Centerspace Reports Third Quarter 2026 Financial & Operating Results
Centerspace reported Q3 2026 Core FFO of $1.11 per diluted share, down 6.7% from $1.19 a year ago, while GAAP net income surged to $7.28 per share on a $150.3 million gain from real estate sales. Same-store revenues were flat year over year, but same-store NOI fell 2.7% as operating expenses rose 4.2%, and the company disposed of 13 communities for $288.8 million during the quarter. The pending merger with Independence Realty Trust remains on track, with a special shareholder meeting scheduled for November 10, 2026; each CSR share will convert into 3.8 IRT shares.
Key figures
- Eps
- 7.28
- Guidance
- No 2026 guidance provided or affirmed in light of pending IRT merger
- Occupancy
- 95.0%
- Gain on sale
- $150.3 million
- Total liquidity
- $366.2 million
- Same store noi yoy
- -2.7%
- Core ffo yoy change
- -6.7%
- Ffo per share q3 2026
- 0.83
- Same store expense yoy
- 4.2%
- Same store revenue yoy
- 0%
- Core ffo per share q3 2025
- 1.19
- Core ffo per share q3 2026
- 1.11
- Net debt to adjusted ebitda
- 6.3x
AI analysis
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