Centerspace (NYSE:CSR) Releases FY 2024 Earnings Guidance

Centerspace (NYSE:CSR) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 4.820-4.900 for the period, compared to the consensus earnings per share estimate of 4.850. The company issued revenue guidance of -.

Centerspace Trading Up 0.9 %

Centerspace stock traded up $0.62 during trading hours on Monday, hitting $70.98. The stock had a trading volume of 225,549 shares, compared to its average volume of 104,004. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -88.72, a P/E/G ratio of 2.07 and a beta of 0.89. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.79. The business’s 50 day simple moving average is $72.54 and its 200-day simple moving average is $69.86. Centerspace has a one year low of $46.74 and a one year high of $76.16.

Centerspace (NYSE:CSR) last issued its quarterly earnings data on Monday, July 29th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($1.39). Centerspace had a negative net margin of 2.16% and a negative return on equity of 0.67%. The business had revenue of $65.04 million during the quarter, compared to the consensus estimate of $65.90 million. During the same quarter last year, the business earned $1.28 EPS. On average, equities analysts predict that Centerspace will post 4.83 EPS for the current fiscal year.

Centerspace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 30th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend was Monday, September 30th. Centerspace’s payout ratio is currently -375.00%.

Analysts Set New Price Targets

A number of research firms recently weighed in on CSR. Raymond James downgraded Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. BTIG Research upped their price target on Centerspace from $69.00 to $79.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Piper Sandler raised their price objective on Centerspace from $64.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada upped their target price on Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $75.40.

About Centerspace

Centerspace is an owner and operator of apartment communities committed to providing great homes by focusing on integrity and serving others. Founded in 1970, as of September 30, 2023, Centerspace owned interests in 71 apartment communities consisting of 12,785 apartment homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota.