Centerspace Reports First Quarter 2025 Financial & Operating Results and Reaffirms 2025 Core FFO per Share Guidance

Core Insights - Centerspace reported a net loss of $0.22 per diluted share for Q1 2025, an improvement from a net loss of$0.37 per diluted share in Q1 2024 [2][5] - Funds from Operations (FFO) per diluted share increased slightly to $1.17 in Q1 2025 from$1.16 in Q1 2024, while Core FFO per diluted share decreased by 1.6% to $1.21 from$1.23 [2][5] - Same-store revenues rose by 3.5% year-over-year, contributing to a 2.1% increase in same-store Net Operating Income (NOI) [2][5] Financial Performance - Total revenue for Q1 2025 was $67.1 million, up by$2.6 million or 4.0% compared to $64.5 million in Q1 2024 [5] - Same-store expenses increased by 5.8$223.2 million, comprising $211.3 million available under lines of credit and$11.9 million in cash and cash equivalents [4] Updated Financial Outlook - Centerspace maintained its 2025 financial outlook, projecting same-store revenue growth between 1.50% and 3.50% and same-store NOI growth between 1.25% and 3.25% [7] - The updated outlook for FFO per diluted share remains between $4.73 and$4.97, and for Core FFO per diluted share between $4.86 and$5.10 [7]