EQUITY AND MEZZANINE EQUITY (Tables)

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Schedule of Conversions of Stock

Centerspace redeemed Units in exchange for common shares in connection with Unitholders exercising their exchange rights during the three and nine months ended September 30, 2022 and 2021 as detailed in the table below.

	(in thousands)
Three Months Ended September 30,	Number of Units	Net Book Basis
2022	8	$	456
2021	36	$	(3,233)
Nine Months Ended September 30,
2022	19	$	831
2021	131	$	(2,815)

Pursuant to the exercise of exchange rights, the Company redeemed Units for cash during the three and nine months ended September 30, 2022 and 2021 as detailed in the table below.

	(in thousands, except per Unit data)
Three Months Ended September 30,	Number of Units	Aggregate Cost		Average Price Per Unit
2022	7	$	607	$	81.18
2021	—	$	—	$	—
Nine Months Ended September 30,
2022	42	$	3,837	$	90.93
2021	—	$	—	$	—

Schedule of Sale of Common Shares

The table below provides details on the sale of common shares during the three and nine months ended September 30, 2022 and 2021 under both the 2019 and 2021 ATM Programs. As of September 30, 2022, common shares having an aggregate offering price of up to $126.6 million remained available under the 2021 ATM Program.

	(in thousands, except per share amounts)
Three Months Ended September 30,	Number of Common Shares	Net Consideration(1)		Average Net Price Per Share
2022	—	$	—	$	—
2021	199	$	19,632	$	98.58
Nine Months Ended September 30,
2022	321	$	31,732	$	98.89
2021	1,095	$	86,127	$	78.63

(1)Total consideration is net of $338 in commissions and issuance costs during the nine months ended September 30, 2022 and $299 and $1.0 million for the three and nine months ended September 30, 2021, respectively.

Schedule of Repurchased Shares

The table below provides details on the shares repurchased during the three and nine months ended September 30, 2022. As of September 30, 2022, the Company had $49.6 million remaining authorized for purchase under this program. Refer to Note 12 for repurchases made subsequent to September 30, 2022.

	(in thousands, except per share amounts)
	Number of Common Shares	Total Consideration(1)		Average Net Price Per Share(1)
Three and Nine Months Ended September 30, 2022	5	$	359	$	65.97

(1)Amount includes commissions.