met price target | 14%upside $73 | Outperform Maintained | 20 Feb 2025 |
Janney Montgomery Scott Robert Stevenson 75% 1-year accuracy 3 / 4 met price target | 12%upside $72 | Buy Upgraded | 15 Jan 2025 |
Wedbush Richard Anderson 62% 1-year accuracy 21 / 34 met price target | 12%upside $72 | Neutral Initiated | 17 Dec 2024 |
Financial journalist opinion
Based on 5 articles about CSR published over the past 30 days
Negative
Seeking Alpha
19 hours ago
Bad Vibes, Positive Results
US equity markets slumped this week - while benchmark interest rates tumbled to two-month lows - after downbeat economic data and cautious corporate commentary sparked concern over slowing economic growth. Compounded by some unsettling COVID-related headlines late in the week, investors adopted a more "risk off" position after consumer and business survey data picked up a sudden negative sentiment shift. After notching a pair of record-highs early in the week, a two-day tumble sent the S&P 500 lower by 1.6% on the week. Small-Caps and Mid-Caps both dipped over 3%.
Neutral
Seeking Alpha
4 days ago
Centerspace (CSR) Q4 2024 Earnings Call Transcript
Centerspace (NYSE:CSR ) Q4 2024 Earnings Conference Call February 19, 2025 10:00 AM ET Company Participants Josh Klaetsch - Investor Relations Anne Olson - President and Chief Executive Officer Grant Campbell - Senior Vice President, Investments and Capital Markets Bhairav Patel - Chief Financial Officer Conference Call Participants Brad Heffern - RBC Capital John Kim - BMO Rob Stevenson - Janney Montgomery Rich Anderson - Wedbush Michael Gorman - BTIG Mason Guell - Baird Operator Hello, everyone, and welcome to the Centerspace Q4 2024 Earnings Call. My name is Ezra, and I will be your coordinator today.
Positive
Zacks Investment Research
5 days ago
Centerspace (CSR) Q4 FFO and Revenues Beat Estimates
Centerspace (CSR) came out with quarterly funds from operations (FFO) of $1.21 per share, beating the Zacks Consensus Estimate of $1.18 per share. This compares to FFO of $1.22 per share a year ago.
Neutral
PRNewsWire
5 days ago
Centerspace Announces Financial and Operating Results for the Year Ended December 31, 2024 and Provides 2025 Financial Outlook
MINNEAPOLIS , Feb. 18, 2025 /PRNewswire/ -- Centerspace (NYSE: CSR) announced today its financial and operating results for the year ended December 31, 2024. The tables below show Net Income (Loss), Funds from Operations ("FFO")1, and Core FFO1, all on a per diluted share basis, for the year ended December 31, 2024; Same-Store Revenues, Expenses, and Net Operating Income ("NOI")1 over comparable periods; and Same-Store Weighted Average Occupancy, Lease Rate Growth, and Resident Retention for the three months ended December 31, 2024, September 30, 2024, and December 31, 2023 and the twelve months ended December 31, 2024 and 2023.
Neutral
PRNewsWire
3 weeks ago
CENTERSPACE ANNOUNCES FOURTH QUARTER 2024 EARNINGS RELEASE DATE
MINNEAPOLIS , Jan. 27, 2025 /PRNewswire/ -- Centerspace (NYSE: CSR) will release its operating results for the quarter ended December 31, 2024, after the market closes on Tuesday, February 18, 2025. Management will host a conference call to discuss those results on the following day, Wednesday, February 19, 2025, at 10:00 a.m.
Neutral
PRNewsWire
1 month ago
CENTERSPACE ANNOUNCES 2024 DIVIDEND ALLOCATIONS
MINNEAPOLIS , Jan. 23, 2025 /PRNewswire/ -- Centerspace (NYSE: CSR) announced today the tax treatment (Form 1099-DIV) for calendar year 2024 distributions on its common and preferred shares of beneficial interest. Shareholders are encouraged to consult with their personal tax advisors as to the specific tax treatment of their Centerspace distributions.
Positive
Seeking Alpha
1 month ago
Centerspace: Midwestern Apartments At A Discount
Centerspace is a Midwest-focused apartment REIT trading at a discount to peers, with strong near-term AFFO/share growth prospects not priced in. CSR's clever acquisition strategy, including using OP units, allows for accretive purchases in growth markets, enhancing long-term performance. The Midwest's stable rental market and CSR's significant presence in Minneapolis and Denver contribute to its outperformance in same-store NOI growth.
Positive
Seeking Alpha
1 month ago
Apartment Rents Are Too Low
Apartment rental rates are significantly below equilibrium due to oversupply from zero interest rate policies, with rents expected to rise 10%-20% by 2027. Investment opportunities in apartment REITs are promising; current low valuations present a buying opportunity as equilibrium is restored and rents increase. Coastal, Midwestern, and Sunbelt apartment REITs, as well as Canadian REIT BSR, offer varied prospects based on regional supply/demand dynamics and management capabilities.
Neutral
Seeking Alpha
1 month ago
Sector Spotlight: Multifamily REITs - They Survived Until 2025!
COVID-19 led to a migration to Sunbelt cities, causing a surge in apartment rents and subsequent overbuilding, which is now stabilizing. Multifamily REITs saw a decline in valuations but are now modestly valued with a P/AFFO multiple averaging 18.3x, higher than the broader REIT market. Despite suppressed rent growth and occupancy, strong job markets and reduced new supply suggest the potential for landlords to regain pricing power.
Positive
Seeking Alpha
2 months ago
Centerspace: Attractively Valued Despite Signs Of Moderating Growth
Centerspace manages 13,014 apartments with a focus on Minnesota, Colorado, and North Dakota. Q3 2024 per share results were impacted by a capital increase to fund the redemption of the Series C preferred shares. Only 4% of all debt is variable rate, indicating limited benefits from Fed rate cuts.
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