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iREIT MarketVector Quality REIT Index

IRET

Centerspace is a real estate investment trust (REIT) focused on the ownership, management, acquisition, and redevelopment of apartment communities.

Revenue$271.6M+3.1%
Net income$20.6M+282%
Free cash flow$60.0M+1.1%
EPS (diluted)$1.33+205%
Trailing twelve months · change vs. prior year

Earnings

Q3 2025 report

August 4, 2025

Next report

Date not yet announced

Financials

Q1 2026

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 & ratios

Valuation

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Market cap$0-11.0%

Profitability

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Gross margin96.5%0.0pp
FCF margin22.1%-0.4pp

Returns & leverage

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Debt / equity1.5×-0.1×

Segments

By segment

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Multifamily$64.2M+8.0%

Competitors

Profile

Centerspace is a real estate investment trust (REIT) focused on the ownership, management, acquisition, and redevelopment of apartment communities. The company concentrates on high-growth metropolitan markets with stable economic conditions and strong employment to drive resident retention and demand. Its core value proposition centers on enhancing the resident experience through operational improvements and modernizing existing assets to meet current market demands.

Competitive position

A regional residential REIT focused on high-quality apartment communities in stable, vibrant Midwestern and Mountain West markets.

GeographiesUnited States, Minneapolis/St. Paul, Denver, Boulder/Fort Collins, Salt Lake City
Customer segmentsResidential Tenants
Business modelAsset-heavy, Rental Income, REIT
SuppliersConstruction Contractors, Property Maintenance Suppliers, Financial Institutions, Municipalities (Zoning/Permitting)
CustomersResidential Tenants, Institutional Investors, Individual Shareholders

Questions, answered.

What is iREIT MarketVector Quality REIT Index's revenue and profitability?
iREIT MarketVector Quality REIT Index generated $271.6M in trailing twelve-month revenue with net income of $20.6M, representing a net margin of 11.1%. Gross margin stands at 96.5%, with free cash flow of $60.0M. These figures are based on the Q1 2026 filing.
Who are iREIT MarketVector Quality REIT Index's competitors?
iREIT MarketVector Quality REIT Index's key competitors include Equity Residential, AvalonBay Communities, Camden Property Trust, and others. These companies compete in similar markets and product categories.
Who does iREIT MarketVector Quality REIT Index partner with?
iREIT MarketVector Quality REIT Index's notable partners include Bank of Montreal, U.S. Bank, PGIM, Inc., and others.
What subsidiaries does iREIT MarketVector Quality REIT Index have?
iREIT MarketVector Quality REIT Index's subsidiaries include Centerspace, LP, Centerspace, Inc..
Where is iREIT MarketVector Quality REIT Index headquartered?
iREIT MarketVector Quality REIT Index is headquartered in United States of America.