What is Wedbush's Estimate for Centerspace FY2024 Earnings?

Centerspace (NYSE:CSR - Free Report) - Stock analysts at Wedbush issued their FY2024 earnings per share estimates for Centerspace in a research note issued on Tuesday, December 17th. Wedbush analyst R. Anderson expects that the company will post earnings of $4.84 per share for the year. Wedbush currently has a "Neutral" rating and a $72.00 target price on the stock. The consensus estimate for Centerspace's current full-year earnings is $4.86 per share. Wedbush also issued estimates for Centerspace's Q4 2024 earnings at $1.17 EPS and FY2025 earnings at $4.89 EPS.

Centerspace (NYSE:CSR - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($1.57). Centerspace had a negative return on equity of 1.72% and a negative net margin of 5.57%. The business had revenue of $65.03 million for the quarter, compared to analysts' expectations of $66.35 million. During the same quarter in the prior year, the firm earned $1.20 earnings per share.

Several other equities research analysts also recently weighed in on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $76.00 target price on shares of Centerspace in a research report on Wednesday, October 30th. Raymond James lowered Centerspace from an "outperform" rating to a "market perform" rating in a report on Monday, October 21st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $75.33.

Centerspace Stock Up 1.9 %

CSR traded up $1.26 during trading on Friday, hitting $66.01. The company had a trading volume of 881,127 shares, compared to its average volume of 107,955. Centerspace has a 1-year low of $52.26 and a 1-year high of $76.16. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.05 and a quick ratio of 0.05. The company has a market cap of $1.09 billion, a PE ratio of -41.00, a P/E/G ratio of 2.05 and a beta of 0.89. The business has a 50-day moving average of $70.91 and a 200-day moving average of $70.90.

Hedge Funds Weigh In On Centerspace

Several institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Centerspace by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company's stock valued at $41,000 after acquiring an additional 150 shares during the period. Loomis Sayles & Co. L P boosted its stake in Centerspace by 3,131.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 614 shares of the company's stock valued at $43,000 after purchasing an additional 595 shares during the period. Rothschild Investment LLC bought a new position in Centerspace in the 2nd quarter worth about $42,000. Van ECK Associates Corp grew its position in Centerspace by 15.2% in the 3rd quarter. Van ECK Associates Corp now owns 2,626 shares of the company's stock worth $186,000 after purchasing an additional 347 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in shares of Centerspace in the third quarter valued at approximately $204,000. 79.00% of the stock is owned by institutional investors.

Centerspace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date is Monday, December 30th. Centerspace's dividend payout ratio is presently -186.34%.

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.