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Centerspace

CSR · Real Estate

Last earnings Sep 9, 2026

Key results

Same-store revenuequarter

2.7%

Same-store revenues increased by 2.7% for the second quarter of 2025 compared to the second quarter of 2024, driving a 2.9% increase in same-store NOI compared to the same period of the prior year Net loss was $0.87 per diluted share for the second quarter of 2025

SEC original ↗Centerspace — Earnings release (8-K exhibit)EX-99Aug 4, 2025

AI analysis

Q2 2025 · reported Aug 4, 2025

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Headline figures

MetricQ2 2025Prior qtrYear ago
Same-store revenue2.7%——

EX-99 · Aug 4, 2025

Guidance · company-stated

Net loss

“per Share diluted $(0.71) $(0.45) $2.50 $2.76”

Revenue

“1.50% 3.50% 2.00%”

capital expenditures

“of $1,150”

Guidance stated in the release's Business Outlook table for 2025; no direction stated — figures as stated in the table.

Next earningsNo verified date on fileNo date is estimated or imported

Capital allocation

Same-Store revenue$2.50

Previous Outlook for 2025 Updated Outlook for 2025 Low High Low High Net loss per Share diluted $(0.71) $(0.45) $2.50 $2.76 Same-Store Revenue 1.50% 3.50% 2.00% 3.00% Same-Store Expenses 2.00% 4.00% 1.00% 2.50% Same-Store NOI 1.25% 3.25% 2.50% 3.50% FFO per Share diluted $4.73 $4.97 $4.70 $4.83 Core FFO per Share diluted $4.86 $5.10 $4.88 $5.00 Additional assumptions Same-store recurring capital expenditures of $1,150 per home to $1,200 per home Value-add expenditures of $16.0 million to $18.0 million Proceeds from dispositions of $210.0 million to $230.0 million Note FFO, Core FFO.

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

Earnings Release Centerspace Reports Second Quarter 2025 Financial Operating Results and Updates 2025 Financial Outlook

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Guidance & outlook

Net loss: “Net loss per Share diluted $(0.71) $(0.45) $2.50 $2.76”

Revenue: “Revenue 1.50% 3.50% 2.00%”

capital expenditures: “capital expenditures of $1,150”

Net loss (“2025”)
“Net loss per Share diluted $(0.71) $(0.45) $2.50 $2.76”

Revenue (“2025”)
“Revenue 1.50% 3.50% 2.00%”

capital expenditures (“2025”)
“capital expenditures of $1,150”

Guidance stated in the release's Business Outlook table for 2025; no direction stated — figures as stated in the table.

Capital allocation

Previous Outlook for 2025 Updated Outlook for 2025 Low High Low High Net loss per Share diluted $(0.71) $(0.45) $2.50 $2.76 Same-Store Revenue 1.50% 3.50% 2.00% 3.00% Same-Store Expenses 2.00% 4.00% 1.00% 2.50% Same-Store NOI 1.25% 3.25% 2.50% 3.50% FFO per Share diluted $4.73 $4.97 $4.70 $4.83 Core FFO per Share diluted $4.86 $5.10 $4.88 $5.00 Additional assumptions Same-store recurring capital expenditures of $1,150 per home to $1,200 per home Value-add expenditures of $16.0 million to $18.0 million Proceeds from dispositions of $210.0 million to $230.0 million Note FFO, Core FFO.

SEC original ↗Centerspace — Earnings release (8-K exhibit)EX-99Aug 4, 2025

Subsequent Events On July 29, 2025, Centerspace closed on the acquisition of Railway Flats a 420 home apartment community located in Loveland, CO, for $132.2 million which includes the assumption of $76.5 million mortgage debt.

SEC original ↗Centerspace — Earnings release (8-K exhibit)EX-99Aug 4, 2025

(2) Total debt to total market capitalization is a non-GAAP financial measure.

SEC original ↗Centerspace — Earnings release (8-K exhibit)EX-99Aug 4, 2025

(2) Includes value-add and excludes acquisition and other capital expenditures on same-store communities.

SEC original ↗Centerspace — Earnings release (8-K exhibit)EX-99Aug 4, 2025

Other capital expenditures includes casualty and other non-routine capital items including, but not limited to, tenant improvements, real estate special assessments, and capital expenditures incurred to dispose of properties.

