Centerspace (NYSE:CSR) Stock to Pay Quarterly Dividend of $0.77

Key Points

• Centerspace declared a quarterly dividend of $0.77 per share, payable October 14 to shareholders of record September 29. The annualized dividend is $3.08, representing a 5.6% yield.
• The dividend currently exceeds earnings coverage, reflected in a -832.4% payout ratio, though analysts expect next year’s earnings to support a more sustainable 68.4% payout ratio.
• Shares recently traded at $55.40, while analyst sentiment remains cautious: the consensus rating is “Hold,” with a $64 average price target and several firms recently downgrading or lowering targets.

Centerspace (NYSE:CSR - Get Free Report) declared a quarterly dividend on Tuesday, September 1st. Stockholders of record on Tuesday, September 29th will be given a dividend of $0.77 per share on Wednesday, October 14th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend is Tuesday, September 29th.

Centerspace has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Centerspace has a payout ratio of -832.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Centerspace to earn $4.50 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 68.4%.

Centerspace Stock Up 0.4%

Shares of NYSE:CSR traded up $0.23 during mid-day trading on Friday, hitting $55.40. 150,993 shares of the company traded hands, compared to its average volume of 368,578. The stock has a 50-day moving average price of $55.13 and a two-hundred day moving average price of $59.11. Centerspace has a 12-month low of $52.00 and a 12-month high of $69.61. The stock has a market cap of $930.45 million, a P/E ratio of 43.97 and a beta of 0.86. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.87.

Centerspace (NYSE:CSR - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates of ($0.13) by $0.06. Centerspace had a return on equity of 2.58% and a net margin of 7.97%.The business had revenue of $65.78 million during the quarter, compared to analyst estimates of $66.29 million. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. On average, equities research analysts forecast that Centerspace will post 4.67 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CSR. Piper Sandler lowered their target price on shares of Centerspace from $60.00 to $58.00 and set a "neutral" rating for the company in a report on Thursday, August 27th. Weiss Ratings cut shares of Centerspace from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, August 19th. BTIG Research cut shares of Centerspace from a "buy" rating to a "neutral" rating in a report on Tuesday, June 16th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $57.00 price objective on shares of Centerspace in a research report on Thursday, September 10th. Finally, Zacks Research lowered shares of Centerspace from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 18th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $64.00.

About Centerspace

Centerspace NYSE: CSR is a self-administered and self-managed real estate investment trust focused on the ownership, management and operation of multifamily apartment communities. The company generates revenue primarily through apartment rents and related resident services, while seeking to provide well-maintained housing in markets with attractive employment and population trends.

Centerspace's portfolio is concentrated in the Upper Midwest and Mountain West, with properties serving residents in states that have included Colorado, Minnesota, Montana, North Dakota, South Dakota and Wisconsin.

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