2024 Q3 Form 10-Q Financial Statement

#000079835924000100 Filed on July 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $65.03M $65.04M
YoY Change 0.71% 0.41%
Cost Of Revenue $2.242M $2.222M
YoY Change 2.05% -91.86%
Gross Profit $62.78M $62.82M
YoY Change 0.66% 67.6%
Gross Profit Margin 96.55% 96.58%
Selling, General & Admin $5.001M $4.958M
YoY Change 30.51% 19.13%
% of Gross Profit 7.97% 7.89%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $26.38M $26.01M
YoY Change 5.65% 5.53%
% of Gross Profit 42.02% 41.4%
Operating Expenses $31.08M $30.67M
YoY Change 8.96% 7.5%
Operating Profit $6.350M $7.192M
YoY Change -63.5% -19.64%
Interest Expense -$8.301M -$8.855M
YoY Change -197.02% 6.1%
% of Operating Profit -130.72% -123.12%
Other Income/Expense, Net
YoY Change
Pretax Income -$1.951M -$1.663M
YoY Change -121.28% -30.13%
Income Tax
% Of Pretax Income
Net Earnings -$1.048M -$1.296M
YoY Change -113.48% -62.65%
Net Earnings / Revenue -1.61% -1.99%
Basic Earnings Per Share -$0.40 -$0.19
Diluted Earnings Per Share -$0.40 -$0.19
COMMON SHARES
Basic Shares Outstanding 15.30M shares 14.91M shares
Diluted Shares Outstanding 15.53M shares 14.97M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.45M $14.33M
YoY Change -51.34% 47.03%
Cash & Equivalents $14.45M $14.33M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $14.45M $14.33M
YoY Change -51.34% 47.03%
LONG-TERM ASSETS
Property, Plant & Equipment $1.834B $1.850B
YoY Change 1.35% -2.18%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.794M $1.084M
YoY Change -87.58% 91.52%
Total Long-Term Assets $1.873B $1.885B
YoY Change 1.32% -1.33%
TOTAL ASSETS
Total Short-Term Assets $14.45M $14.33M
Total Long-Term Assets $1.873B $1.885B
Total Assets $1.887B $1.899B
YoY Change 0.49% -1.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $61.00M $52.89M
YoY Change -2.67% -6.75%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $61.00M $52.89M
YoY Change -2.67% -6.75%
LONG-TERM LIABILITIES
Long-Term Debt $921.3M $931.7M
YoY Change 9.85% 5.69%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $921.3M $931.7M
YoY Change 9.85% 5.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $61.00M $52.89M
Total Long-Term Liabilities $921.3M $931.7M
Total Liabilities $982.3M $984.6M
YoY Change 8.98% -15.5%
SHAREHOLDERS EQUITY
Retained Earnings -$597.7M -$579.1M
YoY Change 13.29% 10.78%
Common Stock $1.271B $1.167B
YoY Change 8.7% -0.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $672.5M $680.7M
YoY Change
Total Liabilities & Shareholders Equity $1.887B $1.899B
YoY Change 0.49% -1.08%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$1.048M -$1.296M
YoY Change -113.48% -62.65%
Depreciation, Depletion And Amortization $26.38M $26.01M
YoY Change 5.65% 5.53%
Cash From Operating Activities $32.32M $22.86M
YoY Change 1.44% -3.77%
INVESTING ACTIVITIES
Capital Expenditures $11.85M $13.78M
YoY Change -17.32% -0.43%
Acquisitions
YoY Change
Other Investing Activities -$194.0K -$5.608M
YoY Change -100.24% 5344.66%
Cash From Investing Activities -$12.04M -$19.38M
YoY Change -117.68% 39.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -18.44M -1.813M
YoY Change -68.26% -96.84%
NET CHANGE
Cash From Operating Activities 32.32M 22.86M
Cash From Investing Activities -12.04M -19.38M
Cash From Financing Activities -18.44M -1.813M
Net Change In Cash 1.835M 1.664M
YoY Change -95.62% -103.5%
FREE CASH FLOW
Cash From Operating Activities $32.32M $22.86M
Capital Expenditures $11.85M $13.78M
Free Cash Flow $20.47M $9.085M
YoY Change 16.79% -8.44%

Facts In Submission

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CY2023Q2 us-gaap Cost Of Goods And Services Sold
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us-gaap Cost Of Goods And Services Sold
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us-gaap Cost Of Goods And Services Sold
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CY2023Q2 csr Insurance Gain Loss Casualty
InsuranceGainLossCasualty
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csr Insurance Gain Loss Casualty
InsuranceGainLossCasualty
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csr Insurance Gain Loss Casualty
InsuranceGainLossCasualty
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CY2023Q2 us-gaap Depreciation And Amortization
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24371000 usd
us-gaap Depreciation And Amortization
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us-gaap Depreciation And Amortization
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us-gaap General And Administrative Expense
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us-gaap General And Administrative Expense
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us-gaap Costs And Expenses
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us-gaap Gain Loss On Sale Of Investments
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us-gaap Gain Loss On Sale Of Investments
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CY2024Q2 us-gaap Gain Loss Related To Litigation Settlement
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CY2023Q2 us-gaap Gain Loss Related To Litigation Settlement
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us-gaap Gain Loss Related To Litigation Settlement
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us-gaap Gain Loss Related To Litigation Settlement
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CY2024Q2 us-gaap Operating Income Loss
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7192000 usd
CY2023Q2 us-gaap Operating Income Loss
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5966000 usd
us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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us-gaap Interest Expense Nonoperating
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us-gaap Interest Expense Nonoperating
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CY2024Q2 csr Interest And Other Income Loss
InterestAndOtherIncomeLoss
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CY2023Q2 csr Interest And Other Income Loss
InterestAndOtherIncomeLoss
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csr Interest And Other Income Loss
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csr Interest And Other Income Loss
