Overview
Centerspace Q3 revenue grew 9.8% to $71.4 mln, beating analyst expectations
Net income per share was $3.19, up from a loss of $0.40 last year
Company acquired Railway Flats for $132.2 mln
Outlook
Centerspace lowers 2025 net income forecast to $1.97-$2.19 per share
Result Drivers
PROPERTY TRANSACTIONS - Acquisition of Railway Flats and sale of St. Cloud properties impacted financial results
SAME-STORE REVENUE - 2.4% increase in same-store revenue drove 4.5% increase in same-store NOI
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$71.40 mln
$69.09 mln (6 Analysts)
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the residential reits peer group is "buy"
Wall Street's median 12-month price target for Centerspace is $66.00, about 10.2% above its October 31 closing price of $59.25
Press Release: ID:nPnbnTsVpa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
