---
title: "iREIT MarketVector Quality REIT Idx ETF | 8-K: FY2026 Q1 Revenue: USD 65.07 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285115725.md"
datetime: "2026-05-04T20:20:37.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285115725.md)
  - [en](https://longbridge.com/en/news/285115725.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285115725.md)
---

# iREIT MarketVector Quality REIT Idx ETF | 8-K: FY2026 Q1 Revenue: USD 65.07 M

Revenue: As of FY2026 Q1, the actual value is USD 65.07 M.

EPS: As of FY2026 Q1, the actual value is USD -0.77.

EBIT: As of FY2026 Q1, the actual value is USD 4.187 M.

#### Financial Performance Highlights (Three Months Ended March 31, 2026 vs. Prior Year/Period)

-   **Net Loss per Diluted Share**: Centerspace’s net loss per diluted share increased to - $0.77 from - $0.22 in the same period of the prior year .
-   **Funds From Operations (FFO) per Diluted Share**: FFO per diluted share decreased to $1.07, down from $1.17 in Q1 2025 .
-   **Core FFO per Diluted Share**: Core FFO per diluted share decreased by 7.4% to $1.12, compared to $1.21 in Q1 2025, primarily due to the sale of 12 apartment communities in the prior year .
-   **Total Revenue**: Total revenue decreased by $2.0 million or 3.0% to $65.1 million, compared to $67.1 million for the same period of the prior year .
-   **Total Expenses**: Total expenses were $70,462 thousand for Q1 2026, compared to $62,347 thousand for Q1 2025 .
-   **Operating Loss**: The company reported an operating loss of - $5,393 thousand for Q1 2026, compared to an operating income of $4,746 thousand for Q1 2025 .
-   **Net Loss Available to Common Shareholders**: The net loss available to common shareholders was - $12,889 thousand for Q1 2026, compared to - $3,734 thousand for Q1 2025 .

#### Same-Store Results (Three Months Ended March 31, 2026)

-   **Same-Store Revenues**: Remained consistent year-over-year (Q1 2026 vs. Q1 2025) and decreased by -0.3% sequentially (Q1 2026 vs. Q4 2025) .
-   **Same-Store Expenses**: Increased by 1.7% year-over-year and 8.2% sequentially .
-   **Same-Store Net Operating Income (NOI)**: Decreased by -1.1% year-over-year and -5.1% sequentially .
-   **Weighted Average Occupancy**: Stood at 95.4% .
-   **Effective New Lease Rate Growth**: Was -2.1% .
-   **Effective Renewal Lease Rate Growth**: Was 3.1% .
-   **Effective Blended Lease Rate Growth**: Was 0.4% .
-   **Retention Rate**: Was 54.1% .

#### Liquidity and Debt (as of March 31, 2026)

-   **Total Liquidity**: Centerspace had $267.1 million in total liquidity, comprising $259.6 million available under lines of credit and $7.6 million in cash and cash equivalents .
-   **Total Debt**: Total debt amounted to $1,015,634 thousand .
-   **Weighted Average Interest Rate (Total Debt)**: The weighted average interest rate on total debt was 3.60% .
-   **Debt Service Coverage Ratio**: Was 2.63x .
-   **Net Debt/Adjusted EBITDA**: Was 8.22x .
-   **Payout Ratio (Core FFO per diluted share and unit basis)**: Was 68.8% .

#### Capital Expenditures (Three Months Ended March 31, 2026)

-   **Recurring Capital Expenditures (Same-Store)**: Totaled $2,224 thousand, or $198 per apartment home .
-   **Value-Add Expenditures (All Properties)**: Totaled $1,242 thousand .

#### 2026 Financial Outlook

Centerspace reaffirmed its 2026 financial outlook, projecting a Net loss per Share – diluted between - $0.95 and - $0.66, and FFO per Share – diluted between $4.65 and $4.92 . Core FFO per Share – diluted is expected to be between $4.81 and $5.05 . The company anticipates same-store recurring capital expenditures of $1,250 to $1,350 per home and value-add expenditures of $2.5 million to $12.5 million, with no acquisitions or dispositions included in the outlook .

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