Centerspace Declares $0.77 Quarterly Dividend

Centerspace announced a quarterly distribution of $0.77 per share to common shareholders and unitholders. The payment will be made on April 14, 2026, to shareholders of record as of March 30, 2026. Read more dividend announcements.

The apartment community operator's dividend declaration comes as the company reports net income of $1.02 per diluted share for the year ended December 31, 2025, a significant turnaround from a net loss of $1.27 per diluted share in 2024.

Full-Year 2025 Performance

The company's Core Funds From Operations increased to $4.93 per diluted share for 2025, up from $4.88 per share in 2024. Operating income climbed to $64.5 million, compared to $20.5 million in the prior year.

Same-store net operating income grew 3.5% year-over-year, driven by same-store revenue growth of 2.4%.

Portfolio Activity

During 2025, Centerspace acquired two apartment communities — Sugarmont in Salt Lake City and Railway Flats in Loveland, Colorado — for an aggregate purchase price of $281.2 million, including the assumption of $76.5 million in mortgage debt.

The company divested twelve non-core Minnesota apartment communities and one corporate office building for a combined $215.5 million. Centerspace also repurchased 62,973 shares at an average price of $54.86 per share, including commissions.

Liquidity and 2026 Outlook

At December 31, 2025, the company reported total liquidity of $267.9 million, consisting of $255.1 million available on its lines of credit and $12.8 million in cash and cash equivalents.

For 2026, Centerspace projects Core FFO per diluted share between $4.81 and $5.05, compared to $4.93 in 2025. The company expects same-store capital expenditures of $1,250 to $1,350 per home and value-add expenditures of $2.5 million to $12.5 million.

In November, Centerspace's Board of Trustees initiated a review of strategic alternatives to maximize shareholder value. The review remains ongoing with no definitive timetable.