[Earnings Release](index=2&type=section&id=Earnings%20Release) Centerspace's Q1 2024 earnings report details financial performance, revised outlook, and key operational activities [Overview and Highlights](index=2&type=section&id=Overview%20and%20Highlights) Centerspace reported its first quarter 2024 financial results, showing a net loss but significant year-over-year increases in Core FFO and Same-Store NOI. Key operational activities included the sale of non-core assets and share repurchases Q1 2024 Key Financial Performance | Per Common Share | 2024 | 2023 | | :----------------------- | :--- | :--- | | Net income (loss) - diluted | $(0.37) | $2.76 | | FFO - diluted | $1.16 | $0.89 | | Core FFO - diluted | $1.23 | $1.07 | Q1 2024 Same-Store Results (Year-Over-Year Comparison) | Same-Store Results | Q1 2024 vs. Q1 2023 | | :----------------- | :------------------ | | Revenues | 3.5% | | Expenses | (2.2)% | | NOI | 7.5% | - **Core FFO per diluted share increased 15.0% to $1.23** for Q1 2024 compared to $1.07 for Q1 2023[4](index=4&type=chunk) - Centerspace successfully executed the sale of two non-core apartment communities for an aggregate sales price of **$19.0 million**[4](index=4&type=chunk) - Centerspace repurchased **87,722 common shares** for total consideration of **$4.7 million** at an average price of **$53.62 per share**[4](index=4&type=chunk) [Balance Sheet Summary](index=3&type=section&id=Balance%20Sheet%20Summary) At the end of the first quarter, Centerspace maintained a strong liquidity position, primarily supported by available lines of credit and cash reserves - Total liquidity on the balance sheet was **$228.3 million** at the end of Q1 2024[5](index=5&type=chunk) - Liquidity consisted of **$215.6 million** available under lines of credit and **$12.7 million** in cash and cash equivalents[5](index=5&type=chunk) [Revised 2024 Financial Outlook](index=3&type=section&id=Revised%202024%20Financial%20Outlook) Centerspace revised its 2024 financial outlook, narrowing the ranges for net income and FFO per diluted share, and raising the mid-point for Core FFO per diluted share, reflecting updated expectations for same-store revenues and expenses Revised 2024 Financial Outlook Comparison | Metric | Previous Outlook (Low) | Previous Outlook (High) | Updated Outlook (Low) | Updated Outlook (High) | | :----------------------- | :--------------------- | :---------------------- | :-------------------- | :--------------------- | | Net income per Share – diluted | $(1.31) | $(0.99) | $(1.34) | $(1.10) | | Same-Store Revenue | 3.00 % | 5.00 % | 3.00 % | 4.50 % | | Same-Store Expenses | 5.50 % | 7.00 % | 4.00 % | 5.50 % | | Same-Store NOI | 1.50 % | 3.50 % | 2.50 % | 4.00 % | | FFO per Share – diluted | $4.54 | $4.80 | $4.57 | $4.76 | | Core FFO per Share – diluted | $4.68 | $4.92 | $4.74 | $4.92 | [Company Information and Forward-Looking Statements](index=4&type=section&id=Company%20Information%20and%20Forward-Looking%20Statements) Centerspace, established in 1970, operates 70 apartment communities across six states. The release includes a standard disclaimer regarding forward-looking statements, highlighting inherent risks and uncertainties - Centerspace was founded in **1970** and as of March 31, 2024, owned interests in **70 apartment communities**[10](index=10&type=chunk) - The company's portfolio consists of **12,883 apartment homes** located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota[10](index=10&type=chunk) - The press release contains forward-looking statements subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially[11](index=11&type=chunk) [Upcoming Events and Supplemental Information Access](index=3&type=section&id=Upcoming%20Events%20and%20Supplemental%20Information%20Access) Centerspace announced its participation in several