Centerspace Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 30, 2023 at 04:38 pm EDT
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Centerspace reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 64.57 million compared to USD 65.44 million a year ago. Net income was USD 7.93 million compared to net loss of USD 0.363 million a year ago. Basic earnings per share from continuing operations was USD 0.41 compared to basic loss per share from continuing operations of USD 0.14 a year ago. Diluted earnings per share from continuing operations was USD 0.41 compared to diluted loss per share from continuing operations of USD 0.14 a year ago.
For the nine months, sales was USD 197.24 million compared to USD 188.87 million a year ago. Net income was USD 49.96 million compared to net loss of USD 11.62 million a year ago. Basic earnings per share from continuing operations was USD 2.98 compared to basic loss per share from continuing operations of USD 1.11 a year ago. Diluted earnings per share from continuing operations was USD 2.96 compared to diluted loss per share from continuing operations of USD 1.11 a year ago.
Centerspace is a real estate investment trust. The Company is focused on the ownership, management, acquisition, development, and redevelopment of apartment communities. The Company owns approximately 72 apartment communities consisting of 13,088 homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota. The Company conducts its daily business operations primarily through its operating partnership, Centerspace, LP (the Operating Partnership). The Companyâs portfolio of apartment communities includes 71 France, Alps Park Apartments, Arcata Apartments, Ashland Apartment Homes, Avalon Cove Townhomes, Burgundy & Hillsboro, Canyon Lake Apartments, Castlerock Apartment Homes, Cottonwood Apartment Homes, Country Meadows Apartment Homes, Deer Ridge Apartment Homes, Grand Gateway Apartment Homes, Homestead Garden Apartments, Silver Springs Apartment Homes, and Rimrock West Apartments, among others.
CENTERSPACE 
