Centerspace (NYSE:CSR) Releases Quarterly Earnings Results, Misses Expectations By $1.57 EPS

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

Centerspace Trading Down 2.6 %

Shares of NYSE CSR opened at $69.11 on Wednesday. Centerspace has a 1 year low of $46.74 and a 1 year high of $76.16. The stock has a market cap of $1.06 billion, a P/E ratio of -42.93, a price-to-earnings-growth ratio of 2.07 and a beta of 0.89. The firm has a 50-day moving average of $72.44 and a 200 day moving average of $69.92. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.04 and a quick ratio of 0.04.

Centerspace Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 30th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.00 dividend on an annualized basis and a yield of 4.34%. Centerspace’s dividend payout ratio (DPR) is currently -186.34%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. BTIG Research raised their target price on shares of Centerspace from $69.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Piper Sandler raised their target price on shares of Centerspace from $64.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Royal Bank of Canada raised their target price on shares of Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Raymond James cut shares of Centerspace from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.