NYSE : CSR

Centerspace — Financial statements

Real Estate · REIT - Residential · United States

Last price 58.73 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 1.04B

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Financial statements

Income statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Rental Revenue268.87M273.66M260.98M261.31M256.72M201.71M
Total Revenue268.87M273.66M260.98M261.31M256.72M201.71M
Property Expenses109.42M112.91M109.07M111.97M115.33M88.11M
Selling, General & Administrative26.63M23.92M20.36M20.04M20.72M18.71M
Depreciation & Amortization110.05M113.23M106.45M101.68M105.26M92.17M
Total Operating Expenses246.10M250.06M235.89M233.68M241.31M198.99M
Operating Income22.77M23.60M25.10M27.63M15.41M2.72M
Interest Expense-45.62M-44.88M-37.28M-36.43M-32.75M-31.99M
Interest & Investment Income2.31M2.25M1.55M1.21M1.25M
Other Non-Operating Income1.22M1.13M1.04M
EBT Excluding Unusual Items-19.32M-17.91M-9.59M-7.59M-16.09M-29.27M
Gain (Loss) on Sale of Assets79.74M79.47M-577.00K71.24M41.00K27.52M
Asset Writedown-32.88M-37.72M-5.22M
Total Legal Settlements-3.86M
Other Unusual Items53.00K-878.00K-4.02M-5.34M-1.59M-344.00K
Pretax Income27.83M22.96M-14.19M49.23M-17.64M-2.10M
Earnings From Continuing Operations27.83M22.96M-14.19M49.23M-17.64M-2.10M
Net Income to Company27.83M22.96M-14.19M49.23M-17.64M-2.10M
Minority Interest in Earnings-6.11M-5.38M3.50M-7.27M4.17M2.71M
Net Income21.72M17.59M-10.69M41.97M-13.47M611.00K
Preferred Dividends & Other Adjustments361.00K486.00K8.97M7.07M7.07M7.07M
Net Income to Common21.36M17.10M-19.66M34.90M-20.54M-6.46M
Basic Shares Outstanding16.76M16.73M15.50M14.99M15.22M13.80M
Diluted Shares Outstanding16.80M16.77M15.50M17.12M15.22M13.80M
EPS (Basic)1.271.02-1.272.33-1.35-0.47
EPS (Diluted)1.271.02-1.272.32-1.35-0.47
Dividend Per Share3.083.083.002.922.922.84
Operating Margin8.47%8.62%9.62%10.57%6.00%1.35%
Profit Margin7.95%6.25%-7.53%13.36%-8.00%-3.20%
EBITDA132.82M136.83M131.55M129.31M120.67M95.83M
EBITDA Margin49.40%50.00%50.40%49.48%47.00%47.51%
D&A For Ebitda110.05M113.23M106.45M101.68M105.26M93.11M
EBIT22.77M23.60M25.10M27.63M15.41M2.72M
EBIT Margin8.47%8.62%9.62%10.57%6.00%1.35%
Funds From Operations (FFO)90.31M93.37M83.31M77.29M79.93M54.92M
FFO Per Share4.594.744.494.274.323.54
Adjusted Funds From Operations (AFFO)93.37M83.31M77.29M79.93M54.92M
AFFO Per Share4.714.464.234.293.50
FFO Payout Ratio57.12%54.70%54.96%56.59%55.63%70.07%

Balance sheet

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Property, Plant & Equipment1.66B1.86B1.86B1.89B2.00B1.83B
Total Real Estate Assets1.66B1.86B1.86B1.89B2.00B1.83B
Cash & Equivalents8.56M12.83M12.03M8.63M10.46M31.27M
Accounts Receivable2.17M792.00K614.00K773.00K1.01M
Investment In Debt and Equity Securities3.70M
Goodwill316.00K491.00K491.00K866.00K866.00K
Other Intangible Assets2.02M1.98M2.72M2.11M7.37M
Loans Receivable Current22.61M26.39M25.09M7.04M5.87M6.21M
Restricted Cash1.88M2.82M1.10M639.00K1.43M7.36M
Other Current Assets135.11M7.17M8.27M7.83M6.52M9.69M
Deferred Long-Term Charges2.32M2.02M862.00K1.47M2.06M
Other Long-Term Assets12.68M5.71M4.63M5.29M1.95M
Total Assets1.84B1.93B1.91B1.93B2.03B1.94B
Current Portion of Long-Term Debt2.67M57.43M5.70M
Long-Term Debt986.91M963.73M955.38M916.02M1.01B856.05M
Accounts Payable51.37M59.25M59.32M62.75M58.81M56.70M
Other Long-Term Liabilities1.46M
Total Liabilities1.04B1.08B1.01B978.78M1.07B918.45M
Preferred Stock, Redeemable93.53M93.53M93.53M
Preferred Stock, Convertible5.94M5.94M16.56M16.56M16.56M25.33M
Total Preferred Equity5.94M5.94M16.56M110.09M110.09M118.86M
Common Stock1.37B1.37B1.37B1.17B1.18B1.16B
Distributions in Excess of Earnings-689.53M-649.68M-615.24M-548.27M-539.42M-474.32M
Comprehensive Income & Other-407.00K-1.12M-2.06M-4.43M
Total Common Equity680.22M719.16M751.99M616.30M636.01M678.50M
Minority Interest111.79M120.66M130.46M221.19M220.76M224.25M
Shareholders' Equity797.95M845.76M899.00M947.59M966.86M1.02B
Total Liabilities & Equity1.84B1.93B1.91B1.93B2.03B1.94B
Total Debt989.58M1.02B955.38M916.02M1.01B861.75M
Net Cash (Debt)-981.02M-1.01B-943.36M-907.39M-997.17M-830.48M
Net Cash Per Share-58.38-60.11-60.85-53.01-65.53-60.17
Filing Date Shares Outstanding16.79M16.77M16.73M14.91M15.03M15.04M
Total Common Shares Outstanding16.79M16.76M16.72M14.96M15.02M15.02M
Book Value Per Share40.5142.9144.9841.1942.3445.19
Tangible Book Value680.22M716.83M749.52M613.09M633.03M670.27M
Tangible Book Value Per Share40.5142.7744.8340.9742.1544.64
Land222.28M
Buildings2.30B

