MINNEAPOLIS, May 1, 2025 /PRNewswire/ — Let’s dive into Centerspace’s (NYSE: CSR) latest round of financials. By the numbers for Q1 2025, it’s a mix of ups and downs. Let’s take a look, shall we?
updated 2025 financial outlook
Centerspace has updated its 2025 financial outlook. You’ll find the details at S-17 in their [Supplemental Financial and Operating Data](https://www.centerspacehomes.com). Take a peek at the updated stats below to see where they’re headed.
| Metrics | Previous 2025 Outlook | Updated 2025 Outlook |
|---|---|---|
| Net loss per Share – diluted | $(0.71) to $(0.45) | $(0.71) to $(0.45) |
| Same-Store Revenue | 1.50% to 3.50% | 1.50% to 3.50% |
| Same-Store Expenses | 2.00% to 4.00% | 2.00% to 4.00% |
| Same-Store NOI | 1.25% to 3.25% | 1.25% to 3.25% |
| FFO per Share – diluted | $4.73 to $4.97 | $4.73 to $4.97 |
| Core FFO per Share – diluted | $4.86 to $5.10 | $4.86 to $5.10 |
And in case you’re curious, they’re laying out some capital expenditures in 2025. Flashy projects that fall between $16 million and $18 million. Now that’s a budget!
overview of the first quarter
- Revenue hit $67.1 million, up 4% from last year.
- Same-store sales jumped 3.5%, bumping NOI by 2.1%.
- The net loss now stands at $0.22 per share, an improvement from last year’s $0.37.
- Core FFO per share fell slightly to $1.21, mainly thanks to a property tax bump.
balance sheet highlights
Centerspace is sitting comfortably with $223.2 million in liquidity. Most of that, $211.3 million, stays in the bank—just the way they like it.
earnings call details
Want to hear it straight from the horse’s mouth? Join the [live webcast](https://ir.centerspacehomes.com) on May 2.
- Live Conference Call: May 2, 2025, at 1:00 PM ET
- Replay available till May 9, 2025.
- USA Toll Free: 1-833-470-1428, Access Code: 591644
same-store results
Here’s how the same-store numbers play out across periods:
| Metric | Q1 2025 vs Q1 2024 | Q1 2025 vs Q4 2024 |
|---|---|---|
| Revenues | 3.5% | 0.9% |
| Expenses | 5.8% | 1.1% |
| Net Operating Income (NOI) | 2.1% | 0.8% |
| Weighted Average Occupancy | 95.8% | 95.6% |
| New Lease Rate Growth | -1.1% | -3.5% |
| Renewal Lease Rate Growth | 3.5% | 3.1% |
| Blended Lease Rate Growth | 0.7% | 0.3% |
upcoming events
On the horizon? Conferences aplenty! Centerspace is rubbing elbows at:
- Wells Fargo Real Estate Securities Conference, May 6-7, 2025
- BMO North American Real Estate Conference, May 13, 2025
- Nareit REITweek: 2025 Investor Conference, June 2-4, 2025
Engage in those events and catch insights about where Centerspace is rolling next.
heckling out their fundamentals
Centerspace is not just sitting on its laurels. They’ve been a cornerstone in the apartment sector since 1970. They’re serving up homes across Colorado, Minnesota, and beyond. At last count, 13,012 homes say “We belong to Centerspace.”
For more juicy financial scoops, check out their original [press release](https://www.prnewswire.com/news-releases/centerspace-reports-first-quarter-2025-financial–operating-results-and-reaffirms-2025-core-ffo-per-share-guidance-302444579.html).
Solid forward-looking plans or pie in the sky? These financials sure make for some stimulating water cooler talk.
Contact Information
Investor Relations: Josh Klaetsch, 952-401-6600, IR@centerspacehomes.com
Marketing & Media: Kelly Weber, 952-401-6600, kweber@centerspacehomes.com
