Centerspace (NYSE:CSR) Posts Quarterly Earnings Results, Beats Estimates By $1.36 EPS

Centerspace (NYSE:CSR - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported $1.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $1.36, Zacks reports. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. The firm had revenue of $66.41 million for the quarter, compared to the consensus estimate of $65.96 million. Centerspace updated its FY 2025 guidance to 4.860-5.100 EPS.

Centerspace Stock Performance

Centerspace stock traded down $0.97 during trading hours on Friday, hitting $64.10. 81,197 shares of the stock traded hands, compared to its average volume of 86,673. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.04 and a quick ratio of 0.05. The firm's 50 day moving average price is $63.10 and its 200-day moving average price is $69.02. Centerspace has a 1 year low of $54.50 and a 1 year high of $76.16. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -50.47 and a beta of 0.90.

Centerspace Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $3.08 dividend on an annualized basis and a yield of 4.80%. This is a boost from Centerspace's previous quarterly dividend of $0.75. Centerspace's payout ratio is currently -242.52%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Janney Montgomery Scott raised shares of Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 price target on the stock in a report on Wednesday, January 15th. Royal Bank of Canada boosted their target price on Centerspace from $72.00 to $73.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Wedbush began coverage on Centerspace in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $72.00 price target for the company. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $74.43.

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.