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CY2024Q2 us-gaap Profit Loss
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CY2023Q2 us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
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us-gaap Profit Loss
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CY2024Q2 csr Preferred Stock Dividends
PreferredStockDividends
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CY2023Q2 csr Preferred Stock Dividends
PreferredStockDividends
160000 usd
csr Preferred Stock Dividends
PreferredStockDividends
320000 usd
csr Preferred Stock Dividends
PreferredStockDividends
320000 usd
CY2024Q2 csr Noncontrolling Interest In Net Income Loss Operating Partnerships And Preferred Unit Holders Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsAndPreferredUnitHoldersNonredeemable
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CY2023Q2 csr Noncontrolling Interest In Net Income Loss Operating Partnerships And Preferred Unit Holders Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsAndPreferredUnitHoldersNonredeemable
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csr Noncontrolling Interest In Net Income Loss Operating Partnerships And Preferred Unit Holders Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsAndPreferredUnitHoldersNonredeemable
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csr Noncontrolling Interest In Net Income Loss Operating Partnerships And Preferred Unit Holders Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsAndPreferredUnitHoldersNonredeemable
7854000 usd
CY2024Q2 us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Nonredeemable
NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonredeemable
34000 usd
CY2023Q2 us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Nonredeemable
NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonredeemable
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us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Nonredeemable
NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonredeemable
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us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Nonredeemable
NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonredeemable
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CY2024Q2 us-gaap Net Income Loss
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CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2024Q2 us-gaap Dividends Preferred Stock
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CY2023Q2 us-gaap Dividends Preferred Stock
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1607000 usd
us-gaap Dividends Preferred Stock
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3214000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.57
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.55
us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14987000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Profit Loss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Other Comprehensive Income Loss Derivative Excluded Component Increase Decrease After Adjustments Tax
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us-gaap Other Comprehensive Income Loss Derivative Excluded Component Increase Decrease After Adjustments Tax
OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseAfterAdjustmentsTax
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
50244000 usd
csr Comprehensive Income Attributable To Noncontrolling Interest Operating Partnership And Preferred Unit Holders
ComprehensiveIncomeAttributableToNoncontrollingInterestOperatingPartnershipAndPreferredUnitHolders
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csr Comprehensive Income Attributable To Noncontrolling Interest Operating Partnership And Preferred Unit Holders
ComprehensiveIncomeAttributableToNoncontrollingInterestOperatingPartnershipAndPreferredUnitHolders
7804000 usd
us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Nonredeemable
NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonredeemable
66000 usd
us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Nonredeemable
NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonredeemable
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
42375000 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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us-gaap Income Loss Including Portion Attributable To Noncontrolling Interest
IncomeLossIncludingPortionAttributableToNoncontrollingInterest
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csr Amortization Of Swap Settlements
AmortizationOfSwapSettlements
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us-gaap Common Stock Dividends Per Share Declared
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us-gaap Dividends Common Stock
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us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
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us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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csr Amortization Of Swap Settlements
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us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
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us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
7320000 usd
CY2023Q2 csr Amortization Of Swap Settlements
AmortizationOfSwapSettlements
159000 usd
CY2023Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
590000 usd
CY2023Q2 us-gaap Partners Capital Account Redemptions
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CY2023Q2 us-gaap Stock Repurchased During Period Value
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CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2024Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
907085000 usd
CY2024Q2 us-gaap Income Loss Including Portion Attributable To Noncontrolling Interest
IncomeLossIncludingPortionAttributableToNoncontrollingInterest
-1823000 usd
CY2024Q2 csr Amortization Of Swap Settlements
AmortizationOfSwapSettlements
173000 usd
CY2024Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.75
CY2024Q2 us-gaap Dividends Common Stock
DividendsCommonStock
