Centerspace (NYSE:CSR) Announces Quarterly Earnings Results

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

Centerspace Price Performance

Shares of CSR stock opened at $69.02 on Wednesday. The stock has a 50-day moving average price of $68.37 and a 200 day moving average price of $62.53. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.77. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -86.27, a PEG ratio of 2.05 and a beta of 0.88. Centerspace has a 12 month low of $46.74 and a 12 month high of $71.36.

Centerspace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 28th were given a $0.75 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.00 dividend on an annualized basis and a yield of 4.35%. Centerspace’s payout ratio is -375.00%.

Analysts Set New Price Targets

CSR has been the subject of a number of research reports. Royal Bank of Canada raised their target price on Centerspace from $66.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Compass Point lowered Centerspace from a “buy” rating to a “neutral” rating and raised their target price for the company from $65.00 to $68.00 in a research note on Friday, May 3rd. Raymond James upgraded Centerspace from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research note on Friday, May 24th. Finally, Piper Sandler raised their target price on Centerspace from $64.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.14.

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.