Centerspace Trust (CSR)
NYSEReal EstateReit - ResidentialSnapshot 2026-09-09
$57.36+8.82%
Close 2026-09-09 · 1-day change
NYSEReal EstateReit - ResidentialSnapshot 2026-09-09
Broken: Primary pillar broken — EPS improves from -$0.91 to better than -$0.66 in 2026: FY26 EPS guidance $6.42-$6.82 vs >-$0.66 target.
Centerspace plans to sell $240 million in assets this year. This will improve its portfolio and strengthen its balance sheet. The company keeps paying a $0.77 dividend per share. Cash from operations was $21 million in the last quarter.
The company lost money last year and expects more losses this year. Revenue is barely growing, about 1% next year. Cash flow is falling, and earnings are negative. The recent selloff shows investors doubt the turnaround.
The price is about 19% below our fair value near $70. Analysts expect only about 1% revenue growth. Our view is cautious given the losses and soft guidance.
Breaks if: cash from operations falls below $18 million
Increase cash generated from operating activities to strengthen financial flexibility and support operations.
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a turnaround opportunity in the Real Estate sector. The current thesis is cautious, given the company's recent financial performance and the potential for future volatility.
The market appears to have priced in a neutral valuation relative to peers, indicating a lack of strong expectations for significant growth. The current valuation suggests that CSR is seen as somewhat cheap compared to its competitors.
Fundamentals may improve slightly as management focuses on portfolio optimization and cash flow. However, the company has a high probability of missing earnings expectations, which could impact sentiment in the near term.
The long-term thesis hinges on management's ability to execute its deleveraging plan and maintain dividend payouts. Additionally, external factors such as Federal Reserve rate cuts and performance of sector leaders will play a crucial role in shaping CSR's trajectory.
The most important moves since the prior daily snapshot.
Yes, our read has strengthened. The merger announcement enhances portfolio optimization and growth potential. The sale of apartment communities also supports portfolio optimization and deleveraging efforts. There are no new threats to the thesis.
as of 2026-09-09
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Stated as a priority in 2 of last 6 quarters. Cash from operating activities was $25.4 million in 2025-Q1 and $21.4 million in 2026-Q1, showing a decline. While management emphasizes improving cash flow, the financial data shows limited progress in this area recently.
“Cash from operating activities was $21.4 million (2026-Q1 financials).”
“Cash from operating activities was $25.4 million (2025-Q1 financials).”
Breaks if: dividend per share falls below $0.70
Continue paying a regular quarterly distribution of $0.77 per share/unit to shareholders and unitholders.
Stated as a priority in 4 of last 4 quarters. The company has consistently declared and paid a quarterly dividend of $0.77 per share/unit from 2025-Q3 through 2026-Q2, demonstrating stable capital return to shareholders. This priority is being delivered as evidenced by consistent dividend payments.
“Declared quarterly distribution of $0.77 per share/unit payable July 14, 2026 (2026-06-01 press_release).”
“Dividend per share maintained at $0.77 (2026-Q1 financials).”
“Dividend per share was $0.77 (2025-Q4 financials).”
“Dividend per share was $0.77 (2025-Q3 financials).”
Breaks if: EPS falls below -$0.95 per share in 2026
Increase cash generated from operating activities to strengthen financial flexibility and support operations.
Stated as a priority in 2 of last 6 quarters. Cash from operating activities was $25.4 million in 2025-Q1 and $21.4 million in 2026-Q1, showing a decline. While management emphasizes improving cash flow, the financial data shows limited progress in this area recently.
“Cash from operating activities was $21.4 million (2026-Q1 financials).”
“Cash from operating activities was $25.4 million (2025-Q1 financials).”
Breaks if: asset sales fall below $200 million by 2026-Q2
In the next 1-3 years, CSR's performance will depend on effective management execution and favorable market conditions. Not investment advice.