Centerspace (NYSE:CSR) Releases Earnings Results, Misses Expectations By $2.31 EPS

Centerspace (NYSE:CSR) released its earnings results on Tuesday. The company reported ($1.10) earnings per share for the quarter, missing the consensus estimate of $1.21 by ($2.31), FiscalAI reports. The firm had revenue of $66.62 million during the quarter, compared to analyst estimates of $69.77 million. Centerspace had a net margin of 11.14% and a return on equity of 3.52%.

Centerspace Stock Performance

Centerspace stock traded down $0.75 during midday trading on Tuesday, reaching $62.82. 226,670 shares of the stock traded hands, compared to its average volume of 121,136. Centerspace has a fifty-two week low of $52.76 and a fifty-two week high of $69.15. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.96. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 35.10 and a beta of 0.78. The firm has a fifty day moving average price of $65.06 and a two-hundred day moving average price of $61.70.

Centerspace Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 12th. Investors of record on Tuesday, December 30th were issued a $0.77 dividend. The ex-dividend date of this dividend was Tuesday, December 30th. This represents a $3.08 annualized dividend and a dividend yield of 4.9%. Centerspace’s dividend payout ratio (DPR) is 172.07%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CSR shares. UBS Group upped their target price on Centerspace from $63.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. Piper Sandler reduced their price objective on shares of Centerspace from $68.00 to $66.00 and set a “neutral” rating for the company in a research report on Monday, November 10th. Wells Fargo & Company upped their price target on shares of Centerspace from $60.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. Wall Street Zen raised Centerspace from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $65.00 price target on shares of Centerspace in a report on Monday, January 5th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $69.86.

Hedge Funds Weigh In On Centerspace

Large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Centerspace by 10.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,276 shares of the company’s stock valued at $1,353,000 after acquiring an additional 1,967 shares during the period. Anson Funds Management LP bought a new position in shares of Centerspace during the 4th quarter valued at about $1,778,000. Russell Investments Group Ltd. grew its stake in shares of Centerspace by 8.1% in the 4th quarter. Russell Investments Group Ltd. now owns 51,676 shares of the company’s stock worth $3,448,000 after purchasing an additional 3,863 shares during the last quarter. State of Wisconsin Investment Board lifted its stake in Centerspace by 3.8% during the fourth quarter. State of Wisconsin Investment Board now owns 32,953 shares of the company’s stock valued at $2,199,000 after purchasing an additional 1,205 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of Centerspace by 4.9% during the 4th quarter. Captrust Financial Advisors now owns 4,348 shares of the company’s stock worth $290,000 after acquiring an additional 202 shares in the last quarter. Institutional investors and hedge funds own 79.00% 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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.