upcoming investor conferences and provided details for accessing the Q1 2024 earnings call webcast and supplemental financial data - Centerspace is scheduled to participate in the **BTIG 4th Annual Housing Ecosystem Conference (May 6-7, 2024)**, **BMO 2024 Real Estate conference (May 8, 2024)**, and **Nareit REITweek: 2024 Investor Conference (June 4-5, 2024)**[9](index=9&type=chunk) - The Q1 2024 Earnings Call was scheduled for **Tuesday, April 30, 2024, at 10:00 AM ET**, with a live webcast and replay available[8](index=8&type=chunk) - Supplemental Operating and Financial Data is available in the Investors section of Centerspace's website[9](index=9&type=chunk) [Supplemental Financial and Operating Data](index=5&type=section&id=Supplemental%20Financial%20and%20Operating%20Data) This section provides detailed financial statements, non-GAAP reconciliations, debt analysis, and portfolio performance metrics [Common Share Data](index=6&type=section&id=Common%20Share%20Data) This section provides a detailed overview of Centerspace's common share and unit data, including historical closing prices, dividend yields, and outstanding share/unit counts across the last five quarters Common Share Data (Three Months Ended March 31, 2024) | Metric | Value | | :------------------------------------ | :------ | | High closing price | $58.00 | | Low closing price | $52.65 | | Average closing price | $55.68 | | Closing price at end of quarter | $57.14 | | Common share distributions – annualized | $3.00 | | Closing dividend yield – annualized | 5.3 % | | Closing common shares outstanding (thousands) | 14,912 | | Total closing common shares, limited partnership units, and Series E preferred units, as converted, outstanding (thousands) | 17,818 | [Key Financial Data](index=7&type=section&id=Key%20Financial%20Data) This section presents Centerspace's condensed consolidated statements of operations and balance sheets, offering a comprehensive view of the company's financial performance and position over the past five quarters [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) This section presents Centerspace's consolidated statements of operations, detailing revenues, expenses, and net income (loss) over recent quarters Condensed Consolidated Statements of Operations (in thousands) | Metric | 3/31/2024 | 12/31/2023 | 3/31/2023 | | :------------------------------------ | :-------- | :--------- | :-------- | | REVENUE | $64,506 | $64,068 | $67,897 | | TOTAL EXPENSES | $59,854 | $64,490 | $65,459 | | Operating income (loss) | $4,075 | $(1,505) | $62,597 | | Net income (loss) | $(4,792) | $(9,885) | $52,327 | | NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS | $(5,512) | $(9,764) | $41,964 | | Net income (loss) per common share – diluted | $(0.37) | $(0.65) | $2.76 | [Condensed Consolidated Balance Sheets](index=8&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) This section outlines Centerspace's consolidated balance sheets, presenting assets, liabilities, and equity at key reporting dates Condensed Consolidated Balance Sheets (in thousands) | Metric | 3/31/2024 | 12/31/2023 | 3/31/2023 | | :------------------------------------ | :-------- | :--------- | :-------- | | Total real estate investments | $1,860,257 | $1,889,443 | $1,901,744 | | Cash and cash equivalents | $12,682 | $8,630 | $8,939 | | TOTAL ASSETS | $1,903,473 | $1,926,361 | $1,978,884 | | TOTAL LIABILITIES | $979,828 | $978,776 | $974,519 | | TOTAL EQUITY | $907,085 | $931,025 | $987,805 | [Non-GAAP Financial Measures and Reconciliations](index=9&type=section&id=Non-GAAP%20Financial%20Measures%20and%20Reconciliations) This section provides detailed reconciliations of GAAP to non-GAAP financial measures, including Net Operating Income (NOI), Funds From Operations (FFO), Core FFO, and Adjusted EBITDA. It also