Centerspace (NYSE:CSR) Posts Earnings Results

Centerspace (NYSE:CSR) released its earnings results on Monday. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($1.57), Zacks reports. Centerspace had a negative net margin of 2.16% and a negative return on equity of 0.67%. The business had revenue of $65.03 million for the quarter, compared to analysts’ expectations of $66.35 million. During the same quarter in the previous year, the business posted $1.20 earnings per share. Centerspace updated its FY 2024 guidance to 4.820-4.900 EPS.

Centerspace Stock Down 2.6 %

Shares of Centerspace stock opened at $69.11 on Wednesday. Centerspace has a twelve month low of $46.74 and a twelve month high of $76.16. 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 company’s 50 day moving average is $72.44 and its 200 day moving average is $69.92. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -42.93, a price-to-earnings-growth ratio of 2.07 and a beta of 0.89.

Centerspace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 30th were issued a dividend of $0.75 per share. The ex-dividend date was Monday, September 30th. This represents a $3.00 annualized dividend and a dividend yield of 4.34%. Centerspace’s payout ratio is -186.34%.

Wall Street Analysts Forecast Growth

CSR has been the subject of several analyst reports. Piper Sandler raised their price target on Centerspace from $64.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Raymond James downgraded shares of Centerspace from an “outperform” rating to a “market perform” rating in a research note on Monday, October 21st. BTIG Research raised their price target on shares of Centerspace from $69.00 to $79.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada upped their price objective on Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $75.40.

Centerspace Company Profile

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.