Only one of our models could value this stock with confidence, so use it as a guide.
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Valued as a REIT (property company): Price to FFO, Dividend discount, and EV/EBITDA comparison.
ACCE opinionD/B/A Centerspace Common Stock (CSR)
Fair value (2 models)
Not available
ACCE price target
$55.00
Rating
Not rated
Horizon
12 months
ACCE price target published on 13 Oct 2026, 00:00 CEST.
Price used: $56.97 at the close on 23 Oct 2026, 22:00 CEST.
Models: Dividend discount, EV/EBITDA comparison, and Price to FFO.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
33
out of 100
Analysts
33% buy
9 covering
P/E
45.6x
forward 55.6x
1-year return
-4.3%
Dividend yield
5.48%
D/B/A Centerspace Common Stock in four questions
Plain answers, details below
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Overview
ACCE thesis
Centerspace owns and operates apartment communities concentrated in the upper Midwest, including the Minneapolis-St. Paul and Fargo markets, and it has been shrinking its footprint through asset sales. The REIT's main lever is its operating portfolio of multifamily buildings, where a 59.3% gross margin and 12.6% operating margin show the properties themselves still convert rent into profit. The top-line trend is the problem: revenue is down 4.0% and ROE sits at 3.4%, so the core question is whether disposals and a tighter balance sheet can stabilize per-unit economics. At a trailing P/E of 44.3 and forward P/E of 55.6, the market is pricing in an earnings recovery that the reported numbers do not yet show. With a sub-$1 billion market cap, no index membership and a score of 33/100, the name is a candidate for a deeper look only if the bull case rests on verifiable same-store NOI growth in its Midwest markets.
⚠ Investor warnings · 4 flagsAI-assisted·How I use AI
high
Revenue shrinking year on year
Revenue fell 4.0% year on year and 2.3% quarter on quarter, while the five-year revenue CAGR is 14.7%. The top line has turned down after a long expansion.
high
Leveraged balance sheet
Debt/Equity stands at 1.41 against $64M of free cash flow on a $992M market cap. Shrinking revenue leaves less room to service that debt.
moderate
Heavy short interest
Short interest is 9.0% of shares. That is a meaningful bet against the stock, so expect sharp moves on any news.
moderate
Rich valuation, flat earnings
P/E of 44.5 and forward P/E of 55.6 sit on earnings that were flat year on year (0.0%). The price assumes growth that the recent numbers do not show.
AI research notes
AI-assisted·How I use AIWritten Oct 19, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Free cash flow over the last twelve months reached $64M, a cash cushion for the business.
The dividend yield of 5.5% gives income investors a meaningful cash return while they wait.
Revenue grew 14.7% a year on average over five years, showing the business has expanded over time.
Why it could disappoint
Revenue fell 4.0% year over year, so the business is shrinking at the top line right now.
Return on equity of 3.4% and return on invested capital of 0.8% show weak returns on the money tied up in the business.
Debt equals 1.41 times equity, and the share count rose 8.2%, diluting existing holders.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Nov 2, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
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Valuation
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Where CSR's valuation models land
Price
$56.97
Model fair valueConfidence: medium
$58.13
Model
Fair value
Upside
Dividend discount
EV/EBITDA comparison
Price to FFO
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Quality
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