Operational Performance
Strategic Review and Portfolio Shifts
The company’s Board of Trustees is continuing a proactive review of strategic alternatives to maximize shareholder value, a process first announced in November 2025. Centerspace stated the review remains ongoing with no definitive timetable for completion.
Throughout the full year 2025, Centerspace aggressively reshaped its portfolio:
• Acquisitions: The company purchased two apartment communities Sugarmont in Salt Lake City and Railway Flats in Colorado for a combined $281.2 million.
• Dispositions: It sold 12 non-core apartment communities in Minnesota and one corporate office building for approximately $215.5 million.
• Share Repurchases: Centerspace repurchased 62,973 shares at an average price of $54.86.
2026 Outlook
Looking ahead, Centerspace issued a 2026 financial outlook, forecasting Core FFO in the range of $4.81 to $5.05 per diluted share. The company expects a full-year net loss per share between $0.49 and $0.19. For its same-store portfolio in 2026, the company projects NOI growth between (0.50)% and 2.00%, driven by expected revenue growth of 0% to 1.75%.
The Board also declared a quarterly distribution of $0.77 per share, payable on April 14, 2026, to shareholders of record as of March 30.
At year-end, Centerspace maintained total liquidity of $267.9 million, including $255.1 million available on its lines of credit.