The earnings call presented a generally positive outlook, highlighting improved occupancy rates, positive leasing trends, and strong revenue growth. However, there were challenges related to increased expenses and supply pressures in specific markets. Overall, the company's strategic focus and market positioning suggest optimism for the remainder of the year.
Company Guidance -
Q1 2025
During the Centerspace First Quarter 2025 Earnings Call, the company highlighted several key metrics demonstrating strong performance and reaffirmed its full-year guidance. The first quarter showed a 120 basis point year-over-year improvement in weighted average occupancy for the same-store portfolio, reaching an average physical occupancy of 96%. April renewal retention was around 57%, with blended leasing spreads up 70 basis points in the first quarter and further improvement into April. Renewal increases remained steady between 2% and mid-3%, while new lease spreads improved from a negative 3.5% in Q4 2024 to a positive 2.4% in April. The rent-to-income ratio was stable at 21.6%, and bad debt aligned with expectations at around 40 basis points. The company's core FFO for the first quarter was $1.21 per diluted share, supported by a 2.1% year-over-year increase in same-store NOI and a 3.5% increase in revenues from same-store communities. Centerspace's debt maturity profile was well managed, with a weighted average debt cost of 3.6% and a weighted average time to maturity of 5.4 years. The company maintained over $223 million in liquidity, reinforcing its position to capitalize on strategic opportunities amid market volatility.
Improved Occupancy Rates
The company's weighted average occupancy for the same-store portfolio improved by 120 basis points year-over-year, reaching an average physical occupancy of 96%.
Positive Leasing Trends
Blended leasing spreads increased by 70 basis points in the first quarter, with new lease spreads improving from negative 3.5% in Q4 2024 to 2.4% in April.
Core FFO Growth
Reported core FFO was $1.21 per diluted share for Q1, driven by a 2.1% year-over-year increase in same-store NOI.
Revenue Increase
Revenues from same-store communities increased by 3.5% compared to the same quarter in 2024, benefiting from improved occupancy.
Strong Market Demand
The Midwest and Mountain West regions benefited from a lack of new supply, with North Dakota leading the portfolio with blended leasing spreads of 5.3% year-to-date.
Centerspace (CSR) Earnings, Revenues Date & History
The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced
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
CSR Earnings-Related Price Changes
Report Date
Price 1 Day Before
Price 1 Day After
Percentage Change
May 01, 2025
$59.38
$60.65
+2.14%
Feb 18, 2025
$60.74
$62.24
+2.47%
Oct 28, 2024
$68.44
$66.66
-2.60%
Jul 29, 2024
$66.43
$65.88
-0.83%
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.
FAQ
When does Centerspace (CSR) report earnings?
Centerspace (CSR) is schdueled to report earning on Aug 04, 2025, After Close (Not Confirmed).
What is Centerspace (CSR) earnings time?
Centerspace (CSR) earnings time is at Aug 04, 2025, After Close (Not Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.