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Centerspace (CSR) stock

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NYSE: CSR NYSE Multi-Family Residential REITs Next results ~February 16, 2027

B Fundamentals grade

Centerspace is a US-listed company in the multi-family residential REITs industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$160

Valuation models combined (2)

Base case. Range ~$60–$220. Weighted average of 2 models (funds-from-operations model, dividend discount (growing dividend)), the funds-from-operations model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: only 2 valuation models apply; a rating needs 3.

Centerspace valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders2 buying, 0 selling2 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds106 adding, 103 cuttingOf 22 active managers that changed their stake, 11 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Centerspace files

10-Q filed November 2: Centerspace

Centerspace's revenue for the twelve months to September 2026 came in at $257m, a 6.0% decline on the prior year, a reversal from the 0.7% growth recorded a quarter earlier. Among the multi-family residential REITs we cover, that ranks the company last on growth, 9 of 9. Set against this, the diluted share count has fallen 7.9% year on year, which works in favour of remaining shareholders by lifting the claim on earnings per share. Our fundamentals grade for the company has improved, moving from C to B. On valuation, our combined model puts fair value at $164 a share, a significant premium to the current share price of $59.79.

Source: 10-Q filed November 2, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Centerspace stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $269m, up 0.7% on a year earlier, slower than the 3.1% growth a quarter earlier. The diluted share count is up 2.5% on a year earlier, which dilutes existing holders.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 16, 2027 (estimated)

Centerspace's trailing-twelve-month revenue fell 6.0% year on year, with a free-cash-flow margin of 89.2%. Where it stands out: operating margin of 56.1% ranks 1 of 7 multi-family residential reits companies we cover. Where it lags: revenue growth of -6.0% ranks 9 of 9 multi-family residential reits companies we cover.

Current signal Net income rising while operating cash flow falls: TTM net income grew 198.8% while operating cash flow fell 25.8% — earnings and cash are telling different stories.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • High operating margin. 56.1% of revenue is left as operating profit, against a median of 20.3% for multi-family residential reits companies we cover.
  • Margins widening. Operating margin is up 27.6 points on a year ago.
  • Strong cash generation. 89.2% of revenue turned into free cash flow.
  • Shrinking share count. Diluted shares fell 7.9% in a year, so each share owns more of the business.

Things to watch

  • Revenue shrinking. Revenue fell 6.0% over the last 12 months.
  • Growth slowing. The growth rate is 6.7 points lower than a quarter earlier.
  • High debt. Long-term debt exceeds cash by $0.7bn, more than 1.5 times annual revenue.
  • Heavily shorted. 10.3% of the shares available to trade are sold short (4.2 days of average volume to cover).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.

Latest results: FY2026 Q3

Filed November 2, 2026
Earnings per share
-$1.30 against an average estimate of -$0.10: missed by 1202.3%
Revenue
$60m, down 16.6% on a year earlier
Guidance given
net income per Share – diluted $6.42 to $6.82 (2026); same-Store Growth Revenue growth 0% to 1% (2026)
Next report
November 2, 2026; average EPS estimate -$0.10

Centerspace's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.2%
  • 1 week+3.9%
  • 1 month+8.6%
  • This year-7.6%
  • 1 year+5.2%
  • 5 years-25.0%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$257M
Operating margin
56.1%
Net margin
35.4%
EPS (TTM, diluted)
$5.66

Growth

Revenue growth
−6.0%
Change in growth rate
−6.7 pts
Share count change
−7.9%

Earnings

Last results
November 2, 2026
Next results (est.)
February 16, 2027

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Agreement
  3. Agreement
  4. Announcement
  5. Deal
  6. Announcement
  7. Results
  8. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Centerspace valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 2 valuation models apply; a rating needs 3.

