CENTERSPACE
For the period ended Dec 31, 2023. Filed Feb 20, 2024.
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FY2023 · Filed Feb 20, 2024
CSR$57.51+0.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
| (in thousands, except per share data) | |||
|---|---|---|---|
| Year Ended December 31, | |||
| 2023 | 2022 | 2021 | |
| REVENUE | $261,309 | $256,716 | $201,705 |
| EXPENSES | |||
| Property operating expenses, excluding real estate taxes | 77,053 | 80,070 | 57,753 |
| Real estate taxes | 28,759 | 28,567 | 24,104 |
| Property management expense | 9,353 | 9,895 | 8,752 |
| Casualty loss | 2,095 | 1,591 | 344 |
| Depreciation and amortization | 101,678 | 105,257 | 92,165 |
| Impairment of real estate investments | 5,218 | — | — |
| General and administrative expenses | 20,080 | 17,516 | 16,213 |
| TOTAL EXPENSES | 244,236 | 242,896 | 199,331 |
| Gain on sale of real estate and other investments | 71,244 | 41 | 27,518 |
| Loss on litigation settlement | (3,864) | — | — |
| Operating income | 84,453 | 13,861 | 29,892 |
| Interest expense | (36,429) | (32,750) | (29,078) |
| Interest and other income (loss) | 1,207 | 1,248 | (2,915) |
| NET INCOME (LOSS) | 49,231 | (17,641) | (2,101) |
| Dividends to Series D preferred unitholders | (640) | (640) | (640) |
| Net (income) loss attributable to noncontrolling interests – Operating Partnership and Series E preferred units | (7,141) | 4,299 | 2,806 |
| Net income attributable to noncontrolling interests – consolidated real estate entities | (125) | (127) | (94) |
| Net income (loss) attributable to controlling interests | 41,325 | (14,109) | (29) |
| Dividends to preferred shareholders | (6,428) | (6,428) | (6,428) |
| NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS | $34,897 | $(20,537) | $(6,457) |
| NET INCOME (LOSS) PER COMMON SHARE – BASIC | $2.33 | $(1.35) | $(0.47) |
| NET INCOME (LOSS) PER COMMON SHARE – DILUTED | $2.32 | $(1.35) | $(0.47) |
| Weighted average shares - basic | 14,994 | 15,216 | 13,803 |
| Weighted average shares - dilutive | 17,118 | 15,216 | 13,803 |
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