Centerspace (NYSE:CSR) Announces Earnings Results

Centerspace (NYSE:CSR) announced its earnings results on Monday. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($1.39), Yahoo Finance reports. Centerspace had a negative return on equity of 0.67% and a negative net margin of 2.16%. The business had revenue of $65.04 million for the quarter, compared to analyst estimates of $65.90 million. During the same quarter in the previous year, the company earned $1.28 EPS.

Centerspace Stock Performance

Shares of Centerspace stock opened at $69.02 on Wednesday. The company has a 50 day moving average of $68.37 and a 200-day moving average of $62.53. Centerspace has a 1-year low of $46.74 and a 1-year high of $71.36. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.77. The company has a market cap of $1.03 billion, a PE ratio of -86.27, a price-to-earnings-growth ratio of 2.05 and a beta of 0.88.

Centerspace Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Friday, June 28th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date was Friday, June 28th. Centerspace’s dividend payout ratio (DPR) is presently -375.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CSR shares. Piper Sandler increased their price target on Centerspace from $64.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday. Raymond James raised Centerspace from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a report on Friday, May 24th. Compass Point downgraded Centerspace from a “buy” rating to a “neutral” rating and boosted their price target for the company from $65.00 to $68.00 in a research note on Friday, May 3rd. Finally, Royal Bank of Canada increased their price objective on shares of Centerspace from $66.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.14.

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.