Valuation models

We value Centerspace as an equity reit, with every model that fits that kind of business. Cost of equity 7.8%: the 10-year Treasury yield (4.9%) plus a beta of 0.63 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Funds-from-operations model Funds from operations growing 2.5% a year, discounted at 8%. ~$220 ~$180–$270 Primary model, counts double
Price-to-FFO vs peers Funds from operations per share times peers' typical (harmonic-mean) price-to-FFO. ~$4.1 ~$100–$200 Left out: out of range vs price (0.07x)
Dividend discount (growing dividend) Today's dividend growing 2.5% a year, discounted at the cost of equity. ~$60 ~$50–$74 Included
Combined value Weighted average of the models that apply: the primary model (funds-from-operations model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$160 ~$60–$220 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Centerspace with equity REITs in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

59 /100

Moderate moat

How hard Centerspace's competitive advantage looks for rivals to wear away, judged from 7 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median 1.5% of total assets over 7 years.

  • Pricing power 20 / 20

    Gross margin has been a median 96.5%, moving by 0.3 percentage points (standard deviation) across 7 years.

  • Durability 11 / 20

    Operating margin has been a median 31.5%; its worst year was 1.8%.

  • Cash conversion 18 / 20

    Free cash flow was positive in 5 of 6 years, at a median 32.9% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 23.1% over five years; stock-based pay has been a median 1.2% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.93 −191% $256m −7%
Next −$0.36 — $249m −3%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −14.1% on 90 days ago. In the last 30 days, 1 analyst raised Centerspace's forecast and 0 cut it.

Consensus EPS forecast Centerspace, last 90 days
−$1.50 −$1.00 −$0.50 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$1.08 Current fiscal year, 60 days ago: −$0.18 Current fiscal year, 30 days ago: −$0.93 Current fiscal year, 7 days ago: −$0.93 Current fiscal year, Now: −$0.93 −$0.93 Next fiscal year, 90 days ago: −$0.52 Next fiscal year, 60 days ago: −$0.36 Next fiscal year, 30 days ago: −$0.36 Next fiscal year, 7 days ago: −$0.36 Next fiscal year, Now: −$0.36 −$0.36

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$1.08−$0.52
60 days ago −$0.18−$0.36
30 days ago −$0.93−$0.36
7 days ago −$0.93−$0.36
Now −$0.93−$0.36

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 −$0.10 −$1.30 −1202.3%
Jun 2026 −$0.17 −$0.02 +87.7%
Mar 2026 −$0.33 −$0.63 −91.7%
Dec 2025 −$0.22 −$0.12 +46.7%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 3, 2026
  • Net income per Share – diluted 2026 $6.42 to $6.82 GAAP
    “Net income per Share - diluted $6.42 $6.82” source
  • Same-Store Growth Revenue 2026 0% growth to 1% growth
    “Revenue 0.00% 1.00%” source
  • Same-Store Growth Expenses 2026 1.5% growth to 2.5% growth
    “Expenses 1.50% 2.50%” source
  • Same-Store Growth NOI 2026 -1% growth to 0% growth Non-GAAP
    “NOI (1.00)% 0.00%” source
  • FFO per Share – diluted 2026 $4.37 to $4.50 Non-GAAP Lowered
    “FFO per Share - diluted $4.37 $4.50” source
  • Core FFO per Share – diluted 2026 $4.58 to $4.68 Non-GAAP Lowered
    “Core FFO per Share - diluted $4.58 $4.68” source
Show 4 more items
  • Same-store recurring capital expenditures per home 2026 $1,250 to $1,350
    “Same-store recurring capital expenditures of $1,250 per home to $1,350 per home” source
  • Value-add expenditures 2026 $3.5m to $6m
    “Value-add expenditures of $3.5 million to $6.0 million” source
  • Gross proceeds from dispositions 2026 $315m to $320m
    “Gross proceeds from dispositions of $315.0 million to $320.0 million” source
  • Potential special distributions to common shareholders and operating partnership unitholders 2026 $50m to $60m
    “Potential special distributions to common shareholders and operating partnership unitholders of $50.0 million to $60.0 million” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

9 analysts, Nov 2026
Buy333%
Hold667%
Sell00%

Monthly trend

  1. Nov 20262169
  2. Oct 20262169
  3. Sep 2026279

Counts of recommendations published by analysts covering Centerspace, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
10.3%
of tradable shares
Days to cover
4.19
at average volume
Short interest, 1 month
+29%
to October 15, 2026
Held by institutions
97%
of shares
Held by insiders
0.7%
of shares
Employees
334
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +5.2%

