D/B/A Centerspace (CSR) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello everyone. Thank you for joining us and welcome to the CenterSpace Q2 2026 earnings call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star one to raise your hand. To withdraw your question, press star one again. The presentation will now begin. Thank you and good morning. CenterSpace's Form 10-Q for the quarter ended June 30th, 2026 was filed with the SEC yesterday after market closed. Our earnings release and supplemental disclosure package are available on CenterspaceHomes.com and were filed on Form 8-K. Today's remarks include forward-looking statements based on management's current views and assumptions. These statements are subject to risks and uncertainties discussed in our risk factors and other SEC filings. We cannot guarantee these statements will materialize and you should not place undue reliance on them. Please refer to our earnings release for reconciliations of any non-GAAP measures discussed on today's call. Joining me today are Bhairav Patel, our Chief Financial Officer, and Grant Campbell, Senior Vice President of Investments and Capital Markets. During our remarks, we will give a brief update related to our portfolio repositioning and operating trends after which Grant will elaborate on the status of our dispositions and investment activities, and we'll close out with Bhairav providing context for the guidance updates we outlined in a release last evening. In the last 14 months, we have sold or are under contract to sell 20 communities for approximately $530 million. These transactions have significantly improved the profile of our portfolio and balance sheet, increasing exposure to institutional markets eliminating exposure to tertiary markets like St. Cloud, Rap...