Centerspace Q1 revenue misses analyst expectations

Centerspace

04/05/2026 21:24

Overview

U.S. apartment owner reported Q1 revenue down 3% yr/yr, missing analyst expectations

Core FFO per share for Q1 fell 7.4% yr/yr, mainly due to prior asset sales

Company strategic review remains ongoing, update expected before or with Q2 results

Outlook

Centerspace sees 2026 net loss per share between $(0.95) and $(0.66)

Company expects 2026 FFO per share between $4.65 and $4.92

Centerspace says 2026 outlook excludes acquisitions or dispositions

Result Drivers

ASSET SALES - Revenue and Core FFO per share declined mainly due to the sale of 12 apartment communities in the prior year

HIGHER OPERATING EXPENSES - Increased same-store property operating expenses contributed to lower same-store NOI

Company press release: ID:nPn7DVdXJa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
$65.1 mln
$67.43 mln (7 Analysts)
Q1 Core FFO Per Share
$1.12


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

Wall Street's median 12-month price target for Centerspace is $69.00, about 0.9% above its May 1 closing price of $68.38

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)