Centerspace (NYSE:CSR) Posts Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• Centerspace reported quarterly earnings of $1.28 per share, exceeding analysts' expectations of $1.26 by $0.02, despite a negative net margin of 4.23%.
• The company declared a quarterly dividend of $0.77 per share, which translates to an annualized dividend yield of 5.7%.
• Major investors such as AQR Capital Management and Royal Bank of Canada significantly increased their stakes in Centerspace during the first quarter, indicating growing institutional interest.

Centerspace (NYSE:CSR - Get Free Report) posted its quarterly earnings data on Monday. The company reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.02, Zacks reports. The business had revenue of $68.55 million for the quarter, compared to analyst estimates of $67.89 million. Centerspace had a negative return on equity of 2.81% and a negative net margin of 9.13%. Centerspace updated its FY 2025 guidance to 4.880-5.000 EPS.

Centerspace Stock Up 0.1%

NYSE CSR traded up $0.05 on Friday, reaching $54.07. The company had a trading volume of 12,863 shares, compared to its average volume of 100,603. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.05 and a quick ratio of 0.05. Centerspace has a 1 year low of $52.76 and a 1 year high of $76.16. The firm has a 50-day moving average of $60.26 and a 200-day moving average of $61.31. The firm has a market capitalization of $906.21 million, a PE ratio of -30.04 and a beta of 0.72.

Centerspace Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Friday, June 27th were issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Friday, June 27th. Centerspace's dividend payout ratio (DPR) is presently -171.11%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CSR shares. Royal Bank Of Canada upped their price objective on shares of Centerspace from $71.00 to $72.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. UBS Group reduced their target price on Centerspace from $67.00 to $60.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 15th. Raymond James Financial raised shares of Centerspace from an "outperform" rating to a "strong-buy" rating and upped their price objective for the company from $66.00 to $69.00 in a research note on Thursday, May 15th. Finally, Piper Sandler decreased their target price on shares of Centerspace from $75.00 to $68.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $70.78.

Institutional Trading of Centerspace

A number of hedge funds have recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in shares of Centerspace by 199.5% in the first quarter. Royal Bank of Canada now owns 15,720 shares of the company's stock valued at $1,019,000 after purchasing an additional 10,472 shares during the period. AQR Capital Management LLC lifted its holdings in Centerspace by 32.5% in the 1st quarter. AQR Capital Management LLC now owns 4,891 shares of the company's stock worth $317,000 after buying an additional 1,200 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Centerspace by 2.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,790 shares of the company's stock valued at $958,000 after buying an additional 287 shares during the last quarter. Millennium Management LLC boosted its position in Centerspace by 307.3% in the 1st quarter. Millennium Management LLC now owns 184,051 shares of the company's stock valued at $11,917,000 after buying an additional 138,861 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Centerspace by 17.8% during the first quarter. Goldman Sachs Group Inc. now owns 138,676 shares of the company's stock valued at $8,979,000 after acquiring an additional 20,992 shares in the last quarter. Hedge funds and other institutional investors own 79.00% of the company's stock.

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.