11907000 usd
CY2024Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
733000 usd
CY2024Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
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CY2024Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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CY2024Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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CY2024Q2 us-gaap Partners Capital Account Redemptions
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CY2024Q2 us-gaap Stockholders Equity Other
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CY2024Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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us-gaap Profit Loss
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
51295000 usd
us-gaap Gains Losses On Sales Of Investment Real Estate
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us-gaap Gain Loss Related To Litigation Settlement
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us-gaap Share Based Compensation
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us-gaap Increase Decrease In Other Operating Assets
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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47264000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
45561000 usd
us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
13147000 usd
us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
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csr Net Proceeds From Sale Of Real Estate And Other Investments
NetProceedsFromSaleOfRealEstateAndOtherInvestments
18251000 usd
csr Net Proceeds From Sale Of Real Estate And Other Investments
NetProceedsFromSaleOfRealEstateAndOtherInvestments
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us-gaap Proceeds From Insurance Settlement Investing Activities
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us-gaap Proceeds From Insurance Settlement Investing Activities
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us-gaap Payments For Capital Improvements
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us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
25072000 usd
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
117246000 usd
us-gaap Proceeds From Secured Notes Payable
ProceedsFromSecuredNotesPayable
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us-gaap Proceeds From Secured Notes Payable
ProceedsFromSecuredNotesPayable
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us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
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us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
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us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
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us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
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us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
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us-gaap Repayments Of Lines Of Credit
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us-gaap Repayments Of Notes Payable
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us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
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us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
22090000 usd
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
3214000 usd
csr Payments Of Ordinary Dividends Preferred Unitholders
PaymentsOfOrdinaryDividendsPreferredUnitholders
320000 usd
us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
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us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
6143000 usd
csr Capital Expenditures Incurred But Not Yet Paid Net
CapitalExpendituresIncurredButNotYetPaidNet
4915000 usd
csr Capital Expenditures Incurred But Not Yet Paid Net
CapitalExpendituresIncurredButNotYetPaidNet
4638000 usd
csr Conversion Of Stock Amount Converted Net
ConversionOfStockAmountConvertedNet
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CY2024Q2 us-gaap Dividends Payable Current And Noncurrent
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11907000 usd
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
1220000 usd
csr Noncash Or Part Noncash Transaction Retirement Of Shares Withheld For Taxes
NoncashOrPartNoncashTransactionRetirementOfSharesWithheldForTaxes
121000 usd
us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
0 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
900000 usd
csr Noncash Interest Income
NoncashInterestIncome
336000 usd
csr Noncash Interest Income
NoncashInterestIncome
0 usd
us-gaap Interest Paid Net
InterestPaidNet
16762000 usd
us-gaap Interest Paid Net
InterestPaidNet
11867000 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
14328000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
8630000 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
9745000 usd
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1084000 usd
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
639000 usd
CY2023Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
566000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
15412000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9269000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10311000 usd
us-gaap Use Of Estimates
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<div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">USE OF ESTIMATES</span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></div>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">RECLASSIFICATIONS</span></div>Certain previously reported amounts have been reclassified to conform to the current financial statement presentation. These reclassifications had no impact on net income (loss) as reported in the Condensed Consolidated Statements of Operations, total assets, liabilities or equity as reported in the Condensed Consolidated Balance Sheets and the classifications within the Condensed Consolidated Statements of Cash Flows. Centerspace reclassified certain items within the disaggregated revenue table included in Note 2.
