BRIEF-Centerspace Announces Outcome Of Strategic Review

Centerspace

Centerspace

CSR

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June 1 (Reuters) - Centerspace CSR.N:

  • CENTERSPACE ANNOUNCES OUTCOME OF STRATEGIC REVIEW; $245 MILLION OF PLANNED DISPOSITIONS

  • CENTERSPACE - PLANS TO DISPOSE OF $245 MILLION OF ASSETS IN 2026 INCLUDING EXIT FROM BISMARCK AND RAPID CITY

  • CENTERSPACE - TARGETS $240-$245 MILLION OF ASSET SALES IN 2026 WITH CLOSINGS ANTICIPATED IN H2 2026

  • CENTERSPACE - UPON COMPLETION, TOTAL DEBT EXPECTED TO DECREASE BY $175-$190 MILLION

  • CENTERSPACE - MAY DECLARE SPECIAL DISTRIBUTIONS OF $45-$65 MILLION LATER IN 2026

  • CENTERSPACE - DECLARES QTRLY DISTRIBUTION OF $0.77 PER SHARE/UNIT

  • CENTERSPACE - PROFORMA NET DEBT TO EBITDA EXPECTED TO DECREASE FROM 8.2X IN Q1 2026 TO SUB-7X IN Q4 2026

  • CENTERSPACE - WHILE OPERATIONAL OUTLOOK REMAINS MATERIALLY UNCHANGED, IT IS STILL EVALUATING IMPACT OF THESE TRANSACTIONS ON FINANCIAL RESULTS

Source text: ID:nPn9dxpYra

Further company coverage: CSR.N


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