Centerspace: Q4 Earnings Snapshot

MINOT, N.D. (AP) — MINOT, N.D. (AP) — Centerspace (CSR) on Tuesday reported a key measure of profitability in its fourth quarter. The results beat Wall Street expectations.

The real estate investment trust, based in Minot, North Dakota, said it had funds from operations of $22.1 million, or $1.22 per share, in the period.

The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of $1.11 per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had a loss of $9.8 million, or 65 cents per share.

The real estate investment trust, based in Minot, North Dakota, posted revenue of $64.1 million in the period.

For the year, the company reported funds from operations of $86.7 million. Revenue was reported as $261.3 million.

Centerspace expects full-year funds from operations in the range of $4.68 to $4.92 per share.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CSR at https://www.zacks.com/ap/CSR