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Centerspace

CSR Real Estate Reit Residential

Centerspace’s revenue for fiscal 2025 (year ended December 2025) was $273.7 million, up 4.86% from fiscal 2024.

Revenue
−16.6%
EPS
+165.6%
Free cash flow
+226.9%
Total debt
−29.0%

Quarter to September 2026, against a year earlier

58.48 1.09 −1.83%
Market cap
$1.0B
P/E
8.8×
Fwd P/E
−62.8×
Dividend yield
5.27%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.12
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — 2 — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.51%

Capital & Financial Ratios $m

Size
Market Cap 1,030.00
Revenue ttm 256.99
Net income ttm 106.07
Free cash flow ttm 453.68
Net debt Q 693.53
Valuation
P/E 8.83
Forward P/E (62.80) (negative: loss-making)
Price / sales 3.82
Forward P/S Powerpack
Price / FCF 2.17
Price / book 1.07
Financial health
Current ratio Q 0.34
Debt / equity Q 0.88
Interest coverage Q 18.01
Growth
Revenue growth Q −16.64% (below 0%: shrinking)
Operating income growth Q +96.18% (above 0%: growing)
EPS, this year −137.14% (below 0%: weak)
EPS, next year A +31.08% (at or above 15%: strong)
Revenue, next year A −6.53% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A +27.33% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 6.5×, against a ten-year median of 7.9×; over the ten years it ranged from 5.7× in 2023 to 11.9× in 2021.
P/E against its own 10 years 12.67%
10-year low 10-year high
P/S against its own 10 years 35.13%
10-year low 10-year high
P/B against its own 10 years 12.76%
10-year low 10-year high
EV/Sales against its own 10 years 6.42%
10-year low 10-year high
EV/FCF against its own 10 years 9.85%
10-year low 10-year high

Dividends raised 2 years running

Yield
5.27%
Annual rate
3.08
Payout ratio
46.8%
Growth, 2017–25
+1.20%/yr
  1. 2.80 ’17
  2. 2.80 ’18 +0
  3. 2.80 ’19 +0
  4. 2.80 ’20 +0
  5. 2.84 ’21 +1
  6. 2.92 ’22 +3
  7. 2.92 ’23 +0
  8. 3.00 ’24 +3
  9. 3.08 ’25 +3
  10. 5.29 ’26e +72
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 9 13 16 119
Receivables — — — —
Inventory — — — —
Other — — — —
9 13 16 119
2023 2024 2025 Q'26
Payables 63 59 59 54
ST’ Debt 299 300 300 300
Other — — — —
362 359 359 354

Compound Annual Growth %

10y 5y 3y
Sales 5.51% 8.98% 2.15%
Cash Flow 2.22% 9.97% 2.29%
Earnings (5.89%) 0.00% 0.00%
Book Value 2.82% 4.53% (4.04%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.13 Actual 1.11

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.21 1.25 Beat by 0.04
Q1 FY26 1.17 1.12 Miss by 0.05
Q2 FY26 1.22 1.27 Beat by 0.05
Q3 FY26 1.13 1.11 Miss by 0.02
Q4 FY26 1.14 — Reports 16 February 2027

