Centerspace Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 31, 2023 at 09:28 pm
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Centerspace reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 64.78 million compared to USD 63.12 million a year ago. Net loss was USD 1.7 million compared to USD 2.83 million a year ago. Basic loss per share from continuing operations was USD 0.23 compared to USD 0.3 a year ago. Diluted loss per share from continuing operations was USD 0.23 compared to USD 0.3 a year ago.
For the six months, sales was USD 132.67 million compared to USD 123.43 million a year ago. Net income was USD 42.03 million compared to net loss of USD 11.26 million a year ago. Basic earnings per share from continuing operations was USD 2.57 compared to basic loss per share from continuing operations of USD 0.97 a year ago. Diluted earnings per share from continuing operations was USD 2.55 compared to diluted loss per share from continuing operations of USD 0.97 a year ago.
Centerspace is a real estate investment trust. The Company is focused on the ownership, management, acquisition, development, and redevelopment of apartment communities. The Company owns approximately 72 apartment communities consisting of 13,088 homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota. The Company conducts its daily business operations primarily through its operating partnership, Centerspace, LP (the Operating Partnership). The Companyâs portfolio of apartment communities includes 71 France, Alps Park Apartments, Arcata Apartments, Ashland Apartment Homes, Avalon Cove Townhomes, Burgundy & Hillsboro, Canyon Lake Apartments, Castlerock Apartment Homes, Cottonwood Apartment Homes, Country Meadows Apartment Homes, Deer Ridge Apartment Homes, Grand Gateway Apartment Homes, Homestead Garden Apartments, Silver Springs Apartment Homes, and Rimrock West Apartments, among others.