CSR

Centerspace (CSR) reported quarterly FFO of $1.11 per share, missing the consensus estimate of $1.13 and declining from $1.19 a year ago. The company also missed revenue expectations at $59.52 million versus the estimate.

With a Zacks Rank #3 (Hold) rating and the residential REIT industry in the bottom 35% of rankings, the stock is expected to perform in line with the market. Centerspace has underperformed the S&P 500 by 23.1% year-to-date.

Monteverde & Associates PC is investigating four proposed mergers to determine if they are fair to shareholders: Synaptics' $123/share sale to ON Semiconductor (vote Nov 17), Eagle Financial's stock-for-stock merger with John Marshall Bancorp (vote Nov 19), Victory Capital's $7 billion acquisition of First Eagle (vote Nov 17), and Centerspace's sale to IRT (vote Nov 10). The firm is seeking to assess whether the merger terms and processes are adequate.