Exhibit 99.1 | --- | --- | --- | --- | |--------------------------------------------------------|-------|-------|-------| | | | | | | | | | | | 3rd Quarter 2024 // Quarter Ended September 30, 2024 | | | | | EARNINGS RELEASE AND SUPPLEMENTAL | | | | | OPERATING & FINANCIAL DATA | | | | | | | | | | | | | | | | | | | | The Lydian // Denver, CO ප්‍රි centerspace | | | | Earnings Release Centerspace Reports Third Quarter 2024 Financial Results and Raises Mid-Point for 2024 Core FFO per Share Guidance MINNEAPOLIS ...

MINNEAPOLIS, Oct. 28, 2024 /PRNewswire/ -- Centerspace (NYSE: CSR) announced today its financial and operating results for the three and nine months ended September 30, 2024. The tables below show Net Income (Loss), Funds from Operations ("FFO")1, and Core FFO1, all on a per diluted share basis, for the three and nine months ended September 30, 2024; Same-Store Revenues, Expenses, and Net Operating Income ("NOI")1 over comparable periods; along with SameStore Weighted-Average Occupancy and leasing rates for ...

Financial Performance - For the three months ended September 30, 2024, revenue increased by $457,000 or 0.7% to $65.0 million compared to $64.6 million for the same period in 2023[128]. - Same-store revenues increased by 3.0% for the three months ended September 30, 2024, contributing to a 2.8% increase in same-store NOI[129]. - Non-GAAP Core Funds from Operations (Core FFO) for the three months ended September 30, 2024, increased by $245,000 or 1.1% to $22.0 million compared to $21.7 million for the same period in 2023[132]. - The net loss was $0.40 per diluted share for the three months ended September 30, 2024, compared to net income of $0.41 per diluted share for the same period in the prior year[131]. - Net operating income (NOI) for the three months ended September 30, 2024, was $38.4 million, reflecting a 1.4% increase from $37.8 million in the same period of 2023[138]. - Total revenue for the three months ended September 30, 2024, was $65.025 million, a 0.7% increase from $64.568 million in Q3 2023[141]. - Net income (loss) for Q3 2024 was $(1.951) million, a decrease of 121.3% compared to net income of $9.169 million in Q3 2023[141]. - Net loss available to common shareholders decreased to $14.6 million for the nine months ended September 30, 2024, compared to net income of $44.7 million in the same period in the prior year[165]. - FFO applicable to common shares for the nine months ended September 30, 2024, increased to $61.7 million, representing an increase of 8.0% compared to the prior year[173]. - Core FFO applicable to common shares and units for the three months ended September 30, 2024, was $21,969 thousand, slightly up from $21,724 thousand in 2023[175]. Property Management and Operations - The company owned interests in 70 apartment communities consisting of 12,883 apartment homes, with property valued at $2.4 billion[126]. - The company disposed of two apartment communities consisting of 205 apartment homes during the nine months ended September 30, 2024, compared to thirteen communities with 2,279 homes in the same period of 2023[136]. - Property management expenses for the three months ended September 30, 2024, were $2.2 million, a 2.0% increase from $2.2 million in the same period of 2023[138]. - General and administrative expenses increased by 7.0% to $4.1 million for the three months ended September 30, 2024, compared to $3.8 million for the same period in 2023[138]. - Same-store revenue increased by 3.0%, or $1.8 million, for the three months ended September 30, 2024, compared to the same period in the prior year[144]. - Weighted average occupancy for same-store properties rose to 95.3% in Q3 2024 from 94.6% in Q3 2023[143]. - Property operating expenses for same-store communities increased by 3.2%, or $807,000, in Q3 2024 compared to Q3 2023[144]. - Same-store net operating income (NOI) increased by $1.0 million to $36.8 million for the three months ended September 30, 2024, compared to $35.8 million in the same period of the prior year[144]. Revenue and Expenses - Revenue from same-store communities increased by 3.3%, or $6.0 million, for the nine months ended September 30, 2024, compared to the same period in the prior year[145]. - Same-store NOI increased by $4.5 million to $112.5 million for the nine months ended September 30, 2024, compared to $108.0 million in the same period of the prior year[145]. - Revenue from non-same-store communities increased by $5.5 million for the nine months ended September 30, 2024, compared to the same period in the prior year[147]. - NOI at non-same-store communities increased by $3.8 million for the nine months ended September 30, 2024, compared to the same period in the prior year[147]. - Revenue from dispositions decreased by $13.9 million for the nine months ended September 30, 2024, compared to the same period in the prior year[150]. - General and administrative expenses decreased by 17.7% to $12.9 million for the nine months ended September 30, 2024, compared to $15.7 million in the same period of the prior year[158]. - Interest expense was comparable at $27.5 million for the nine months ended September 30, 2024, and 2023[162]. - Casualty loss decreased to $918,000 for the nine months ended September 30, 2024, compared to $1.2 million in the same period of the prior year[154]. Capital and Financing - The company issued approximately 1.5 million common shares for $105.1 million under its at-the-market offering program, using proceeds to redeem all outstanding Series C preferred shares for $97.0 million[130]. - Total liquidity as of September 30, 2024, was approximately $235.5 million, including $221.0 million available on lines of credit and $14.5 million in cash[183]. - The company had $39.0 million outstanding on its revolving line of credit, with additional borrowing availability of $211.0 million[184]. - The company had a multibank revolving line of credit with total commitments of $250.0 million, which matures in July 2028[184]. - The company issued $175.0 million in unsecured senior promissory notes, with an amended shelf agreement extending borrowing capacity to $300.0 million[187]. - The company has a $198.9 million Fannie Mae Credit Facility Agreement, secured by mortgages on 11 apartment communities, with a blended average interest rate of 2.78%[188]. - Mortgage loan indebtedness, excluding the FMCF, was $387.3 million as of September 30, 2024, down from $392.3 million at December 31, 2023[189]. - The company redeemed all 3.9 million Series C preferred shares for an aggregate price of $97.0 million on September 30, 2024[190]. - The company amended its equity distribution agreement to increase the maximum aggregate offering price of common shares from $250.0 million to $500.0 million[191]. - During the nine months ended September 30, 2024, the company generated $112.2 million in net proceeds from the issuance of common shares[196]. - The company has a share repurchase program authorized for up to $50.0 million, with $4.7 million remaining as of September 30, 2024[193]. - The company funded capital improvements for apartment communities of approximately $47.4 million during the nine months ended September 30, 2024[196]. - The weighted average interest rate on mortgage debt was 4.05% as of September 30, 2024[189]. Market and Operational Challenges - The company continues to monitor supply chain challenges and inflationary pressures that may increase operating expenses[200]. - The Company is currently not involved in any material pending legal proceedings, aside from ordinary routine litigation incidental to its business operations[212].

