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Centerspace (CSR)
NYSE:CSR
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Earnings Data
Report Date
Feb 25, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.19Last Year’s EPS
-$0.65Same Quarter Last Year
Based on 8 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 28, 2024
|% Change Since: -8.74%
|Next Earnings Date:Feb 25, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a positive tone with key achievements in earnings growth, strategic acquisitions, and operational efficiencies. However, challenges with market rent softening and the uncertainty around insurance renewals were noted.Company Guidance
During the Centerspace Q3 2024 earnings call, guidance was provided for various financial metrics and operational updates. The company reported core FFO of $1.18 per share for the third quarter, with same-store revenue increasing by 3% year-over-year. Occupancy improved to 95.3%, a 70 basis point increase from the previous year. They raised the midpoint of their full-year core FFO guidance by $0.01 to $4.86 per share. The company also discussed the acquisition of the Lydian in Denver, expected to generate an NOI yield in the mid- to high 5% range. On the expense side, same-store expenses were up by 3.2% year-over-year, but controllable expenses grew only 80 basis points, reflecting savings from leveraging technology. Centerspace also highlighted its strong resident retention rate of over 58% and maintained a sustainable rent-to-income level of 23%. The company issued approximately 1.5 million shares, raising $105 million to improve its balance sheet. Looking forward, Centerspace expects same-store NOI growth to remain at 3.5%, with revenue growth projected between 3% to 3.5% for the year.Earnings Growth
Centerspace reported earnings of $1.18 per share of core FFO for Q3 2024, with stable revenue growth and effective expense control.
Same-Store Revenue Increase
Same-store revenue increased by 3% compared to Q3 2023, with occupancy rising to 95.3%, a 70 basis point improvement year-over-year.
Denver Market Expansion
Acquisition of The Lydian property in Denver, adding 129 homes and commercial space, funded at attractive terms with expected NOI yield in the mid-to-high 5% range.
Elevated Resident Retention
Resident retention remained high at over 58%, supporting occupancy and blended leasing spreads.
Balance Sheet Strengthening
Raised $105 million through ATM, redeemed Series C preferred shares, and improved cash flow and leverage profile.
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CSR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CSR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 28, 2024 | $70.95 | $69.11 | -2.59% |
| Jul 29, 2024 | $68.87 | $68.30 | -0.83% |
| Apr 29, 2024 | $63.34 | $65.81 | +3.90% |
| Feb 20, 2024 | $53.90 | $56.00 | +3.90% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Centerspace (CSR) report earnings?
Centerspace (CSR) is schdueled to report earning on Feb 25, 2025, TBA Not Confirmed.
What is Centerspace (CSR) earnings time?
Centerspace (CSR) earnings time is at Feb 25, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CSR EPS forecast?
CSR EPS forecast for the fiscal quarter 2024 (Q4) is -$0.19.
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