Centerspace (CSR) Q3 FFO Surpass Estimates

Financial Performance - Centerspace (CSR) reported quarterly funds from operations (FFO) of $1.18 per share, exceeding the Zacks Consensus Estimate of $1.17 per share, but down from $1.20 per share a year ago, representing an FFO surprise of 0.85% [1] - The company posted revenues of $65.03 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 2%, compared to $64.57 million in the same quarter last year [2] - Over the last four quarters, Centerspace has surpassed consensus FFO estimates four times but has not beaten consensus revenue estimates [2] Stock Performance and Outlook - Centerspace shares have increased approximately 20.9% since the beginning of the year, while the S&P 500 has gained 21.8% [3] - The future price movement of the stock will largely depend on management's commentary during the earnings call and the company's FFO outlook [4][6] - The current consensus FFO estimate for the upcoming quarter is $1.20 on revenues of $67 million, and for the current fiscal year, it is $4.83 on revenues of $262.9 million [7] Industry Context - The REIT and Equity Trust - Residential industry, to which Centerspace belongs, is currently ranked in the top 33% of over 250 Zacks industries, indicating a favorable outlook for the sector [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in estimate revisions, which can impact Centerspace's stock performance [5]