MARKETS / NYSE / CSR

NYSE · REAL ESTATE INVESTMENT TRUSTS · LARGE CAP

Centerspace CSR

17 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$273.7M

▲ 4.9% YoY

Net income

$17.1M

In brief

What this company does

As of December 31, 2025, it owned 61 apartment communities, containing 12,262 homes and having a total real estate investment amount, net of accumulated depreciation, of $1.9 billion. As of December 31, 2025, it had 349 employees, consisting of 334 full-time and 15 part-time employees, across multiple states. Its corporate headquarters is located in Minot, North Dakota, and it also has a corporate office in Minneapolis, Minnesota. On February 1, 1997, the company was restructured as an Umbrella Partnership Real Estate Investment Trust and conducts its daily business operations primarily through its operating partnership, Centerspace, LP. The sole general partner of Centerspace, LP is Centerspace, Inc., a North Dakota corporation and the company's wholly owned subsidiary. The company was organized under the laws of North Dakota on July 31, 1970, and has operated as a REIT under Sections 856-858 of the Internal Revenue Code of 1986, as amended, since its formation.

Written from the business description in CENTERSPACE's annual report to the U.S. Securities and Exchange Commission, filed 17 February 2026. Every sentence was checked against that document before publication.

Growth

USD 273.7M

Revenue, FY2025 · full 17-year series below

Revenue $M Net income $M

FY2025 · Revenue 273.7 · Net income 17.1

Compound annual growth

Revenue

+2.2%

+9.0%

+6.5%

+1.0%

Net income

+31.0%

−13.4%

−1.1%

Dividend / share

+1.8%

+1.9%

Returned to shareholders

+7.0%

+9.2%

−5.4%

+1.6%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +9.0% a year over five years — but profit grew faster: net income at +31.0%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

8 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 23.6% · Net 8.4%

ROE

FY2025 · ROE 2.3%

Gross margin96.5%

Operating margin23.6%

Net margin8.4%

Return on assets1.2%

EBITDAUSD 179.2M

Each USD of equity produced 2 cents of profit this year.

Cash & shareholders

USD 54.5M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2023 · FCF 89.5

Net buybacks $M Dividends $M

FY2025 · Dividends 51.1 · Net buybacks 3.5

Dividends paidUSD 51.1M

Net buybacksUSD 3.5M

Share of profit318.9%

Consecutive raises2 years

USD 51.1M in dividends and USD 3.5M in buybacks — 319% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 1.9B

EquityUSD 719.2M

CashUSD 12.8M

Gross debtUSD 1.0B

Net debtUSD 1.0B

Net debt stands at 140% of equity.

The 17-year record

17 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Revenue $B	0.3	0.3	0.3	0.3	0.2	0.2	0.2	0.1	0.2	0.2	0.1	0.2	0.2	0.2	0.2	0.2	0.2
Operating income $B	0.1	0.0	0.1	0.0	0.0	0.0	0.1	·	−0.0	−0.0	0.0	0.0	0.0	0.1	0.1	0.1	·
EBITDA $B	0.2	0.1	0.2	0.1	0.1	0.1	0.2	·	0.1	0.0	0.1	0.1	0.1	0.1	0.1	0.1	·
Income tax $B	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·
Net income $B	0.0	−0.0	0.0	−0.0	−0.0	0.0	0.1	·	0.1	0.0	0.1	0.0	−0.0	0.0	0.0	0.0	0.0
Free cash flow $B	·	·	0.1	0.1	0.1	0.1	−0.1	·	−0.3	0.1	−0.1	0.1	0.1	0.0	0.0	0.0	−0.0
EPS, diluted $	1.02	−1.27	2.32	−1.35	−0.47	−0.15	6.00	·	8.71	2.58	0.49	0.11	−0.23	0.17	0.07	0.22	·
Dividend / sh $	3.08	3.00	2.92	2.92	2.84	2.80	2.80	·	2.80	4.60	·	·	·	·	0.56	0.69	0.68
Payout %	299	−404	106	−315	−132714	789	42	·	29	129	83	190	−309	143	444	215	933
ROE %	2.3	−1.5	5.7	−1.9	−0.0	0.7	13.2	·	20.0	7.3	11.3	3.9	−2.2	4.9	1.9	4.9	·
Shares out B	0.02	0.02	0.01	0.02	0.02	0.01	0.01	0.01	0.01	0.12	0.12	0.12	0.11	0.10	0.09	0.08	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 48 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 17 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityReal Estate Investment Trusts

Listed onNYSE

Incorporated inNorth Dakota

Fiscal year endsDecember 31

Data on record since2009