Investors interested in REIT and Equity Trust - Residential stocks are likely familiar with Centerspace (CSR) and American Homes 4 Rent (AMH) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look. Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank is a proven strategy that targ ...

Shares of Centerspace (CSR) have been struggling lately and have lost 5% over the past four weeks. However, a hammer chart pattern was formed in its last trading session, which could mean that the stock found support with bulls being able to counteract the bears. So, it could witness a trend reversal down the road. While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts about the future ea ...

MINNEAPOLIS, Oct. 7, 2024 /PRNewswire/ -- Centerspace (NYSE: CSR) will release its operating results for the quarter ended September 30, 2024, after the market closes on Monday, October 28, 2024. Management will host a conference call to discuss those results on the following day, Tuesday, October 29, 2024, at 10:00 a.m. Eastern Time. Interested parties may access the conference call via the following: Live Conference Call Details: Live webcast: https://events.q4inc.com/attendee/841168447 Operator Assisted ...

MINNEAPOLIS, Oct. 2, 2024 /PRNewswire/ -- Centerspace (NYSE: CSR) announced that on October 1, 2024, it closed on the acquisition of The Lydian in Denver, CO, for total consideration of $54 million. Centerspace also announced the completed redemption of all outstanding 6.625% Series C Cumulative Redeemable Preferred Shares on September 30, 2024. The Company also announced that year-to-date through September 30, 2024, it has sold approximately 1.59 million shares under its ATM program. Gross proceeds from th ...

T E Svetlana123 Centerspace (NYSE:CSR), incorporated in 1970 and headquartered in Minot, ND, owns and operates multifamily properties primarily in Minnesota and Colorado. The growth of its business in the past leaves much to be desired, and the returns have been underwhelming. However, the markets in which the REIT mainly operates suggest a good outlook, even though rent growth is decelerating. More importantly, the shares are greatly undervalued, but leverage is not very high, liquidity is adequate, and it ...

MINNEAPOLIS, Sept. 3, 2024 /PRNewswire/ -- (NYSE: CSR) Centerspace's (the "Company") Board of Trustees announced today that it has declared a regular quarterly distribution of $0.75 per share/unit, payable on October 10, 2024, to common shareholders and unitholders of record at the close of business on September 30, 2024. The Board of Trustees also declared a distribution of $0.4140625 per share on the 6.625% Series C Cumulative Redeemable Preferred Shares (NYSE: CSR-PRC), payable on September 30, 2024, to ...

Amsterdam and Almaty, 2 September 2024 – VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital operator that provides connectivity and online services ("VEON" or the "Company"), announces that its digital operator Beeline Kazakhstan, through its Corporate Foundation Zhyly Zhurek, is supporting digital skills development in Kazakhstan with the inauguration of a newly-constructed secondary school with high-end technology facilities. The newly built school in the village of Shelek, near Almaty, ...