Centerspace(US:CSR) Prnewswireยท2025-11-03 21:30Core Insights - Centerspace reported a net income of $3.19 per diluted share for Q3 2025, a significant increase from a net loss of $0.40 per diluted share in Q3 2024 [2][8] - Funds from Operations (FFO) per diluted share was $1.19, up from $1.01 year-over-year, while Core FFO per diluted share increased slightly to $1.19 from $1.18 [2][8] - The company experienced a 9.8% increase in revenue, totaling $71.4 million compared to $65.0 million in the same period last year [8] Financial Performance - Same-store revenues increased by 2.4% year-over-year, contributing to a 4.5% rise in same-store Net Operating Income (NOI) [2][8] - Total liquidity at the end of Q3 2025 was $200.4 million, comprising $187.5 million available under lines of credit and $12.9 million in cash [4] - The updated financial outlook for 2025 includes a projected net income per share of $2.76 to $2.19, with FFO per share expected to be between $4.73 and $4.82 [6] Operational Metrics - The weighted average occupancy rate for the same-store properties was 95.8% for Q3 2025, compared to 95.6% in Q3 2024 [2][8] - New lease rate growth was reported at -1.7%, while renewal lease rate growth was 2.9% [2][8] - The retention rate for residents was 59.9%, down from 61.3% in the previous year [2][8] Strategic Activities - Centerspace acquired Railway Flats in Loveland, Colorado, for $132.2 million, which included the assumption of $76.5 million in mortgage debt [8] - The company sold five apartment communities in St. Cloud, Minnesota, for a total of $124.0 million [8] - Centerspace repurchased 62,973 common shares for a total of $3.5 million at an average price of $54.86 per share [8]