EQUITY AND MEZZANINE EQUITY (Tables)

9 Months Ended

Sep. 30, 2023

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, 2023 and 2022 as detailed in the table below.

	(in thousands)
Three Months Ended September 30,	Number of Units	Net Book Basis
2023	97	$	898
2022	8	$	456
Nine Months Ended September 30,
2023	107	$	1,919
2022	19	$	831

Pursuant to the exercise of exchange rights, the Company redeemed Units for cash during the three and nine months ended September 30, 2023 and 2022 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
2023	—	$	28	$	63.37
2022	7	$	607	$	81.18
Nine Months Ended September 30,
2023	1	$	38	$	61.40
2022	42	$	3,837	$	90.93

	(in thousands)
	Number of Series E	Number of	Total
Three Months Ended September 30,	Preferred Units Redeemed	Common Shares Issued	Value
2023	5	6	$	176
Nine Months Ended September 30,
2023	25	31	$	2,296

Schedule of Sale of Common Shares

The table below provides details on the sale of common shares during the nine months ended September 30, 2023 and 2022 under the 2021 ATM Program. There were no sales of common shares under the 2021 ATM Program during the three months ended September 30, 2023 and 2022. As of September 30, 2023, 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)
Nine Months Ended September 30,	Number of Common Shares	Net Consideration(1)		Average Net Price Per Share
2023	—	$	—	$	—
2022	321	$	31,732	$	98.89

(1)Consideration is net of $338 in commissions and issuance costs during the nine months ended September 30, 2022.

Schedule of Repurchased Shares

The table below provides details on the shares repurchased during the three and nine months ended September 30, 2023 and 2022. As of September 30, 2023, the Company had $14.2 million remaining authorized for purchase under this program.

	(in thousands, except per share amounts)
Three Months Ended September 30,	Number of Common Shares	Aggregate Cost(1)		Average Price Per Share(1)
2023	—	$	—	$	—
2022	5	$	359	$	65.97
Nine Months Ended September 30,
2023	124	$	6,718	$	54.19
2022	5	$	359	$	65.97

(1)Amount includes commissions.