CENTERSPACE 10-K

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities Market Information Our Common Shares of Beneficial Interest, no par value, are traded on the New York Stock Exchange under the symbol “CSR”. Shareholders As of February 10, 2026, there were approximately 2,083 common shareholders of record. Unregistered Sales of Shares Under the terms of Centerspace, LP’s Agreement of Limited Partnership, limited partners have the right to require Centerspace, LP to redeem their common limited partnership Units any time following the first anniversary of the date they acquired such Units (“Exchange Right”). When a limited partner exercises the Exchange Right, we have the right, in our sole discretion, to redeem such Units by either making a cash payment or exchanging the Units for our common shares, on a one-for-one basis. The Exchange Right is subject to certain conditions and limitations, including that the limited partner may not exercise the Exchange Right more than two times during a calendar year and the limited partner may not exercise for less than 100 Units, or, if such limited partner holds less than 100 Units, for less than all of the Units held by such limited partner. Centerspace, LP and some limited partners have contractually agreed to a holding period of greater than one year, a greater number of redemptions during a calendar year, or other modifications to their Exchange Right. On November 30, 2025, we issued an aggregate of 41,018 unregistered common shares to limited partners of Centerspace, LP upon exercise of their Exchange Rights for an equal number of Units. All such issuances of our common shares were exempt from registration as private placements under Section 4(a)(2) of the Securities Act. We have registered the resale of such common shares under the Securities Act. Issuer Purchases of Equity Securities Maximum Dollar Total Number of Shares Amount of Shares That Total Number of Average Price Purchased as Part of May Yet Be Purchased Shares and Units Paid per Publicly Announced Under the Plans or Period Purchased (1) Share and Unit (2) Plans or Programs Programs (3) October 1 - 31, 2025 — $ — — $ 96,545,554 November 1 - 30, 2025 — — — 96,545,554 December 1 - 31, 2025 — — — 96,545,554 Total — $ — — (1) Includes Units and Series D preferred units redeemed for cash pursuant to the exercise of exchange rights. (2) Amount is based on market prices and includes commissions paid. (3) Effective July 31, 2025, the board authorized a $100.0 million share repurchase program which expires on July 31, 2026. Comparative Stock Performance The information contained in this Comparative Stock Performance section shall not be deemed to be “soliciting material” or “filed” or “incorporated by reference” into our future filings with the SEC, or subject to the liabilities of Section 18 of the Exchange Act, except to the extent that we specifically incorporate it by reference into a document filed under the Securities Act or the Exchange Act. Set forth below is a graph that compares, for the five years commencing December 31, 2020 and ending December 31, 2025, the cumulative total returns for our common shares with the comparable cumulative total return of three indices, the Standard & Poor’s 500 Index (“S&P 500”), the FTSE Nareit Equity REITs Index, and the FTSE Nareit Equity Apartments Index, the latter of which is an index prepared by the FTSE Group for the National Association of Real Estate Investment Trusts, which includes all tax-qualified equity REITs listed on the NYSE and the NASDAQ Market. The performance graph assumes that, at the close of trading on December 31, 2020, $100 was invested in our common shares and in each of the indices. The comparison assumes the reinvestment of all distributions. 26 Table of Contents Period Ending Index 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025 Centerspace 100.00 162.26 89.31 93.21 110.99 117.59 S&P 500 Index 100.00 128.71 105.40 133.10 166.40 196.16 FTSE Nareit Equity REITs Index 100.00 143.24 108.34 123.21 133.97 137.83 FTSE Nareit Equity Apartments Index 100.00 163.61 111.34 117.87 142.02 129.86 Source: S&P Global Market Intelligence Item 6. Reserved 27 Table of Contents