Cash flow statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Net Income21.72M17.59M-10.69M41.97M-13.47M611.00K
Depreciation & Amortization110.05M113.23M106.45M101.68M105.26M93.11M
Other Amortization1.44M1.41M1.20M1.49M951.00K
Gain (Loss) on Sale of Assets-79.74M-79.47M577.00K-71.24M-41.00K-27.52M
Gain (Loss) on Sale of Investments407.00K407.00K712.00K936.00K-118.00K
Asset Writedown32.88M37.72M5.22M
Stock-Based Compensation3.92M3.44M3.01M3.29M2.62M2.69M
Change in Accounts Payable-3.37M245.00K1.44M-2.11M650.00K15.75M
Change in Other Net Operating Assets-5.61M-5.62M-4.90M-760.00K-645.00K-5.40M
Other Operating Activities8.99M8.32M-504.00K8.70M-4.56M4.79M
Operating Cash Flow91.89M98.45M98.25M89.52M91.99M84.03M
Acquisition of Real Estate Assets-88.52M-240.41M-57.68M-101.05M-161.23M-306.13M
Sale of Real Estate Assets241.76M212.24M18.25M223.26M41.00K61.33M
Net Sale / Acq. of Real Estate Assets153.25M-28.18M-39.43M122.21M-161.19M-244.80M
Other Investing Activities1.29M1.31M2.27M-420.00K1.10M-3.81M
Investing Cash Flow154.53M-26.87M-50.72M120.21M-160.09M-267.23M
Long-Term Debt Issued455.19M130.54M225.10M291.39M629.85M
Total Debt Issued324.83M455.19M130.54M225.10M291.39M629.85M
Long-Term Debt Repaid-444.40M-124.04M-365.35M-183.32M-516.73M
Total Debt Repaid-501.48M-444.40M-124.04M-365.35M-183.32M-516.73M
Net Debt Issued (Repaid)-176.64M10.79M6.50M-140.25M108.07M113.12M
Issuance of Common Stock112.07M31.44M156.04M
Repurchase of Common Stock-7.57M-4.63M-4.70M-11.54M-29.06M
Preferred Share Repurchases-5.37M-10.62M-97.04M
Common Dividends Paid-51.58M-51.08M-45.79M-43.74M-44.46M-38.49M
Preferred Dividends Paid-281.00K-486.00K-5.46M-7.07M-7.07M-7.07M
Total Dividends Paid-51.87M-51.56M-51.25M-50.81M-51.53M-45.55M
Other Financing Activities-12.73M-13.04M-9.25M-9.75M-17.55M-9.09M
Net Cash Flow-7.75M2.52M3.86M-2.62M-26.73M31.32M
Levered Free Cash Flow106.25M101.42M80.48M104.12M109.77M90.04M
Unlevered Free Cash Flow133.32M128.06M102.58M125.40M129.29M110.03M
Cash Interest Paid43.61M40.69M33.54M34.18M31.27M26.53M
Change in Working Capital-8.97M-5.37M-3.46M-2.87M5.00K10.35M

Ratios

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Market Capitalization1.05B1.11B1.10B876.06M884.10M1.58B
Enterprise Value2.04B2.38B2.24B2.02B2.17B2.76B
Last Close Price58.4464.0460.4550.7648.6488.37
Price/FFO Ratio12.0713.5113.4611.8911.2624.96
Price/AFFO Ratio13.5913.5612.0011.3525.27
PE Ratio46.8365.1725.10
PS Ratio3.824.074.203.353.447.85
PB Ratio1.441.321.220.930.911.55
P/OCF Ratio11.1911.3211.169.799.6118.85
EV/Sales Ratio7.478.718.577.748.4413.67
EV/EBITDA Ratio15.1217.4217.0015.6417.9628.78
EV/EBIT Ratio88.22101.0189.0973.18140.601,014.56
Debt / Equity Ratio1.241.211.060.971.040.84
Debt / EBITDA Ratio7.457.467.267.088.358.99
Net Debt / Equity Ratio1.231.191.050.961.030.81
Net Debt / EBITDA Ratio7.397.377.177.028.268.67
Asset Turnover0.140.140.140.130.130.12
Quick Ratio0.160.130.220.150.190.52
Current Ratio3.110.440.800.390.430.89
Return on Equity (ROE)3.39%2.63%-1.54%5.14%-1.77%-0.25%
Return on Assets (ROA)0.74%0.77%0.82%0.87%0.48%0.10%
Earnings Yield2.14%1.58%-0.97%4.79%-1.52%0.04%
Dividend Yield5.16%4.63%4.58%4.99%4.96%2.69%
Payout Ratio241.70%293.18%121.08%7,455.81%
Buyback Yield / Dilution-2.48%-8.20%9.43%-12.50%-10.24%-9.86%
Total Shareholder Return2.81%-3.57%14.00%-7.51%-5.28%-7.17%