SEC original ↗Centerspace — Earnings release (8-K exhibit)EX-99Aug 4, 2025

Adjusted EBITDA Adjusted EBITDA is earnings before interest, taxes, depreciation, amortization, gain loss on sale of real estate and other investments, impairment of real estate investments, gain loss on extinguishment of debt, gain loss from involuntary conversion and other non-routine items or items not considered core to business operations.

SEC original ↗Centerspace — Earnings release (8-K exhibit)EX-99Aug 4, 2025

Strategy & priorities

2 About Centerspace Centerspace is an owner and operator of apartment communities committed to providing great homes by focusing on integrity and serving others.

SEC original ↗Centerspace — Earnings release (8-K exhibit)EX-99Aug 4, 2025

7 Table of Contents CENTERSPACE AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited) June 30, 2026 NOTE 1 ORGANIZATION Centerspace, collectively with its consolidated subsidiaries ( Centerspace, the Company, we, us, or our ), is a North Dakota real estate investment trust ( REIT ) focused on the ownership, management, acquisition, redevelopment, and development of apartment communities.

SEC original ↗Centerspace — 10-Q Quarterly report10-QAug 3, 2026

Disposals representing a strategic shift in operations (e.

SEC original ↗Centerspace — 10-Q Quarterly report10-QAug 3, 2026

The loan is secured by a pledge of and first priority security interest against 100 % of the membership interests in the mezzanine borrower and the agreement provides the Company with an option to purchase the development at a discount to future appraised value.

SEC original ↗Centerspace — 10-Q Quarterly report10-QAug 3, 2026

Risks & headwinds

These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements to be materially different from the results of operations, financial conditions, or plans expressed or implied by the forward-looking statements.

SEC original ↗Centerspace — Earnings release (8-K exhibit)EX-99Aug 4, 2025

As a result, reliance should not be placed on these forward-looking statements, as these statements are subject to known and unknown risks, uncertainties, and other factors beyond the Company's control and could differ materially from actual results and performance.

SEC original ↗Centerspace — Earnings release (8-K exhibit)EX-99Aug 4, 2025

Such risks and uncertainties are detailed from time to time in filings with the Securities and Exchange Commission ( SEC ), including the Management s Discussion and Analysis of Financial Condition and Results of Operations and Risk Factors contained in the Company s Annual Report on Form 10-K for the year ended December 31, 2024, in its subsequent quarterly reports on Form 10-Q, and in other reports the Company files with the SEC from time to time.

SEC original ↗Centerspace — Earnings release (8-K exhibit)EX-99Aug 4, 2025

Centerspace believes that NOI is an important supplemental measure of operating performance for real estate because it provides a measure of operations that is unaffected by sales of real estate and other investments, impairment, depreciation, amortization, financing costs, property management expenses, casualty losses, loss on litigation settlement, and general and administrative expenses.

SEC original ↗Centerspace — Earnings release (8-K exhibit)EX-99Aug 4, 2025

The Company believes that NOI is an important supplemental measure of operating performance for real estate because it provides a measure of operations that excludes gain (loss) on the sale of real estate and other investments, impairment, depreciation and amortization, financing costs, property management expenses, casualty gains or losses, loss on litigation settlement, and general and administrative expenses.

SEC original ↗Centerspace — Earnings release (8-K exhibit)EX-99Aug 4, 2025

Legal Proceedings 40 Item 1A.

SEC original ↗Centerspace — 10-Q Quarterly report10-QAug 3, 2026

Documents

Earnings deck slides

0 decks with slide view

Centerspace — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Centerspace — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Centerspace — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Centerspace — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Centerspace — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Centerspace — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Centerspace — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Competitors

Competitors & peers

Same GICS sector — classification peers, not declared competitors

KE Holdings (BEKE) Real EstateInvitation Homes (INVH) Real EstateEquinix (EQIX) Real EstateAlexandria Real Estate Equities (ARE) Real EstateIron Mountain (IRM) Real EstateVici Properties (VICI) Real EstateMid-America Apartment Communities (MAA) Real EstateVivmark Residential (VMRK) Real Estate

Filings

35 documents

Earnings releases

10 documents

Presentations

7 documents

Transcripts

0 documents

No transcripts for Centerspace are held in this edition of the library.

Mentioned by

5 companies

Other tracked companies whose held documents mention Centerspace by name or ticker. A mention is counted once per document, from the document text the library holds.

See also the earnings calendar for every tracked company’s next earnings date.