Centerspace

CSR

Market cap $1.08B

REITs (MSCI US REIT Index, RMZ) are positioned for multi-year outperformance, with accelerating AFFO growth, healthy balance sheets, and discounted valuations. Despite underperformance versus the S&P 500, REITs offer a credible path to 13-15% annualized total returns via multiple expansion and a 4% dividend yield. Wide NAV discounts create near-term catalysts, as managements deploy asset sales, cost controls, and strategic alternatives to close valuation gaps.

Centerspace is upgraded to Buy, reflecting improved risk-reward, a solid dividend, and strategic review potential. CSR's latest report showed 4.5% same-store NOI growth and 95.8% occupancy, while keeping a sustainable 4.63% dividend yield and significant buybacks program. The board's ongoing strategic review, including a possible sale or merger, provides downside protection and optionality.

REITs trade at large discounts to their net asset values. They are increasingly becoming targets for activists and private equity. I discuss 3 REITs that are likely buyout targets.

MINNEAPOLIS , Dec. 1, 2025 /PRNewswire/ -- Centerspace (NYSE: CSR) announced today that its Board of Trustees has declared a regular quarterly distribution of $0.77 per share/unit, payable on January 12, 2026, to common shareholders and unitholders of record at the close of business on December 30, 2025. About Centerspace  Centerspace is an owner and operator of apartment communities committed to providing great homes by focusing on integrity and serving others.

U.S. equity markets stumbled this week as unexpectedly hawkish Fed commentary clashed with fragile risk sentiment, muting investor relief over the deal to end the longest-ever government shutdown. December rate cut odds dipped below 50% after Fed officials firmly pushed back on rate-cut expectations, citing uneven inflation progress, pockets of financial-market froth, and the economic-data blackout. The S&P 500 finished flat, but hawkish commentary sparked renewed pressure on smaller-cap and rate-sensitive market segments, with the Mid-Cap 400 and Small-Cap 600 dipping 1%.

Over 200 U.S. REITs and homebuilders have reported third-quarter earnings results over the past five weeks, providing critical information on the state of the commercial and residential real estate industry. Overall, REIT earnings results were marginally better than consensus expectations despite a handful of high-profile flops that overshadowed some impressive individual results across a balanced mix of sectors. Two-thirds of the sector (67 REITs) raised their full-year FFO outlook—above the historical average of 65%. Notable winners included Industrial, Senior Housing, Data Center, Retail, and Billboard REITs.

MINNEAPOLIS , Nov. 11, 2025 /PRNewswire/ -- Centerspace (NYSE: CSR) today confirmed that earlier this fall its Board of Trustees initiated a review of the Company's strategic alternatives. With the support of its independent financial and legal advisors, the Board will consider a wide range of options including, among other things, a sale, merger and other business combinations, as well as continuing to execute on its independent business strategy.

Centerspace ( CSR ) Q3 2025 Earnings Call November 4, 2025 10:00 AM EST Company Participants Joshua Klaetsch - Head of Investor Relations Anne Olson - President, CEO, Secretary & Executive Trustee Grant Campbell - Senior Vice President of Investments & Capital Markets Bhairav Patel - Executive VP & CFO Conference Call Participants Brad Heffern - RBC Capital Markets, Research Division Robin Haneland - BMO Capital Markets Equity Research James Feldman - Wells Fargo Securities, LLC, Research Division Connor Mitchell - Piper Sandler & Co., Research Division Robert Stevenson - Janney Montgomery Scott LLC, Research Division Ami Probandt - UBS Investment Bank, Research Division Richard Anderson - Cantor Fitzgerald & Co., Research Division Mason P. Guell - Robert W.

Centerspace (CSR) came out with quarterly funds from operations (FFO) of $1.19 per share, missing the Zacks Consensus Estimate of $1.22 per share. This compares to FFO of $1.18 per share a year ago.

MINNEAPOLIS , Nov. 3, 2025 /PRNewswire/ -- Centerspace (NYSE: CSR) (the "Company") announced today its financial and operating results for the three and nine months ended September 30, 2025. The tables below show Net Income (Loss), Funds from Operations ("FFO")1, and Core FFO1, all on a per diluted share basis, for the three and nine months ended September 30, 2025; 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 each of the three months ended September 30, 2025, June 30, 2025, and September 30, 2024 and the nine months ended September 30, 2025 and 2024.