CSR
Centerspace
CSR's fundamentals are strong and it looks cheap: trading at 10x earnings, less than half its usual 24x. Analysts expect losses to shrink.
CSR Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Strong | |
| N/A | |
| N/A |
CSR's profitability is currently strong, but its revenue is under pressure. Free cash flow and net leverage aren't meaningful measures for real estate companies like CSR.
CSR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 10x | $56.24 | — |
| Cheap | 12x | $66.92 | +19% |
| Fair | 24x | $129 | +130% |
| Expensive | 55x | $292 | +420% |
Historical ranges are pointers, not guarantees.
CSR's PE is in its cheap range at 10x.
CSR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Decline | |
| Improving | |
| Limited | |
| High |
Analysts expect CSR's losses to shrink, with revenue declining.
CSR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $5.36 | +199% |
| Q2 2022 | -$2.44 | -228% |
| Q1 2022 | -$0.66 | -$0.65 |
| Q4 2021 | -$0.47 | -$0.28 |
| Q3 2021 | -$0.28 | -107% |
| Q2 2021 | $1.91 | -64% |
| Q1 2021 | -$0.01 | -100% |
| Q4 2020 | -$0.19 | -103% |
CSR earned $5.36 per share over the past year, about three times what it earned the year before.
CSR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $59.5M | -17% |
| Q2 2026 | $65.8M | -4% |
| Q1 2026 | $65.1M | -3% |
| Q4 2025 | $66.6M | +0.3% |
| Q3 2025 | $71.4M | +9.8% |
| Q2 2025 | $68.5M | +5.4% |
| Q1 2025 | $67.1M | +4% |
| Q4 2024 | $66.4M | +3.7% |
CSR's revenue has slid since its 2025 peak: $60M last quarter, down 17% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 255% | +146 points |
| Q2 2026 | 13% | +23 points |
| Q1 2026 | -8.3% | -15 points |
| Q4 2025 | -16% | -20 points |
| Q3 2025 | 108% | +98 points |
| Q2 2025 | -9.9% | -21 points |
| Q1 2025 | 7.1% | +0.8 points |
| Q4 2024 | 4.3% | +6.7 points |
CSR's operating margin was 255% last quarter, up 146 points from the same quarter a year ago, near the top of its range since 2019.
CSR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $14.8M | -42% |
| Q2 2026 | $15.1M | -3% |
| Q1 2026 | $16.1M | -21% |
| Q4 2025 | $2.7M | -72% |
| Q3 2025 | $25.7M | +26% |
| Q2 2025 | $15.5M | +71% |
| Q1 2025 | $20.4M | +686% |
| Q4 2024 | $9.4M | +$16.8M |
CSR's free cash flow was $49M over the past year, down 32% from the year before. Free cash flow isn't a meaningful measure for real estate companies like CSR.
CSR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +73K shares |
| 1 year | -15% | -2.9M shares |
| 3 years | +13% | +1.9M shares |
| 5 years | +20% | +2.8M shares |
| Available history | +28% | +3.7M shares |
CSR has 17M diluted shares, down 15% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q4 2025 | — |
| Q3 2025 | $3.5M |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
CSR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.8x | Moderate |
| Q2 2026 | 5.4x | High |
| Q1 2026 | 6.0x | High |
| Q4 2025 | 5.7x | High |
| Q3 2025 | 6.0x | High |
| Q2 2025 | 9.5x | High |
| Q1 2025 | 7.3x | High |
| Q4 2024 | 7.4x | High |
CSR's net debt is about 2.8 years of its operating earnings (EBITDA), down from 6.0 years a year ago. Net leverage isn't a meaningful measure for real estate companies like CSR.
CSR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 46.5 | Neutral |
| Stochastic | 65.2 | Neutral |
CSR's weekly RSI is 47 (neutral) and its Stochastic is 65 (neutral).
CSR PE vs Real Estate Sector
| Metric | CSR | Sector median | Relative |
|---|---|---|---|
| PE | 10x | 24x | 56% below |
| PE % | 6 | 23 | 17 pts below |
CSR is trading at 10x earnings, a 56% discount to the Real Estate sector's median of 24x.
CSR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $56.3 | 0.1% below |
| 20 week MA | $55.8 | 0.8% above |
| 50 week MA | $60.4 | 6.9% below |
| 100 week MA | $60.8 | 7.5% below |
| 200 week MA | $61.7 | 8.9% below |
CSR's trend is mixed: it's above one of its five weekly moving averages, and 8.9% below its 200-week average.
CSR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $72.8 | $71.6 | -1.6% |
| 2021 | $71.6 | $107.9 | +51% |
| 2022 | $107.9 | $60.2 | -44% |
| 2023 | $60.2 | $58.2 | -3.3% |
| 2024 | $58.2 | $65.9 | +13% |
| 2025 | $65.9 | $67.2 | +2% |
| 2026 YTD | $67.2 | $56.2 | -16% |
CSR has finished lower in three of the last six years. It's down 16% so far in 2026.