Centerspace (NYSE:CSR) Q2 2022 Earnings Conference Call August 2, 2022 10:00 AM ET Company Participants Joe McComish - VP, Finance Mark Decker - CEO Bhairav Patel - CFO Anne Olson - COO Conference Call Participants John Kim - BMO Brad Heffern - RBC Capital Markets Rob Stevenson - Janney Connor Mitchell - Piper Sandler Buck Horne - Raymond James Wes Golladay - Baird Operator Good morning and welcome to today's Centerspace Second Quarter Earnings Call. My name is Candice and I'll be your moderator for today's ...

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, 2022 or ☐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 (State or other jurisdiction o ...

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 March 31, 2022 or ☐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 (State or other jurisdiction ...

Centerspace (NYSE:CSR) Q4 2021 Earnings Conference Call March 1, 2022 10:00 AM ET Company Participants Mark Decker - President and CEO Anne Olson - COO Bhairav Patel - EVP and CFO John Kirchmann - EVP Conference Call Participants Rob Stevenson - Janney Alexander Goldfarb - Piper Sandler John Kim - BMO Capital Markets Buck Horne - Raymond James Operator Good day and welcome to the Centerspace Q4 2021 Earnings Call. My name is Brica and I'll be today's event specialist. [Operator Instructions] I would now lik ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the year ended December 31, 2021 or ☐ 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 58702- ...

财务数据和关键指标变化 - 公司第三季度核心FFO为每股0.98美元，同比增长4.3% [24] - 前三季度核心FFO为每股2.91美元，同比增长5.4% [24] - 同店NOI同比增长7.5%，主要得益于6.2%的收入增长 [14] - 同店平均月租金为每单元1,279美元，环比增长3.7% [15] - 公司预计全年核心FFO为每股3.92至4.02美元，较此前指引中值上调3% [27] 各条业务线数据和关键指标变化 - 同店组合表现良好，第三季度收入增长6.2%，NOI增长7.5% [14] - 新租赁平均有效租金增长10.8%，续租平均有效租金增长7.2%，综合有效租金增长9% [14] - 第三季度完成338套单元翻新，平均每套投入4.8万美元，第一年ROI约为16% [19] - 非同店组合由于新社区整合，预计会有一些波动 [17] 各个市场数据和关键指标变化 - 明尼阿波利斯市场收入增长7.8%，NOI增长15.7% [14] - 丹佛市场新租赁租金增长14.4% [30] - 北达科他州和明尼苏达州北部市场租金增长有所放缓 [30] - 圣克劳德市场入住率下降290个基点，主要由于第三季度41%的租约到期 [37] 公司战略和发展方向和行业竞争 - 公司将继续投资社区，提升投资组合质量和长期盈利能力 [9] - 公司正在积极评估重点市场的社区收购机会 [9] - 公司计划利用近期平台投资，深化居民价值主张 [8] - 公司面临劳动力、财产税、保险和监管环境等挑战 [10] 管理层对经营环境和未来前景的评论 - 公司对2022年持乐观态度，计划利用平台投资提升居民价值 [8] - 公司预计租金控制措施可能影响5个社区，占预期NOI的4.5% [12] - 公司认为强劲的基本面将在未来几个月和几年内占上风 [10] - 公司预计2022年租金增长将保持强劲，但可能会有适度放缓 [56] 其他重要信息 - 公司第三季度完成多项融资，包括发行1.25亿美元无担保优先票据和1.989亿美元Fannie Mae信贷安排 [22] - 公司第三季度通过ATM计划发行19.9万股普通股，平均净价为98.57美元 [23] - 公司预计2021年同店资本支出为每单元885至915美元，较年初指引中值下降6.5% [26] 问答环节所有的提问和回答 问题: 新租赁增长率放缓的原因 - 回答: 主要由于季节性因素和北达科他州、明尼苏达州北部等寒冷天气市场增长放缓 [30] 问题: 杠杆率上升的原因 - 回答: 主要由于TMS收购导致EBITDA不匹配，预计未来杠杆率将降至7倍左右 [32][33] 问题: 明尼阿波利斯和丹佛市场的改善情况 - 回答: 明尼阿波利斯市场改善广泛，城市资产已趋于稳定 [35] 问题: 圣克劳德市场入住率下降的原因 - 回答: 主要由于第三季度41%的租约到期，公司优先考虑优化收入 [37] 问题: 租金控制措施对租金定价的影响 - 回答: 公司未因租金控制措施改变定价策略，仅影响1个社区 [41][42] 问题: 明尼苏达州投资组合的潜在机会 - 回答: 公司认为该组合有显著上行空间，特别是收入方面 [44] 问题: 费用增长的结构性因素 - 回答: 房地产税和保险成本上涨是结构性的，工资通胀也将带来压力 [46][47] 问题: 每套已入住房屋收入增长的原因 - 回答: 主要由于第三季度租金援助支付增加 [49] 问题: 杠杆目标 - 回答: KMS交易是杠杆中性的，未来收购也将保持杠杆中性 [50][51] 问题: 翻新投资回报率展望 - 回答: 预计2022年仍将保持16%左右的回报率 [55] 问题: 租金增长可持续性 - 回答: 预计2022年续租率将保持高位，新租赁增长可能适度放缓 [56] 问题: 资本化率变化 - 回答: 自年初以来资本化率压缩50-75个基点 [58][59] 问题: 纳什维尔市场前景 - 回答: 仍是优秀市场，但定价具有挑战性 [60] 问题: 城市资产策略 - 回答: 目前没有计划大幅调整城市资产占比 [65] 问题: 10月客流量变化 - 回答: 2021年10月客流量是2020年的3倍，也高于2019年水平 [66][67] 问题: 明尼阿波利斯城市区域复苏情况 - 回答: 劳动节后城市区域客流量和租金均有改善 [69][70] 问题: 技术相关成本展望 - 回答: 预计2022年非经常性费用将大幅下降 [74] 问题: 租金收入比变化 - 回答: 目前仍维持在23%左右，未看到合格申请人减少 [77]

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 September 30, 2021 or ☐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 (State or other jurisdict ...

Investor Presentation September 2021 SAFE HARBOR STATEMENT AND LEGAL DISCLOSURE Certain statements in this presentation are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from expected results. These statements may be identified by our use of words such as "expects," "plans," "estimates," "anticipates," "projects," "int ...

Exhibit 99.1 centerspace 2nd Quarter 2021 EARNINGS RELEASE AND SUPPLEMENTAL OPERATING & FINANCIAL DATA Union Pointe // Longmont, CO Earnings Release Centerspace Reports Strong Second Quarter 2021 Financial Results; Improved Financial Outlook MINNEAPOLIS, MN, August 2, 2021 – Centerspace (NYSE: CSR) announced today its financial and operating results for the three and six months ended June 30, 2021. The tables below show Net Income, Funds from Operations ("FFO")1, and Core FFO1, all on a per share basis, for ...

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, 2021 or ☐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 (State or other jurisdiction o ...