Centerspace (CSR) to Issue Quarterly Dividend of $0.77 on January 12th

Centerspace (NYSE:CSR) declared a quarterly dividend on Monday, December 1st. Stockholders of record on Tuesday, December 30th will be given a dividend of 0.77 per share on Monday, January 12th. This represents a c) dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, December 30th.

Centerspace has increased its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 2 years. Centerspace has a payout ratio of -832.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Centerspace to earn $5.14 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 59.9%.

Centerspace Stock Up 0.8%

Shares of CSR traded up $0.50 during midday trading on Wednesday, hitting $66.31. The company had a trading volume of 4,913 shares, compared to its average volume of 113,163. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.96. The company’s 50 day moving average price is $61.61 and its 200 day moving average price is $60.27. Centerspace has a 52 week low of $52.76 and a 52 week high of $72.06. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 37.04 and a beta of 0.78.

Centerspace (NYSE:CSR) last released its earnings results on Monday, November 3rd. The company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.03). Centerspace had a return on equity of 3.52% and a net margin of 11.14%.Centerspace has set its FY 2025 guidance at 4.880-4.960 EPS. On average, equities research analysts predict that Centerspace will post 4.94 EPS for the current year.

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.