Centerspace (NYSE:CSR) Releases FY 2024 Earnings Guidance

Centerspace (NYSE:CSR - Get Free Report) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 4.820-4.900 for the period, compared to the consensus estimate of 4.850. The company issued revenue guidance of -.

Centerspace Stock Performance

Shares of NYSE CSR traded up $0.62 during trading hours on Monday, reaching $70.98. 225,549 shares of the stock were exchanged, compared to its average volume of 104,004. The stock's fifty day simple moving average is $72.54 and its 200 day simple moving average is $69.86. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -88.72, a P/E/G ratio of 2.07 and a beta of 0.89. Centerspace has a 52 week low of $46.74 and a 52 week high of $76.16. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.04 and a current ratio of 0.04.

Centerspace (NYSE:CSR - Get Free Report) last posted its quarterly earnings data on Monday, July 29th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $1.20 by ($1.39). The firm had revenue of $65.04 million for the quarter, compared to the consensus estimate of $65.90 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 previous year, the business earned $1.28 EPS. Sell-side analysts predict that Centerspace will post 4.83 EPS for the current year.

Centerspace Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 30th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend was Monday, September 30th. Centerspace's dividend payout ratio (DPR) is -375.00%.

Wall Street Analyst Weigh In

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

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