CY2024Q2 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
952000 usd
CY2024Q2 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
1989000 usd
CY2024Q2 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
1857000 usd
CY2024Q2 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
1575000 usd
CY2024Q2 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
1192000 usd
CY2024Q2 csr Lessor Operating Lease Payment To Be Received After Year Four
LessorOperatingLeasePaymentToBeReceivedAfterYearFour
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CY2024Q2 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
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CY2024Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
60394000 usd
CY2023Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
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us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
120428000 usd
CY2024Q2 us-gaap Variable Lease Income
VariableLeaseIncome
3558000 usd
CY2023Q2 us-gaap Variable Lease Income
VariableLeaseIncome
3017000 usd
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1091000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2024Q2 us-gaap Revenues
Revenues
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CY2023Q2 us-gaap Revenues
Revenues
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us-gaap Revenues
Revenues
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CY2024Q2 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
0 usd
CY2023Q2 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
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us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
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CY2024Q2 us-gaap Amortization Of Intangible Assets
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37000 usd
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
49000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1700000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
893000 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">MARKET CONCENTRATION RISK</span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is subject to increased exposure from economic and other competitive factors specific to markets where it holds a significant percentage of the carrying value of its real estate portfolio. As of June 30, 2024, Centerspace held more than 10% of the carrying value of its real estate portfolio in the Minneapolis, Minnesota and Denver, Colorado markets.</span></div>
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
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CY2024Q2 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 usd
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 usd
CY2024Q2 us-gaap Advertising Expense
AdvertisingExpense
742000 usd
CY2023Q2 us-gaap Advertising Expense
AdvertisingExpense
744000 usd
CY2024Q2 us-gaap Insured Event Gain Loss
InsuredEventGainLoss
-137000 usd
us-gaap Insured Event Gain Loss
InsuredEventGainLoss
-755000 usd
csr Number Of Apartment Community Assets Subject To Insurance Recoveries
NumberOfApartmentCommunityAssetsSubjectToInsuranceRecoveries
6 apartmentcommunity
CY2023Q2 us-gaap Asset Impairment Charges
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1300000 usd
CY2024Q2 us-gaap Estimated Insurance Recoveries
EstimatedInsuranceRecoveries
1600000 usd
csr Ratio Of Units Exchanged For Shares
RatioOfUnitsExchangedForShares
1
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-1863000 usd
us-gaap Net Income Loss
NetIncomeLoss
-5201000 usd
CY2024Q2 us-gaap Dividends Preferred Stock
DividendsPreferredStock
1607000 usd
CY2023Q2 us-gaap Dividends Preferred Stock
DividendsPreferredStock
1607000 usd
us-gaap Dividends Preferred Stock
DividendsPreferredStock
3214000 usd
us-gaap Dividends Preferred Stock
DividendsPreferredStock
3214000 usd
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2903000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3470000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-8415000 usd
CY2024Q2 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable
0 usd
CY2023Q2 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable
0 usd
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable
0 usd
CY2024Q2 csr Payments Of Ordinary Dividends Preferred Unitholders Accrued Amount
PaymentsOfOrdinaryDividendsPreferredUnitholdersAccruedAmount
0 usd
CY2023Q2 csr Payments Of Ordinary Dividends Preferred Unitholders Accrued Amount
PaymentsOfOrdinaryDividendsPreferredUnitholdersAccruedAmount
0 usd
csr Payments Of Ordinary Dividends Preferred Unitholders Accrued Amount
PaymentsOfOrdinaryDividendsPreferredUnitholdersAccruedAmount
0 usd
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-2903000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-3470000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-8415000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14972000 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14949000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14947000 shares
CY2024Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2024Q2 csr Incremental Common Shares Attributable To Conversion Of Restricted Stock
IncrementalCommonSharesAttributableToConversionOfRestrictedStock
0 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14972000 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.19
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.19
CY2024Q2 csr Noncontrolling Interests In Operating Partnership Units Outstanding
NoncontrollingInterestsInOperatingPartnershipUnitsOutstanding
828000 shares
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
15100000 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
15000000.0 shares
