Centerspace 2025 Core FFO Reaches $4.93, Net Income $1.02, Guides 2026 Core FFO to $5.05
Centerspace reported 2025 net income of $1.02 per diluted share versus a $1.27 loss in 2024 and Core FFO rose to $4.93 per share year-over-year. It acquired two apartment communities for $281.2 million, repurchased 62,973 shares at $54.86 each, and forecasts 2026 Core FFO of $4.81–$5.05.
1. Full-year 2025 Financial Results
Centerspace achieved net income of $1.02 per diluted share in 2025 compared with a $1.27 loss in 2024. Core FFO rose to $4.93 per share, while same-store net operating income increased 3.5% driven by 2.4% revenue growth.
2. Acquisitions and Asset Sales
During the year, the company acquired Sugarmont in Salt Lake City and Railway Flats in Loveland for an aggregate $281.2 million including $76.5 million of debt. It also sold twelve non-core apartment communities and one office building for a combined $215.5 million.
3. Capital Actions
Centerspace repurchased 62,973 shares at an average price of $54.86, and ended 2025 with $267.9 million of liquidity. The board declared a quarterly distribution of $0.77 per share, payable April 14, 2026.
4. 2026 Financial Guidance and Strategic Review
The company expects 2026 FFO of $4.61–$4.89 and Core FFO of $4.81–$5.05 per diluted share, with net income per share forecast at $(0.49)–$(0.19). An ongoing strategic alternative review remains in place with no set timetable.