outlines the company's methodology for same-store comparisons, emphasizing their importance for evaluating operational performance - Non-GAAP financial measures like **NOI, FFO, and Core FFO** are provided as supplemental information and should not be considered substitutes for GAAP results[25](index=25&type=chunk) - Same-store apartment communities are owned or in service for substantially all periods being compared and have achieved a target physical occupancy of **90%**[25](index=25&type=chunk) [Net Operating Income (NOI) Reconciliation](index=10&type=section&id=Net%20Operating%20Income%20(NOI)%20Reconciliation) This section reconciles operating income to Net Operating Income (NOI), including same-store revenue and expense comparisons Net Operating Income Reconciliation (in thousands) | Metric | Q1 2024 | Q4 2023 | Q1 2023 | Sequential % Change | Year-Over-Year % Change | | :------------------------------------ | :------ | :------ | :------ | :------------------ | :---------------------- | | Operating income (loss) | $4,075 | $(1,505) | $62,597 | (370.8)% | (93.5)% | | Net operating income | $39,437 | $38,970 | $38,974 | 1.2 % | 1.2 % | | Same-store Revenue | $61,536 | $61,230 | $59,439 | 0.5 % | 3.5 % | | Same-store Property operating expenses, including real estate taxes | $23,995 | $24,013 | $24,526 | (0.1)% | (2.2)% | | Same-store Net operating income | $37,541 | $37,217 | $34,913 | 0.9 % | 7.5 % | [Same-Store Controllable Expenses Reconciliation](index=11&type=section&id=Same-Store%20Controllable%20Expenses%20Reconciliation) This section details the breakdown and reconciliation of same-store controllable and non-controllable property operating expenses Same-Store Controllable Expenses (in thousands) | Metric | Q1 2024 | Q1 2023 | % Change | | :------------------------------------ | :------ | :------ | :------- | | **Controllable expenses:** | | | | | On-site compensation | $6,541 | $6,003 | 9.0 % | | Repairs and maintenance | $3,205 | $3,376 | (5.1)% | | Utilities | $4,053 | $4,884 | (17.0)% | | Administrative and marketing | $1,572 | $1,289 | 22.0 % | | **Total Controllable expenses** | **$15,371** | **$15,552** | **(1.2)%** | | **Non-controllable expenses:** | | | | | Real estate taxes | $6,008 | $6,775 | (11.3)% | | Insurance | $2,616 | $2,199 | 19.0 % | | **Total Non-controllable expenses** | **$8,624** | **$8,974** | **(3.9)%** | | Total property operating expenses, including real estate taxes | $25,069 | $28,923 | (13.3)% | [Funds From Operations (FFO) and Core FFO Reconciliation](index=12&type=section&id=Funds%20From%20Operations%20(FFO)%20and%20Core%20FFO%20Reconciliation) This section provides a reconciliation of net income to FFO and Core FFO, presenting per-share amounts for key performance indicators FFO and Core FFO Reconciliation (in thousands, except per share amounts) | Metric | 3/31/2024 | 12/31/2023 | 3/31/2023 | | :------------------------------------ | :-------- | :--------- | :-------- | | Net income (loss) available to common shareholders | $(5,512) | $(9,764) | $41,964 | | FFO applicable to common shares and Units | $20,889 | $20,129 | $16,254 | | Core FFO applicable to common shares and Units | $22,046 | $22,105 | $19,542 | | FFO per share and Unit - diluted | $1.16 | $1.11 | $0.89 | | Core FFO per share and Unit - diluted | $1.23 | $1.22 | $1.07 | [Adjusted EBITDA Reconciliation](index=13&type=section&id=Adjusted%20EBITDA%20Reconciliation) This section reconciles net income to Adjusted EBITDA, a non-GAAP measure used to assess operational profitability Adjusted EBITDA Reconciliation (in thousands) | Metric | 3/31/2024 | 12/31/2023 | 3/31/2023 | | :------------------------------------ | :-------- | :--------- | :-------- | | Net income (loss) available to controlling interests | $(3,905) | $(8,156) | $43,571 | | Adjusted EBITDA | $32,351 | $32,091 | $31,588 | [Debt and Capital Analysis](index=14&type=section&id=Debt%20and%20Capital%20Analysis) This section provides a detailed analysis of Centerspace's debt structure, including maturity schedules and outstanding balances, alongside key capital ratios such as total debt to total capitalization, debt service coverage, and payout ratio [Debt Analysis](index=14&type=section&id=Debt%20Analysis) This section details Centerspace's debt maturity schedule, outstanding balances, and weighted average interest rates Debt Maturity Schedule (as of 3/31/2024, in thousands) | Year | Total Debt | % of Total Debt | Weighted Average Interest Rate | | :--- | :--------- | :-------------- | :----------------------------- | | 2024 (remainder) | $357 | — | 7.72 % | | 2025 | $70,193 | 7.6 % | 5.39 % | | 2026 | $99,527 | 10.7 % | 3.59 % | | 2027 | $49,353 | 5.3 % | 3.47 % | | 2028 | $115,810 | 12.5 % | 3.14 % | | Thereafter | $593,841 | 63.9 % | 3.48 % | | **Total debt** | **$929,081** | **100.0 %** | **3.59 %** | Debt Balances Outstanding and Rates (in thousands) | Metric | 3/31/2024 | 12/31/2023 | 3/31/2023 | | :------------------------------------ | :-------- | :--------- | :-------- | | Secured fixed rate - mortgages payable - other | $389,874 | $391,140 | $279,340 | | Secured fixed rate - Fannie Mae credit facility | $198,850 | $198,850 | $198,850 | | Unsecured variable rate lines of credit | $40,357 | $30,000 | $143,469 | | Unsecured senior notes | $300,000 | $300,000 | $300,000 | | **Debt total** | **$929,081** | **$919,990** | **$921,659** | | Mortgages payable - other rate | 4.05 % | 4.05 % | 3.85 % | | Fannie Mae Credit Facility rate | 2.78 % | 2.78 % | 2.78 % | | Lines of credit rate | 6.68 % | 6.74 % | 6.19 % | | Unsecured senior notes rate | 3.12 % | 3.12 % | 3.12 % | | **Total debt rate** | **3.59 %** | **3.54 %** | **3.71 %** | [Capital Analysis](index=15&type=section&id=Capital%20Analysis) This section analyzes Centerspace's capital structure, including equity, debt capitalization, and key debt service ratios Equity and Debt Capitalization (in thousands) | Metric | 3/31/2024 | 12/31/2023 | 3/31/2023 | | :------------------------------------ | :-------- | :--------- | :-------- | | Total equity capitalization | $1,111,651 | $1,135,426 | $1,082,442 | | Total debt | $929,081 | $919,990 | $921,659 | | Total capitalization | $2,057,292 | $2,071,976 | $2,020,661 | | Total debt to total capitalization | 45.2 % | 44.4 % | 45.6 % | Debt Service and Distribution Data | Metric | 3/31/2024 | 12/31/2023 | 3/31/2023 | | :------------------------------------ | :-------- | :--------- | :-------- | | Debt service coverage ratio | 3.02 x | 3.09 x | 2.70 x | | Net debt/Adjusted EBITDA | 7.08 x | 7.10 x | 7.22 x | | Common distribution per share and Unit | $0.75 | $0.73 | $0.73 | | Payout ratio (Core FFO per diluted share and unit basis) | 61.0 % | 59.8 % | 68.2 % | [Portfolio Analysis](index=16&type=section&id=Portfolio%20Analysis) This section offers a comprehensive analysis of Centerspace's apartment portfolio, including detailed same-store comparisons (year-over-year and sequential), occupancy and rental rate trends, and a breakdown of capital expenditures across various categories [Same-Store Comparisons (Year-Over-Year)](index=16&type=section&id=Same-Store%20Comparisons%20(Year-Over-Year)) This section provides a year-over-year comparison of same-store revenues, expenses, NOI, occupancy, and rental rates Same-Store Performance (Q1 2024 vs Q1 2023, in thousands) | Metric | Q1 2024 | Q1 2023 | % Change | | :------------------------------------ | :------ | :------ | :------- | | Revenues | $61,536 | $59,439 | 3.5 % | | Expenses | $23,995 | $24,526 | (2.2)% | | NOI | $37,541 | $34,913 | 7.5 % | | Weighted Average Occupancy | 94.6 % | 94.9 % | (0.3)% | | Average