CSRLOW SIGNALOPERATIONAL10-K

Centerspace reduced its real estate portfolio from 71 to 61 apartment communities while maintaining the same $1.9 billion net investment value, indicating strategic asset optimization.

The REIT consolidated its portfolio by disposing of 10 apartment communities and 750 homes while preserving total asset value, suggesting management focused on higher-quality or better-performing properties. The minor increase in share count and reduced share buyback activity reflects routine capital allocation adjustments typical for REITs.

Comparing 2026-02-17 vs 2025-02-18View on EDGAR →
FINANCIAL ANALYSIS

The company modestly reduced share repurchases from $4.7 million to $3.5 million, representing a 27% decrease in buyback activity. Share count increased marginally from 16.7 million to 16.8 million shares outstanding. The overall financial picture suggests steady capital management with a strategic shift toward portfolio optimization rather than aggressive expansion or contraction.

FINANCIAL STATEMENT CHANGES
Share Buybacks
Cash Flow
-26.6%
$4.7M→$3.5M

Buyback activity reduced 26.6% — capital being redeployed elsewhere or cash conservation underway.

LANGUAGE CHANGES
NEW — 2026-02-17
PRIOR — 2025-02-18
ADDED
The number of common shares of beneficial interest outstanding as of February 10, 2026, was 16,774,337 .
The following factors, among others, including without limitation the risk factors set forth in Item 1A, Risk Factors, could cause our future results to differ materially from those expressed in the forward-looking statements: inflation and price volatility in the global economy; uncertain global macro-economic and political conditions, the impact of actual or threatened wars or other international conflicts, such as in Ukraine, the Middle East, and South America, including sanctions imposed by the U.S.
Readers should carefully review our financial statements and the notes thereto, as well as the section entitled Risk Factors in Item 1A of this Report and the other documents we file from time to time with the SEC.
Paul, Denver, Boulder/Fort Collins, and Salt Lake City metropolitan areas.
As of December 31, 2025, we owned 61 apartment communities, containing 12,262 homes and having a total real estate investment amount, net of accumulated depreciation, of $1.9 billion.
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REMOVED
The number of common shares of beneficial interest outstanding as of February 11, 2025, was 16,726,594 .
Readers should carefully review our financial statements and the notes thereto, as well as the section entitled Risk Factors in Item 1A of this Report and the other documents we file from time to time with the Securities and Exchange Commission ( SEC ).
As of December 31, 2024, we owned interests in 71 apartment communities, containing 13,012 homes and having a total real estate investment amount, net of accumulated depreciation, of $1.9 billion.
STRUCTURE We were organized under the laws of North Dakota on July 31, 1970 and have operated as a REIT under Sections 856-858 of the Internal Revenue Code of 1986, as amended (the Code ), since our formation.
We regularly issue dividends to our shareholders and Unitholders.
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