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Centerspace CSR Multifamily — Real estate taxes

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Other financials

Income statement

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Revenue$65.1M-3.0%
Gross profit$62.7M-3.0%
Operating income-$5.4M-214%
Net income-$15.0M-301%
EPS (diluted)-$0.77-250%

Balance sheet

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Cash & equivalents$10.3M-43.2%
Total debt$1.1B+0.7%
Total equity$695.0M+9.1%
Total assets$1.9B-0.3%

Cash flow

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Operating cash flow$21.4M-15.8%
CapEx$5.3M+5.4%
Free cash flow$16.1M-21.0%

Valuation

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Market cap$940.47M+5.5%
Enterprise value$2B-4.4%
P/E45.7×
P/S3.5×+0.1×

Profitability

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Gross margin96.5%0.0pp
Operating margin28.5%+21.7pp
Net margin11.1%
FCF margin22.1%-0.4pp

Returns & leverage

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Return on equity4.3%
Debt / equity1.5×-0.1×

Where this comes from

Reported directly by Centerspace in its filing.

Tagged under the XBRL concept us-gaap:RealEstateTaxExpense.

The source filing: Centerspace’s 10-Q, filed May 4, 2026.

Filed
May 4, 2026, 4:16 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0000798359-26-000038
Three Months Ended March 31, 2026MultifamilyAll OtherTotal
Utilities4,465374,502
Administrative and marketing1,8371,837
Insurance2,446172,463
Real estate taxes7,1391937,332
Net operating income$38,860$635$39,495
Property management expense(2,379)
Casualty loss, net of recoveries21
Depreciation and amortization(26,498)

Item 1. Financial Statements - First Quarter - 2026

FAQ

What is Centerspace's multifamily — real estate taxes?
Centerspace (CSR) reported multifamily — real estate taxes of $7.14M in Q1 2026.
How has Centerspace's multifamily — real estate taxes changed year-over-year?
Centerspace's multifamily — real estate taxes increased by 6.1% year-over-year, from $6.73M to $7.14M.
What is the long-term trend for Centerspace's multifamily — real estate taxes?
Over 3 years (2022 to 2025), Centerspace's multifamily — real estate taxes has grown at a 1.5% compound annual growth rate (CAGR), from $24.52M to $25.65M.
What does multifamily — real estate taxes mean?
This reflects the mandatory property taxes assessed by local and state governments on the multifamily real estate portfolio. As a non-discretionary expense, it is heavily influenced by local tax rates and property valuations. It is a significant component of the total operating expense structure for REITs.

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