Saturday 17 October 2026
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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. In the quarter to June 2026, revenue fell 4.04%, EPS grew 93.1%, free cash flow grew 133.2% and total debt fell 10.9%, each against the same quarter a year earlier. Dividend growth for ten consecutive years; insiders bought in the last twelve months.
56.04
0.16
+0.29%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | 56.00 | 56.00 | 46.10 | 47.13 | 43.58 | 66.91 | 57.65 | 46.74 | 52.26 | 52.76 |
Analyst estimates 2026–2028 Powerpack |
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| High | 75.10 | 72.80 | 60.00 | 79.00 | 85.24 | 112.27 | 111.48 | 71.97 | 76.16 | 69.15 | |||||
| People | |||||||||||||||
| People | Employees | 486 | 523 | 527 | 392 | 365 | 462 | 471 | 414 | 404 | 349 | ||||
| Revenue/emp, $m | 0.00 | 0.00 | 0.00 | 0.47 | 0.49 | 0.44 | 0.55 | 0.63 | 0.65 | 0.78 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | 188 | 206 | 183 | 186 | 178 | 202 | 257 | 261 | 261 | 274 | ||||
| Gross margin, % | 0.00 | 0.00 | 0.00 | 85.33 | 84.64 | 83.71 | 85.02 | 85.41 | 86.19 | 86.01 | |||||
| EBT | 17 | (38) | (9) | 85 | 5 | (2) | (18) | 49 | (14) | 23 | |||||
| EBT margin, % | 8.91 | (18.54) | (4.83) | 45.66 | 2.66 | (1.04) | (6.87) | 18.84 | (5.44) | 8.39 | |||||
| Net income | 12 | 31 | 0 | 85 | 5 | (2) | (18) | 49 | (14) | 23 | |||||
| Depreciation | 65 | 57 | 92 | 75 | 77 | 93 | 106 | 103 | 109 | 117 | |||||
| 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 | ||||
| Earnings | 4.90 | 2.60 | (1.12) | 6.06 | (0.15) | (0.47) | (1.35) | 2.33 | (1.27) | 1.02 | |||||
| Cash flow | 5.40 | 6.10 | 3.35 | 5.93 | 4.87 | 6.09 | 6.05 | 5.97 | 6.34 | 5.89 | |||||
| Capex | 0.00 | 0.00 | 0.00 | 1.69 | (12.36) | (17.74) | (10.59) | 8.15 | (2.54) | (1.68) | |||||
| Free cash flow | 5.40 | 6.10 | 3.35 | 7.62 | (7.49) | (11.65) | (4.55) | 14.12 | 3.79 | 4.20 | |||||
| Book value | 50.29 | 46.30 | 53.90 | 57.89 | 53.55 | 72.18 | 62.45 | 62.09 | 56.92 | 50.20 | |||||
| Shares, m | 12 | 12 | 12 | 12 | 13 | 14 | 15 | 15 | 16 | 17 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 27.95 | 18.46 | 0.00 | 11.90 | 0.00 | 0.00 | 0.00 | 24.68 | 0.00 | 64.78 | ||||
| P/S | 4.46 | 3.94 | 3.20 | 4.58 | 4.99 | 7.59 | 3.45 | 3.29 | 3.93 | 4.08 | |||||
| P/B | 1.69 | 1.41 | 1.08 | 1.47 | 1.53 | 1.70 | 1.03 | 1.03 | 1.16 | 1.33 | |||||
| EV/Sales | 8.77 | 8.99 | 6.62 | 7.83 | 8.99 | 11.64 | 7.33 | 6.76 | 7.54 | 7.75 | |||||
| EV/FCF | (7.19) | (15.79) | 3.14 | 16.25 | (17.00) | (14.61) | (27.19) | 8.34 | 33.46 | 30.19 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | 66 | 74 | 40 | 70 | 61 | 84 | 92 | 90 | 98 | 98 | ||||
| Capex | (29) | (42) | (12) | 20 | (155) | (245) | (161) | 122 | (39) | (28) | |||||
| Free cash flow | 66 | 74 | 40 | 89 | (94) | (161) | (69) | 212 | 59 | 70 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | 36 | 21 | (166) | (270) | (318) | (323) | (446) | (353) | (346) | (343) | ||||
