EQUITY AND MEZZANINE EQUITY (Tables)

6 Months Ended

Jun. 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 six months ended June 30, 2023 and 2022 as detailed in the table below.

	(in thousands)
Three Months Ended June 30,	Number of Units	Net Book Basis
2023	6	$	324
2022	1	$	(13)
Six Months Ended June 30,
2023	10	$	1,021
2022	11	$	375

Pursuant to the exercise of exchange rights, the Company redeemed Units for cash during the three and six months ended June 30, 2023 and 2022 as detailed in the table below.

	(in thousands, except per Unit data)
Three Months Ended June 30,	Number of Units	Aggregate Cost		Average Price Per Unit
2023	1	$	10	$	56.58
2022	4	$	327	$	92.03
Six Months Ended June 30,
2023	1	$	10	$	56.58
2022	35	$	3,230	$	93.03

	(in thousands)
	Number of Series E	Number of	Total
Three Months Ended June 30,	Preferred Units Redeemed	Common Shares Issued	Value
2023	7	9	$	1,185
Six Months Ended June 30,
2023	20	25	$	2,120

Schedule of Sale of Common Shares

The table below provides details on the sale of common shares during the six months ended June 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 June 30, 2023 and 2022. As of June 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)
Six Months Ended June 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 six months ended June 30, 2022.

Schedule of Repurchased Shares

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

	(in thousands, except per share amounts)
Three Months Ended June 30,	Number of Common Shares	Aggregate Cost(1)		Average Price Per Share(1)
2023	105	$	5,696	$	54.51
Six Months Ended June 30,
2023	124	$	6,718	$	54.19

(1)Amount includes commissions.