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Centerspace: Q2 Earnings Snapshot
By AP News - Jul 29, 2024, 07:07 PM ET
Last Updated - Jul 29, 2024, 07:07 PM EDT
MINOT, N.D. (AP) — MINOT, N.D. (AP) — Centerspace (CSR) on Monday reported a key measure of profitability in its second quarter. The results surpassed Wall Street expectations.
The Minot, North Dakota-based real estate investment trust said it had funds from operations of $23 million, or $1.27 per share, in the period.
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The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of $1.20 per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had a loss of $2.9 million, or 19 cents per share.
The real estate investment trust, based in Minot, North Dakota, posted revenue of $65 million in the period.
Centerspace expects full-year funds from operations in the range of $4.78 to $4.92 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CSR at https://www.zacks.com/ap/CSR
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