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Centerspace

Centerspace is an owner and operator of apartment communities focused on providing quality homes through integrity and service. Founded in 1970 and incorporated in North Dakota, the company owned 60 apartment communities totaling 12,090 homes as of June 30, 2026, located in Colorado, Minnesota, Montana, Nebraska, North Dakota, South Dakota, and Utah. Centerspace was named a Top Workplace in 2026 by USA Today and, for the seventh consecutive year, by the Minnesota Star Tribune in 2026.

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Zacks Adds DICK'S Sporting Goods, AngloGold Ashanti and Centerspace to Strong Sell List

Zacks Investment Research added three stocks to its Zacks Rank #5 (Strong Sell) List for September 11th. DICK'S Sporting Goods, ticker DKS, an omni-channel sporting goods retailer, saw its Zacks Consensus Estimate for current year earnings revised 17.8% downward over the last 60 days. AngloGold Ashanti PLC, ticker AU, a gold mining company operating in Africa, the Americas and Australia, had its current year earnings estimate revised almost 8.6% downward over the same period. Centerspace, ticker CSR, a real estate development company focused on apartment communities, saw its current year earnings estimate revised almost 6.2% downward over the last 60 days.
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Midday Movers: Meta Rises, Casey's Falls, Signet Jumps

In midday trading, several stocks made notable moves. Centerspace jumped over 8% after announcing an all-stock merger with Independence Realty Trust, creating a residential REIT with an enterprise value of $8.1 billion, with Centerspace shareholders receiving about 3.8 shares of IRT common stock per share. Academy Sports and Outdoors gained 8% after lifting its adjusted earnings outlook for fiscal 2027 to $6.50-$6.90 per share, above the prior range and the FactSet consensus of $6.43. Meta Platforms rose 6% following the unveiling of a personal AI agent app. Mission Produce popped 4% after beating FactSet expectations for both earnings and revenue in its fiscal third quarter. Apple slipped 1% ahead of an expected iPhone announcement. Casey's General Stores dropped over 15% despite beating earnings and revenue estimates, due to a 0.3% decline in fuel sales and slightly lower-than-expected growth in prepared food and beverage sales. Signet Jewelers surged 19% after reporting adjusted earnings of $2.19 per share, beating the FactSet estimate of $1.74, and raising full-year guidance. ServiceTitan fell over 30% after its third-quarter revenue guidance missed estimates, despite beating second-quarter revenue at $292.8 million versus $285.9 million expected. Braze dropped 19% on a revenue miss, though it beat on earnings per share. Chime Financial rose 4% after better-than-expected second-quarter earnings and third-quarter revenue guidance of $680-$690 million, surpassing the $640.6 million estimate.
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Independence Realty Trust to Buy Centerspace in $8.1B REIT Merger

Independence Realty Trust is acquiring Centerspace in an all-stock deal that will create a multifamily REIT with an $8.1 billion enterprise value. The transaction, announced Wednesday, will add 47 communities with 10,456 units across six states, expanding IRT's portfolio by nearly 30% to about 44,000 units. Centerspace shareholders will receive 3,800 IRT shares for each Centerspace share, leaving them with roughly 22% of the combined company. The merger will shift IRT's geographic mix, reducing Sun Belt exposure from 79% to 58%, with 27% in the Midwest and the rest in the Mountain West. The combined portfolio is about 95% leased with an average monthly rent of $1,628, and the deal is expected to close in the fourth quarter pending shareholder approval.
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