MINNEAPOLIS, July 9, 2024 /PRNewswire/ -- Centerspace (NYSE: CSR) announced today the appointment of Jay Rosenberg to its Board of Trustees on July 8, 2024. Mr. Rosenberg will also serve on Centerspace's Nominating and Corporate Governance Committee. Mr. Rosenberg recently retired as Head of Public Real Assets for Nuveen, where he oversaw strategy, investment process and performance of the firm's listed real assets platform while also serving as a member of Nuveen's global investment committee. Additionally ...

MINNEAPOLIS, June 3, 2024 /PRNewswire/ --NYSE: CSR. Centerspace's Board of Trustees announced today that it has declared a regular quarterly distribution of $0.75 per share/unit, payable on July 10, 2024, to common shareholders and unitholders of record at the close of business on June 28, 2024. The Board of Trustees also declared a distribution of $0.4140625 per share on the 6.625% Series C Cumulative Redeemable Preferred Shares (NYSE: CSR PRC), payable on June 28, 2024, to holders of record at the close o ...

Industry Overview - The housing market in 2023 has been characterized by rising prices and mortgage rates, leading to increased monthly mortgage payments, impacting both aspiring and existing homeowners [1] - The restrictive monetary policy by the Federal Reserve aimed at controlling inflation has significantly contributed to the alarming rise in home prices [2] - New home sales showed fluctuations, with a seasonally adjusted annual rate of 634,000 in April, down 4.7% from March [3] - Existing home sales also declined by 1.9% in April, totaling a seasonally adjusted annual rate of 4.14 million, reflecting a similar year-over-year decrease [3] Future Projections - The National Association of Realtors forecasts a 9% increase in existing home sales in 2024, reaching 4.46 million, and a further 13.2% increase in 2025 to 5.05 million [4] - Housing starts are expected to rise by 1.2% in 2024 to 1.43 million and by 4.9% in 2025 to 1.5 million [4] Current Market Conditions - The median price for an existing home is currently $393,500, marking a 4.8% increase from the previous year, continuing a trend of year-over-year price increases for nine consecutive months [5] - Despite potential improvements in mortgage rates, they remain at a high level, prompting potential buyers to consider waiting for further rate reductions before making investment decisions [5] Investment Opportunities - Three residential stocks are highlighted as potential investment opportunities, all holding a Zacks Rank of 1 (Strong Buy) or 2 (Buy) and a VGM Score of A or B, indicating favorable metrics for selection [6] - M/I Homes, Inc. (MHO) has an expected earnings growth rate of 12.2% for the current year, with a Zacks Consensus Estimate improvement of 11.9% over the past 60 days [7] - KB Home (KBH) is projected to have a 13.9% earnings growth rate for the current year, with a 2.8% improvement in the Zacks Consensus Estimate over the past 60 days [8] - Centerspace (CSR) is expected to see a 4.9% earnings growth rate for the next year, with a 2% improvement in the Zacks Consensus Estimate over the past 60 days [8]

Centerspace (NYSE:CSR) Q1 2024 Earnings Conference Call April 30, 2024 10:00 AM ET Company Participants Josh Klaetsch - Investor Relations Anne Olson - President and Chief Executive Officer Bhairav Patel - Executive Vice President and Chief Financial Officer Grant Campbell - Senior Vice President, Investments Conference Call Participants Brad Heffern - RBC John Kim - BMO Capital Markets Rob Stevenson - Janney Connor Mitchell - Piper Sandler Michael Gorman - BTIG Operator Welcome to the Centerspace Q1 2024 E ...

Centerspace (CSR) came out with quarterly funds from operations (FFO) of $1.23 per share, beating the Zacks Consensus Estimate of $1.12 per share. This compares to FFO of $1.07 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 9.82%. A quarter ago, it was expected that this real estate investment trust would post FFO of $1.11 per share when it actually produced FFO of $1.22, delivering a surprise of 9.91%.Over the last four quarters, ...

Centerspace Reports First Quarter 2024 Financial Results and Raises Mid-Point for 2024 Core FFO per Share Guidance MINNEAPOLIS, MN, April 29, 2024 – Centerspace (NYSE: CSR) announced today its financial and operating results for the three months ended March 31, 2024. The tables below show Net Income (Loss), Funds from Operations ("FFO") , and Core FFO , all on a per diluted share basis, for the three months ended March 31, 2024; Same-Store Revenues, Expenses, and Net Operating Income ("NOI") over comparable ...

Form 10-Q For the quarterly period ended March 31, 2024 or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-35624 | --- | |--------------------------------------| | | | 45-0311232 | | (I.R.S. Employer Identification No.) | | | | 58702-1988 | | (Zip code) | (Registrant's telephone number, including area code) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities ...

MINNEAPOLIS, April 29, 2024 /PRNewswire/ -- Centerspace (NYSE: CSR) announced today its financial and operating results for the three months ended March 31, 2024. The tables below show Net Income (Loss), Funds from Operations ("FFO")1, and Core FFO1, all on a per diluted share basis, for the three months ended March 31, 2024; Same-Store Revenues, Expenses, and Net Operating Income ("NOI")1 over comparable periods; and Same-Store Weighted-Average Occupancy for each of the three months ended March 31, 2024, D ...

Even if price pressures have declined from their peak in 2022, they continue to hover above the pandemic mark. Federal Reserve Chair Jerome Powell recently acknowledged that prices of essential commodities remain elevated, indicating that more time is required to trim interest rates.A healthy labor market and a persistent uptick in consumer outlays pushed consumer prices higher in March. Last month, the consumer price index (CPI) advanced 0.4% in sequence and registered an increase of 3.5% year over year, i ...

Investors interested in REIT and Equity Trust - Residential stocks are likely familiar with Centerspace (CSR) and Essex Property Trust (ESS) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings est ...