EPS $

Mar Jun Sep Dec Year
’26 (0.77) (0.06) 8.51 — —
’25 (0.22) (0.87) 3.19 (1.10) 1.02
’24 (0.37) (0.19) (0.40) (0.31) (1.27)
’23 2.76 (0.19) 0.41 (0.65) 2.32
’22 (0.68) (0.30) (0.14) (0.30) (1.35)
’21 (0.49) 1.48 (0.81) (0.61) (0.47)
’20 (0.67) (0.40) 1.38 (0.46) (0.15)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 65 66 60 — —
’25 67 69 71 67 274
’24 65 65 65 66 261
’23 68 65 65 64 261
’22 60 63 65 68 257
’21 47 47 50 58 202
’20 44 44 44 46 178
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 21 23 21 — —
’25 25 25 35 13 98
’24 24 23 32 19 98
’23 22 24 32 12 90
’22 12 23 34 23 92
’21 15 16 26 28 84
’20 6 19 22 14 61
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 16 45 300 — —
’25 20 (135) 92 93 70
’24 21 9 20 8 59
’23 152 10 99 (50) 212
’22 (1) 12 (80) 0 (69)
’21 (65) 68 (118) (46) (161)
’20 (20) 12 (89) 4 (94)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 188 206 183 186 178 202 257 261 261 274 257 +4.2% 256 249 241 (4.1%)
Gross margin, % 0.00 0.00 0.00 85.33 84.64 83.71 85.02 85.41 86.19 86.01 86.21 +86.0 pt
EBT 17 (38) (9) 85 5 (2) (18) 49 (14) 23 106 +3.5%
EBT margin, % 8.91 (18.54) (4.83) 45.66 2.66 (1.04) (6.87) 18.84 (5.44) 8.39 41.27 (0.5) pt
Net income 12 31 0 85 5 (2) (18) 49 (14) 23 106 +7.3%
Per share, $
Per share, $ Revenue 15.30 16.98 15.31 15.82 14.17 14.61 16.87 17.43 16.83 16.36 15.30 +0.7%
Earnings 4.90 2.52 (0.75) 6.06 (0.15) (0.47) (1.35) 2.33 (1.27) 1.02 6.62 (16.0%)
Cash flow 5.40 6.10 3.35 5.93 4.87 6.09 6.05 5.97 6.34 5.89 4.61 +1.0%
Capex 0.00 0.00 0.00 1.69 (12.36) (17.74) (10.59) 8.15 (2.54) (1.68) 22.40 n/m
Free cash flow 5.40 6.10 3.35 7.62 (7.49) (11.65) (4.55) 14.12 3.79 4.20 27.01 (2.8%)
Book value 50.29 46.30 53.90 57.89 53.55 72.18 62.45 62.09 56.92 50.20 54.86 0.0%
Shares, m 12 12 12 12 13 14 15 15 16 17 17 +3.5%
Valuation, ×
Valuation, × P/E 27.95 18.46 0.00 11.90 0.00 0.00 0.00 24.68 0.00 64.78 8.83 14.8
P/S 4.46 3.94 3.20 4.58 4.99 7.59 3.45 3.29 3.93 4.08 3.82 4.3
P/B 1.69 1.41 1.08 1.47 1.53 1.70 1.03 1.03 1.16 1.33 1.07 1.3
EV/Sales 8.77 8.99 6.62 7.83 8.99 11.64 7.33 6.76 7.54 7.75 6.52 8.2
EV/FCF (7.19) (15.79) 3.14 16.25 (17.00) (14.61) (27.19) 8.34 33.46 30.19 3.69 1.0
Cash, $m
Cash, $m Operating cash flow 66 74 40 70 61 84 92 90 98 98 77 +4.5%
Capex (29) (42) (12) 20 (155) (245) (161) 122 (39) (28) 376 (0.3%)
Free cash flow 66 74 40 89 (94) (161) (69) 212 59 70 454 +0.6%
Balance, $m
Balance, $m Working capital 36 21 (166) (270) (318) (323) (446) (353) (346) (343) (235) n/m
Net debt 845 732 626 603 712 817 996 907 942 1,006 694 +2.0%
Shareholders’ equity 619 561 643 680 673 996 950 931 882 840 921 +3.4%
Returns, %
Returns, % ROA 2.07 (1.68) (0.65) 5.27 (0.13) (0.38) (1.03) 1.76 (1.02) 0.89 4.68 (1.2) pt
ROIC 0.00 0.00 0.00 5.31 1.53 1.03 0.45 2.87 0.70 2.19 5.58 +2.2 pt
ROE 6.87 (5.08) (1.58) 12.78 (0.31) (0.87) (2.33) 4.12 (2.29) 1.99 10.10 (4.9) pt
People
People Employees 486 523 527 392 365 462 471 414 404 349 — (3.6%)
Revenue/emp, $m 0.00 0.00 0.00 0.47 0.49 0.44 0.55 0.63 0.65 0.78 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Centerspace vs peers in Reit Residential (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
JAN Janus Living, Inc. $9.5B — (loss-making) — +78.32% (above 0%: growing) n/m +592.48% (above 0%: growing) 27.91% (4.66%) Compare
MRP Millrose Properties, Inc. $4.1B 8.7× 8.3× +17.71% (above 0%: growing) +24.27% (above 0%: growing) +61.32% (above 0%: growing) 85.66% 85.52% Compare
IRT Independence Realty Trust, Inc. $3.7B 57.9× 92.2× +2.97% (above 0%: growing) +264.00% (above 0%: growing) +235.79% (above 0%: growing) 58.16% 16.71% Compare
UMH UMH Properties, Inc. $1.3B 143× 99.7× +10.78% (above 0%: growing) −27.40% (below 0%: shrinking) +16.10% (above 0%: growing) 53.76% 18.37% Compare
CSR Centerspace $1.0B 8.8× — (loss-making) −16.64% (below 0%: shrinking) +165.61% (above 0%: growing) +226.92% (above 0%: growing) 86.32% 254.51%
NXRT NexPoint Residential Trust, Inc. $435.3M — (loss-making) — (loss-making) +2.61% (above 0%: growing) n/m +25.98% (above 0%: growing) 60.54% 9.87% Compare
BSRT BSR Real Estate Investment Trust $402.9M — — — — — — — Compare
BRT BRT Apartments Corp. $239.6M — (loss-making) — (loss-making) +1.23% (above 0%: growing) n/m +5.58% (above 0%: growing) 100.00% 11.79% Compare
AIV Apartment Investment and Management Company $229.5M 0.4× — (loss-making) +3,292.65% (above 0%: growing) n/m +226.39% (above 0%: growing) (20.10%) (337.31%) Compare
Median of peers $867.7M 33.3× 92.2× +10.78% +24.27% +61.32% 58.16% 11.79%

