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Centerspace (CSR)
NYSE:CSR
Earnings Data
Report Date
May 05, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-0.2Last Year’s EPS
-0.37Same Quarter Last Year
Moderate Buy
Based on 7 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 18, 2025
|% Change Since: 2.97%
|Next Earnings Date:May 05, 2025
Earnings Call Sentiment|Positive
CenterSpace has demonstrated strong financial performance and growth in resident satisfaction, along with strategic portfolio expansion and improvement. However, they face challenges with expense growth, supply pressure in key markets, and increased interest expenses. The highlights outweigh the lowlights, indicating an overall positive sentiment.Company Guidance
During the CenterSpace Q4 2024 earnings call, the company provided guidance for 2025, highlighting several key metrics and strategic directions. CenterSpace anticipates a core Funds From Operations (FFO) of $4.98 per share at the midpoint for 2025, representing a 2% growth over the 2024 results. The guidance assumes same-store net operating income (NOI) growth of 2.25%, revenue growth of 2.5%, and expense growth of 3%. The company expects blended leasing spreads of 2.4%, maintaining 2024 occupancy levels. General and administrative (G&A) and property management expenses are projected to range between $27.9 million and $28.4 million, with interest expenses ranging from $38.8 million to $49 million. Capital expenditures are forecasted as value-add expenditures between $16 and $18 million and recurring CapEx per home averaging $1,150 per unit. CenterSpace plans to focus on enhancing their portfolio in the Mountain West and Midwest regions through potential acquisitions, operating partnership unit transactions, and mezzanine lending, while remaining vigilant about the cost of capital.Strong Financial Performance
CenterSpace delivered $4.88 of core FFO per share for 2024, driven by sector-leading same-store NOI growth.
Portfolio Expansion and Improvement
Expansion included the acquisition of the Lydian in Denver and improvement in the leverage profile through the issuance of stock and redemption of Series B preferred shares.
Increased Resident Satisfaction
Resident satisfaction improved by 5.3%, with a 16% increase in five-star online reviews, contributing to a retention rate of 56.6%.
Dividend Increase
The board announced an increase to the quarterly dividend to $0.77 per share, reflecting confidence in the company's performance.
Occupancy and Revenue Growth
Same-store revenues increased by 3.1% in Q4 2024 compared to the same period in 2023, with occupancy increasing to 95.5%.
Cost Management and Efficiency
Favorable insurance renewal saw premiums decrease by 12%, and the company executed centralization initiatives to save costs.
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CSR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CSR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 18, 2025 | $62.25 | $63.79 | +2.47% |
| Oct 28, 2024 | $70.14 | $68.32 | -2.59% |
| Jul 29, 2024 | $68.09 | $67.52 | -0.84% |
| Apr 29, 2024 | $62.62 | $65.06 | +3.90% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Centerspace (CSR) report earnings?
Centerspace (CSR) is schdueled to report earning on May 05, 2025, TBA Not Confirmed.
What is Centerspace (CSR) earnings time?
Centerspace (CSR) earnings time is at May 05, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CSR EPS forecast?
CSR EPS forecast for the fiscal quarter 2025 (Q1) is -0.2.
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