Centerspace (CSR)
NYSE:CSR
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Earnings Data
Report Date
Aug 03, 2026After Close (Not Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.21Last Year’s EPS
-0.87Same Quarter Last Year
Moderate Buy
Based on 7 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a mix of constructive operational trends and clear near-term headwinds. Positive elements include reiterated full-year guidance, strong April leasing momentum, above-market performance in the Midwest (notably Minneapolis), record absorption and a conservative, well-positioned balance sheet (low rates, long maturities and $267M liquidity). Offsetting these are declines in same-store NOI, flat revenues driven by occupancy declines and RUBS losses in Colorado, elevated near-term expenses (including strategic review costs), a Q1 impairment tied to the review, and a marked slowdown in Denver transaction activity. Management provided detailed explanations for temporary items (timing, true-ups, review-related costs) and expects normalization, supporting confidence in meeting guidance. Overall, the positive operational traction and strong balance sheet slightly outweigh the regional and timing-related negatives.Company Guidance
Reaffirmed Full-Year Guidance and Core FFO Outlook
Company reiterated 2026 guidance: core FFO of $4.93 per share (midpoint) and same-store NOI growth of ~75 bps, same-store revenue growth of ~88 bps, and same-store expense growth of ~1.5% at midpoints; Q1 core FFO was $1.12 per diluted share. Management expects to deliver performance within initial guidance ranges.
Sequential Improvement in Leasing Spreads and Strong April Momentum
Blended leasing spreads improved month-to-month in Q1 (Jan: -90 bps to Mar: +140 bps) with Q1 blended spreads 40 bps better than prior leases and preliminary April blended spreads of 1.8%. Q1 blend: new lease rents -2.1% while renewals +3.1%; April new leases turned positive and renewals rose to 3.3%.
Retention and Portfolio Health
Same-store portfolio retention was 54.1% (up 2 percentage points YoY). Resident metrics remain healthy: rent-to-income at 21.2% and bad debt within historical range.
Midwest Outperformance, Led by Minneapolis
Midwest markets continue to outpace national rent growth. Minneapolis posted blended spreads of 1.3% in Q1 and accelerated to 3.8% in April with new lease spreads of 4.3% in the month. Minneapolis transaction volume was a record $2.5 billion in 2025.
Strong Demand and Absorption
Q1 absorption levels were the highest since the pandemic rebound in 2021, supporting expectations for improved leasing profile and future spread improvement as supply tapers.
Balance Sheet Strength and Favorable Debt Profile
Liquidity of $267 million (cash and line availability) versus $98 million of debt maturing through 2027; weighted average debt rate 3.6% and weighted average maturity 6.7 years. Management expects leverage metrics (annualized debt-to-EBITDA) to normalize back to mid-7x range as expenses normalize.
Improving NAREIT FFO and Controlled Long-Term Expense Trend
Casualty recoveries increased NAREIT FFO guidance by $0.03 at the midpoint to $4.78. Same-store expense growth was modest year-over-year at 1.7% in Q1 and historical same-store expense growth was ~1.6% over 2024–2025, supporting operational discipline.
Strategic Review Progress and Transparent Cost Guidance
Strategic review remains ongoing with Board engagement; costs tied to the review are forecasted at $1.0–$1.5 million for 2026 (primarily first half) and are being disclosed and treated as add-backs to core FFO modeling.
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
CSR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 04, 2026 | $68.77 | ― | ― |
Feb 17, 2026 | $62.03 | $62.67 | +1.03% |
Nov 03, 2025 | $57.55 | $58.89 | +2.32% |
Aug 04, 2025 | $52.39 | $51.95 | -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 03, 2026, After Close (Not Confirmed).
What is Centerspace (CSR) earnings time?
Centerspace (CSR) earnings time is at Aug 03, 2026, 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.
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 2026 (Q2) is -0.21.