Quarterly ResultAug 3, 2026, 04:24 PM
Centerspace Q2 Core FFO $1.27; Updates 2026 Outlook Due to Dispositions
AI Summary
Centerspace reported its second quarter 2026 financial and operating results, showing a net loss of $(0.07) per diluted share, a substantial improvement from the prior year. Core FFO per diluted share slightly decreased to $1.27. The company updated its full-year 2026 financial outlook, lowering its FFO and Core FFO per share guidance due to significant disposition activity, including the sale of an apartment community in Q2 and seven more post-quarter. Same-store NOI saw a modest increase of 0.3%.
Key Highlights
- Q2 2026 Net loss per diluted share was $(0.07), significantly improved from $(0.87) in Q2 2025.
- Q2 2026 Core FFO per diluted share decreased 0.8% to $1.27, compared to $1.28 in Q2 2025.
- Q2 2026 Revenue decreased 4.0% to $65.8 million, primarily due to prior year dispositions.
- Same-store Net Operating Income (NOI) increased 0.3% compared to the prior year period.
- Updated 2026 FFO per diluted share outlook is $4.37 to $4.50, down from previous guidance.
- Updated 2026 Core FFO per diluted share outlook is $4.58 to $4.68, also lower than prior guidance.
- Disposed of an apartment community for $30.0 million in Q2, and seven more for $139.8 million post-quarter.
- Repurchased 45,310 common shares for an average of $55.54 per share.
Price Impact
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