CENTERSPACE (CSR) Form 8-K — Nov 2, 2026
Centerspace reported Q3 2026 results with diluted net income of $7.28 per share, boosted by a $150.3 million gain on sale, while Core FFO fell 6.7% year over year to $1.11 per diluted share. Same-store revenues were flat but same-store NOI declined 2.7% as expenses rose 4.2%, and effective new lease rate growth was negative at -1.9%. The company sold 13 apartment communities in Q3 for $288.8 million, bringing 2026 dispositions to $318.8 million, fully repaid its line of credit, and cut net debt to Adjusted EBITDA to 6.3x, with total liquidity of $366.2 million.
Key figures
- Eps
- 7.28
- Revenue
- 59515000
- Net Income
- 143647000
- Total Debt
- 843819000
- Revenue Yoy
- -16.6%
- Cash Position
- 116235000
- Shares Outstanding
- 16824000
- Gain on sale q3
- $150.3 million
- Total liquidity
- $366.2 million
- Irt exchange ratio
- 3.8 IRT shares per Centerspace share
- Ffo per share q3 2026
- 0.83
- Same store noi change yoy
- -2.7%
- Core ffo per share q3 2025
- 1.19
- Core ffo per share q3 2026
- 1.11
- Weighted average occupancy
- 95.0%
- Net debt to adjusted ebitda
- 6.3
- Special shareholder meeting
- November 10, 2026
- Same store expense growth yoy
- 4.2%
- Dispositions q3 aggregate price
- $288.8 million
- Effective new lease rate growth
- -1.9%
- Ytd dispositions aggregate price
- $318.8 million
- Effective blended lease rate growth
- 1.7%
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.