Centerspace (NYSE:CSR) Announces Earnings Results

Centerspace (NYSE:CSR) posted its quarterly earnings results on Monday. The company reported ($0.37) EPS 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 quarter in the previous year, the company earned $1.07 EPS. Centerspace updated its FY 2024 guidance to 4.740-4.920 EPS.

Centerspace Trading Up 0.2 %

NYSE:CSR opened at $64.72 on Tuesday. Centerspace has a 12 month low of $46.74 and a 12 month high of $66.99. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.74. The company has a 50-day moving average price of $58.32 and a 200-day moving average price of $55.91. The stock has a market cap of $963.68 million, a price-to-earnings 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 disclosed a quarterly dividend, which was paid on Monday, April 8th. Shareholders of record on Thursday, March 28th were given a dividend of $0.75 per share. This is an increase from Centerspace’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend was Wednesday, March 27th. Centerspace’s payout ratio is presently 128.76%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Piper Sandler restated a “neutral” rating and set a $63.00 price target on shares of Centerspace in a research report on Tuesday, March 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 price target on shares of Centerspace in a report on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $65.57.

Insider Activity at Centerspace

In related news, Director John A. Schissel acquired 500 shares of the stock in a transaction on Monday, March 11th. The stock was acquired at an average cost of $56.40 per share, for a total transaction of $28,200.00. Following the completion of the acquisition, the director now directly owns 9,522 shares of the company’s stock, valued at approximately $537,040.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.92% of the stock is owned by corporate insiders.

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.