$56.23 on October 31, 2025 to $59.17

ThenNowEffect
Revenue (last 12 months) $267m $269m +0.7%
P/S multiple 3.5x 3.7x +7.1%
Share count 16m 17m −2.4%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +35.1%

$43.79 on November 3, 2023 to $59.17

ThenNowEffect
Revenue (last 12 months) $266m $269m +1.1%
Net margin 14.7% 8.0% −45.9%
P/E multiple 17.8x 46.4x +160.5%
Share count 16m 17m −5.2%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
CSR+62%−45%+4%+19%+6%−8%
Industry peers (median)+59%−33%+0%+19%−8%−4%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
CSR75%25%67%67%58%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
CSR−10%−46%−30%−14%−18%−23%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 53% from December 31, 2021 to October 27, 2023. Getting back needed a 115% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$51.67 – $67.02
From 52-week high
−11.7%
vs 50-day average
+7.3%
vs 200-day average
+1.7%
Volatility (1 year)
28%
Beta vs S&P 500
-0.01

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 6 down
typical move ±2.0%
After a week
4 up, 7 down
typical move ±2.3%
After a month
8 up, 3 down
typical move ±5.8%
Results releasedNext dayS&P 500 next day5 days21 days
August 3, 2026 −0.5% +3.3% +0.6% −4.5%
May 4, 2026 −4.3% +0.4% −0.7% −11.9%
February 17, 2026 −0.1% +0.7% −2.8% −6.2%
November 3, 2025 +1.9% −1.0% −0.9% +11.5%
August 4, 2025 −0.4% +1.0% −1.0% +8.6%
May 1, 2025 +1.8% +2.2% +0.3% +5.8%
February 18, 2025 +2.3% +0.5% +4.4% +2.7%
October 28, 2024 −1.8% +0.5% −2.6% +3.6%
July 29, 2024 −1.9% −0.4% −3.2% +5.8%
April 29, 2024 +4.1% −1.2% +7.4% +2.0%
February 20, 2024 +3.4% −0.5% −1.2% +1.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Centerspace in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Centerspace
$255M $260M $265M $270M $275M FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $261.3M Revenue (TTM), FY24 Q1: $257.9M Revenue (TTM), FY24 Q2: $258.2M Revenue (TTM), FY24 Q3: $258.6M Revenue (TTM), FY24 Q4: $261M Revenue (TTM), FY25 Q1: $263.6M Revenue (TTM), FY25 Q2: $267.1M Revenue (TTM), FY25 Q3: $273.5M Revenue (TTM), FY25 Q4: $273.7M Revenue (TTM), FY26 Q1: $271.6M Revenue (TTM), FY26 Q2: $268.9M Revenue (TTM), FY26 Q3: $257M $257M

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $261.3M
FY24 Q1 $257.9M
FY24 Q2 $258.2M
FY24 Q3 $258.6M
FY24 Q4 $261M
FY25 Q1 $263.6M
FY25 Q2 $267.1M
FY25 Q3 $273.5M
FY25 Q4 $273.7M
FY26 Q1 $271.6M
FY26 Q2 $268.9M
FY26 Q3 $257M
Revenue growth, TTM YoY Centerspace
-10% -5% 0% 5% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 1.8% Revenue growth, TTM YoY, FY24 Q1: -2.4% Revenue growth, TTM YoY, FY24 Q2: -2.9% Revenue growth, TTM YoY, FY24 Q3: -2.4% Revenue growth, TTM YoY, FY24 Q4: -0.1% Revenue growth, TTM YoY, FY25 Q1: 2.2% Revenue growth, TTM YoY, FY25 Q2: 3.4% Revenue growth, TTM YoY, FY25 Q3: 5.7% Revenue growth, TTM YoY, FY25 Q4: 4.9% Revenue growth, TTM YoY, FY26 Q1: 3.1% Revenue growth, TTM YoY, FY26 Q2: 0.7% Revenue growth, TTM YoY, FY26 Q3: -6.0% -6.0%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 1.8%
FY24 Q1 -2.4%
FY24 Q2 -2.9%
FY24 Q3 -2.4%
FY24 Q4 -0.1%
FY25 Q1 2.2%
FY25 Q2 3.4%
FY25 Q3 5.7%
FY25 Q4 4.9%
FY26 Q1 3.1%
FY26 Q2 0.7%
FY26 Q3 -6.0%
Operating margin (TTM) Centerspace
0% 20% 40% 60% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 32.3% Operating margin (TTM), FY24 Q1: 10.1% Operating margin (TTM), FY24 Q2: 10.5% Operating margin (TTM), FY24 Q3: 6.2% Operating margin (TTM), FY24 Q4: 7.8% Operating margin (TTM), FY25 Q1: 8.0% Operating margin (TTM), FY25 Q2: 2.7% Operating margin (TTM), FY25 Q3: 28.5% Operating margin (TTM), FY25 Q4: 23.6% Operating margin (TTM), FY26 Q1: 20.0% Operating margin (TTM), FY26 Q2: 26.0% Operating margin (TTM), FY26 Q3: 56.1% 56.1%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 32.3%
FY24 Q1 10.1%
FY24 Q2 10.5%
FY24 Q3 6.2%
FY24 Q4 7.8%
FY25 Q1 8.0%
FY25 Q2 2.7%
FY25 Q3 28.5%
FY25 Q4 23.6%
FY26 Q1 20.0%
FY26 Q2 26.0%
FY26 Q3 56.1%
FCF margin (TTM) Centerspace
-50% 0% 50% 100% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 34.3% FCF margin (TTM), FY24 Q1: 31.6% FCF margin (TTM), FY24 Q2: 31.3% FCF margin (TTM), FY24 Q3: 32.3% FCF margin (TTM), FY24 Q4: 15.9% FCF margin (TTM), FY25 Q1: 22.5% FCF margin (TTM), FY25 Q2: -27.5% FCF margin (TTM), FY25 Q3: -41.9% FCF margin (TTM), FY25 Q4: 21.7% FCF margin (TTM), FY26 Q1: 20.2% FCF margin (TTM), FY26 Q2: 72.1% FCF margin (TTM), FY26 Q3: 89.2% 89.2%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 34.3%
FY24 Q1 31.6%
FY24 Q2 31.3%
FY24 Q3 32.3%
FY24 Q4 15.9%
FY25 Q1 22.5%
FY25 Q2 -27.5%
FY25 Q3 -41.9%
FY25 Q4 21.7%
FY26 Q1 20.2%
FY26 Q2 72.1%
FY26 Q3 89.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-KT, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2012 Apr 2012 2013 Apr 2013 2014 Apr 2014 2015 Apr 2015 2016 Apr 2016 2017 Apr 2017 2018 Apr 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 3 26 81 89 146 160 170 186 178 202 257 261 261 274 257
Gross profit — — — — — — 164 180 172 193 247 252 252 264 248
EBITDA 132 149 80 89 65 16 60 184 110 123 120 188 128 179 249
Operating income 70 81 38 45 24 −30 −24 109 34 30 14 84 20 65 144
Net income 8 26 −13 24 72 43 117 79 4 −0 −14 41 −11 17 91
Diluted EPS $0.70 $1.70 −$2.30 $1.10 $49.10 $2.58 $8.71 $6.00 −$0.15 −$0.47 −$1.35 $2.32 −$1.27 $1.02 $5.66
Growth (year on year)
Revenue — +711.6% +207.9% +9.9% +63.7% +10.0% +6.0% +9.4% −4.2% +13.3% +27.3% +1.8% −0.1% +4.9% −6.0%
EBITDA — +12.9% −46.5% +11.5% −26.3% −75.5% +271.7% +209.6% −40.1% +11.4% −2.4% +56.3% −31.7% +39.9% +31.0%
Operating income — +16.4% −53.7% +19.6% −46.0% −224.1% — — −69.0% −11.7% −53.6% +509.3% −75.8% +215.2% +84.9%
Net income — +210.9% −151.6% — +198.9% −39.8% +169.4% −32.6% −94.4% −100.7% — — −127.4% — +198.8%
Diluted EPS — +142.9% −235.3% — +>999% −94.7% +237.6% −31.1% −102.5% — — — −154.7% — +224.3%
Margins
Gross margin — — — — — — 96.7% 96.7% 96.7% 95.7% 96.1% 96.4% 96.5% 96.5% 96.6%
EBITDA margin >999% 565.8% 98.3% 99.8% 44.9% 10.0% 35.1% 99.3% 62.0% 61.0% 46.8% 71.8% 49.1% 65.5% 96.9%
Operating margin >999% 308.6% 46.4% 50.5% 16.7% −18.8% −14.0% 58.7% 19.0% 14.8% 5.4% 32.3% 7.8% 23.6% 56.1%
Net margin 253.7% 97.2% −16.3% 27.1% 49.5% 27.1% 68.8% 42.4% 2.5% −0.0% −5.5% 15.8% −4.3% 6.2% 35.4%
Free-cash-flow margin 704.5% 195.8% 82.3% 104.5% 31.2% 23.7% 21.9% 26.2% 33.5% 41.0% 35.8% 34.3% 15.9% 23.5% 89.2%
Cash flow
Cash from operations 65 78 93 114 72 79 55 70 61 84 92 90 98 98 77
Capital spending 42 26 26 21 27 41 18 21 2 1 0 0 57 34 −152
Free cash flow 23 51 67 93 45 38 37 49 60 83 92 90 42 64 229
Stock-based pay 332 0 0 2 2 0 2 2 2 3 3 3 3 3 4
Free cash flow after stock pay −309 51 67 91 43 38 36 47 57 80 89 86 39 61 225
Balance sheet
Cash — — — — — — — 27 0 31 10 9 12 13 116
Total debt 1,088 1,059 1,020 657 — — 706 651 721 860 1,012 921 967 1,054 844
Net debt (negative = net cash) — — — — — — — 625 721 829 1,001 912 955 1,041 728
Diluted shares 10m 11m 13m 13m 14m 14m 13m 13m 13m 14m 15m 17m 16m 17m 16m
Returned to shareholders
Dividends 36 36 41 46 60 56 34 33 35 38 44 44 46 51 52
Buybacks 0 0 — — 35 5 10 18 0 0 29 12 5 3 —
Total returned 36 36 41 46 95 60 44 51 35 38 74 55 50 55 52

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Dividends, buybacks and capital spending

FY2025 Q4 TTM
Buybacks (TTM)
$3.5M
Dividends (TTM)
$51.6M
Returned to shareholders
92%
of free cash flow
Buybacks, last 3 fiscal years
$19.7M
Diluted share count
−7.9%
year over year
Total shareholder yield
5.5%
dividends 5.2% + buybacks 0.3% of market value
Dividend payout ratio
57%
of net income paid out

Competitors: side by side with peers

Closest by revenue in multi-family residential reits
Last 12 months unless stated CSR NXRT UMH CLPR BRT NEN Median
Revenue, last 12 months $257m $253m $279m $151m $98m $96m $257m
Revenue growth, last 12 months −6.0% −0.5% 8.5% −1.7% 1.2% 16.1% 1.2%
Revenue growth, 3-year average −1.0% −2.9% 9.4% 4.2% 2.6% 10.7% 2.6%
Revenue growth, latest quarter −16.6% 2.3% 10.8% −1.2% 1.1% 14.9% 1.1%
Gross margin 96.6% — 91.2% 22.8% — — 80.6%
Operating margin 56.1% 11.1% — 20.3% −12.6% 14.2% 23.4%
Operating margin, 3-year average 30.3% 27.2% — 17.3% −12.3% 24.7% 25.7%
Net margin 35.4% −13.2% 1.6% −8.4% −13.2% −7.3% 1.6%
Cash from operations / revenue 30.2% 32.9% 29.9% 16.9% 14.1% 18.0% 30.2%
Free-cash-flow margin 89.2% −4.9% −13.2% −4.5% −13.2% −14.3% −4.5%
Free-cash-flow margin, 3-year average 26.5% −5.4% −7.2% −2.4% −6.4% 8.9% 8.9%
Stock pay / revenue 1.6% 4.0% 1.7% 2.8% 2.4% — 1.7%
Change in share count −7.9% −1.5% 2.0% −0.0% 0.7% — −0.3%

Median of all 9 companies we cover in multi-family residential reits. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

