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, ...

jimkruger/E+ via Getty Images Introduction Centerspace (NYSE:CSR) has substantially outperformed the Vanguard Real Estate Index Fund ETF (VNQ) so far in 2024, delivering a 32% gain against the ~9% total return for the benchmark ETF: CSR vs VNQ in 2024 (Seeking Alpha) I also covered the shares back in June 2024 arguing they were undervalued thanks to robust net operating income (NOI) growth, and an attractive enterprise-level valuation. After examining the REIT's Q2 2024 results I see that while leverage has ...

Financial Data and Key Metrics Changes - The company reported core FFO of $1.27 per diluted share for Q2 2024, reflecting stable revenue growth and disciplined expense management [13][25]. - Same-store revenue increased by 3.4% year-over-year, driven by a 3.3% increase in revenue per occupied home and a 10 basis point increase in weighted average occupancy to 95.3% [17][26]. - Property operating expenses rose by 5.1% year-over-year, primarily due to higher repairs and maintenance costs and increased insurance premiums [27]. Business Line Data and Key Metrics Changes - Same-store new lease trade outs averaged 3.5% during the quarter, with renewal rates also averaging 3.5% [18]. - The company experienced a leveling off of new lease pricing in July, with blended trade outs expected to be around 2.8% [19]. - Resident retention rates exceeded projections, aiding in maintaining occupancy and driving rental rates [20]. Market Data and Key Metrics Changes - The company noted a muted supply profile across its portfolio, with Denver having the highest levels of supply at 6.7% of existing stock under construction [52]. - In Minneapolis, the supply pipeline has been tapering, currently at 3.6% of existing stock under construction, down from 6% in mid-2023 [52]. - Secondary Midwest markets showed little to no supply, with pipelines ranging from 0.5% to 4.5% of existing stock [52]. Company Strategy and Development Direction - The company aims to be a premier provider of apartment homes and vibrant communities, focusing on consistent earnings growth for investors [16]. - There is a strategic shift towards acquisitions due to high construction costs and tighter capital for development deals [3]. - The company is optimistic about its cost of capital and ability to execute on external growth despite economic volatility and higher interest rates [23]. Management's Comments on Operating Environment and Future Outlook - Management raised the midpoint of full-year earnings guidance by $0.02 to $4.85 per share, reflecting confidence in current trends [22]. - The company does not anticipate additional transactions in 2024, focusing instead on optimizing existing operations [24]. - Management expressed cautious optimism regarding acquisition opportunities, noting a recent uptick in transaction activity [42]. Other Important Information - The company issued shares on its ATM program, raising approximately $37 million to reduce leverage, contrasting with previous stock buybacks [14][34]. - A recast of the line of credit was completed, extending maturity to 2028, which strengthens the balance sheet [15][36]. Q&A Session Summary Question: What is the strategy behind equity issuances? - The company uses equity issuance to pay down higher-rate floating debt, balancing leverage with growth opportunities [41]. Question: What acquisition opportunities are being seen? - Transaction volume remains down significantly, but there has been an uptick in activity, particularly in Denver and Minneapolis, with pricing in the 5% to 5.25% cap range [42]. Question: What are the supply issues faced in the portfolio? - The highest supply issues are in Denver, with 6.7% of existing stock under construction, while Minneapolis has seen a tapering supply pipeline [52]. Question: How is the company addressing lower occupancy in Omaha? - Lower occupancy in Omaha is attributed to ongoing value-add projects, with expectations of improvement post-renovation [53]. Question: What is the outlook for revenue growth in the second half of the year? - The company expects to maintain similar blended rates as the first half, with improved occupancy and lesser use of concessions compared to the previous year [55].

Over the last four quarters, the company has surpassed consensus FFO estimates four times. Centerspace shares have added about 20.9% since the beginning of the year versus the S&P 500's gain of 14.5%. There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately. It will be interesting to see ...

2nd Quarter 2024 // Quarter Ended June 30, 2024 Sunset Trail // Rochester, MN Exhibit 99.1 Centerspace Reports Second Quarter 2024 Financial Results and Raises Mid-Point for 2024 Core FFO per Share Guidance | --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------------|-------|-----------------------------------------------|----------|--------------|-------|---------------------------------------------|-------|-------------| | Per Common Share \nNet income (loss) ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number 001-35624 CENTERSPACE (Exact name of registrant as specified in its charter) | North Dakota | | | | 45-0311232 | | --- | ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------------|------------------------------------|--------|---------------------|--------|---------------------|---------------------------|---------------|-------| | Per Common Share | Three Months Ended June 30, \n2024 | | \n2023 | | 2024 | Six Months Ended June 30, | 2023 | | | Net income (loss) - diluted | $ | (0.19) | $ | (0.23) | $ | (0.56) | $ 2.55 | | | FFO - diluted(1) | $ 1.23 | | $ 1.11 | | $ 2.39 | | $ 2.01 | | | Core FFO ...

MINNEAPOLIS, July 9, 2024 /PRNewswire/ -- Centerspace (NYSE: CSR) announced today the appointment of Jay Rosenberg to its Board of Trustees on July 8, 2024. Mr. Rosenberg will also serve on Centerspace's Nominating and Corporate Governance Committee. Mr. Rosenberg recently retired as Head of Public Real Assets for Nuveen, where he oversaw strategy, investment process and performance of the firm's listed real assets platform while also serving as a member of Nuveen's global investment committee. Additionally ...

MINNEAPOLIS, June 3, 2024 /PRNewswire/ --NYSE: CSR. Centerspace's Board of Trustees announced today that it has declared a regular quarterly distribution of $0.75 per share/unit, payable on July 10, 2024, to common shareholders and unitholders of record at the close of business on June 28, 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 June 28, 2024, to holders of record at the close o ...

Industry Overview - The housing market in 2023 has been characterized by rising prices and mortgage rates, leading to increased monthly mortgage payments, impacting both aspiring and existing homeowners [1] - The restrictive monetary policy by the Federal Reserve aimed at controlling inflation has significantly contributed to the alarming rise in home prices [2] - New home sales showed fluctuations, with a seasonally adjusted annual rate of 634,000 in April, down 4.7% from March [3] - Existing home sales also declined by 1.9% in April, totaling a seasonally adjusted annual rate of 4.14 million, reflecting a similar year-over-year decrease [3] Future Projections - The National Association of Realtors forecasts a 9% increase in existing home sales in 2024, reaching 4.46 million, and a further 13.2% increase in 2025 to 5.05 million [4] - Housing starts are expected to rise by 1.2% in 2024 to 1.43 million and by 4.9% in 2025 to 1.5 million [4] Current Market Conditions - The median price for an existing home is currently $393,500, marking a 4.8% increase from the previous year, continuing a trend of year-over-year price increases for nine consecutive months [5] - Despite potential improvements in mortgage rates, they remain at a high level, prompting potential buyers to consider waiting for further rate reductions before making investment decisions [5] Investment Opportunities - Three residential stocks are highlighted as potential investment opportunities, all holding a Zacks Rank of 1 (Strong Buy) or 2 (Buy) and a VGM Score of A or B, indicating favorable metrics for selection [6] - M/I Homes, Inc. (MHO) has an expected earnings growth rate of 12.2% for the current year, with a Zacks Consensus Estimate improvement of 11.9% over the past 60 days [7] - KB Home (KBH) is projected to have a 13.9% earnings growth rate for the current year, with a 2.8% improvement in the Zacks Consensus Estimate over the past 60 days [8] - Centerspace (CSR) is expected to see a 4.9% earnings growth rate for the next year, with a 2% improvement in the Zacks Consensus Estimate over the past 60 days [8]