Centerspace (NYSE:CSR) Issues Quarterly Earnings Results

Centerspace (NYSE:CSR) announced its earnings results on Monday. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $1.20 by ($1.39), Yahoo Finance reports. The business had revenue of $65.04 million for the quarter, compared to the consensus estimate of $65.90 million. Centerspace had a negative net margin of 2.38% and a negative return on equity of 0.73%. During the same period in the previous year, the firm earned $1.28 EPS.

Centerspace Stock Performance

Shares of NYSE CSR opened at $69.58 on Tuesday. Centerspace has a 52-week low of $46.74 and a 52-week high of $71.36. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -86.97, a PEG ratio of 2.07 and a beta of 0.88. The stock’s fifty day simple moving average is $68.34 and its 200 day simple moving average is $62.43.

Centerspace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 28th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend was Friday, June 28th. Centerspace’s payout ratio is -375.00%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CSR shares. Compass Point downgraded Centerspace from a “buy” rating to a “neutral” rating and lifted their target price for the company from $65.00 to $68.00 in a research note on Friday, May 3rd. Piper Sandler lifted their price target on Centerspace from $63.00 to $64.00 and gave the company a “neutral” rating in a research report on Monday, May 6th. Royal Bank of Canada lifted their price target on Centerspace from $66.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Finally, Raymond James upgraded Centerspace from a “market perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a research report on Friday, May 24th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.57.

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.