Centerspace Q3 net income rises to $7.28 per share on gain; Core FFO falls 6.7%
Centerspace reported third-quarter 2026 results, with diluted net income of $7.28 per share versus $3.19 a year earlier, driven mainly by a $150.3 million gain on property sales. Core FFO per diluted share fell 6.7% to $1.11, and revenue declined 16.6% to $59.5 million, mainly due to apartment dispositions. The company will no longer provide guidance because of its pending merger with Independence Realty Trust, under which each Centerspace share would convert into 3.8 IRT shares.
Key points
- Diluted net income was $7.28 per share for Q3 2026, compared with $3.19 in Q3 2025, primarily due to a higher gain on sale of real estate.
- Core FFO per diluted share was $1.11, down from $1.19 a year earlier; FFO per diluted share was $0.83 versus $1.19.
- Same-store NOI fell 2.7% year over year, and revenue fell 16.6% to $59.5 million on property sales.
- Centerspace will no longer provide 2026 guidance; a special shareholder meeting on the IRT merger is set for November 10, 2026.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 7, 2026, 11:18 PM ET, from the text of the filing and its press-release exhibits only.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.