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Centerspace (CSR) 10-Year Financial Performance & Capital Metrics

CSR • • REIT / Real Estate
Real EstateResidential REITsMultifamily ApartmentsRegional Multifamily Specialists
AboutCenterspace is an owner and operator of apartment communities committed to providing great homes by focusing on integrity and serving others. Founded in 1970, as of June 30, 2021, Centerspace owned 62 apartment communities consisting of 11,579 apartment homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota. Centerspace was named a Top Workplace for 2021 by the Minneapolis Star Tribune. For more information, please visit www.centerspacehomes.com.Show more
  • Revenue $261M -0.1%
  • FFO $97M -33.2%
  • FFO/Share 6.25 -26.2%
  • FFO Payout 47.22% +56.7%
  • FFO per Share 6.25 -26.2%
  • NOI Margin 56.94% +1.8%
  • FFO Margin 37.15% -33.1%
  • ROE -1.16% -126.4%
  • ROA -0.56% -126.3%
  • Debt/Assets 49.92% +5.0%
  • Net Debt/EBITDA 7.36 +52.2%
  • Book Value/Share 57.99 +4.7%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Sustainable FFO payout ratio of 47.2%
  • ✓Healthy dividend yield of 4.6%
  • ✓Share count reduced 9.4% through buybacks
  • ✓Trading at only 1.1x book value

✗Weaknesses

  • ✗Weak 3Y average ROE of 0.6%

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-0.17%
5Y7.04%
3Y8.97%
TTM5.73%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-57.12%

EPS CAGR

10Y-
5Y-
3Y-
TTM242.53%

ROCE

10Y Avg1.51%
5Y Avg2.21%
3Y Avg2.15%
Latest1.12%

Peer Comparison

Regional Multifamily Specialists
Select Columns
Size & Scale
Valuation
Per Share
Growth
Profitability
Quality & Returns
Safety & Leverage
TTM Growth
Famous Investor Metrics
Dividends
Latest Quarter
Momentum & Returns
Total Return (DRIP)
Technical
Volume & Trading
Shares & Dilution
Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
NXRTNexPoint Residential Trust, Inc.799.74M31.53745.39-6.42%-19.38%-14.83%9.2%3.52
IRTIndependence Realty Trust, Inc.4.08B17.08100.47-3.17%3.42%0.62%2.07%0.65
ESSEssex Property Trust, Inc.16.33B253.5221.976.29%45.46%14.52%5.71%1.16
BRTBRT Apartments Corp.285.88M15.03-28.902.15%-10.08%-5.19%6.29%2.36
CSRCenterspace1.08B64.63-50.89-0.12%-7.91%-2.46%9.1%1.06

Profit & Loss

Apr 2015Apr 2016Apr 2017Apr 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Revenue+204.51M188.32M205.74M169.75M185.75M177.99M201.71M256.72M261.31M260.98M
Revenue Growth %-0.23%-0.08%0.09%-0.17%0.09%-0.04%0.13%0.27%0.02%-0%
Property Operating Expenses107.65M79.1M88.36M78.56M84.5M78.96M90.61M118.53M115.17M112.37M
Net Operating Income (NOI)+----------
NOI Margin %----------
Operating Expenses+33.9M63.33M70.88M96.27M88.72M65.19M81.2M124.32M61.69M128.14M
G&A Expenses11.82M11.27M12.07M14.2M14.45M13.44M16.21M17.52M20.08M17.8M
EBITDA+129.49M198.75M41.21M148.27M184.64M110.44M123M120.07M187.63M128.12M
EBITDA Margin %----------
Depreciation & Amortization+72.08M159.24M55.01M171.97M173.22M76.6M93.11M106.21M103.17M107.65M
D&A / Revenue %----------
Operating Income+57.41M39.52M-13.8M-23.7M11.42M33.84M29.89M13.86M84.45M20.48M
Operating Margin %----------
Interest Expense+28.42M34.31M41.13M34.18M30.54M29.08M31.99M32.75M36.43M37.28M
Interest Coverage2.02x1.15x-0.34x-0.69x0.37x1.16x0.93x0.42x2.32x0.55x
Non-Operating Income1.92M-1.89M-20.69M-34.54M-6.32M23K0-1.25M-1.21M-2.61M
Pretax Income+26.39M19.28M-38.15M-37.19M84.82M4.74M-2.1M-17.64M49.23M-14.19M
Pretax Margin %----------
Income Tax+4.61M-59.31M-36.8M-154.55M000000
Effective Tax Rate %----------
Net Income+24.09M72.01M43.35M116.79M48.67M5.08M611K-13.47M41.97M-10.69M
Net Margin %----------
Net Income Growth %2.83%1.99%-0.4%1.69%-0.58%-0.9%-0.88%-23.04%4.12%-1.25%
Funds From Operations (FFO)+----------
FFO Margin %----------
FFO Growth %0.67%1.4%-0.57%1.94%-0.23%-0.63%0.15%-0.01%0.57%-0.33%
FFO per Share+----------
FFO Payout Ratio %----------
EPS (Diluted)+1.795.303.588.683.69-1.91-2.00-0.992.32-1.27
EPS Growth %2.72%1.96%-0.32%1.42%-0.57%-1.52%-0.05%0.51%3.34%-1.55%
EPS (Basic)2.045.303.589.734.14-1.91-2.27-0.992.65-1.27
Diluted Shares Outstanding13.46M13.57M12.12M13.46M13.18M12.56M15.7M15.22M17.12M15.5M

Balance Sheet

Apr 2015Apr 2016Apr 2017Apr 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Assets+2B1.76B1.47B1.43B1.39B1.46B1.94B2.03B1.93B1.91B
Asset Growth %0.07%-0.12%-0.16%-0.03%-0.02%0.05%0.33%0.05%-0.05%-0.01%
Real Estate & Other Assets+1.85B-23.48M1.39B1.4B1.3B1.41B1.83B2B1.89B1.86B
PP&E (Net)1.54M1.01M901K820K1.28M2.67M3.37M3.12M2.8M2.54M
Investment Securities329K50K0818K1000K00000
Total Current Assets+543.8M304.55M85.13M26.45M84.62M44.86M98.81M27.01M30.04M51.91M
Cash & Equivalents48.97M66.7M28.82M11.89M26.58M392K31.27M10.46M8.63M12.03M
Receivables1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Assets225.99M315.89M4.22M2.83M19.54M6.92M7.36M9.91M13.76M5.72M
Intangible Assets26.21M1.86M658K1.47M1.21M1.15M7.37M2.11M2.72M1.98M
Total Liabilities1.26B1.04B838.42M739.16M695.96M774.8M918.45M1.07B978.78M1.01B
Total Debt+872.72M916.95M760.83M703.43M648.8M719.19M856.05M1.01B916.02M955.38M
Net Debt823.75M850.26M732.01M691.54M622.22M718.8M824.78M997.17M907.39M943.36M
Long-Term Debt812.22M664.77M703.78M579.43M598.72M566.32M780.05M894.13M886.02M908.03M
Short-Term Borrowings1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Capital Lease Obligations138.67M111.36M099.46M0000110.09M0
Total Current Liabilities+438.29M134.94M127.46M153.02M97.23M208.48M138.4M172.31M92.75M106.68M
Accounts Payable39.73M35.57M039.22M000062.75M0
Deferred Revenue-39.73M-35.57M0-39.22M000000
Other Liabilities6.37M242.21M7.18M6.71M000000
Total Equity+740.95M718.26M636.09M687.5M696.46M689.38M1.02B966.86M947.59M899M
Equity Growth %0.03%-0.03%-0.11%0.08%0.01%-0.01%0.48%-0.05%-0.02%-0.05%
Shareholders Equity652.11M618.76M560.94M613.41M635.61M634.77M797.36M746.1M726.39M670.46M
Minority Interest88.84M99.5M75.16M74.09M60.85M54.62M224.25M220.76M221.19M228.54M
Common Stock951.87M922.08M916.12M907.84M917.4M968.26M1.16B1.18B1.17B1.27B
Additional Paid-in Capital00900.1M0000000
Retained Earnings-438.43M-442M-466.54M-395.67M-390.2M-427.68M-474.32M-539.42M-548.27M-615.24M
Preferred Stock138.67M138.67M111.36M99.46M116.02M110.09M118.86M110.09M110.09M16.56M
Return on Assets (ROA)0.01%0.04%0.03%0.08%0.03%0%0%-0.01%0.02%-0.01%
Return on Equity (ROE)0.03%0.1%0.06%0.18%0.07%0.01%0%-0.01%0.04%-0.01%
Debt / Assets0.44%0.52%0.52%0.49%0.47%0.49%0.44%0.5%0.48%0.5%
Debt / Equity1.18x1.28x1.20x1.02x0.93x1.04x0.84x1.04x0.97x1.06x
Net Debt / EBITDA6.36x4.28x17.76x4.66x3.37x6.51x6.71x8.31x4.84x7.36x
Book Value per Share55.0552.9152.5051.0852.8354.8765.0563.5455.3657.99

