Centerspace (NYSE:CSR) Announces Quarterly Earnings Results

Centerspace (NYSE:CSR) posted its quarterly earnings data on Monday. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.48), FiscalAI reports. The firm had revenue of $65.07 million for the quarter, compared to analysts’ expectations of $66.54 million. Centerspace had a return on equity of 2.00% and a net margin of 6.25%. Centerspace updated its FY 2026 guidance to 4.810-5.050 EPS.

Centerspace Trading Up 0.7%

Shares of CSR traded up $0.47 during trading hours on Monday, reaching $68.85. 92,746 shares of the company traded hands, compared to its average volume of 128,597. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 68.85 and a beta of 0.89. Centerspace has a 12-month low of $52.76 and a 12-month high of $69.61. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.86. The stock’s fifty day moving average price is $62.05 and its 200 day moving average price is $63.41.

Centerspace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 14th. Stockholders of record on Monday, March 30th were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, March 30th. Centerspace’s payout ratio is currently 308.00%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CSR. Royal Bank Of Canada lifted their price objective on shares of Centerspace from $68.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, February 19th. Piper Sandler raised shares of Centerspace from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $69.00 to $72.00 in a research note on Tuesday, April 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $65.00 price objective on shares of Centerspace in a research note on Monday, January 5th. Wells Fargo & Company dropped their price objective on shares of Centerspace from $74.00 to $69.00 and set an “equal weight” rating for the company in a research note on Thursday, March 5th. Finally, UBS Group lifted their price objective on shares of Centerspace from $63.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $68.83.

Institutional Trading of Centerspace

A number of large investors have recently made changes to their positions in CSR. Wellington Management Group LLP boosted its stake in shares of Centerspace by 324.4% during the fourth quarter. Wellington Management Group LLP now owns 855,869 shares of the company’s stock valued at $57,104,000 after purchasing an additional 654,209 shares during the period. Long Pond Capital LP boosted its stake in shares of Centerspace by 108.0% during the fourth quarter. Long Pond Capital LP now owns 444,101 shares of the company’s stock valued at $29,630,000 after purchasing an additional 230,638 shares during the period. Millennium Management LLC boosted its stake in shares of Centerspace by 307.3% during the first quarter. Millennium Management LLC now owns 184,051 shares of the company’s stock valued at $11,917,000 after purchasing an additional 138,861 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Centerspace by 482.8% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 109,301 shares of the company’s stock valued at $6,438,000 after purchasing an additional 90,548 shares during the period. Finally, Adelante Capital Management LLC purchased a new stake in shares of Centerspace during the fourth quarter valued at $4,808,000. 79.00% of the stock is owned by hedge funds and other institutional investors.

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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.