9 multi-family residential reits companies
Measure Company Peer median Rank
Revenue growth Growth -6.0% 1.2% 9 of 9
Change in growth rate Growth -6.7pp -0.1pp 9 of 9
Operating margin Profitability 56.1% 20.3% 1 of 7
Net margin Profitability 35.4% 1.6% 1 of 9
Stock pay as % of revenue Cash generation 1.6% 1.6% 4 of 7
Long-term debt as % of assets Balance sheet 45.3% 86.4% 1 of 6
Change in share count Balance sheet -7.9% -0.0% 1 of 8

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$889M
Institutions reporting
216
Shares held vs prior quarter
▲ 2.8%
Positions opened / closed
27 / 34

Top buyers and sellers, Q2 2026: 106 institutions bought and 103 sold ; the biggest buyer was Voss Capital, LP (+429K shares) and the biggest seller Wellington Management Group LLP (−396K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $168M 3.0M 18.9% ▲ 2.7%
Vanguard Portfolio Management LLC $96.4M 1.7M 10.8% ▲ 2.4%
Voss Capital, LP $69.1M 1.2M 7.8% ▲ 53.5%
State Street Corp $54.3M 954K 6.1% ▲ 1.6%
Vanguard Capital Management LLC $41.8M 745K 4.7% ▲ 1.6%
Silvercrest Asset Management Group LLC $30.5M 543K 3.4% ▼ 9.7%
Geode Capital Management, LLC $26.8M 477K 3.0% ▲ 6.1%
Wellington Management Group LLP $26.8M 476K 3.0% ▼ 45.4%
Nomura Asset Management International Inc. $26.4M 470K 3.0% ▼ 1.4%
Charles Schwab Investment Management Inc $20.1M 357K 2.3% ▲ 3.4%
Alliancebernstein L.P. $19.3M 336K 2.2% ▲ 1594.1%
Hudson Bay Capital Management LP $18.8M 335K 2.1% New

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Centerspace's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $121,392 2 trades by 2 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $121,392 net buying
Insider Date Trade Shares Price Value
Jones-Tyson Rodney Director June 22, 2026 Buy 1,700 $55.26 $93,942
Schissel John A Director June 18, 2026 Buy 500 $54.90 $27,450

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around February 16, 2027 estimated from the company's past filing pattern, not announced

  • November 2, 2026
  • August 3, 2026
  • May 4, 2026
  • February 17, 2026
  • November 3, 2025
  • August 4, 2025

Recent SEC filings

Data status

When each part of this page on Centerspace was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Centerspace in brief

What does Centerspace do?
Centerspace is a US-listed company in the multi-family residential REITs industry. Its financial year ends in December.
What is Centerspace's stock ticker?
Centerspace trades under the ticker CSR on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Centerspace's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Centerspace reported revenue of $257M, 6.0% lower than a year earlier, according to its SEC filings.
What is Centerspace's free cash flow?
Centerspace's free-cash-flow margin is 89.2% of revenue over the trailing twelve months.
Who are Centerspace's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Voss Capital, LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Centerspace buying back stock, and does it pay a dividend?
Centerspace spent $3.5M on share repurchases over the trailing twelve months, and its diluted share count fell 7.9% over the year.
What is Centerspace's market cap?
On November 2, 2026, Centerspace's market capitalisation was about $952M, with a price-to-earnings ratio of 10.5 and net debt of $728M. Market figures come from third-party market data and may be delayed.
Does Centerspace pay a dividend?
Yes: Centerspace paid $51.6M in dividends over the trailing twelve months, a dividend yield of 5.19% and a payout ratio of 56.7%.
Who are Centerspace's competitors?
In our Multi-Family Residential REITs peer group, the companies closest to Centerspace are Nexpoint Residential Trust, Inc., UMH Properties, Inc., Clipper Realty Inc., BRT Apartments Corp. and NEW England Realty Associates Limited Partnership. The side-by-side comparison below sets their revenue, margins and growth against Centerspace's.
Are insiders buying or selling Centerspace stock?
Over the last 12 months, Centerspace's directors and officers reported 2 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is Centerspace's next earnings date?
Around February 16, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Centerspace announces its own schedule.