Centerspace (NYSE:CSR) Issues Earnings Results

Centerspace (NYSE:CSR - Get Free Report) issued its quarterly earnings results on Monday. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $1.12 by ($1.49), Yahoo Finance reports. Centerspace had a net margin of 15.81% and a return on equity of 4.76%. The company had revenue of $64.51 million for the quarter, compared to the consensus estimate of $65.30 million. During the same quarter in the previous year, the business earned $1.07 earnings per share. Centerspace updated its FY 2024 guidance to 4.740-4.920 EPS.

Centerspace Stock Performance

CSR stock traded up $2.53 during midday trading on Tuesday, reaching $67.25. 147,099 shares of the company's stock traded hands, compared to its average volume of 81,134. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.74. Centerspace has a 52-week low of $46.74 and a 52-week high of $67.87. The stock has a market cap of $1.00 billion, a P/E ratio of 27.78, a PEG ratio of 1.95 and a beta of 0.93. The stock's 50-day moving average is $58.32 and its 200 day moving average is $55.91.

Centerspace Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Thursday, March 28th were given a dividend of $0.75 per share. The ex-dividend date was Wednesday, March 27th. This represents a $3.00 annualized dividend and a dividend yield of 4.46%. This is a positive change from Centerspace's previous quarterly dividend of $0.73. Centerspace's dividend payout ratio is presently 128.76%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $63.00 price objective on shares of Centerspace in a report on Friday, March 22nd. Piper Sandler reissued a "neutral" rating and issued a $63.00 target price on shares of Centerspace in a research report on Tuesday, March 26th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $65.57.

Insider Transactions at Centerspace

In related news, Director John A. Schissel bought 500 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were bought at an average cost of $56.40 per share, for a total transaction of $28,200.00. Following the completion of the transaction, the director now owns 9,522 shares of the company's stock, valued at $537,040.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.92% 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.