Cash Flow

Apr 2015Apr 2016Apr 2017Apr 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+114.18M66.49M73.93M48.03M69.62M61.23M84.03M91.99M89.52M98.25M
Operating CF Growth %0.23%-0.42%0.11%-0.35%0.45%-0.12%0.37%0.09%-0.03%0.1%
Operating CF / Revenue %----------
Net Income28.68M76.6M30.52M127.63M84.82M4.74M-2.1M-17.64M41.97M-14.19M
Depreciation & Amortization72.08M65.45M56.61M91.8M75.41M76.6M93.11M106.21M103.17M107.65M
Stock-Based Compensation2.26M6K1.59M1.27M1.91M2.11M2.69M2.62M3.29M3.01M
Other Non-Cash Items979K-65.77M-13.12M1.46M-253K1.31M4.66M804K-56.04M5.23M
Working Capital Changes10.22M-12.05M-95K-9.43M3.01M-3.76M10.35M5K-2.87M-3.46M
Cash from Investing+-176.41M134.25M202.26M104.19M7.01M-164.97M-267.23M-160.09M120.21M-50.72M
Acquisitions (Net)366.96M232.74M00-1.26M-12.22M328.06M161.31M00
Purchase of Investments41.19M1.49M0-1.9M-6.94M-179K-292.18M-104.67M00
Sale of Investments-1000K279K50K-1000K1000K1000K1000K41K01000K
Other Investing-211.34M132.48M202.21M223.24M-65.5M-126.11M-301.04M-160.09M120.21M-69.54M
Cash from Financing+63.93M-183.02M-314.07M-169.15M-49.77M64.93M214.51M41.37M-212.35M-43.67M
Dividends Paid-71.58M-66.65M0-32.76M-40.09M-42.21M-45.55M-51.53M-50.81M-51.25M
Common Dividends-60.06M-55.91M-33.69M-32.76M-32.89M-35.05M-38.49M-44.46M-43.74M-45.79M
Debt Issuance (Net)-1000K-1000K-1000K-1000K-386K1000K1000K1000K-1000K1000K
Share Repurchases-35M-4.5M-9.94M-133.73M-26.17M-5.68M0-33.2M-11.58M-4.7M
Other Financing-19.33M-12.03M-5.26M-995.5K-5.14M37.77M-9.09M-13.41M-9.71M-9.25M
Net Change in Cash+1.7M17.73M-37.88M-16.93M26.86M-38.81M31.32M-26.73M-2.62M3.86M
Exchange Rate Effect0000000000
Cash at Beginning47.27M48.97M66.7M28.82M19.26M46.12M7.31M38.63M11.89M9.27M
Cash at End48.97M66.7M28.82M11.89M46.12M7.31M38.63M11.89M9.27M13.13M
Free Cash Flow+85.2M24.3M73.93M36.52M48.67M30.91M48.15M35.3M89.52M98.25M
FCF Growth %-0.08%-0.71%2.04%-0.51%0.33%-0.36%0.56%-0.27%1.54%0.1%
FCF / Revenue %----------

Key Ratios

Metric2015201620172018201920202021202220232024
FFO per Share7.1417.048.1221.4516.836.55.976.098.486.25
FFO Payout Ratio62.46%24.18%34.25%11.34%14.82%42.91%41.07%47.94%30.14%47.22%
NOI Margin47.36%58%57.05%53.72%54.51%55.64%55.08%53.83%55.93%56.94%
Net Debt / EBITDA6.36x4.28x17.76x4.66x3.37x6.51x6.71x8.31x4.84x7.36x
Debt / Assets43.68%52.09%51.6%49.31%46.6%49.12%44.12%49.56%47.55%49.92%
Interest Coverage2.02x1.15x-0.34x-0.69x0.37x1.16x0.93x0.42x2.32x0.55x
Book Value / Share55.0552.9152.551.0852.8354.8765.0563.5455.3657.99
Revenue Growth-22.96%-7.92%9.25%-17.49%9.43%-4.18%13.32%27.27%1.79%-0.12%

Revenue by Segment

2015201620172018201920202021202220232024
Multi Family Residential118.53M131.15M144.74M159.98M----246.36M257.87M
Multi Family Residential Growth-10.65%10.37%10.53%-----4.67%
Others---9.76M----14.95M-
Others Growth----------
Other Property Revenue----3.46M2.81M3.69M5.4M--
Other Property Revenue Growth------18.94%31.39%46.31%--
Non-Lease Components----------
Non-Lease Components Growth----------
Commercial Medical66.23M45.62M49.86M-------
Commercial Medical Growth--31.12%9.28%-------
All Others-11.55M11.14M-------
All Others Growth---3.56%-------
Commercial Office74.98M---------
Commercial Office Growth----------
Retail Property13.45M---------
Retail Property Growth----------
Commercial Industrial6.49M---------
Commercial Industrial Growth----------

Frequently Asked Questions

Growth & Financials

Centerspace (CSR) reported $273.4M in revenue for fiscal year 2024. This represents a 15% increase from $237.4M in 2011.

Centerspace (CSR) saw revenue decline by 0.1% over the past year.

Centerspace (CSR) reported a net loss of $21.6M for fiscal year 2024.

Dividend & Returns

Yes, Centerspace (CSR) pays a dividend with a yield of 4.57%. This makes it attractive for income-focused investors.

Centerspace (CSR) has a return on equity (ROE) of -1.2%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Centerspace (CSR) generated Funds From Operations (FFO) of $90.8M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Centerspace (CSR) offers a 4.57% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

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