| Total debt | 912 | 761 | 646 | 649 | 719 | 856 | 1,008 | 916 | 955 | 1,021 | |||||
| Net debt | 845 | 732 | 626 | 603 | 712 | 817 | 996 | 907 | 942 | 1,006 | |||||
| Shareholders’ equity | 619 | 561 | 643 | 680 | 673 | 996 | 950 | 931 | 882 | 840 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | 2.07 | (1.68) | (1.03) | 5.27 | (0.13) | (0.38) | (1.03) | 1.76 | (1.02) | 0.89 | ||||
| ROIC | 0.00 | 0.00 | 0.00 | 5.31 | 1.53 | 1.03 | 0.45 | 2.87 | 0.70 | 2.19 | |||||
| ROE | 6.87 | (5.08) | (2.52) | 12.78 | (0.31) | (0.87) | (2.33) | 4.12 | (2.29) | 1.99 | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
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 |
|---|---|---|---|---|---|---|---|---|---|
| IRT Independence Realty Trust, Inc. | $3.6B | 80.1× | 120× | +3.12% (above 0%: growing) | −51.67% (below 0%: shrinking) | −14.38% (below 0%: shrinking) | 57.36% | 15.51% | Compare |
| MRP Millrose Properties, Inc. | $3.4B | 7.8× | 9.3× | +32.11% (above 0%: growing) | +11.76% (above 0%: growing) | +61.32% (above 0%: growing) | 84.81% | 85.16% | Compare |
| UMH UMH Properties, Inc. | $1.3B | 127× | 111× | +7.50% (above 0%: growing) | +66.67% (above 0%: growing) | −8.46% (below 0%: shrinking) | 55.24% | 18.78% | Compare |
| CSR Centerspace | $989.4M | 43.4× | — (loss-making) | −4.04% (below 0%: shrinking) | n/m | +133.15% (above 0%: growing) | 86.14% | 13.35% | |
| NXRT NexPoint Residential Trust, Inc. | $476.4M | — (loss-making) | — (loss-making) | +2.31% (above 0%: growing) | n/m | +52.54% (above 0%: growing) | 61.87% | 10.92% | Compare |
| BRT BRT Apartments Corp. | $256.3M | — (loss-making) | — (loss-making) | +1.14% (above 0%: growing) | n/m | −32.50% (below 0%: shrinking) | 100.00% | 11.65% | Compare |
| AIV Apartment Investment and Management Company | $244.0M | 0.4× | — (loss-making) | −271.99% (below 0%: shrinking) | n/m | +226.39% (above 0%: growing) | 396.41% | 6,653.82% | Compare |
| ELME Elme Communities | $155.5M | — (loss-making) | — (loss-making) | +1.72% (above 0%: growing) | n/m | −17.20% (below 0%: shrinking) | 57.49% | (183.33%) | Compare |
| BHM Bluerock Homes Trust, Inc. | $92.6M | — (loss-making) | — | +15.03% (above 0%: growing) | n/m | +51.15% (above 0%: growing) | 100.00% | (28.96%) | Compare |
| Median of peers | $366.4M | 43.9× | 111× | +2.72% | +11.76% | +21.34% | 73.34% | 13.58% |
Centerspace (CSR) key facts
- Strength: Centerspace’s revenue for fiscal 2025 (year ended December 2025) was $273.7 million, up 4.86% from fiscal 2024.
- Centerspace (CSR) is a Reit Residential company in the Real Estate sector, listed on the New York Stock Exchange.
- As of October 16, 2026, CSR traded at $56.04, a market capitalization of $989.4 million.
- Centerspace pays an annual dividend of $3.08 per share, a yield of 5.50%.
- Return on equity was 1.99% and debt-to-equity 1.25.
- Its Piotroski F-score is 6 out of 9 for fiscal 2025.