Monthly Rental Rate | $1,547 | $1,499 | 3.2 % | | Average Monthly Revenue per Occupied Home | $1,724 | $1,660 | 3.9 % | - St. Cloud, MN region showed the highest year-over-year NOI growth at **21.2%**, driven by an **8.2% increase in revenues** and a **4.6% decrease in expenses**[51](index=51&type=chunk) [Same-Store Comparisons (Sequential Quarter)](index=17&type=section&id=Same-Store%20Comparisons%20(Sequential%20Quarter)) This section presents a sequential quarter comparison of same-store revenues, expenses, NOI, occupancy, and rental rates Same-Store Performance (Q1 2024 vs Q4 2023, in thousands) | Metric | Q1 2024 | Q4 2023 | % Change | | :------------------------------------ | :------ | :------ | :------- | | Revenues | $61,536 | $61,230 | 0.5 % | | Expenses | $23,995 | $24,013 | (0.1)% | | NOI | $37,541 | $37,217 | 0.9 % | | Weighted Average Occupancy | 94.6 % | 94.8 % | (0.2)% | | Average Monthly Rental Rate | $1,547 | $1,548 | (0.1)% | | Average Monthly Revenue per Occupied Home | $1,724 | $1,711 | 0.8 % | - Minneapolis, MN region experienced a **4.8% sequential increase in NOI**, despite a slight revenue decrease, due to a **6.7% reduction in expenses**[55](index=55&type=chunk) [Portfolio Summary](index=18&type=section&id=Portfolio%20Summary) This section summarizes key metrics for Centerspace's apartment portfolio, distinguishing between same-store and non-same-store communities Portfolio Key Metrics (as of 3/31/2024) | Metric | Same-Store | Non-Same-Store | All Communities | | :------------------------------------ | :--------- | :------------- | :-------------- | | Number of Apartment Homes at Period End | 12,580 | 303 | 12,883 | | Average Monthly Rental Rate | $1,547 | $1,885 | $1,555 | | Average Monthly Revenue per Occupied Apartment Home | $1,724 | $2,053 | $1,732 | | Weighted Average Occupancy | 94.6 % | 96.6 % | 94.6 % | | Operating Expenses as a % of Scheduled Rent | 41.1 % | 33.0 % | 40.9 % | [Capital Expenditures](index=19&type=section&id=Capital%20Expenditures) This section details Centerspace's capital expenditures, categorizing them into recurring, value-add, and acquisition-related spending Capital Expenditures (Q1 2024, in thousands) | Category | Same-Store | All Properties | | :------------------------------------ | :--------- | :------------- | | Recurring Capital Expenditures | $2,630 | $2,677 | | Recurring Capital Expenditures per Apartment Home | $209 | $208 | | Total Value Add | $9,525 | $9,958 | | Acquisition and Other Capital Expenditures | N/A | $2,581 | | Total Capital Spend | $12,155 | $15,216 | | Total Capital Spend per Apartment Home | $966 | $1,181 | - Total Capital Spend for all properties in Q1 2024 was **$15.2 million**, significantly higher than **$9.2 million** in Q1 2023[63](index=63&type=chunk) [2024 Financial Outlook (Detailed)](index=20&type=section&id=2024%20Financial%20Outlook%20(Detailed)) This section provides a comprehensive breakdown of Centerspace's revised 2024 financial outlook, detailing projections for same-store growth, components of NOI, interest expenses, and non-core income/expenses, along with key per-share metrics and additional assumptions 2024 Revised Financial Outlook Ranges | Metric | Low | High | | :------------------------------------ | :---- | :---- | | Same-store Revenue Growth | 3.00 % | 4.50 % | | Same-store Total Expenses Growth | 4.00 % | 5.50 % | | Same-store NOI Growth | 2.50 % | 4.00 % | | Total NOI (thousands) | $155,753 | $158,153 | | FFO per diluted share | $4.57 | $4.76 | | Core FFO per diluted share | $4.74 | $4.92 | | Net loss per share - diluted | $(1.34) | $(1.10) | - Additional assumptions for 2024 include same-store recurring capital expenditures of **$1,075 to $1,150 per home**, value-add expenditures of **$25.0 million to $27.0 million**, and proceeds from dispositions of **$19.0 million**[67](index=67&type=chunk) [Non-GAAP Financial Measures and Other Terms](index=22&type=section&id=Non-GAAP%20Financial%20Measures%20and%20Other%20Terms) This section provides comprehensive definitions and explanations for various non-GAAP financial measures and other key terms used throughout the earnings release and supplemental data, including Adjusted EBITDA, FFO, Core FFO, NOI, and different capital expenditure categories, along with their reconciliations to GAAP measures - **Adjusted EBITDA** is defined as earnings before interest, taxes, depreciation, amortization, gain/loss on sale of real estate and other investments, impairment, and other non-routine items, used to view income from operations without certain non-cash or non-operating effects[74](index=74&type=chunk) - **Funds From Operations (FFO)** is a non-GAAP measure defined by Nareit, excluding depreciation and amortization related to real estate, gains/losses from real estate sales, and impairment write-downs, to help investors understand operating performance[79](index=79&type=chunk)[80](index=80&type=chunk)[81](index=81&type=chunk) - **Core Funds from Operations (Core FFO)** further adjusts FFO for non-routine items not considered core to business operations, providing additional information for comparing core operating performance[84](index=84&type=chunk) - **Net Operating Income (NOI)** is defined as total real estate revenues less property operating expenses, including real estate taxes, providing a measure of operations unaffected by financing costs, depreciation, and general and administrative expenses[87](index=87&type=chunk) - **Recurring Capital Expenditures** are necessary to preserve the value and maintain functionality of communities, while **Value Add expenditures** are expected to increase income generation or decrease expense growth[90](index=90&type=chunk)[94](index=94&type=chunk)

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 ...

MINNEAPOLIS, April 8, 2024 /PRNewswire/ -- Centerspace (NYSE: CSR) will release its operating results for the quarter ended March 31, 2024, after the market closes on Monday, April 29, 2024. Management will host a conference call to discuss those results on the following day, Tuesday, April 30, 2024, at 10:00 a.m. Eastern Time. Interested parties may access the conference call via the following: Live Conference Call Details Live webcast: https://events.q4inc.com/attendee/595040516United States (Local): +1 4 ...

The REIT And Equity Trust - Residential Industry constituents are expected to bear the brunt of elevated deliveries, which is likely to weigh on rent growth. A high interest rate environment to counter inflation poses a risk to the flow of capital for this asset category. Also, interest expenses are expected to remain elevated. Regulatory issues are expected to add to the woes.Nevertheless, Invitation Homes Inc. (INVH) , UMH Properties, Inc. (UMH) and Centerspace (CSR) are expected to benefit despite high s ...

Centerspace (CSR) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.The power ...

Investors with an interest in REIT and Equity Trust - Residential stocks have likely encountered both 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.The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores hi ...

Centerspace (NYSE:CSR) Q4 2023 Earnings Conference Call February 21, 2024 10:00 AM ET Company Participants Josh Klaetsch – Investor Relations Anne Olson - President, Chief Executive Officer, Secretary & Executive Trustee Bhairav Patel – Executive Vice President & Chief Financial Officer Grant P. Campbell - Senior Vice President, Investments Conference Call Participants Brad Heffern - RBC Capital Markets Connor Mitchell - Piper Sandler John Kim - BMO Capital Markets Robert Stevenson - Janney Barry Oxford - C ...