NYSE$CSR
Centerspace · Q1 2021 earnings
Q1 2021 earnings · · Investor relations
Briefing
Reported strong financial results for the first quarter
Centerspace reports a net loss of $(0.49) per diluted share for Q1 2021, compared to a net loss of $(0.69) per diluted share for the same period in 2020. Core FFO increased by 5.6% to $0.95 per diluted share. The company acquired Union Pointe, a 256-home apartment community in Longmont, Colorado for $76.9 million.
- Centerspace paid its 200th consecutive quarterly distribution since its initial dividend in 1971.
- Net Loss was $(0.49) per diluted share for the first quarter of 2021, compared to Net Loss of $(0.69) per diluted share for the same period of 2020.
- Core FFO increased 5.6% to $0.95 per diluted share for the three months ended March 31, 2021, compared to $0.90 for the three months ended March 31, 2020.
- Same-store revenues increased by 0.4% for the first quarter of 2021 compared to the first quarter of 2020.
Headline financials
Revenue & EPS history
Centerspace · Revenue · Quarterly
$46.6M
Revenue by segment
Centerspace · $63.1M total across 3 segments · Q2 2022
- Same-store Revenue$48.9M—77.4%
- Non-same-store Revenue$13.3M—21.1%
- Other Properties Revenue$915K—1.4%
Forward guidance
Centerspace's 2021 financial outlook with midpoints of $0.30 for Earnings per Share and $3.60 for Core FFO is consistent with its release issued April 19, 2021, and up from its February expectation of $0.14 and $3.455, respectively.
Tailwinds
- Revenue growth between 0.0% and 3.0%.
- Controllable expenses growth between 3.5% and 4.5%.
- Non-controllable expenses growth between 2.5% and 6.0%.
- Total expenses growth between 3.0% and 5.0%.
- Same-store NOI growth between -1.5% and 1.5%.
Headwinds
- Interest expense between $29.8 million and $31.1 million.
- Preferred dividends of $6.43 million.
- General and administrative and property management expenses between $23.3 million and $22.5 million.
- Casualty losses between $1.75 million and $1.25 million.
- Non-real estate depreciation and amortization of $280 thousand.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2021
-0.0%
Avg return
Earnings day
-0.1%
Avg return
5 days after
+0.4%
Avg return
30 days after
48%
30 / 62 earnings
Positive
+9.5%
Q2 2023
Best reaction
-9.0%
Q1 2017
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.1% | -1.7% | -13.1% | |
| Q4 2025 | +1.4% | -1.3% | -9.3% | |
| Q3 2025 | +1.8% | +1.4% | +9.6% | |
| Q1 2025 | +1.9% | +0.8% | +6.0% | |
| Q4 2024 | +2.5% | +3.5% | +2.5% | |
| Q3 2024 | -1.8% | -5.1% | +4.1% | |
| Q2 2024 | -1.9% | +0.1% | +5.9% | |
| Q1 2024 | +4.1% | +6.4% | +2.0% | |
| Q4 2023 | +3.4% | +0.4% | +3.0% | |
| Q3 2023 | +1.6% | +6.3% | +11.9% | |
| Q2 2023 | +9.5% | +5.5% | +6.9% | |
| Q1 2023 | +0.5% | +5.3% | +4.3% | |
| Q4 2022 | -2.2% | -3.0% | -19.9% | |
| Q3 2022 | -3.2% | -9.5% | -6.9% | |
| Q2 2022 | -0.2% | -2.1% | -12.2% | |
| Q1 2022 | -6.4% | -10.1% | -9.0% | |
| Q4 2021 | -3.3% | +7.2% | +1.5% | |
| Q3 2021 | -2.4% | -0.3% | -0.3% | |
| Q2 2021 | +3.1% | +5.5% | +13.4% | |
| Q1 2021 | -1.0% | +1.2% | +2.0% | |
| Q4 2020 | +1.8% | -1.5% | -1.3% | |
| Q3 2020 | +3.6% | +0.0% | +6.5% | |
| Q2 2020 | -1.0% | +0.7% | -1.6% | |
| Q1 2020 | -3.9% | -1.3% | +19.0% | |
| Q4 2019 | -9.0% | -9.4% | -34.5% | |
| Q3 2019 | -1.2% | +0.2% | +4.2% | |
| Q2 2019 | +7.8% | +5.9% | +12.6% | |
| Q1 2019 | +1.1% | +1.5% | +1.8% | |
| Q4 2018 | -3.7% | -5.9% | -8.5% | |
| Q3 2018 | +2.7% | +4.2% | +13.1% | |
| Q2 2018 | -2.0% | -2.7% | -4.1% | |
| Q1 2018 | -5.3% | -5.0% | +1.6% | |
| Q4 2017 | +1.1% | +9.6% | +2.6% | |
| Q3 2017 | -1.7% | -1.7% | +3.2% | |
| Q2 2017 | +5.3% | +4.8% | +10.1% | |
| Q1 2017 | -9.0% | -13.7% | -14.1% | |
| Q4 2016 | +0.0% | +0.3% | +2.3% | |
| Q3 2016 | +9.5% | — | — | |
| Q2 2016 | -5.9% | — | — | |
| Q1 2016 | +1.1% | — | — | |
| Q4 2015 | +1.0% | — | — | |
| Q3 2015 | +2.0% | — | — | |
| Q2 2015 | -0.6% | — | — | |
| Q1 2015 | -1.2% | — | — | |
| Q4 2014 | -2.7% | — | — | |
| Q3 2013 | -1.5% | — | — | |
| Q2 2013 | -2.9% | — | — | |
| Q1 2013 | +0.5% | — | — | |
| Q4 2013 | +0.7% | — | — | |
| Q4 2012 | +0.6% | — | — | |
| Q3 2012 | +2.9% | — | — | |
| Q2 2012 | -2.4% | — | — | |
| Q1 2012 | +2.0% | — | — | |
| Q4 2011 | +4.1% | — | — | |
| Q3 2011 | -4.1% | — | — | |
| Q2 2011 | +4.6% | — | — | |
| Q1 2011 | +1.5% | — | — | |
| Q4 2010 | -1.0% | — | — | |
| Q3 2010 | -1.4% | — | — | |
| Q2 2010 | +0.0% | — | — | |
| Q1 2010 | -2.4% | — | — | |
| Q4 2009 | -1.2% | — | — |
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