What is Centerspace worth?
With the base-case assumptions below, a discounted cash flow model on Centerspace's reported free cash flow gives $47.85 per share. The share price was $56.93 on November 10, 2026, 19% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 4.0% | 10.0% | $13.24 | -77% |
| Base | 9.0% | 9.0% | $47.85 | -16% |
| Bull | 14.0% | 8.0% | $112.43 | +97% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $73.22 | $81.03 | $90.57 | $102.49 | $117.82 |
| 8.0% | $54.25 | $59.31 | $65.29 | $72.47 | $81.24 |
| 9.0% | $40.40 | $43.86 | $47.85 | $52.51 | $58.02 |
| 10.0% | $29.87 | $32.33 | $35.12 | $38.31 | $41.98 |
| 11.0% | $21.60 | $23.41 | $25.42 | $27.69 | $30.26 |
Where the presets come from
Base: years 1 to 5 grow at Centerspace's revenue growth rate over the last 5 fiscal years (9.0% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions