Centerspace (NYSE:CSR) Announces Earnings Results

Centerspace (NYSE:CSR) posted its quarterly earnings results on Monday. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $1.12 by ($1.49), Yahoo Finance reports. Centerspace had a return on equity of 4.76% and a net margin of 15.81%. During the same period last year, the business posted $1.07 EPS. Centerspace updated its FY 2024 guidance to 4.740-4.920 EPS.

Centerspace Trading Up 0.2 %

Shares of CSR stock opened at $64.72 on Tuesday. Centerspace has a twelve month low of $46.74 and a twelve month high of $66.99. The stock’s fifty day simple moving average is $58.32 and its 200 day simple moving average is $55.91. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $963.68 million, a P/E ratio of 27.78, a P/E/G ratio of 1.95 and a beta of 0.93.

Centerspace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.75 per share. The ex-dividend date was Wednesday, March 27th. This is an increase from Centerspace’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 4.64%. Centerspace’s dividend payout ratio is 128.76%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CSR shares. Piper Sandler restated a “neutral” rating and set a $63.00 price objective on shares of Centerspace in a report on Tuesday, March 26th. Royal Bank of Canada restated an “outperform” rating and set a $63.00 target price on shares of Centerspace in a research report on Friday, March 22nd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $65.57.

Insiders Place Their Bets

In other news, Director John A. Schissel acquired 500 shares of the stock in a transaction dated Monday, March 11th. The stock was bought at an average price of $56.40 per share, with a total value of $28,200.00. Following the completion of the purchase, the director now directly owns 9,522 shares of the company’s stock, valued at approximately $537,040.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.92% of the company’s stock.

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.