Skip to main content
You have permission to edit this article.
Edit
Centerspace: 4Q Earnings Snapshot
AP

Centerspace: 4Q Earnings Snapshot

  • Updated
  • 0
{{featured_button_text}}

MINOT, N.D. (AP) — Centerspace (CSR) on Monday reported a key measure of profitability in its fourth quarter. The results surpassed Wall Street expectations.

The Minot, North Dakota-based real estate investment trust said it had funds from operations of $14.5 million, or $1.02 per share, in the period.

The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 89 cents 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 $6 million, or 46 cents per share.

The real estate investment trust posted revenue of $45.5 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $45 million.

For the year, the company reported funds from operations of $52.3 million, or $3.78 per share. Revenue was reported as $178 million.

Centerspace expects full-year funds from operations in the range of $3.29 to $3.62 per share.

The company's shares have climbed 0.5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $71, a drop of slightly more than 7% in the last 12 months.

—————

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

Copyright by Automated Insights, Inc. All rights reserved.

The business news you need

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.

Related to this story

Most Popular

LAMAR – Stepping through the front door of Lamar’s newest restaurant on Main Street, guests will experience “A Lil’ Tast’a Cajun” from the Louisiana swamp scene painted on the walls to the smell of Cajun food wafting from the kitchen to the dining room where Cajun-style music plays.

Get up-to-the-minute news sent straight to your device.

Topics

Breaking News

News Alert