Centerspace reports Q1 net loss of $0.77/share, updates 2026 outlook amid strategic review progress

Centerspace reported a net loss of $0.77 per diluted share for Q1 2026, compared to a loss of $0.22 per share in Q1 2025, mainly due to the prior year's sale of 12 apartment communities. Same-store revenues were stable, but operating expenses rose, causing a 1.1% drop in same-store net operating income. The company updated its 2026 financial outlook, slightly lowering expected net loss per share while maintaining revenue and FFO guidance. Centerspace's board continues a strategic review process, with a more detailed update expected by Q2 earnings. The company holds $267.1 million in liquidity and owns 61 apartment communities across several states.