Centerspace: Increased 2024 Outlook As Occupancy Recovers [Seeking Alpha]
D/B/A Centerspace (CSR)
Company Research
Source: Seeking Alpha
Summary Centerspace is a residential REIT focused primarily on Minnesota, Colorado, and North Dakota. The REIT has significantly outperformed the Vanguard Real Estate Index Fund ETF in 2024, delivering a 32% total return. While the stock price rally has reduced the company's sensitivity to Fed rate cuts, it remains attractively valued relative to peers such as Independence Realty Trust. Q2 2024 results showed decelerating net operating income growth but also a turnaround in occupancy, ultimately resulting in a higher 2024 outlook. Key risks to consider include the REIT's +50% net operating income exposure to Minnesota and its conservative capital structure. jimkruger/E+ via Getty Images Introduction Centerspace ( NYSE: CSR ) has substantially outperformed the Vanguard Real Estate Index Fund ETF ( VNQ ) so far in 2024, delivering a 32% gain against the ~9% total return for the benchmark ETF: CSR vs VNQ in 2024 (Seeking Alpha) I also covered the shares back in June
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CSR
News
- Centerspace (NYSE: CSR) had its "outperform" rating re-affirmed by analysts at Royal Bank of Canada. They now have a $76.00 price target on the stock.MarketBeat
- Centerspace Reports Third Quarter 2024 Financial Results and Raises Mid-Point for 2024 Core FFO per Share GuidancePR Newswire
- Centerspace Q3 2024 Earnings Preview [Seeking Alpha]Seeking Alpha
- Centerspace (NYSE: CSR) was downgraded by analysts at Raymond James from an "outperform" rating to a "market perform" rating.MarketBeat
- CSR or AMH: Which Is the Better Value Stock Right Now? [Yahoo! Finance]Yahoo! Finance
CSR
Earnings
- 10/28/24 - Miss
CSR
Sec Filings
- 11/15/24 - Form 8-K
- 11/8/24 - Form SC
- 10/28/24 - Form 8-K
- CSR's page on the SEC website