Centerspace reports Q3 YTD NOI growth 9.5%, reaffirms 2023 FFO guidance

CENTERSPACE

Q3 YTD 2023 same-store revenue +8.3%, expenses +6.6%, NOI +9.5% (above mid-point of guidance).
Full-year 2023 FFO guidance $4.20-$4.27 per share; Core FFO $4.63-$4.71.
Renewal leasing spreads 4.8% in Q3 2023; blended spread 3.8% QTD October.
October 2023 Lake Vista acquisition closed; apartment count now 13,088.
Weighted avg interest rate 3.46%; minimal debt maturities through 2025.

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