CY2022Q1 srt Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
50000000.0 usd
CY2024Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
4700000 usd
CY2024Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
CY2024Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
0 usd
CY2024Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
0
CY2023Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
105000 shares
CY2023Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
5696000 usd
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
935999000 usd
CY2024Q2 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0362
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
921124000 usd
CY2023Q4 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0354
csr Debt Instrument Weighted Average Maturity
DebtInstrumentWeightedAverageMaturity
P5Y8M19D
CY2024Q2 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
608000 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
1134000 usd
CY2024Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
3708000 usd
CY2023Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
3968000 usd
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
931683000 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
916022000 usd
CY2024Q2 csr Number Of Real Estate Properties Unencumbered
NumberOfRealEstatePropertiesUnencumbered
45 apartmentcommunity
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
3735000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
84290000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
102809000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
48666000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
118321000 usd
CY2024Q2 csr Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
578178000 usd
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
935999000 usd
CY2024Q2 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
608000 usd
CY2024Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
3708000 usd
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
931683000 usd
us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
690000 usd
CY2023Q2 csr Number Of Acquisitions During Period
NumberOfAcquisitionsDuringPeriod
0 acquisition
csr Number Of Acquisitions During Period
NumberOfAcquisitionsDuringPeriod
0 acquisition
CY2024Q2 csr Number Of Acquisitions During Period
NumberOfAcquisitionsDuringPeriod
0 acquisition
csr Number Of Acquisitions During Period
NumberOfAcquisitionsDuringPeriod
0 acquisition
csr Number Of Disposal Transactions During Period
NumberOfDisposalTransactionsDuringPeriod
2 transaction
csr Number Of Disposal Transactions During Period
NumberOfDisposalTransactionsDuringPeriod
4 transaction
CY2024Q2 us-gaap Revenues
Revenues
65043000 usd
CY2024Q2 csr Property Operating Expense
PropertyOperatingExpense
25189000 usd
CY2024Q2 csr Net Operating Income Loss
NetOperatingIncomeLoss
39854000 usd
CY2024Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
2222000 usd
CY2024Q2 csr Insurance Gain Loss Casualty
InsuranceGainLossCasualty
-510000 usd
CY2024Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
25714000 usd
CY2024Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4216000 usd
CY2024Q2 us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
9332000 usd
CY2024Q2 csr Interest And Other Income Loss
InterestAndOtherIncomeLoss
477000 usd
CY2024Q2 us-gaap Profit Loss
ProfitLoss
-1663000 usd
CY2023Q2 us-gaap Revenues
Revenues
64776000 usd
CY2023Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4162000 usd
CY2023Q2 us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
8641000 usd
us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
18539000 usd
us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
18960000 usd
CY2024Q2 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
2428290000 usd
CY2024Q2 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
578691000 usd
CY2024Q2 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1849599000 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
14328000 usd
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1084000 usd
CY2024Q2 us-gaap Other Assets
OtherAssets
34414000 usd
CY2024Q2 us-gaap Assets
Assets
1899425000 usd
CY2023Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
2420146000 usd
CY2023Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
530703000 usd
CY2023Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1889443000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
8630000 usd
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
639000 usd
CY2023Q4 us-gaap Other Assets
OtherAssets
27649000 usd
CY2023Q4 us-gaap Assets
Assets
1926361000 usd
CY2023Q2 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
-2900000 usd
us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
-2900000 usd
us-gaap Loss Contingency Damages Awarded Value
LossContingencyDamagesAwardedValue
1000000.0 usd
CY2023 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
-1000000.0 usd
CY2024Q2 csr Number Of Real Estate Technology Venture Funds With Unfunded Commitments
NumberOfRealEstateTechnologyVentureFundsWithUnfundedCommitments
2 realestatetechnologyventurefund
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
775000 shares
CY2015Q3 csr Share Based Compensation Arrangement By Share Based Payment Award Term Of Award
ShareBasedCompensationArrangementByShareBasedPaymentAwardTermOfAward
P10Y
CY2024Q1 us-gaap Share Price
SharePrice
58.20
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
733000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
590000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1500000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2100000 usd
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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