All 20 Reit Residential stocks →

Pay and ownership Proxy statement filed 3 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 3.11m 3.50m 112.00
2024 2.99m 3.56m 112.00
2022 2.01m (1.80m) 95.00
2021 2.31m 5.29m 156.00
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Centerspace (CSR) Latest News

3 Nov

Impact 4 · · GuruFocus.com
Impact 3 · · MarketBeat transcript
Impact 3 · · Moby

2 Nov

Impact 4 · · PR Newswire
Impact 4 · · Business Wire

24 Oct

Impact 4 · · Simply Wall St.

1 Oct

Impact 4 · · PR Newswire

30 Sep

Impact 4 · · multifamilydive.com

29 Sep

Impact 3 · · bisnow.com
Impact 3 · · Business Wire

20 Sep

Impact 4 · · Insider Monkey

14 Sep

Impact 5 · · multifamilydive.com

10 Sep

Impact 5 · · credaily.com

9 Sep

Impact 5 · · bisnow.com
Impact 5 ·
Impact 4 · · PR Newswire

10 Aug

Impact 4 · · The Motley Fool transcript
Impact 3 ·

7 Aug

Impact 3 · · multifamilydive.com

5 Aug

Impact 3 · · MarketBeat

4 Aug

Impact 4 ·
Impact 3 · · Moby transcript

3 Aug

Impact 3 ·
Impact 3 ·

14 Jul

Impact 3 ·

6 Jun

Impact 4 · · Simply Wall St.

2 Jun

Impact 4 · · multifamilydive.com

1 Jun

Impact 4 · · PR Newswire

15 May

Impact 4 · · Simply Wall St.

11 May

Impact 4 · · Simply Wall St.
stockrow.com/CSR · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com