Centerspace (NYSE:CSR) Issues Earnings Results

Centerspace (NYSE:CSR - Get Free Report) issued its quarterly earnings data on Monday. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($1.57), Zacks reports. The company had revenue of $65.03 million for the quarter, compared to analyst estimates of $66.35 million. Centerspace had a negative return on equity of 0.67% and a negative net margin of 2.16%. During the same quarter in the prior year, the firm earned $1.20 earnings per share. Centerspace updated its FY 2024 guidance to 4.820-4.900 EPS.

Centerspace Trading Down 2.6 %

CSR stock traded down $1.84 during midday trading on Tuesday, reaching $69.11. 193,680 shares of the company's stock traded hands, compared to its average volume of 104,432. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.04 and a quick ratio of 0.04. Centerspace has a fifty-two week low of $46.74 and a fifty-two week high of $76.16. The business has a 50-day moving average price of $72.44 and a two-hundred day moving average price of $69.92. The company has a market capitalization of $1.06 billion, a P/E ratio of -42.93, a PEG ratio of 2.07 and a beta of 0.89.

Centerspace Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 30th were issued a $0.75 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.00 annualized dividend and a yield of 4.34%. Centerspace's payout ratio is -186.34%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CSR. BTIG Research increased their price objective on Centerspace from $69.00 to $79.00 and gave the company a "buy" rating in a research note on Monday, August 12th. Raymond James downgraded shares of Centerspace from an "outperform" rating to a "market perform" rating in a report on Monday, October 21st. Piper Sandler upped their price objective on shares of Centerspace from $64.00 to $75.00 and gave the company a "neutral" rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada boosted their price target on Centerspace from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $75.40.

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.