Centerspace (NYSE:CSR) Posts Quarterly 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) announced its quarterly earnings data on Monday. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.26 by $0.02, Zacks reports. Centerspace had a negative return on equity of 2.78% and a negative net margin of 9.13%. The business had revenue of $68.55 million for the quarter, compared to the consensus estimate of $67.89 million. Centerspace updated its FY 2025 guidance to 4.880-5.000 EPS.

Centerspace Price Performance

Centerspace stock traded down $0.79 during mid-day trading on Wednesday, reaching $53.19. The company had a trading volume of 84,425 shares, compared to its average volume of 100,603. The company has a market cap of $890.32 million, a P/E ratio of -29.65 and a beta of 0.72. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.76. The business has a fifty day simple moving average of $60.63 and a 200 day simple moving average of $61.42. Centerspace has a fifty-two week low of $52.76 and a fifty-two week high of $76.16.

Centerspace Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend was Friday, June 27th. This represents a $3.08 annualized dividend and a dividend yield of 5.8%. Centerspace's payout ratio is -275.00%.

Analysts Set New Price Targets

CSR has been the topic of several recent research reports. Royal Bank Of Canada lifted their target price on shares of Centerspace from $71.00 to $72.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Piper Sandler dropped their target price on Centerspace from $75.00 to $68.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th. UBS Group cut 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. Finally, Raymond James Financial raised Centerspace from an "outperform" rating to a "strong-buy" rating and upped their target price for the company from $66.00 to $69.00 in a report on Thursday, May 15th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $70.78.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CSR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 worth $958,000 after buying an additional 287 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of 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 purchasing an additional 1,200 shares in the last quarter. Royal Bank of Canada raised its position in Centerspace by 199.5% in the first quarter. Royal Bank of Canada now owns 15,720 shares of the company's stock worth $1,019,000 after acquiring an additional 10,472 shares during the period. Goldman Sachs Group Inc. grew its holdings in 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 purchasing an additional 20,992 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Centerspace by 307.3% in the first quarter. Millennium Management LLC now owns 184,051 shares of the company's stock worth $11,917,000 after acquiring an additional 138,861 shares during the period. 79.00% of the stock is owned by institutional investors.

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.