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Centerspace: Q4 Earnings Snapshot
By AP News - Feb 18, 2025, 04:56 PM ET
Last Updated - Feb 18, 2025, 04:56 PM EST
MINOT, N.D. (AP) — MINOT, N.D. (AP) — Centerspace (CSR) on Tuesday reported a key measure of profitability in its fourth quarter. The results topped Wall Street expectations.
The real estate investment trust, based in Minot, North Dakota, said it had funds from operations of $24 million, or $1.21 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 $1.18 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 $5.1 million, or 31 cents per share.
The real estate investment trust, based in Minot, North Dakota, posted revenue of $66.4 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $65.5 million.
For the year, the company reported funds from operations of $91.3 million. Revenue was reported as $261 million.
Centerspace expects full-year funds from operations in the range of $4.86 to $5.10 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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