Brief: Centerspace Q2 Adjusted FFO Per Share USD 1.28

Centerspace

04/08/2025 21:30

Overview

Centerspace Q2 2025 revenue rises 5.4% yr/yr, beating analyst expectations

Net loss per share increases to $0.87 from $0.19 yr/yr

Core FFO per share rises 0.8% yr/yr to $1.28

Outlook

Centerspace updates 2025 net loss per share to $2.50-$2.76

Company expects 2025 same-store revenue growth of 2%-3%

Centerspace projects 2025 same-store NOI growth of 2.5%-3.5%

Company forecasts 2025 Core FFO per share at $4.88-$5.00

Result Drivers

SAME-STORE REVENUE - Increased by 2.7%, driving a 2.9% rise in same-store NOI

ACQUISITION - Purchase of Sugarmont apartment community in Salt Lake City for $149 mln

LEASE RATE GROWTH - Blended lease rate growth at 2.4% for Q2 2025

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$68.50 mln
$67.90 mln (7 Analysts)
Q2 Core FFO Per Share
$1.28


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 5 "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 $71.00, about 23.7% above its August 1 closing price of $54.20

Press Release: ID:nPn64fzZZa

(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.)